TSX-V: GGI
Frankfurt: RQM
VANCOUVER, Sept. 27, 2012 /PRNewswire/ - Garibaldi Resources
Corp. (TSX-V: GGI) (the "Company") is pleased to announce that it
has acquired an option to purchase a 100% interest in the Aurora
concession, a 120 hectare inlier claim contiguous to the Company's
Locust drill target at the Tonichi
project, Sonora State, Mexico.
Garibaldi's ongoing exploration program at
Locust utilizing the Company owned diamond drill (see news release
of August 16, 2012) continues to test
a gold in soil anomaly within a significant zone of alteration that
extends onto the Aurora claim adjacent to the Locust drill target
to the south. The anomaly was originally defined by the Company's
fixed wing hyperspectral air survey. Drill results to date indicate
the potential for Locust to host a bulk tonnage gold deposit.
The agreement with the vendors includes a
commitment by Garibaldi to drill a minimum of 1,000 meters within
the first year of the option. The option payments over 4 years
total $650,000 USD and the terms of
the agreement are as follows:
First Year - $15,000
USD down payment (PAID) and two bi-annual payments of
$22,500 USD totaling $60,000 USD.
Second year- Two bi-annual payments of
$37,500 USD totaling $75,000 USD.
Third year - Two bi-annual payments of
$62,500 USD totaling $125,000 USD.
Fourth Year - Two bi-annual payments of
$195,000 USD totaling $390,000 USD.
Garibaldi's geologists have begun a sampling and
mapping program to delineate drill pad locations.
About the Tonichi Project:
The Tonichi project is located in
the prolific Sierra Madre Precious
Metal Belt eastern Sonora State, Mexico, and covers 47,000 hectares (please
visit www.garibaldiresources.com to view project maps). The project
land package abuts the properties surrounding several exploration
projects including Promontorio (Kootenay Silver) and the Luz de
Cobre-San Antonio de la Huerta (Red Tiger Mining, formerly Zaruma
Resources).
We seek safe harbour
GARIBALDI RESOURCES CORP.
per: "Steve Regoci"
Steve Regoci, President
The TSX Venture Exchange has not reviewed and
does not accept responsibility for the adequacy or accuracy of the
content of this News Release.
SOURCE Garibaldi Resources Corp.
Image with caption: "Tonichi Gold Project (CNW Group/Garibaldi
Resources Corp.)". Image available at:
http://photos.newswire.ca/images/download/20120927_C2103_PHOTO_EN_18558.jpg