When the “truth machine” speaks and delivers near-surface and first-ever drilling results (from separate properties) like 65 oz/ton Ag (2,010 g/t) over 7 m, and 10.4 g/t Au over 8.5 m, an investor would be wise to pay attention because opportunity is probably knocking on the door.
Given what appears to be a “Perfect Storm” brewing between Mexico and northwest British Columbia, Garibaldi Resources (GGI, TSX-V) gained fresh momentum last week and reached its highest levels in nearly three years.
As a step-out hole proceeds at the Silver Eagle discovery at the Rodadero Project, where hyperspectral remote sensing technology may have produced another game-changing find for this company, BMR requested and was granted an interview with GGI President and CEO Steve Regoci. Below are the first excerpts (pertaining to Rodadero and Mexico) of that interview in our two-and-a-half minute video format (more in the near future, including a fascinating piece on the Sheslay district).
Click on the arrow on the image below to view Part 1 of this interview with Regoci.
Note: Both Jon and John hold share positions in GGI.
Jon,do you know when they started drilling rodadero,and I take it the step out is being drilled as we speak, then it shouldn’t be long befour results are in on the step out, still ,looking very nice for ggi and us who are holding and being patient.
Comment by Tom — May 19, 2014 @ 8:11 am
Hi Tom, GGI announced April 24 they had commenced drilling at Rodadero, so just right before that I’m sure is when they started. What I like about GGI’s chances at Rodadero – and our chances as investors – is that they really performed their DD over this land package thru mapping, sampling, and the use of hyperspectral remote sensing technology. That’s the same technology that allowed them to succeed with the Temoris option. It doesn’t always give you an ore body, of course, but it’s very effective at pinpointing high probability areas for mineralization and potential deposits, and then you just follow that trail. The fact they’ve outlined 8 targets at Rodadero North, some of which Regoci says appear even better than Silver Eagle, wow…we may be on to something big here. You take that expertise and apply it to the Grizzly and the Sheslay Valley, and GGI has the potential to turn into one of the best exploration success stories in the business this year – more drilling at Rodadero, follow-up drilling at La Patillia, initial drilling at Iris, and then of course we have the big show coming up in the Sheslay district. Strong management, very compelling.
Comment by Jon - BMR — May 19, 2014 @ 8:48 am
Yes Jon I agree, fortunate I got in at 9, but even at 26 this is in my opinion still a good place to get in. I’m going to add in the morn. They may have to take the flagship and place it in Mexico for a bit.lol. If the step out hits the hell with the drills, bring in the backhoes.3 properties that all have huge potential, ggi will not pop, it will burst. It will be worth the wait.thankyou bmr for bringing ggi to my attention about a year ago. Watched a clip on vit.v. Kinda interesting, not sure if you have knowledge on this one, whenever you have time, your thoughts? Thanks.
Comment by Tom — May 19, 2014 @ 9:20 am
Tom, VIT (Victoria Gold) has a substantial Gold resource in the Yukon — it likely bottomed late last year, and at some point it’ll probably take off again – excellent leverage to a higher Gold price, that would be the way to play it.
Comment by Jon - BMR — May 19, 2014 @ 9:41 am
Thanks for that, my main focus of course is ggi, have some abr aix,I’ll still keep a half an eye on vit, again, thanks. Don’t have any dbv, but I think it was ob on anticipation, not surprised it dropped, but there not done by any means, now would be a good time to get in.pgx and their team will prove that this whole valley is a winner.just my opinion.
Comment by Tom — May 19, 2014 @ 10:09 am
Jon: Do you see a Summer Rally as we have been doing this base-buildng for the past few weeks….i think Venture usually does OK in June too….
Comment by STEVEN1 — May 19, 2014 @ 10:37 am
Absolutely I see a great summer ahead, Steven, with the base building continuing for a little while longer, followed by a summer breakout, and summer is only about a month away…we have an updated 3-year weekly chart for the Venture tomorrow that has been incredibly reliable for many months, and should continue to be…from a technical standpoint, I believe the key will come toward the end of June when the Venture’s 300-day reverses to the upside….all heck will break loose over the summer IMHO when people least expect it, and the Sheslay Valley will be a key part of that equation…Prosper drilling starts any day now, DBV has the Red stock to chase at the Hat, and GGI has targets all over the place and they’ve demonstrated they know how to hit targets…
Comment by Jon - BMR — May 19, 2014 @ 10:47 am
Came across this interesting article today at 321gold – copied one of the paragraphs below, included a link to the full article for anyone who would like to read it. Worth checking out.
Read at 321Gold website (May 19, 2014)…
The “Green Rush”: Is the Grass Always Greener on the Other Side?
Kal Kotecha
Posted May 19, 2014
Has the Rush Changed Colours from Gold to Green?
Reminiscent of the mid-1800’s gold rush, currently some are seeing a rush of a different hue. Most notably referred to as the “Green Rush”, there has been a bout of North American resource exploration companies who are diversifying away from their struggling sector into the medical marijuana industry. Most do not even have a medical marijuana license or seedlings but that has not stopped investors from eagerly snatching up shares and driving up stock prices at the inkling of pot related news. Thelon Capital (THC) and Satori Resources (BUD) have seen share prices quadruple in the past month after appointing a weed consultant to their boards. Next Gen Metals (NXTTF) share price jumped from about 5.5 cents to more than 70 cents after sending out a series of pot-related press releases.
Comment by Ceci — May 19, 2014 @ 2:25 pm
Hey guys, can someone explain to me what DBVs “red stock” is, and what is it’s significance? Thanks!
Comment by Steve — May 19, 2014 @ 3:11 pm
Steve, we’ll be getting into this more in the coming week, but the Sheslay “Red Stock” identified by DBV is an intrusive (syeno-gabbro) – unquestionably, quite large though of course the exact size and shape have yet to be determined – that has deep-rooted origins and could contain a high-grade potassic core. It’s referred to as “Red” because of its distinctive alteration – there are some core pictures on the DBV site. In otherwords, the main Cu-Au alkalic deposit at the Hat may not be in the host rocks but in the “Red Stock”…Hole #12, as reported, apparently cut through the top section of this intrusive (interesting Gold grades) which has been observed in other holes as well…it appears that a pyrite-rich cap characterizes the shallower levels of the preserved Red Stock porphyry at the Hat (fits a model)…it should get very interesting as DBV tries to take aim at the Red Stock and hit it square-on….that’s a major challenge, of course, but one that DBV’s technical team I believe is up to…within this Red Stock, what DBV will be looking for are higher grades (massive chalcopyrite, for example) and some very long intersections….ultimately, this could go really deep so that the Hat potentially could not only be an open-pit, but a future underground operation as well…..at Red Chris, near Iskut, the “Red Stock” there is a 4.5 km x 1.5 km elongated body intruding the Stuhini volcanic and sedimentary rocks which outcrop to the N-NW….one 150-m section returned about 4% Cu and 8 g/t Au below a 400-m depth……interesting question, is it the “Red Stock” at the Hat which is outcropping to the southeast at the Hoey and other areas??? There are a lot of unknowns here, but in layman’s terms, nature has cooked up something very intriguing at the Hat and in this part of the Sheslay corridor (that’s why we’re so bullish as well on ABR – highly strategic ground – plus GGI of course has Hat East)….the type of deposit(s) here could have significantly different characteristics than what’s seen at Prosper’s Star porphyries, and Pyrrhotite Creek and parts of the Grizzly could be different as well…..there is one mother of a heat engine up in the Sheslay Valley that has generated all of this, and some more answers are going to start rolling in over the summer…this is absolutely fascinating. This is speculative, of course, but I’m convinced we’re not only going to see multiple world class porphyry deposits across a wide area in the Sheslay district, but some serious high-grade “shoots” and zones as well – and that’s going to be the kicker to really make all of this economic……geologically, this is a phenomenal story unfolding in NW BC and it’s going to go “ka-boom” in the market over the summer…
Comment by Jon - BMR — May 19, 2014 @ 4:11 pm
Jon very good comment about Red Rock thanks !
Comment by Guy Delisle — May 19, 2014 @ 6:22 pm
Jon, isn’t ABR right there beside this Red Stock???
Comment by STEVEN1 — May 19, 2014 @ 7:49 pm
ABR is not just BESIDE something, Steven1, they are likely right ON TOP of something given the structural trend, some limited geophysics data, and the known gold/copper occurrences (with some high grades I might add) all along the border of the Hackett adjoining the Hat…the size and shape of the Red Stock has yet to be determined – keep in mind, the Red Stock at the Red Chris is at least 4.5 km long and 1.5 km wide…..if DBV has a Red Monster at the Hat, its arms and legs will likely stretch right across to the Hackett and beyond…the information regarding the Red Stock went right over the heads of most market observers last week, just like the important intersection in the 6th hole DBV drilled last year in round 1 that hit the edge of the mineralized system and perhaps the western edge of the Red Stock…..hugely significant development in the Sheslay district as this particular part of the corridor becomes even more fascinating and potentially prolific…
Comment by Jon - BMR — May 19, 2014 @ 8:04 pm