DIEPPE, NB, Oct 12, 2016 /CNW/ - (CBI: TSX-V) Colibri Resource Corporation (Colibri) is pleased to announce a review and update of its 100% owned, 506 hectare, Evelyn Gold Property in Sonora State, Mexico. The Evelyn Property is about 9 Km. north east of the producing Noche Bueno Gold Mine and about 30 Km. east of the producing La Herradura Gold Mine, both owned by Fresnillo.
From a Colibri news release dated June 1, 2009, "The Evelyn claim encompasses old hard rock and placer mine workings developed in sheared and fractured Jurrasic volcanic and sedimentary rocks. Preliminary geologic mapping and rock chip sampling has identified a northeast trending structure, exploited by an old mine working, that corresponds to a sheared quartz rich sandstone layer. Thirteen samples of sheared quartz veins and hematized sandstone wall rock collected along a strike length of 110 m. returned assays between 0.13 g / ton and 26.06 g / ton Au. The composite average of these 13 samples is 9.18 g / ton Au."
On May 30, 2013 the company reported on a soil sampling program over the rest of the Evelyn Property." A total of 703 soil samples were collected and gold values in soils ranged up to 2.27 g / tonne with greater than 10% of the samples being over 50 ppb gold. The sampling highlighted strong, widespread anomalous gold values over much of the Evelyn Gold Property."
The soil geochemistry map generated by the soil sampling program shows at least 8 areas of high gold values in soils that should be followed up on.
Colibri will initiate a program of detail mapping and sampling in the area of the high grade chip samples and explore for extensions of this area. We will also investigate the areas of high gold in soils to see if we can strip, map and sample these areas. The above work will be followed up by a second phase program of drilling.
About Colibri Resource Corporation:
Colibri is a Canadian mineral exploration company listed on the TSX-V (CBI) focused on acquiring and exploring properties in Mexico.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward looking statements concerning future operations of Colibri Resource Corp.(the "Company"). All forward looking statements concerning the company's future plans and operations, including management's assessment of the Company's project expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond the Company's control. Investors are cautioned that any such statements are not guarantees of future performance and that actual performance, exploration and financial results may differ materially from any estimates and projections.
SOURCE Colibri Resource Corporation
For further information: Edward Stringer, President, CEO and Director, Tel: (506) 383-4274, [email protected]