VANCOUVER, Feb. 19, 2016
TSXV: GGI
OTC: GGIFF
Frankfurt: RQM
/CNW/ - Garibaldi Resources Corp. 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.
Rodadero Maps & Photos
For additional information on the Rodadero Project, please visit
the Garibaldi web site at www.GaribaldiResources.com or the
following URL:
http://www.garibaldiresources.com/s/Rodadero.asp
Cautionary Note
While Garibaldi is highly encouraged by initial drill results
and other data collected at Silver Eagle to date, there has been
insufficient exploration to define a mineral resource and it is
uncertain if further exploration will result in this target 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) performed
assay analyses on core from all 15 holes drilled to date at Silver
Eagle as reported March 5, 2015. 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. Samples in excess of 1,500 g/t Ag were
analyzed by gravimetric methods.
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 Minera del Norte (ProDeMin). Dr. Gibson has approved the
scientific and technical disclosure in this news release.
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.