TSXV: GGI
OTC: GGIFF
Frankfurt: RQM
VANCOUVER, Aug. 14, 2015 /CNW/ - Garibaldi Resources Corp.
(TSX.V: GGI) (the "Company" or "Garibaldi") is pleased to report
that seven RC holes have been completed by Layne Drilling at the Company's 100%-owned La
Patilla Gold Property in Sinaloa State, Mexico. Assays are
pending, and results will guide the next phase of exploration at
this property where a shallow high-grade zone was discovered last
year (10.4 g/t Au over 8.5 meters in LP-14).
Five of the seven holes targeted the La Patilla vein system, to
test for continuity of high-grade mineralization along strike and
down dip in the vein area as cut in several holes in 2014, while
two holes were successfully completed at the adjacent Murcielago
breccia.
Meanwhile, in advance of delivering stockpiled material from the
vein system to the nearby Gainey Capital Corp. mill, Garibaldi has
received highly encouraging metallurgical results with a recovery
rate of 95% for a flotation test carried out by the Servicio
Geologico Mexico (Mexican Geological Survey) in Chihuahua
City.
The analyzed head grade for the sample (7.9 kg) was 17.7 g/t
Au. The sample was taken from surface exposures in the La
Patilla vein system where previous drilling reported high-grade
gold values. Garibaldi cautions that the head grade is not
necessarily representative of mineralization at La Patilla in
general or, specifically, within the zones, structures or
geological features that were sampled for the metallurgical
testing.
Steve Regoci, Garibaldi President
and CEO, commented: "The high gold recovery rate from the
metallurgical work helps confirm that the mineralized material from
the La Patilla veins is very amenable to the flotation system used
at Gainey's processing center. We're continuing preparation work to
advance this important part of the project at La Patilla.
"We are active on several fronts and we look forward to
providing shareholders with additional updates on developments at
our key projects in Mexico and
British Columbia over the next few
weeks."
British Columbia Update - Grizzly Project
Crews are mobilizing for a fresh round of surface exploration,
commencing in the next few days, that will determine final drill
targets at the 270 sq. km Grizzly Project in northwest B.C.'s
prolific Sheslay district.
Crews will be focusing on the highly promising Grizzly Central
area as well as the newly-acquired Golden
Bear claims, featuring an historical high-grade gold
showing, adjoining the Grizzly to the south.
"Indeed this will be a busy and exciting summer at the Grizzly
as productive discussions with all stakeholders concerning this
emerging world class district are giving us great encouragement,"
stated Regoci.
Qualified Person
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
Desarrollo Minero del Norte (ProDeMin). Dr. Gibson has
reviewed this news release and approved the contents thereof.
About Garibaldi
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.