Colibri Resources – Silver Mining and Exploration in Mexico
Overview
Colibri Resources (TSXV:CBI) is a multinational exploration corporation focused on exploring historical silver mining districts in Mexico. Colibri owns three different projects in the State of Sonora: Ramard, Leon and Colibri. The Ramard, Leon and Colibri projects encompass at least 4,000 hectares with historical arsenal mine workings. These claims contain anomalous concentrations of disseminated precious metals.
In addition to these three claims, Colibri also has a joint venture underway with Agnico-Eagle Mines Ltd. to explore for gold on the Colibri claim. Also, Colibri owns 100% interest in a 500 hectare claim in close proximity to three operating gold mines 50 kilometers north of the City of Caborca, Sonora.
Investment Highlights
- Exploring for gold and silver in Mexico
- Four 100%-owned claim sites in Mexico
- Ramard project site is highly accessible in a solid jurisdiction
- Promising joint venture with Agnico-Eagle Mines Ltd.
- Highly experienced management team
Key Properties
Ramard
The Ramard Project is currently Coiibri’s main development focus. It consists of a cluster of mineral concessions encompassing approximately 4,000 hectares in Sonora, and the property contains numerous historical artisanal silver mine working. The project area is highly accessible, as it is bisected by a two lane paved highway and is located 70 kilometers from Hermosillo.
Scout drilling completed in 2006 demonstrated the presence of widespread disseminated mineralization plus high-grade zones containing up to a maximum of 1235 grams per tonne (gpt) silver (~39 ounces per tonne silver). In 2007, results for 89 drill holes targeting the La Bronca Zone and the Verde Zone reported significant intercepts of silver, zinc, lead and copper mineralization, with values ranging up to concentrations of 872 gpt Ag.
Update
In June 2011 drill results at the Ramard silver project in Sonora reported 311 grams per tonne silver, 2% lead, and 3.4% zinc between 37 and 38 meters depth, plus multiple intervals of silver-lead-zinc. These findings are the result of a 2400 meter drill program at the property, which consists of over 4,000 hectares of mineral concessions located 100 km north of the city of Hermosillo, Sonora, and is wholly owned by Colibri’s Mexican subsidiary, Minera Halcones.
Assays have been returned from holes 17-28 of 28 drill holes, and these results provide infill data for previously reported holes from the main ridge of La Bronca Zone. Four drill holes all intersected intervals of low-grade disseminated silver-lead-zinc mineralization.
Colibri
The Colibri Property is a joint venture development project with Agnico-Eagle Mines Ltd. that includes 14 significant gold deposits located near Sonora, most notably La Herradura, Noche Buena and El Chanate. All of these deposits occur along northwest-trending Mojave-Sonora megashear, a major Late Jurassic continental-scale transform fault analogous to the modern-day San Andreas fault. Colibri geologists are confident that the megashear was responsible for structural preparation of ground that continues to yield significant gold results from properties that include the 6,564-hectare project.
Summary
In November 2011, Colibri Resources announced that an initial 2,000-meter drill program commenced on the Ramard property in Mexico. The Ramard property consists of over 4,000 hectares of mineral concessions located 100 km north of the city of Hermosillo, and is wholly owned by Colibri’s Mexican subsidiary, Minera Halcones. This investment opportunity is highlighted by the fact that the Ramard property contains numerous historical artisanal silver mine workings. Other investment highlights include solid infrastructure, as the chief property is located adjacent to a two-lane highway, and the management team consists of highly skilled professionals.
Management
Lance D. Geselbracht, P.E. - Director, President and CEO
Lance D. Geselbracht is a registered professional civil engineer with over 25 years’ experience in civil construction, groundwater resources and environmental remediation. Mr. Geselbraht’s career highlights include positions in several capacities at multinational engineering and construction firms such as Peter Kiewit & Sons’ Co. and IT Corporation. Mr. Geselbracht holds a bachelor’s degree in Civil Engineering from California State University.
Paul Bartos, Ph.D. - Director and Co-Chairman of the Board
Dr. Paul Bartos’s professional background includes management and development positions at ASARCO Inc., and he is currently Vice President and chief geologist at Esperanza Resources Corporation. Dr. Bartos was instrumental in the discovery of the San Luis bonanza vein deposit; one of the highest grade precious metal deposits found in recent years.
The San Luis deposit was recently sold to Silver Standard Resources. Dr. Bartos was also responsible for the discovery and development of the San Bartolome silver deposit in Bolivia, which is currently in production by Coeur d’Alene Mines Corporation. Dr. Bartos is also a noted authority on epithermal deposits.
Ronald Goguen, Sr - Director and Co-Chairman of the Board
Ronald Goguen has been an exploration drilling company entrepreneur for over thirty years. He has served as President and Chief Executive Officer on the boards of some the largest mineral drilling service companies in the world. Mr. Goguen was the founding shareholder of Landdrill International Inc’s predecessor company, and oversaw the IPO in 2006.
Mr. Goguen’s sits on the Board of Directors for Northeast Bank and is Chairman of the Board for Beaver Brook Antimony Mine Inc the largest antimony mine outside of China. In 1995, Mr. Goguen received Atlantic Canada’s Entrepreneur of the year distinction from the Governor General of Canada.
Jonathan A. Nourse, Ph.D. - Director,Vice President, Exploration
Dr. Jon A. Nourse has been conducting geologic field research in Mexico since 1985. He has produced several publications on Tertiary extension, Laramide contraction, and Proterozoic basement geology in Sonora. He also co-edited the Geological Society of America Special Paper on the Mojave-Sonora megashear and has produced several reports describing structurally controlled gold deposits within the Sonora mineral belt.
Dr. Nourse is a graduate of the Colorado School of Mines and completed his doctoral dissertation at the California Institute of Technology. Dr. Nourse has been a professor of geology at California State Polytechnic University, Pomona for seventeen years.
Roger Doucet - Director
Mr. Roger Doucet is the Director of Exploration for Agnico-Eagle Mines in Mexico. He has been an officer of several mineral exploration companies in the public and privatesectors, including Ancash Mining, Dynacor Mines Inc., Lac Minerals Ltd., Morrison Minerals Ltd., and Inca Drilling S.A. Peru.
During his tenure at Lac Minerals Ltd., he was responsible for the discovery of the Bousquet 1 gold mine, and participated in the discovery of the Doyon gold mine. Mr. Doucet was granted the “Prospector of the Year” Award in 1978 by the Québec Prospectors Association for the discovery of the Doyon and Bousquet #1 deposits in Abitibi, Quebec. Mr. Doucet oversaw the reevaluation of the East-Malartic and Canadian Malartic mines, which lead to the discovery of large gold zones. Mr. Doucet has also been the Exploration Manager for Agnico-Eagle Mines in Mexico since 2006, focused on mineral exploration activities at Pinos Altos. He holds a Bachelor’s degree in geology.
William R. Walker - Director
Mr. William R. Walker is an entrepreneur and a mortgage consultant. He is currently director at All Island Equity Mortgage Investment Corporation, Community Futures Development Corporation of Central Island and Cadence Resource Corporation. Mr. Walker holds a bachelor’s degree from McGill University.
