Garibaldi Resources Corp.

Published : August 22nd, 2014

Garibaldi Resources Corp. - High-grade silver and increasing base metal values sampled up to 3 km south of Silver Eagle discovery

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Keywords :   Copper | Diamond | G Mexico | Gold | Lead | Mexico | Silver | Zinc |

Garibaldi Resources Corp. - High-grade silver and increasing base metal values sampled up to 3 km south of Silver Eagle discovery

TSXV: GGI
OTC: GGIFF
Frankfurt : RQM

VANCOUVER , Aug. 22, 2014 /CNW/ - Garibaldi Resources Corp. (GGI.V) (the "Company" or "Garibaldi") is pleased to report that as Phase 2 Diamond drilling continues at its Silver Eagle target (Rodadero North Project) in central Sonora State, surface sampling results from mineralized outcrops indicate continued high silver values in addition to a significant increase in base metal content (up to 14.9% lead and 1.8% zinc) 1.5 km to 3 km south of discovery hole SE-14-01. 

Phase 1 drilling confirmed a shallow high-grade mineralized system open in all directions at Silver Eagle and apparently widening to the south toward the Reales area (see August 5, 2014 news release).  Further work is continuing to determine the relationship between the Silver Eagle and Reales targets.   

Steve Regoci , President and CEO of Garibaldi, commented: "The similarities of the silver grades in our sampling from Silver Eagle to the south are extremely encouraging.  This also correlates with our hyperspectral 'hot spot' signatures that initially identified the contiguous Silver Eagle and Reales targets.

"Importantly, as we track mineralization through Reales, we continue to sample high silver grades while the base metal content appears to increase substantially. To the east and southeast of Silver Eagle, we're investigating what seems to be predominantly gold-silver mineralization with some very high metal values from sampling as previously announced. The clustering of targets along a 10 kilometer distance at Rodadero North is the focus of an expanded exploration program."

Assays from a total of 23 rock samples selected 1.5 km to 3 km south of Silver Eagle ranged from 6.5 g/t Ag to 549 g/t Ag, and from 0.15% Pb to 14.9% Pb. Average values from these selected dump, grab and channel samples were 117 g/t Ag and 4.9% Pb.

Highlights from the sampling at Reales are as follows:

Sample No.

Target

Ag (g/t)

Pb (%)

865080

Reales central

549

5.8

865079

Reales central

210

13.1

26149

Reales central

198

4.4

121036

Reales central

110

11.4

121115

Reales central

18.9

14.9

62

Reales south

216

2.3

63

Reales south

336

4.8

64

Reales south

100

3.0

Four of the above samples from Reales central also returned elevated copper values ranging from 0.16% in sample no. 121036 to 0.66% Cu in sample no. 865080. Two samples (26149 and 865080) from Reales central returned zinc grades of 1.8% and 0.49%, respectively.

Sampling will soon be carried out over the northern section of Reales and additional areas throughout the target. 

By the nature of the biases of sampling, the above sampling results are not necessarily representative of mineralization at Rodadero North in general or, specifically, within the zones, structures or geological features that were sampled.

Sampling data from other target areas at Rodadero are being compiled and interpreted, and the Company looks forward to releasing additional results in the near future.

Updated Maps

A Rodadero Project map can be viewed by going to the following web site URL:

http://www.garibaldiresources.com/i/maps/Rodadero/GGI-Rodadero-Project-Map.pdf

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, and ALS Global (formerly ALS Chemex) performed analyses on rock samples. 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.

Qualified Person

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 Minero del Norte (ProDeMin). Dr. Gibson has reviewed this news release and approved the content thereof.

About Garibaldi

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.

Read the rest of the article at finance.yahoo.com
Data and Statistics for these countries : Mexico | All
Gold and Silver Prices for these countries : Mexico | All

Garibaldi Resources Corp.

EXPLORATION STAGE
CODE : GGI.V
ISIN : CA3660441054
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Garibaldi Res. is an exploration silver and gold company based in Canada.

Garibaldi Res. holds various exploration projects in Mexico.

Its main exploration properties are TEMORIS, IRIS, RODADERO, BADESI, ONAVAS, TONICHI, SIANORI and MORELOS in Mexico and KING, PRINCETON, BLACK GOLD and GRIZZLY in Canada.

Garibaldi Res. is listed in Canada. Its market capitalisation is CA$ 34.2 millions as of today (US$ 24.4 millions, € 22.4 millions).

Its stock quote reached its lowest recent point on December 30, 2002 at CA$ 0.02, and its highest recent level on October 27, 2017 at CA$ 5.27.

Garibaldi Res. has 71 192 125 shares outstanding.

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12/16/2009Welcomes Professional Geoscientist on to Board of Directors
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