Colibri identifies Molybdenum Porphyry on the Leon Project, Sonora, Mexico
11:55 EDT Wednesday, May 16, 2007
Listed TSX-V: CBI
VANCOUVER, May 16 /CNW/ - Colibri Resource Corporation has completed the first stage of mapping and sampling on the east side of the Leon Project, Sonora, Mexico. The Leon Project is held by an option agreement between the Mexican subsidiary of Colibri, Minera Halcones SA de CV and a private Mexican company to acquire 100% ownership of 3,400 hectares of mineral concessions. The Leon concessions contain silver-gold-lead-zinc mineralization on the western half of the claim block (described in March 5, 2007, Colibri Resource Corp. News Release). The eastern boundary of the Leon Project concession abuts the concession block that includes the "El Creston" porphyry molybdenum deposit, an indicated resource of 92.9 million metric tonnes grading 0.083% Mo, 0.06% Cu, (see report posted April 2, 2007, by Georgia Ventures Inc., www.sedar.com). The distance between the Leon claim boundary and the "El Creston" deposit varies between 1.5 and 3 km (see maps, satellite image, and cross section www.colibriresourcecorp.com).
Geological mapping and structural analysis was conducted by Dr. J. Nourse between January and March, 2007. Molybdenum and copper minerals occur within swarms of 1m to 10 m-wide quartz veins and stockwork veined rhyolite porphyry dikes hosted by Precambrian gneiss or granite, Late Cretaceous granodiorite, and Tertiary porphyritic granite. Molybdenite is visible in many of the assayed samples. Less commonly observed are oxide minerals such as ferrimolybdenite. Malachite and azurite are common. Molybdenite-bearing veins generally strike northwest, although a few veins trend east or northeast. Two northeast-dipping low-angle normal faults (detachment faults) have broken this eastern part of the Leon property into three imbricate fault slices (see maps, satellite image, and cross section posted on www.colibriresourcecorp.com). Cross cutting relationships between distinct marker units indicate displacement greater than 1 km on this detachment system. Directly to the east of the Leon Project (between 2 and 3 km) are two other sub-parallel, low angle faults, the "Creston" and "Gemini" faults, which bound the El Creston molybdenum deposit (see report posted April 2, 2007, by Georgia Ventures Inc., www.sedar.com). 145 rock samples were collected by Dr. Nourse and Mr. Paul Stubbe, B.Sc., over an area approximately 4 km x 3 km, mostly from quartz veins and stockwork. Concentrations of molybdenum in quartz veins and in porphyry intrusions range between a few ppm and a high of 26,740 ppm (2.67%). The average molybdenum concentration in all 145 samples is 558 ppm, (0.056 %.) Copper values range between 15 ppm and 4.41%. Molybdenum and copper mineralization is widely distributed in the detachment faults, probably as a consequence of entrainment of primary ore in fault zones.
On the basis of satellite imagery and ground observations the company has applied for a mineral concession that expands the current claim block by 3164 hectares to the north and south of the Leon Project boundaries.
Mapping and sampling is continuing.
Exploration was conducted under the supervision of J.J. Irwin, B.Sc., Ph.D., the qualified person under National Instrument 43-101 on this project.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents herein.
For further information: Visit our website at www.colibriresourcecorp.com or call Lance Geselbracht, P.E., (604) 669-7591
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