VANCOUVER, Feb. 24, 2012 /CNW/ - Colibri Resource Corporation (CBI: TSXV) is pleased to announce progress on its Ramard silver project located near the municipality of Carbo, State of Sonora, Mexico. Colibri recently completed a comprehensive exploration program over the Ramard property, which included geologic mapping, a systematic rock and soil geochemical sampling program, and a ground-based 3D Induced Polarization geophysical survey.
The geophysical survey identified several Induced Polarization (I.P.) chargeability and resistivity anomalies which correspond to surface geochemical anomalies of silver, zinc, lead and copper. One such anomaly underlies the La Bronca zone, the location for a planned 2,000 meter diamond drilling program that is now scheduled to start March 5th. The start date was delayed to allow complete interpretation of work conducted during the past months and to focus detailed mapping and sampling in areas with surface geochemical anomalies. In addition to the La Bronca Zone, several additional surface anomalies were found to contain strongly anomalous values of the metals noted over the 2,000 hectare study area within the Ramard claim.
The 3D Induced Polarization geophysical survey revealed a large I.P. chargeability anomaly which coincides with the surface expression of the alteration and mineralization at the La Bronca Zone. The chargeability high is approximately 400 meters wide by 600 meters long, and persists to a depth of at least 300 meters, which is the effective depth limit of the I.P. survey. Surface sampling and percussion drilling programs carried out in 2006, 2007, and 2011 have indicated the presence of significant silver-lead-zinc skarn-type mineralization in what is a historic small-scale silver producing area. The Company is very pleased with the results of the surface exploration program and looks forward to initiating the drill program.
The foregoing technical disclosure has also been reviewed and verified by Colibri's CEO, Lance Geselbracht, P.E. (a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects).
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.
Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations are disclosed in the Corporation's documents filed from time to time with the TSX Venture Exchange and, among others, the British Columbia Securities Commission as well as under the heading "Risk Factors" in the Company's annual and interim Management Discussion and Analysis.
For further information:
Lance Geselbracht, P.E., President and Chief Executive Officer
Tel: (250) 755-7871
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