Garibaldi drills 23.89 metres of 1.45 g/t gold at the Locust Project
VANCOUVER, March 14, 2013 /PRNewswire/ – Garibaldi Resources Corp. (TSXV: GGI)
(the “Company”) is pleased to report assay results from its recently
completed hole LCT-13-10 at the Locust drill target in Sonora State,
Mexico. The hole intersected 23.89 metres of 1.45 g/t gold, including a
2 meter interval that assayed 9.27 g/t gold (see table below). To date
10 holes have been drilled at the project for a total of 1,898.7
Table of selected results from hole LCT-13-10 at Locust. Drill From To Interval Au g/t Cu % Hole (m) LCT-13-10 22.50 46.39 23.89 1.45 - includes 28.40 30.40 2.00 9.27 -
Hole LCT-13-10 was collared on the Aurora concession that was optioned
by the Company in 2012 (see news release dated September 27, 2012).
Three holes, LCT-12-07, LCT-12-09 and LCT-13-10, have been completed on
the Aurora concession for a total of 522 meters of the 1000 meters
required in the first year of the option agreement. Sampling has
identified areas with anomalous rock geochemistry for gold and copper
on the surface, and all three drill holes cut significant intervals of
gold and/or gold-copper mineralization at shallow depths.
Exploration activity at the project has been focused on mapping and
sampling of the entire Locust target area including the concessions
optioned in 2012. The work completed to date indicates the presence of
a large mineralized system. A mineralized strike length of
approximately 1.5 kilometres has been delineated at the surface by
mapping and sampling, and about half of this large system has been
drill tested at shallow depths with widely spaced holes. In general,
most of the holes have intersected significant widths of Au and Au-Cu
mineralization (see news release dated February 28, 2012).
Gold-copper mineralization is associated with intermediate intrusive
rocks and tourmaline breccia bodies and is interpreted to be related to
a large porphyry system. Other porphyry systems are known in the
region, including the nearby Cuatro Hermanos deposit (Virgin Metals),
the San Javier deposit, and the Suaqui Verde deposit (Evrim Resources
and Inmet Mining). Company geologists have also identified an
apparently later gold mineralizing event associated with quartz-barite
matrix breccia bodies.
Steve Regoci, President and CEO of the company stated, “The results from
hole LCT-13-10 continue to validate the gold-copper mineralized zone
mapped at the Locust target and most importantly demonstrates the
potential for higher grades at shallow depths. The next hole will test
another quartz tourmaline breccia recently mapped.”
Dr. Craig Gibson, PhD., Certified Professional Geologist, and a Director
is the Qualified Person for the Tonichi Project and the direct manager
of the technical programs operated under contract by Prospeccion y
Desarrollo Minero del Norte (ProDeMin). Dr. Gibson has reviewed and
approved the contents of this News Release.
We seek safe harbour.
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
SOURCE Garibaldi Resources Corp.