VANCOUVER, Nov. 20, 2015 /CNW/ - Garibaldi Resources Corp. (TSX.V: GGI) (the "Company" or "Garibaldi") is pleased to report that the Company has winterized its camp at Grizzly Central as it prepares for initial assay results from an ongoing first-ever drill program at its 100%-owned project in the heart of the robust 30-km long Sheslay mineralized corridor in northwest British Columbia.
The recently completed fourth hole, collared 600 meters west-southwest of GC-15-03 and 800 meters southwest of GC-15-01, was drilled adjacent to outcrop displaying intense potassic alteration and quartz veining containing chalcopyrite with traces of malachite and bornite. Notably, beginning at a depth of 139.8 meters and continuing to the end of the hole, GC-15-03 intersected a dark, strongly magnetic mafic unit with fine-grained pyrite along shear surfaces similar to that observed in GC-15-03 and GC-15-01.
After 14.5 meters of overburden, GC-15-04 immediately entered an intense silica chlorite-sericite breccia for 22 meters. This was followed by a 103-meter interval with sections of finely disseminated chalcopyrite and pyrite stringers in andesitic volcanoclastic rocks consistently chlorite-sericite altered, featuring approximately 5-15% quartz veins.
Steve Regoci, Garibaldi President and CEO, commented: "We continue to be extremely encouraged with what we're seeing in these widely-spaced initial holes at Grizzly Central which clearly offer the potential for yet another new discovery in this still very under-explored district.
"Given the Kaketsa pluton immediately to the west, the impressive development of the gold-rich Hat copper porphyry system to the east, and the cluster of porphyries to the north of Grizzly Central, we're exceptionally well-positioned, geologically, with the district's largest land package as well.
"We're eagerly anticipating initial assays and we look forward to providing shareholders with further updates as drilling progresses," Regoci concluded.
For maps and photos, please visit the Grizzly section on the Garibaldi website at GaribaldiResources.com.
To view a short Garibaldi video on the Grizzly Project and the Sheslay Corridor, please visit the Company's homepage or the following URL:
Corporate Fact Sheet
To view the updated corporate Fact Sheet for Garibaldi Resources, please visit the Company's homepage or the following URL:
While Garibaldi is very encouraged by the exploration results to date at the Grizzly, the Company wishes to emphasize that there is no certainty it will identify a deposit or resource on the property. In addition, other porphyry deposits in the Sheslay district may not be indicative of the mineralization that may be found on the Grizzly.
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.
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