VANCOUVER, Jan. 20, 2017 /CNW/ - Garibaldi Resources (TSX:GGI) (the "Company" or "Garibaldi") is pleased to report that it has completed the first two drill holes of a Phase 1 maiden diamond drilling program at its 100%-owned Tora Tora Property near Princeton, B.C., approximately 25 kilometers north of the producing Copper Mountain mine.
The holes were collared 250 meters apart and were drilled to depths of nearly 200 meters, deeper and further north than any of the several historical holes that were completed at Tora Tora 25 years ago. Targets were selected based on coincident geochemical and geophysical anomalies.
Drill core samples are being sent immediately to an accredited lab in Vancouver for analysis. Given a favorable alteration package intersected in both of these first-ever Garibaldi drill holes at Tora Tora, a series of additional drill holes will be completed at the property following receipt and review of the initial assay results expected in February.
Steve Regoci, Garibaldi President and CEO, commented: "These first holes at Tora Tora have provided great encouragement to our geological team given the very grassroots nature of this property and valuable new information that's rapidly accumulating. We look forward to continuing to advance Tora Tora during this first quarter."
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Mr. John Buckle, P.Geo., P.Geoph., a Qualified Person as defined by NI 43-101, has reviewed and approved the scientific and technical disclosure in this news release.
Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in Mexico and British Columbia.
We seek safe harbor.
GARIBALDI RESOURCES CORP.
Per: "Steve Regoci"
Steve Regoci, President
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SOURCE Garibaldi Resources Corp.
For further information: GARIBALDI RESOURCES CORP., 1150 - 409 Granville Street, Vancouver, BC, V6C 1T2, Telephone: (604) 488-8851, Website: GaribaldiResources.com