TSXV: GGI
OTC: GGIFF
Frankfurt: RQM
VANCOUVER, Jan. 10, 2017 /CNW/ - Further to its December 30, 2016, news release, Garibaldi
Resources Corp. (TSX:GGI) (the "Company" or "Garibaldi") is pleased
to report that crews have mobilized for immediate diamond drilling
at the Company's 100%-owned Tora Tora copper-gold-silver-PGE
prospect 15 miles north of the Copper Mountain mine near
Princeton, B.C.
Steve Regoci, Garibaldi President
and CEO, stated: "This is the start of a very active and pivotal
year for the Company in both British
Columbia and Mexico as we
ramp up at several projects, led by our flagship E&L
Ni-Cu-PGE-Au-Co deposit in the heart of northwest B.C.'s Golden
Triangle. Tora Tora is one of our promising early-stage B.C.
properties and is situated within a productive mineral belt
surrounded by excellent infrastructure.
"Initial diamond drilling should capture important new data and
quickly move Tora Tora up the valuation curve," Regoci continued.
"Coincident geophysical and geochemical targets will be tested with
a few widely-spaced drill holes in this first phase."
Limited historical drilling about 25 years ago intersected
highly anomalous gold and platinum values in one hole at Tora Tora,
according to MINFILE #092HNE170, and Garibaldi is planning to twin
that hole in an attempt to verify those results.
Garibaldi has patiently and cost effectively addressed the
challenges of advancing the 27 sq. km Tora Tora Property by
applying modern high resolution aeromagnetic & radiometric
geophysics to associate a magnetic anomaly with underlying areas of
geochemical response. Outcrop exposure is
limited.
High Power Exploration (HPX), a private mineral company
indirectly controlled by Robert
Friedland, owns a 75 sq. km claim package attached to the
western boundary of Tora Tora while Sego Resources is advancing its
Miner Mountain Project contiguous to the east of Garibaldi's
property.
Corporate Fact Sheet
To view the latest corporate Fact Sheet for Garibaldi Resources,
please visit the following URL:
http://www.garibaldiresources.com/i/pdf/GGI-Fact-Sheet-December-2016.pdf
Qualified Person
Mr. John Buckle, P.Geo.,
P.Geoph., a Qualified Person as defined by NI 43-101, 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.