VANCOUVER, Jan. 16, 2014 /CNW/ - Garibaldi Resources Corp. (TSX.V: GGI) (the "Company" or "Garibaldi") is pleased to provide an update on the first-ever diamond drilling program at its La Patilla Gold Property in Sinaloa State, Mexico, with the fifth hole of the shallow program currently in progress. Drilling started shortly before the Christmas break and resumed early this month.
Each of the holes has cut significant intervals of quartz veining similar to that which yielded gold values of as much as 28.4 g/t over 1.3 m and 7.5 g/t over 6.4 m in channel sampling recently carried out by Garibaldi. Core samples have been sent to the laboratory and results are pending.
Drilling is focusing on the Murcielago and La Patilla low sulfidation epithermal structures, and the program has been designed to test the continuity of mineralization at shallow depths and along strike. Highly encouraging surface mineralization has previously been outlined over a combined strike length of 225 meters and remains open in all directions as reported December 11, 2013.
Property maps showing location, geology, surface and underground sampling areas with full results, and proposed drill holes are available on the Garibaldi web site (www.GaribaldiResources.com).
In addition, Garibaldi looks forward to providing shareholders with a comprehensive update on its Tonichi Project in Sonora State shortly. Several early-stage and more advanced opportunities are being investigated at Tonichi, including the Locust Au-Cu target and a graphite zone discovered on a concession east of Locust. A pilot coal program on certain concessions at Tonichi continues to generate royalty income for the Company.
Garibaldi is pleased to announce the release of a second short corporate video. You can view both current videos by going to the Garibaldi homepage (www.GaribaldiResources.com) or by visiting the following URL:
Dr. Craig Gibson, Certified Professional Geologist and Director, is the 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 Desarrollo Minero del Norte (ProDeMin). Dr. Gibson has reviewed and approved the contents of 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 of Mexico and British Columbia.
We seek safe harbour.
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: www.GaribaldiResources.com