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Garibaldi prepares to drill Rambo gold target new mineral horizons outlined at Silver Eagle

EBR Staff Writer Published 23 February 2016

Garibaldi Resources 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.

Source: Company Press Release