TSXV: GGI
OTC: GGIFF
Frankfurt: RQM
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.
Grizzly Video
To view a short Garibaldi video on the Grizzly Project and the
Sheslay Corridor, please visit the Company's homepage or the
following URL:
http://www.garibaldiresources.com/s/Media.asp#Grizzly
Corporate Fact Sheet
To view the updated corporate Fact Sheet for Garibaldi
Resources, please visit the Company's homepage or the following
URL:
http://www.garibaldiresources.com/i/pdf/GGI_Factsheet.pdf
Cautionary Statement
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.
Qualified Person
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.
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.