DIEPPE, NB, March 26, 2019 /CNW/ - (CBI-TSX Venture) Colibri
Resource Corporation ("Colibri" or the "Company") is pleased to
announce that it has received assays from its geological mapping
and sampling initiatives recently completed on the Evelyn and El
Mesquite properties, Sonora,
Mexico. Results include a value of 43.9 g/t Au from a quartz
vein on the Evelyn property.
The field work on the Evelyn and El Mesquite properties was
completed in parallel with on-going project data compilation and
interpretation. The objective of the on-going surface
exploration programs is to advance both properties to the
exploration drilling stage.
Evelyn
The Evelyn property is located in northern Sonora, within the Caborca Gold Belt of the
Sonora Megashear. The Caborca Gold Belt includes the Noche Buena
Mine (167,200 ounces Au produced in 2018) located approximately 9
km southwest of Evelyn and La Herradura Mine (474,200 ounces Au
produced in 2018) which is located approximately 30 km to the west
of Evelyn. Geological mapping completed by Company
geologists confirm that the Evelyn property hosts Orogenic-type
lode Au mineralization. Mineralization consists of gold
bearing quartz veins hosted by sheared and altered sedimentary
rocks.
Sampling at Evelyn was aimed at determining the Au
concentrations of veins, strongly sheared and altered host rocks
proximal to the veins, and weakly altered host rocks more distal
from vein mineralization. Thirteen grab samples were
collected and analyzed for Au. Eleven samples were collected
from the main showing and two samples were collected from an area
of sub-crop located approximately 55 metres from the main showing.
The assay results are summarized:
- Two samples taken from the main quartz vein returned values of
43.9 and 7.28 g/t Au
- Six samples of relatively strongly altered host rock adjacent
and proximal to the main quartz vein returned values ranging from
0.13 to 0.57 g/t Au with an average of 0.32 g/t Au.
- Five samples of less altered to relatively un-altered host
rocks returned values ranging from less than detection limit to
0.05 g/t Au.
- Two samples were collected from a separate area of sub-crop
containing sheared and altered sedimentary rocks and minor quartz
float. The samples returned values of 0.256 and 0.079 g/t Au
El Mezquite
El Mezquite property is located
within the Sierra Madre, eastern Sonora and is located approximately 50 km
southwest of the La India (Agnico Eagle) and the Mulatos (Alamos
Gold) Mines The property is also located approximately 10 km
northwest of the Nicho gold deposit held by Minera Alamos. Minera
Alamos is planning an open pit - heap leach operation at
Nicho and is advancing toward production in Q1 2020.
(Doug Ramshaw – PDAC
2019)
The recently completed mapping at El
Mezquite confirms the mineralization is high sulphidation
type. El Mezquite property
is characterized by a central area of strongly altered and variably
oxidized volcanic rocks. Historical grab sampling from
this zone of alteration have returned values up to 3.41 g/t
Au. During the mapping program recently completed by the
Company a total of 24 grab samples of outcrop were
collected. All samples were analyzed for Au and Ag and
9 samples were analyzed for selected elements. Selected
samples are currently subject to mineralogy (thin section
petrography and X-Ray Diffraction (XRD) analyses). Four areas were
sampled:
- Locality 1. Seven samples were taken from an area of outcrop
characterized by strongly altered and oxidized rock. Au values
range from 0.017 to 0.998 g/t Au and Ag values range from 0.9 to
152 g/t. Field relationships indicate that the highest grade
samples from this location are silica altered rocks within an
overall domain of intense clay alteration. The highest grade Au
sample, 0.998 g/t, also returned the highest Ag grade of 152 g/t
(4.43 ounces per ton).
- Locality 2. Three samples were collected from an area of
outcrop in a creek bed characterized by stockwork style alteration
and associated oxidation within comparatively weakly altered
fragmental volcanic rocks. The primary objective of sample
collection at this locality was determination of volcanic
rocks
- Locality 3. Eight samples were collected in an area of
historical working. The area of outcrop is characterized by
observed pyrite concentrations up to approximately 5% and is weakly
to un-oxidized. Au values from this location range from 0.018 g/t
to 1.63 g/t. Ag values range from 1.2 g/t to 204 g/t (5.95 opt). As
observed at locality 1, samples with higher Ag concentrations at
this location correlate with higher Au grades. The orientation of
the historical working and the distribution of grade in the current
sampling suggest a northeast control on elevated Au and Ag
grades.
- Locality 4. Seven samples were collected from an exposure of
strongly altered and variably oxidized rocks locally containing up
to 10% pyrite. The samples returned lower Au and Ag values with Au
values ranging from less than detection limit to 0.105 g/t and Ag
values ranging from less than detection limit to 2.7 g/t.
Although preliminary in nature and currently of limited scope,
the Company notes that base metal contents and ratios, indicated by
the current ICP analyses, are similar for sample locations 1 and 3
and are markedly different than those at location 4. This
significance and potential use of this observation will be further
evaluated and developed with additional analyses in future
exploration at El Mezquite. Mineralogical studies, including
thin section petrography and X-Ray Diffraction, are in progress on
selected samples from all of the locations sampled.
Continued Exploration
Colibri Chief Operating Officer Ian
McGavney commented "We are very encouraged by the
preliminary results of the current exploration programs on both the
Evelyn and El Mesquite properties. The results confirm the
target types on the respective properties and combined with the
on-going compilation and interpretation of data provides a
foundation for continued exploration planning"
Evelyn
The Evelyn property has an area of 506 hectares and has never
been drilled. During 2017, a reconnaissance level field
program consisting of geological mapping, sampling, and structural
interpretation was completed (see the Company website for the
project report). The work identified multiple Au in outcrop
occurrences. A historical soil geochemistry survey, completed
in 2012, resulted in the identification of an Au in soil anomaly on
the northern and northeastern part of the property that has not
been further evaluated. The near term plans for the
Evelyn property is to expand the scope of geological mapping and
sampling to fully evaluate and develop the previous and historical
exploration work. It is anticipated that near term
exploration work will include trenching selected showings
previously not fully evaluated.
El Mezquite
Previous exploration on the El
Mezquite property included the collection of 321 grab
samples. Anomalous to higher Au grades in these samples, 0.10
g/t Au to 3.41 g/t Au, and associated mapping of alteration,
delineate a zone of Au potential on the northeastern part of the
property (see Company website). In 2011 this zone of
potential was covered by a Three Dimensional Induced Polarization
Survey (3D-IP Survey) which resulted in the identification of
chargeability and resistivity anomalies underlying the surface area
of potential. The Company is having the 2011 survey IP data
re-processed and re-evaluated with upgraded processing technology.
Continued surface exploration on the property includes
detailed mapping and sampling aimed at northeasterly grade trends
within the currently defined area of potential and mapping and
sampling the extents of the property. The property also
includes 2 known historical mining sites that have not yet been
evaluated by the Company. The El
Mezquite property has never been drilled.
For more information about Colibri Resource Corp and its
projects please visit the following link:
www.colibriresource.com/corporate/presentations
Sampling, Analyses, and QAQC
The samples collected during the field work and reported here
are grab samples of out-crop and sub-crop. Grab samples are
not representative of any volume (tonnage) of potential
mineralization on the property. The grab samples were
collected as part of the on-going exploration effort to determine
the Au and Ag contents of various rock types on the respective
properties. Mineralogical and chemical analyses
of some the samples are in progress. The assays were
completed at ALS being submitted to the ALS laboratory in
Hermosillo, Sonora. Industry
standard sample preparation and analytical techniques were
used. The ALS sample preparation procedures used include
crushing the entire sample to 70% passing 2 mm and pulverizing a
250 g split of the crushed sample to 85% passing 75 microns.
Au determination was by fire assay on a 30 g sample of the
pulverized sample and AAS analysis. The high grade Au sample
from Evelyn was determined with a gravimetric finish. Ag was
determined on all of the El
Mezquite samples by aqua regia digestion and AAS analysis on
a 0.5 g sample of the pulverized material. Ag samples
returning over limit values (> 100 g/t) were re-run using an
ICP-AES finish. Selected major, minor, and trace elements
were determined on a limited number of samples using a four acid
digestion with ICP-AES finish. QAQC implemented by the
Company includes the use of Certified Reference materials and the
completion of duplicate analyses. All samples were in the
possession of Company geologist from collection to submission at
the ALS Laboratory in Hermosillo.
Qualified Person
Jackie E. Stephens, P. Geo for
Colibri is a Qualified Person as defined in NI 43-101 and has
reviewed and approved the technical information in this press
release.
For more information about all of our projects please visit:
www.colibriresource.com.
We seek safe harbour.
About Colibri Resource Corporation:
Colibri is a Canadian mineral exploration company listed on the
TSX-V(CBI) focused on acquiring and exploring gold properties in
Mexico.
The TSX Venture Exchange has neither approved nor disapproved
the contents of this news release. Neither TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. The
statements made in this news release may contain forward-looking
statements that may involve a number of risks and uncertainties.
Actual events or results could differ materially from the Company's
expectations and projections.
SOURCE Colibri Resource Corporation