Dr. Craig Gibson, a Garibaldi director and one of the leading geological authorities on Mexico, visits the La Patilla Property.
Drilling in Action
First-ever diamond drilling at La Patilla returned highly encouraging gold values near-surface including an interval grading 10.4 g/t Au over 8.5 meters in LP-14.
High Gold Recovery Rate from Metallurgical Testing
Garibaldi has received excellent metallurgical results for the La Patilla vein system with a gold recovery rate of 95 per cent from a flotation test carried out by the Mexican Geological Survey in Chihuahua City.
The analyzed head grade for the sample (7.9 kilograms) was 17.7 g/t Au. Material was taken from surface exposures in the vein system where previous drilling reported high-grade gold values. Garibaldi cautions that the head grade is not necessarily representative of mineralization at La Patilla in general or, specifically, within the zones, structures or geological features that were sampled for the metallurgical testing.
Garibaldi is working with Gainey Capital Corp., as per the companies' letter of intent signed earlier this year, to deliver mineralized material from La Patilla to Gainey's 300-tonne per day processing facility just 40 miles to the southeast. The recent metallurgical testing suggests that the vein material is very amenable to Gainey's flotation system.
La Patilla Phase 1 Drilling Highlights
- LP-14 intersected 10.4 g/t Au over 8.5 m within a wider 30 m interval grading 3.1 g/t Au;
- Five of six holes drilled to test the La Patilla vein system intersected broad zones of mineralization along 75 m of strike length to depths of approximately 50 m;
- Mineralization remains open in all directions, including at depth, and consists of gold bearing quartz veins and breccia bodies in an epithermal, low-sulphidation system.
The property is located in the municipality of El Rosario in Sinaloa State, Mexico, and was acquired by Garibaldi as a potential near-term exploitation project. Several gold-bearing quartz veins and/or breccia bodies at La Patilla have drawn interest from artisanal miners for many years. The property features easy access, relatively flat terrain at low elevations, and is surrounded by excellent infrastructure in an established mining district. Garibaldi has also negotiated a long-term agreement with the local community to allow for any potential future metal extraction on the property by the company.
Investors are cautioned that the planned processing of mineralized material from La Patilla is not based on a National Instrument 43-101 mineral resource or reserve estimate, preliminary economic assessment, prefeasibility study or feasibility study. As a result, there is no assurance that Garibaldi will be able to economically extract mineralization from La Patilla.