Garibaldi Resources Corp. (GGI, TSX-V) Update
Two “Perfect Storms” are now brewing for Garibaldi Resources Corp. (GGI, TSX-V), one in Mexico where drilling continues and the other in the Sheslay Valley, northwest B.C., where a very “pregnant” Cu-Au porphyry district could soon attract national attention…no wonder the Garibaldi multi-year chart is looking so attractive…the fundamentals are quickly lining up, especially after the news regarding La Patilla at the end of last week…
It’s important to remember that in Mexico, GGI has a track record of delivering value for shareholders…in 2009, GGI sold its Temoris option in a significant deal that has allowed the company not to have to carry out a financing since that time…few companies on the Venture can lay claim to the fact that they haven’t diluted their stock in the last five years…that’s a hugely important factor for Garibaldi and its shareholders entering this summer given the intense market activity that could easily emerge over the Sheslay Valley (not to mention Mexico)…there is little paper “overhang” that can hold GGI back on one or more catalysts…
As most readers know, we just recently returned from a Sheslay area visit…the scale and potential of this district are truly enormous…we’ve seen it from the air and the ground…the Sheslay district is breathtaking in its scope and we believe it’s going to produce the most exciting area play British Columbia has witnessed in many years, perhaps since the days of Eskay Creek…we continue to compile information for special report coverage in May…every company in the area offers something unique and exciting…Garibaldi’s distinct advantage (besides share structure) is that it controls more than half of the mineralized “corridor” identified to date as it begins to ramp up toward first-ever drilling…
In the meantime, things are getting HOT for GGI in Mexico…
Drilling Discovery At La Patilla – 10.4 g/t Au over 8.5 m in LP-14
When a Gold property is drilled for the first time, and returns thick intercepts of mineralization near-surface including some high-grade, this demands attention…five holes out of six “hit” within 40-50 meters of surface in first-pass drilling at the La Patilla vein system, and the intercepts closely approximate true width (important) along a strike length of 75 meters…one can easily see how a modest deposit, but potentially quite significant for a junior such as Garibaldi, could come together at La Patilla if the next phase of drilling builds on the tonnage that is already evident…
Besides LP-14, other intercepts included 38.9 m @ 0.8 g/t Au (LP-03); 31.6 m @ 0.8 g/t Au (LP-10); 13.7 m @ 0.9 g/t Au (LP-02); and 10.8 m @ 1.9 g/t Au (LP-12)…these results represent a highly encouraging start for Garibaldi at La Patilla…they have something to build on and an important trail to follow…
Is there a deeper, even higher-grade source for this near-surface mineralization?…that’s an unanswered question at the moment but Garibaldi is anxious to find out…that’s one reason why La Patilla is being quickly moved along to the Phase 2 drill stage (Rodadero and Iris are also being drilled for the first time, Rodadero right now)…
Based on these initial results, with first-pass metallurgical testing now in progress, Garibaldi is clearly on track with its goals for La Patilla but market expectations will be higher for the next phase…keep in mind that this property features easy access and relatively flat terrain at low elevations and is surrounded by excellent infrastructure in an established mining district…Garibaldi has also negotiated a long-term agreement with the local community to allow for any potential future metal extraction on the property by the company…
A drilling discovery has been confirmed at La Patilla…this appears to be a stockwork vein system and it’s currently open in all directions for expansion…between developments in both Mexico and the Sheslay Valley, there is now some serious action in GGI that’s likely going to continue non-stop for the foreseeable future…as always, perform your own due diligence…
Two “Perfect Storms” are now brewing for Garibaldi Resources Corp. (GGI, TSX-V), one in Mexico where drilling continues and the other in the Sheslay Valley, northwest B.C., where a very “pregnant” Cu-Au porphyry district could soon attract national attention…no wonder the Garibaldi multi-year chart is looking so attractive…the fundamentals are quickly lining up, especially after the news regarding La Patilla at the end of last week…
It’s important to remember that in Mexico, GGI has a track record of delivering value for shareholders…in 2009, GGI sold its Temoris option in a significant deal that has allowed the company not to have to carry out a financing since that time…few companies on the Venture can lay claim to the fact that they haven’t diluted their stock in the last five years…that’s a hugely important factor for Garibaldi and its shareholders entering this summer given the intense market activity that could easily emerge over the Sheslay Valley (not to mention Mexico)…there is little paper “overhang” that can hold GGI back on one or more catalysts…
As most readers know, we just recently returned from a Sheslay area visit…the scale and potential of this district are truly enormous…we’ve seen it from the air and the ground…the Sheslay district is breathtaking in its scope and we believe it’s going to produce the most exciting area play British Columbia has witnessed in many years, perhaps since the days of Eskay Creek…we continue to compile information for special report coverage in May…every company in the area offers something unique and exciting…Garibaldi’s distinct advantage (besides share structure) is that it controls more than half of the mineralized “corridor” identified to date as it begins to ramp up toward first-ever drilling…
In the meantime, things are getting HOT for GGI in Mexico…
Drilling Discovery At La Patilla – 10.4 g/t Au over 8.5 m in LP-14
When a Gold property is drilled for the first time, and returns thick intercepts of mineralization near-surface including some high-grade, this demands attention…five holes out of six “hit” within 40-50 meters of surface in first-pass drilling at the La Patilla vein system, and the intercepts closely approximate true width (important) along a strike length of 75 meters…one can easily see how a modest deposit, but potentially quite significant for a junior such as Garibaldi, could come together at La Patilla if the next phase of drilling builds on the tonnage that is already evident…
Besides LP-14, other intercepts included 38.9 m @ 0.8 g/t Au (LP-03); 31.6 m @ 0.8 g/t Au (LP-10); 13.7 m @ 0.9 g/t Au (LP-02); and 10.8 m @ 1.9 g/t Au (LP-12)…these results represent a highly encouraging start for Garibaldi at La Patilla…they have something to build on and an important trail to follow…
Is there a deeper, even higher-grade source for this near-surface mineralization?…that’s an unanswered question at the moment but Garibaldi is anxious to find out…that’s one reason why La Patilla is being quickly moved along to the Phase 2 drill stage (Rodadero and Iris are also being drilled for the first time, Rodadero right now)…
Based on these initial results, with first-pass metallurgical testing now in progress, Garibaldi is clearly on track with its goals for La Patilla but market expectations will be higher for the next phase…keep in mind that this property features easy access and relatively flat terrain at low elevations and is surrounded by excellent infrastructure in an established mining district…Garibaldi has also negotiated a long-term agreement with the local community to allow for any potential future metal extraction on the property by the company…
A drilling discovery has been confirmed at La Patilla…this appears to be a stockwork vein system and it’s currently open in all directions for expansion…between developments in both Mexico and the Sheslay Valley, there is now some serious action in GGI that’s likely going to continue non-stop for the foreseeable future…as always, perform your own due diligence…
