Garibaldi owns a 100% interest in the 99-hectare La Patilla Property located in Sinaloa state, Mexico, and is currently studying ways to unlock the value of this asset for shareholders.
La Patilla was acquired as a potential near-term exploitation project. Several gold-bearing quartz veins and/or breccia bodies at La Patilla have drawn interest from artisanal miners for many years. The property features easy access, 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.
First-ever diamond drilling at La Patilla returned highly encouraging gold values near-surface including an interval grading 10.4 g/t gold over 8.5 metres in LP-14.
High Gold Recovery Rate from Metallurgical Testing
Garibaldi has also received excellent metallurgical results for the La Patilla vein system with a gold recovery rate of 95% from a flotation test carried out by the Mexican Geological Survey in Chihuahua City.
The analyzed head grade for a grab sample (7.9 kilograms) was 17.7 g/t gold. Material was taken from surface exposures in the vein system where previous drilling reported high-grade gold values. Garibaldi cautions that the head grade is not necessarily representative of mineralization at La Patilla in general or, specifically, within the zones, structures or geological features that were sampled for the metallurgical testing.