VANCOUVER, Dec. 10, 2015 /CNW/ - Garibaldi Resources Corp. (TSX.V: GGI) (the "Company" or "Garibaldi") is pleased to report that first-ever drilling at Grizzly Central has intersected mineralized structures over a broad area along the "Kaketsa Corridor", a unique part of the prolific and under-explored Sheslay district in northwest British Columbia.
Assay results of initial core samples submitted to Bureau Veritas (formerly AcmeLabs) for the first three drill holes are expected shortly, and will be reported as soon as they are received, reviewed and interpreted. Bureau Veritas is carrying out multi-element fire assay analysis for each sample.
Garibaldi has constructed a fully winterized camp at Grizzly Central with geologists now in the process of determining specific locations for the next set of drill holes for this program beginning with GC-15-06. The distance between the five holes drilled to date is 1.2 km covering very prospective geophysical and geochemical signatures.
Steve Regoci, Garibaldi President and CEO, commented: "The Association For Mineral Exploration British Columbia refers to the Sheslay region as the province's #1 greenfield district. Initial drilling at Grizzly Central, one of seven regional target areas at the nearly 300 sq. km Grizzly Project, is further underscoring the potential of this district to host multiple deposits and an exciting array of mineralization styles."
For maps and photos, please visit the Grizzly section on the Garibaldi website at GaribaldiResources.com.
Mexico Update: Garibaldi Prepares For Fresh Drilling at Rodadero High-Grade Discovery
Further to the Company's November 10, 2015, news release, Garibaldi has been working diligently to advance its operations in Sonora, Sinaloa and Chihuahua states during this period of intense activity in British Columbia, particularly at the Grizzly.
Garibaldi's company-owned drill rig in Mexico has been mobilized to its Rodadero Project camp in central Sonora where a high-grade zone has been outlined through 15 shallow drill holes at Silver Eagle. In addition, high-grade gold and silver values have been obtained from surface sampling at 11 additional target areas over this 50 sq. km, 100%-owned project. A recent review and analysis of surface exploration results will guide this next phase of drilling.
SE-14-15, the last drill hole completed at Silver Eagle, returned 11.1 oz/ton Ag over 19.8 feet (346 g/t Ag over 6 m) in a significant step-out (500 feet or 150 meters) to the north of discovery hole SE-14-01 (65 oz/ton over 23.1 feet or 2,010 g/t Ag over 7 m). True widths are estimated at 80% of downhole core lengths.
"It's more cost effective for us to drill now and over the coming months at Rodadero as opposed to during the rainy season which recently ended," stated Regoci. "Between the Grizzly and Rodadero, we look forward to a robust start to 2016. More updates will soon follow on these two flagship projects, as well as other prospects we're advancing."
Corporate Fact Sheet
To view the updated corporate Fact Sheet for Garibaldi Resources, please visit the Company's homepage or the following URL:
To view short Garibaldi videos on the Grizzly and Rodadero Projects, please visit the Company's homepage or the following URL:
While Garibaldi is very encouraged by the exploration results to date at both the Grizzly and Rodadero projects, the Company wishes to emphasize that there is no certainty it will identify a deposit or resource on either project.
Mr. Adrian Smith, P.Geo., an on-site consultant for the Company's Grizzly Project and a Qualified Person as defined by NI-43-01 regulations, has reviewed this news release and approved the contents thereof with respect to the Grizzly Project. Dr. Craig Gibson, Certified Professional Geologist and a director of Garibaldi, is a non-arms-length Qualified Person for the Company's Mexico projects and the direct manager of the technical programs operated under contract by Prospeccion Y Desorrollo Minera del Norte (ProDeMin). Dr. Gibson has reviewed this news release and approved the contents thereof with respect to the Rodadero Project.
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
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release.
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