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Garibaldi confirms discovery of shallow high-grade system at Silver Eagle target in Mexico
SECOND STAGE OF DRILLING TO COMMENCE IMMEDIATELY TSXV: GGI OTC: GGIFF Frankfurt : RQM ...
About this update from Garibaldi Resources Corp.
[{"type":"text","content":"\n\nSECOND STAGE OF DRILLING TO COMMENCE IMMEDIATELY\n\nTSXV: GGIOTC: GGIFF Frankfurt: RQM\n\n\n\nVANCOUVER, Aug. 5, 2014 /CNW/ - Further to its news releases of May 14, 2014, and June 19, 2014, Garibaldi Resources Corp. (TSX.V: GGI) (the \"Company\" or \"Garibaldi\") is pleased to report that several additional diamond drill holes have confirmed the discovery of a shallow, high-grade mineralized system with apparent open-pit potential at the Company's Silver Eagle target (Rodadero North Project) in central Sonora State, Mexico. A second stage of drilling is starting immediately with SE-14-07 and will continue through the Mexican rainy season.\n\nHighlights:\n\n\nDrilling along almost 100 meters of strike length has returned significant high-grade silver intersections within 50 meters of surface, and mineralization remains open in all directions; \nSE-14-03 intersected 1,935 g/t Ag (62.2 oz/t) between 4 and 5 meters' depth while the most recent hole (SE-14-06) - the farthest step-out from previously reported discovery hole SE-14-01 - has produced the widest mineralized intercept to date; \nSurface sampling at three target areas immediately southeast and east of Silver Eagle has returned high-grade silver (up to 8,000 g/t Ag) in addition to high-grade gold (up to 52.6 g/t Au) as explained further in this update; \nAs Garibaldi commences a second round of drilling at Silver Eagle, the total number of mineralized target areas within the 45 sq. km Rodadero North Project has increased from eight to 11.\nSteve Regoci, Garibaldi President and CEO, commented: \"The shallowness of this mineralization at Silver Eagle is striking, and that may have important implications as we continue to advance this target and the overall project. The potential scale of the mineralizing system at Rodadero North is evident by the number of 'hot spot' signatures defined by our hyperspectral remote sensing data. Follow-up surface sampling of these silicified zones and the excellent drill results at Silver Eagle suggest the possibility that some of these targets may be the collective surface expression of a very robust system.\n\n\"Given these exciting developments at Rodadero North, upcoming second stage drilling at the La Patilla Gold Property - another shallow potential deposit - and of course the Grizzly Cu-Au Porphyry Project that we're vigoro...