VANCOUVER, May 30, 2013 /CNW/ - Colibri Resource Corporation ("Colibri" or the "Company") (TSX.V-CBI) is pleased to provide an update of exploration activities at the 506
hectare Evelyn Gold Project, near the town of Caborca in Sonora,
Mexico. Evelyn in located approximately 13 kilometres to the northeast
of the Noche Buena Gold Mine (Minera Penmont JV - Fresnillo PLC 56%,
Newmont USA Ltd. 44%), and about 20 kilometres to the northwest of the
Company's Colibri/Pitaya Gold Project. The conceptual target at Evelyn
is orogenic-style gold mineralization, similar to other projects in the
Caborca area. The project has small scale historic artisanal gold
workings on northeast and northwest-trending vein structures in altered
and locally schistose volcanic host rock.
A total of 703 surface soil samples were collected in two campaigns at
the Evelyn Project. The sample lines are oriented north-south and
spaced 100 metres apart. Samples were collected every 50 to 100 metres
along these lines, and at an average 30 centimetre depth.
Gold values range up to 2.27 grams per tonne, with greater than 10% of
the samples analyzing over 50 parts per billion (ppb) gold. The table
below summarizes the distribution of gold values. The sampling
highlights strong, widespread anomalous gold values over much of the
Evelyn property. Please refer to the gold geochemistry map on the
Company website.
|
|
Number of
Samples
|
Gold Assay
Values (ppb)
|
|
|
116
|
<5
|
|
|
397
|
> 5 - 25
|
|
|
113
|
> 25 - 50
|
|
|
47
|
> 50 - 100
|
|
|
16
|
> 100 - 200
|
|
|
14
|
> 200
|
|
TOTAL
|
703
|
|
| |
|
|
Sample Protocol
Samples from the two campaigns were analyzed in different laboratories.
370 samples from the first program were delivered to Inspectorate
Laboratories' preparation facility in Hermosillo, Mexico and analyzed
in Vancouver, B.C. using a GENX 30 package. This includes fire assay
for gold with atomic absorption (AA) finish, cold vapor analysis by AA
for mercury, and 29 element induced coupling plasma (ICP) analyses for
remaining elements. Inspectorate Laboratories' quality management
system complies with International Standards ISO 9001:2008. 333 samples
from the second campaign were prepared in Acme Analytical Laboratory's
Caborca, Mexico preparation lab and analyzed in Vancouver, B.C. using a
1F02 package. This includes an aqua regia digestion and 37-element
ICP-MS 'ultratrace' analysis. The gold analysis is done on a 15 gram
pulp portion to try to minimize nugget effect. Acme Analytical's
quality management system complies with International Standards ISO
9001:2008. Both laboratories meet all established criteria as related
to reporting requirements for mining and exploration companies under
National Instrument NI-43-101.
Company Information
Colibri Resources is a Canadian exploration company focused on the
exploration and development of base and precious metal projects in
Mexico. Cary Pothorin, P.Geo., a qualified person as defined in
National Policy 43-101, is responsible for all technical information
contained in this news release.
"The Evelyn property presents an excellent early stage, gold exploration
project within a regional area of three operating open pit gold mines
and several ongoing gold exploration projects all within a 50 kilometer
radius. We will continue to review our existing exploration projects in
Sonora through 2013 with minimal amounts of field work and geologic
interpretation while preserving our capital," stated CEO Lance
Geselbracht, P.E. "We have received preliminary results from the Spring
2013 drilling Agnico Eagle Mines has completed on the Colibri site and
will release those results after reviewing all laboratory assays and
technical information. Presently, Colibri has over $700,000 in the bank
with no outstanding financial liabilities."
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.
SOURCE: Colibri Resource Corporation
