TSXV: GGI
OTC: GGIFF
Frankfurt: RQM
VANCOUVER, June 28, 2016 /CNW/ - Garibaldi Resources
(TSX.V: GGI) (the "Company" or "Garibaldi") is pleased to announce
that crews have commenced a work program at the nearly 100 sq. km
Palm Springs Project (PSP) in northwest British Columbia's prolific Golden
Triangle.
The initial exploration focus is on Palm Springs West, an
under-explored target with historic high-grade gold, silver and
copper showings covering two claim blocks contiguous to Colorado
Resources' KSP Property. The program will then shift east to ground
immediately adjacent to the past producing Eskay Creek mine.
High-priority areas at Palm Springs West include:
- The "Ernie Creek" trend where intermittent quartz veining with
high-grade gold and copper mineralization is exposed over a
distance of 900 meters as reported by Noranda (MINFILE no. 20,845,
1990). Gold and copper values ranged from anomalous to 2.7 ounces
per tonne Au (84 g/t) and 3.1% Cu. This mineralization appears to
be associated with a linear structure that can be traced for a
distance of 4 km, and was never systematically followed up on;
- The "Central Zone" at Ernie Creek Canyon where surface rock
sampling returned high-grade gold values (anomalous to 26.5 g/t Au)
associated with favorable geology and structure (MINFILE no.
27,241, 2003);
- New surface mineralization exposed by receding glaciers.
Noranda in 1990 noted the discovery of more than 100 pieces of
highly angular mineralized float (Au, Ag and Cu) forming a boulder
train over 750 meters long on a glacier at the headwaters of East
Creek.
The Company cautions investors that dated historic sample assay
results, as defined by NI-43-101, have not been verified.
With its Palm Springs Project, the E&L nickel-copper-gold
deposit, and the King North and King
South properties, Garibaldi controls more than 150 sq. km in
this core part of the Golden Triangle. King North is already
permitted for drilling.
Area Map
Please visit www.GaribaldiResources.com or the following URL for
an updated Google Earth map highlighting Garibaldi's Palm Springs,
E&L and King projects:
http://www.garibaldiresources.com/i/photos/king/2016-06-28_GGI_Area_Map_Looking_South-King-Palm_Springs.pdf
Qualified Person
Mr. John Buckle, P.Geo.,
P.Geoph., a Qualified Person as defined by NI-43-01 regulations,
has reviewed and approved the scientific and technical disclosure
in this news release.
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.