Resource World Magazine

12 www.resourceworld.com F E B R U A R Y / M A R C H 2 0 1 5 costs (net of by-product credits) are US $616/oz. Initial capital costs, including a 17.2% contingency, is US $970 million. Inferred resources were not included in the mine plan. The company said that considerable cleanup and repair of exist- ing mining-related impacts would begin in parallel with construction and would continue through the life of the open pit mining operation. GARIBALDI RESOURCES CORP. [GGI-TSXV; RQM-FSE] Garibaldi Resources Corp. has two min- eral discoveries in Mexico. In May 2014, the company reported exceptionally high silver grades within 30 metres of surface in first- ever drilling at its 45 km 2 Rodadero North Project in central Sonora State, Mexico. The first hole at the Silver Eagle target (SE-14- 01) returned 2,010 g/t silver (65 oz/ton) over 7 metres, including 3 metres grading 4,565 g/t silver (147 oz/ton). In August 2014, Garibaldi reported that drill hole SE-14-03 intersected 1,935 g/t silver (62.2 oz/ton) between 4 and 5 metres in depth while the most recent hole (SE-14-06), the farthest step-out from previously reported discovery hole SE-14- 01, has produced the widest mineralized intercept to date. Hole SE-14-06, collared approximately 85 metres south of SE-14- 01, returned a consistent, well-mineralized 24.4-metre section within 46.5 metres of surface, including 262 g/t silver (8.4 oz/ ton) and 4.1% lead over 4.6 metres. Surface sampling at three target areas immediately southeast and east of Silver Eagle has returned high-grade silver (up to 8,000 g/t silver) in addition to high-grade gold (up to 52.6 g/t). High-grade silver mineralization has been confirmed from channel sampling 150 metres north of Silver Eagle discov- ery hole SE-14-01 at the Rodadero North Project. This area is being drill-tested in an attempt to expand the Silver Eagle system in a northerly direction. Garibaldi also reported first-ever diamond drilling at the La Patilla gold property in Sinaloa, Mexico returned 10.4 g/t gold over 8.5 metres in hole LP-14. In BC, Garibaldi has identified a new zone of porphyry copper mineralization 3 km south of its Grizzly West porphyry tar- get in the emerging Sheslay Valley copper camp west of Dease Lake where a staking rush has been taking place. CARMAX MINING CORP. [CXM-TSXV] Carmax Mining Corp. keeps discovering more mineralization at its 100%-owned Eaglehead copper-gold-molybdenum-silver property 48 km east of Dease Lake, north- ern British Columbia. The property was already known to host an inferred resource of 103 million tonnes averaging 0.29% copper, 0.010% molybdenum and 0.08 g/t gold. This repre- sents 662 million lbs copper, 22 million lbs molybdenum and 265,000 oz gold. A Quantec Titan-24 geophysical survey carried out last fall, combined with his- torical and current drill results, outlined a large, positive chargeability anomaly that appeared to be mineralized over a 4,500- metre long portion of the anomaly. Four of six known zones of mineralization occur within the 4,500 metres that suggested these zones were part of a much larger con- tiguous zone of mineralization. This new geophysical data was fol- lowed up by more drilling that resulted in encouraging copper and gold values over substantial widths. Diamond drill hole DDH0121 intersected 0.23% cop- per, 0.013% molybdenum, 0.06 g/t gold and 0.91 g/t silver (0.37% copper equiva- lent) over a core interval of 521.2 metres. DDH0122 intersected 0.28% copper, 0.016% moly, 0.14 g/t gold and 1.52 g/t silver (0.43% copper equivalent) over 116 metres. In late November, Carmax received assays results for the last two drill holes in the fall program. DDH0123 intersected 0.27% copper equivalent over a core inter- val of 183.3 metres that included 0.60% copper, 0.005% moly, 0.11 g/t gold and 3.3 g/t silver (0.74% copper equivalent) over 24 metres starting at a core depth of 124 metres. DDH0124 intersected a copper

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