VANCOUVER, Aug. 27 /CNW/ - Colibri Resource Corporation has received
assay results for an additional 186 soil samples collected from the Leon
Project, Sonora, Mexico. The Leon Project is held by an option agreement
between the Mexican subsidiary of Colibri, Minera Halcones SA de CV and a
private Mexican company to acquire 100% ownership of 3,400 hectares of mineral
concessions (an additional claim of 3200 hectares has been applied for). The
eastern boundary of the Leon Project concession borders the concession block
that includes the "El Creston" porphyry molybdenum deposit, an indicated
resource of 92.9 million metric tonnes grading 0.083% Mo, 0.06% Cu, with
84 million tonnes grading 0.076% Mo, 0.05% Cu in the inferred category (see
report posted April 2, 2007, by Georgia Ventures Inc., www.sedar.com).
The eastern half of the Leon Project encompasses approximately 10 square
kilometers of copper-molybdenum bearing stockwork quartz veined porphyry
intrusions and low angle detachment faults (news release of May 16, 2007).
Soils were collected at 50 meter intervals on north-south directed lines
500m apart (see maps on www.colibriresourcecorp.com).
Highly anomalous soils have defined three target areas;
The "Variedad Zone" an elliptical anomaly greater than 1 km in length and
300-500m wide cut first by line 8000E (see news release of July 18, 2007),
subsequently sampled between 5400N and 5800N on line 7500E, 9 samples between
215 ppm and 457 ppm Cu, averaging 306 ppm Cu, between 13 and 109 ppm Mo
averaging 49 ppm Mo, and 4-16 ppb gold, averaging 8.4 ppb gold, plus on line
8500E between 5000N and 5300N, 7 samples between 280 and 722 ppm Cu, average
462 ppm Cu, 12-67 ppm Mo averaging 29.6 ppm Mo, 2-14 ppb gold averaging 4 ppb.
This anomaly occurs entirely within granitic intrusive and porphyry dykes.
The "Tinaja Zone" a elongated N-S trending zone at least 500m wide first
sampled on line 30000E (see news release of July 18, 2007), subsequently
sampled on line 9500E between 3750N and 4250N, 11 samples, between 86 and
444 ppm Cu, averaging 254 ppm Cu, 22-89 ppm Mo, averaging 51.6 ppm Mo.
This anomaly is associated with both north-south striking, east-dipping
detachment faults and porphyry intrusive, and remains open to the east.
The "Fortuna Zone", an elliptical zone trending NW-SE, first sampled on
lines 9000E and 30000E (see news release of July 18, 2007). On line 9500E
between 5500N and 5950N 10 samples contain between 137 and 474 ppm Cu,
averaging 286 ppm Cu, 16 and 413 ppm Mo, averaging 106 ppm Mo, 2-18 ppb gold
averaging 7.3 ppb gold. The Fortuna zone includes both porphyry style
intrusive and major east dipping detachment faults and remains open to the
The company has received notice from the Direccion de Minas (the Mexican
Mining claim registry office) that it has the right of first refusal to stake
the "Fortuna" claim, a 10 hectare block that occurs within the Leon Project
boundary. The Fortuna claim was released during March of 2007. A total of 104
competing applications for this claim were submitted in a claim solicitation
procedure in May, 2007, including 100 by Mexican locals. Mexican mineral claim
laws include an exemption clause that allows the owners of a pre-existing
mining claim the right to acquire any claim that occurs within it that is 10
hectares or less in size. The "Fortuna" claim is exactly 10 hectares
(200 meters wide and 500 meters long), hence falls within this special
exemption category. The company has submitted the required claim surveying
documents and anticipates receiving title to this claim within a few months,
regarded as a formality.
The "Fortuna" claim includes a substantial underground molybdenum plus
copper mine working. Mr. D. Irving, P.Eng. collected "two samples (Nos 3575
and 3576) taken from the main adit level of the Fortuna mine averaged 0.22% Cu
and 0.21% Mo across true widths of 1.10 and 1.40 meters" (quoted from from
Final Prospectus, July 14, 2005). Acquisition of this internal claim
eliminates potential for conflict or competition and will facilitate
exploration and development of the Leon Project.
Soil samples were collected using standard hand digging techniques from
the "B" soil horizon 20-30 cm below the surface. Sampling and mapping are
Exploration was conducted under the supervision of J.J. Irwin, B.Sc.,
Ph.D., the qualified person under National Instrument 43-101 on this project.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents herein.
For further information:
For further information: Visit our website at
www.colibriresourcecorp.com or call Lance Geselbracht, P.E., (604) 669-7591