VANCOUVER, June 28, 2016 /CNW/ - Garibaldi Resources (TSX.V: GGI) (the "Company" or "Garibaldi") is pleased to announce that crews have commenced a work program at the nearly 100 sq. km Palm Springs Project (PSP) in northwest British Columbia's prolific Golden Triangle.
The initial exploration focus is on Palm Springs West, an under-explored target with historic high-grade gold, silver and copper showings covering two claim blocks contiguous to Colorado Resources' KSP Property. The program will then shift east to ground immediately adjacent to the past producing Eskay Creek mine.
High-priority areas at Palm Springs West include:
- The "Ernie Creek" trend where intermittent quartz veining with high-grade gold and copper mineralization is exposed over a distance of 900 meters as reported by Noranda (MINFILE no. 20,845, 1990). Gold and copper values ranged from anomalous to 2.7 ounces per tonne Au (84 g/t) and 3.1% Cu. This mineralization appears to be associated with a linear structure that can be traced for a distance of 4 km, and was never systematically followed up on;
- The "Central Zone" at Ernie Creek Canyon where surface rock sampling returned high-grade gold values (anomalous to 26.5 g/t Au) associated with favorable geology and structure (MINFILE no. 27,241, 2003);
- New surface mineralization exposed by receding glaciers. Noranda in 1990 noted the discovery of more than 100 pieces of highly angular mineralized float (Au, Ag and Cu) forming a boulder train over 750 meters long on a glacier at the headwaters of East Creek.
The Company cautions investors that dated historic sample assay results, as defined by NI-43-101, have not been verified.
With its Palm Springs Project, the E&L nickel-copper-gold deposit, and the King North and King South properties, Garibaldi controls more than 150 sq. km in this core part of the Golden Triangle. King North is already permitted for drilling.
Please visit www.GaribaldiResources.com or the following URL for an updated Google Earth map highlighting Garibaldi's Palm Springs, E&L and King projects:
Mr. John Buckle, P.Geo., P.Geoph., a Qualified Person as defined by NI-43-01 regulations, 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
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, Web Site: GaribaldiResources.com