Colibri Resource Corporation Samples 43.9 grams per tonne Au at its Evelyn Property, Mexico
Colibri Resource Corporation Samples 43.9
grams per tonne Au at its Evelyn Property,
Mexico
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
View original content:
http://www.newswire.ca/en/releases/archive/March2019/26/c9607.html
%SEDAR: 00021936E
For further information:
Ronald J. Goguen, President, Chairperson and Director, Tel:(506) 383-
4274, [email protected]
CO: Colibri Resource Corporation
CNW 10:07e 26-MAR-19