VANCOUVER, Feb. 19, 2016 TSXV: GGI
/PRNewswire/ - Garibaldi Resources Corp. is pleased to report that recent mapping and broadly-spaced sampling at its 100%-owned Rodadero Silver-Gold Project, in advance of fresh drilling, has outlined three new mineral horizons surrounding the Silver Eagle deposit west and up to 350 meters north of discovery hole SE-14-01.
Meanwhile, Garibaldi crews are now preparing to drill-test a potential new discovery area ("Rambo") several km east of Silver Eagle contiguous to the northern boundary of privately held claims where a small-scale mining operation is extracting near-surface high-grade gold and silver from two main veins. Crushed vein material is being shipped to a nearby smelter in central Sonora State. Garibaldi is targeting similar gold-silver mineralization at Rambo at depths of less than 100 meters.
Steve Regoci, President and CEO, commented: "After 15 initial shallow drill holes and follow-up field work, it's apparent that Silver Eagle has a potential strike length in excess of 2 km and hosts multiple lenses with average grades of 600 g/t Ag and widths of 1-5 meters. Discovery hole SE-14-01 returned 2,010 g/t Ag over a true width of 5.6 meters.
"The latest sampling to the west and the north further expands the Silver Eagle mineralized footprint," Regoci continued, "and also suggests that gold could be present in these new areas as well, though this will require confirmation through additional drilling. Given this new information, we've been refining our exploration and development strategies at Silver Eagle while finalizing drilling plans at Rambo. The immediate objectives at Rodadero include a second drilling discovery for gold, further progress at Silver Eagle and the unlocking of value at other targets in the 12-target package covering 45 sq. km."
Results from the last drill hole at Silver Eagle (6 meters grading 346 g/t Ag in SE-14-15, a 150-meter step-out from SE-14-01) confirmed that shallow high-grade mineralization exists north of the discovery hole, not just toward the south. This trend is believed to extend even further to the north in zones of crystal tuff with iron oxides where Niton XRF readings of surface samples have allowed the company to target another extension of the Silver Eagle system.
Sampling up to 125 meters west of drill hole SE-14-12a (1 m @ 1,352 g/t Ag) suggests that the high-grade mineralization tracks further westward as well.
Rodadero Maps & Photos
While Garibaldi is highly encouraged by initial drill results and other data collected at Silver Eagle to date, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in this target being delineated as a resource.
Quality Assurance & Control
Garibaldi maintains strict QA-QC protocols for all aspects of its exploration programs that include the systematic insertion of blanks and standards into each sample batch. Acme Labs (now part of the Bureau Veritis group that includes BSI Inspectorate) performed assay analyses on core from all 15 holes drilled to date at Silver Eagle as reported March 5, 2015. All samples were assayed using certified and industry standard assay techniques for gold and multi-element packages for other elements and for over-limits. Au was analyzed by 30 or 50 gram fire assay with an atomic absorption finish, and other elements were analyzed by multi-element ICP. Samples in excess of 1,500 g/t Ag were analyzed by gravimetric methods.
Dr. Craig Gibson, Certified Professional Geologist and a director of Garibaldi, is a non-arms length Qualified Person for the Company's Mexico projects and the direct manager of the technical programs operated under contract by Prospeccion Y Desarrollo Minera del Norte (ProDeMin). Dr. Gibson has approved the scientific and technical disclosure in this news release.
Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in Mexico and British Columbia.
We seek safe harbor.
GARIBALDI RESOURCES CORP.
Per: "Steve Regoci"
Steve Regoci, President
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release.
SOURCE Garibaldi Resources Corp.