|October 23, 2014|
Garibaldi Makes New Surface Discovery North of Silver Eagle
|Vancouver, British Columbia, October 23, 2014 - Garibaldi Resources Corp. (TSX.V: GGI) (the "Company" or "Garibaldi") is pleased to report further expansion of near-surface mineralization similar to high-grade silicified rock discovered at the Silver Eagle target, part of its Rodadero Silver-Gold Project in Sonora State, Mexico. Phase 2 drilling continues at Silver Eagle in addition to extensive mapping and sampling along trend immediately north and south of the discovery zone and throughout the multiple target project area. Rodadero North stretches 10 km north-south and nearly 5 km east-west.|
Rodadero Update Highlights:
Steve Regoci, Garibaldi President and CEO, commented. "As we aggressively advance our 100%-owned Rodadero Project, the unsolicited interest and feedback we've received since news of discovery hole SE-14-01 reinforces our belief that we're seeing the emergence of a new mineral camp in this part of Sonora State. We've made better progress than expected on the ground during this challenging rainy season in Mexico with the rainy season now quickly drawing to a close.
"The extent and style of mineralization at the Rodadero targets including exceptional silver grades so close to surface at Silver Eagle have underscored the possibility of near-term exploitation potential, similar to the situation at our La Patilla Gold Property in Sinaloa State.
"Noteworthy at Rodadero is the fact that small-scale high-grade gold-silver production by a private operator is currently taking place several kilometers southeast of Silver Eagle and 2 km northeast of Tarachi on concessions contiguous to Garibaldi. Rapid progress at Rodadero will help position our shareholders to capture maximum leverage from our discovery."
Assay Results Pending
Currently, drilling is focusing on extending the mineralized system to the south of previously reported drill hole SE-14-06 (SE-14-13 is in progress). With continuous drilling at Silver Eagle, the Company will be reporting assay results in batches of approximately six to eight holes with the first set of assays from this second phase expected from the lab in the near future.
Updated Project Map
An updated Rodadero Project map can be viewed by going to the following web site URL:
Drill Core Photos
Drill core photos from both Phase 2 and Phase 1 drilling at Silver Eagle can be viewed by going to the following web site URL:
While Garibaldi is highly encouraged by initial drill results and other data collected at Silver Eagle and elsewhere at Rodadero to date, and at La Patilla, there has been insufficient exploration to define a mineral resource at either project, and it is uncertain if further exploration will result in any of the targets 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) is performing assay analyses on core reported in this release, and ALS Global (formerly ALS Chemex) is performing analyses on rock samples. All samples are assayed using certified and industry standard assay techniques for gold and multi-element packages for other elements and for over-limits. Au is analyzed by 30 or 50 gram fire assay with an atomic absorption finish, and other elements are analyzed by multi-element ICP. Samples in excess of 1,500 g/t Ag are 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 Desorrollo Minera del Norte (ProDeMin). Dr. Gibson has reviewed this news release and approved the content thereof.
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.
You can view the Next News Releases item: Fri Nov 7, 2014, Garibaldi Arranges $1 Million Financing To Fast Track Drilling At High-Grade Discovery In Mexico
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