DIEPPE, NB, Oct 12, 2016 /CNW/ - (CBI: TSX-V) Colibri
Resource Corporation (Colibri) is pleased to announce a review and
update of its 100% owned, 506 hectare, Evelyn Gold Property in
Sonora State, Mexico. The Evelyn
Property is about 9 Km. north east of the producing Noche Bueno Gold Mine and about 30 Km. east of
the producing La Herradura Gold Mine, both owned by Fresnillo.
From a Colibri news release dated June 1,
2009, "The Evelyn claim encompasses old hard rock and placer
mine workings developed in sheared and fractured Jurrasic volcanic
and sedimentary rocks. Preliminary geologic mapping and rock chip
sampling has identified a northeast trending structure, exploited
by an old mine working, that corresponds to a sheared quartz rich
sandstone layer. Thirteen samples of sheared quartz veins and
hematized sandstone wall rock collected along a strike length of
110 m. returned assays between 0.13 g / ton and 26.06 g /
ton Au. The composite average of these 13 samples is 9.18 g / ton
Au."
On May 30, 2013 the company
reported on a soil sampling program over the rest of the Evelyn
Property." A total of 703 soil samples were collected and gold
values in soils ranged up to 2.27 g / tonne with greater than 10%
of the samples being over 50 ppb gold. The sampling highlighted
strong, widespread anomalous gold values over much of the Evelyn
Gold Property."
The soil geochemistry map generated by the soil sampling
program shows at least 8 areas of high gold values in soils that
should be followed up on.
Colibri will initiate a program of detail mapping and sampling
in the area of the high grade chip samples and explore for
extensions of this area. We will also investigate the areas of high
gold in soils to see if we can strip, map and sample these areas.
The above work will be followed up by a second phase program of
drilling.
About Colibri Resource Corporation:
Colibri is a Canadian mineral exploration company listed on the
TSX-V (CBI) focused on acquiring and exploring properties in
Mexico.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as the term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This news release may contain forward looking statements
concerning future operations of Colibri Resource Corp.(the
"Company"). All forward looking statements concerning the company's
future plans and operations, including management's assessment of
the Company's project expectations or beliefs may be subject to
certain assumptions, risks and uncertainties beyond the Company's
control. Investors are cautioned that any such statements are
not guarantees of future performance and that actual
performance, exploration and financial results may differ
materially from any estimates and projections.
SOURCE Colibri Resource Corporation