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Garibaldi poised to drill Rambo gold target

Last updated: 23:59 19 Feb 2016 AEDT, First published: 18:59 19 Feb 2016 AEDT

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The firm said recent mapping and sampling has suggested three spots surrounding the Silver Eagle deposit could be viable for further drilling.

Garibaldi Resources (TSE:GGI) has uncovered  three new mineral horizons at the Rodadero silver-gold project in Mexico.

The firm, which is preparing for a new round of drilling at a different target area – called Rambo – said recent mapping and sampling, has suggested three spots surrounding the Silver Eagle deposit, around 350 meters north of discovery hole SE-14-01, could be viable for further drilling.

Steve Regoci, president and chief executive, said: “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 2km and hosts multiple lenses with average grades of 600 grams per ton of gold and widths of 1-5 meters.”

"The latest sampling to the west and the north further expands the Silver Eagle mineralized footprint," Regoci added, "and also suggests that gold could be present in these new areas as well, though this will require confirmation through additional drilling.”

Crews are preparing to drill-test Rambo - the separate potential new discovery area - where a small-scale mining operation is extracting near-surface high-grade gold and silver from two main veins, he added.

Crushed vein material is being shipped to a nearby smelter in central Sonora State. 

The firm said it is now refining its exploration and development strategies at Silver Eagle accordingly, as well as finalizing drilling plans at Rambo. 

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