TSXV: GGI
OTC: GGIFF
Frankfurt: RQM
VANCOUVER, Dec. 10, 2015 /CNW/ - Garibaldi Resources Corp.
(TSX.V: GGI) (the "Company" or "Garibaldi") is pleased to report
that first-ever drilling at Grizzly Central has intersected
mineralized structures over a broad area along the "Kaketsa
Corridor", a unique part of the prolific and under-explored Sheslay
district in northwest British
Columbia.
Assay results of initial core samples submitted to Bureau
Veritas (formerly AcmeLabs) for the first three drill holes are
expected shortly, and will be reported as soon as they are
received, reviewed and interpreted. Bureau Veritas is carrying out
multi-element fire assay analysis for each sample.
Garibaldi has constructed a fully winterized camp at Grizzly
Central with geologists now in the process of determining specific
locations for the next set of drill holes for this program
beginning with GC-15-06. The distance between the five holes
drilled to date is 1.2 km covering very prospective geophysical and
geochemical signatures.
Steve Regoci, Garibaldi President
and CEO, commented: "The Association For Mineral Exploration
British Columbia refers to the Sheslay region as the province's #1
greenfield district. Initial drilling at Grizzly Central, one of
seven regional target areas at the nearly 300 sq. km Grizzly
Project, is further underscoring the potential of this district to
host multiple deposits and an exciting array of mineralization
styles."
For maps and photos, please visit the Grizzly section on the
Garibaldi website at GaribaldiResources.com.
Mexico Update: Garibaldi Prepares For Fresh Drilling at
Rodadero High-Grade Discovery
Further to the Company's November 10,
2015, news release, Garibaldi has been working diligently to
advance its operations in Sonora,
Sinaloa and Chihuahua states
during this period of intense activity in British Columbia, particularly at the
Grizzly.
Garibaldi's company-owned drill rig in Mexico has been mobilized to its Rodadero
Project camp in central Sonora
where a high-grade zone has been outlined through 15 shallow drill
holes at Silver Eagle. In addition, high-grade gold and silver
values have been obtained from surface sampling at 11 additional
target areas over this 50 sq. km, 100%-owned project. A recent
review and analysis of surface exploration results will guide this
next phase of drilling.
SE-14-15, the last drill hole completed at Silver Eagle,
returned 11.1 oz/ton Ag over 19.8 feet (346 g/t Ag
over 6 m) in a significant step-out (500 feet or 150 meters) to the
north of discovery hole SE-14-01 (65 oz/ton over 23.1 feet
or 2,010 g/t Ag over 7 m). True widths are estimated at 80%
of downhole core lengths.
"It's more cost effective for us to drill now and over the
coming months at Rodadero as opposed to during the rainy season
which recently ended," stated Regoci. "Between the Grizzly and
Rodadero, we look forward to a robust start to 2016. More updates
will soon follow on these two flagship projects, as well as other
prospects we're advancing."
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
Project Videos
To view short Garibaldi videos on the Grizzly and Rodadero
Projects, please visit the Company's homepage or the following
URL:
http://www.garibaldiresources.com/s/Media.asp#Grizzly
Cautionary Statement
While Garibaldi is very encouraged by the exploration results to
date at both the Grizzly and Rodadero projects, the Company wishes
to emphasize that there is no certainty it will identify a deposit
or resource on either project.
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 with respect to
the Grizzly Project. 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 Desorrollo Minera del Norte (ProDeMin). Dr. Gibson
has reviewed this news release and approved the contents thereof
with respect to the Rodadero Project.
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.