La Patilla channel sampling returns strong gold values; Garibaldi to commence immediate drill program at La Patilla
VANCOUVER, Dec. 11, 2013 /PRNewswire/ – Garibaldi Resources Corp. (TSX.V: GGI)
(the “Company” or “Garibaldi”) is pleased to report that exploration
carried out by the Company has returned strong gold values from channel
sampling at its recently acquired La Patilla Property, and a drill
program is ready to begin. These results include separate sample
intervals grading 28.4 g/t Au over 1.3 meters, 7.5 g/t Au over 6.4 m, 6.2 g/t Au over 3.3 m, and 5.8 g/t Au over 7.9 m at the Murcielago breccia, and 13.5 g/t Au over 1.3 m at the La Patilla vein system contiguous to the southeast (sample
widths are estimated true widths).
With its company-owned rig assigned to the Tonichi Project, Garibaldi
has contracted a Sinaloa based drilling company for a first-ever
diamond drilling program at La Patilla commencing immediately.
Drilling at La Patilla will focus on the Murcielago and La Patilla low
sulfidation epithermal structures, testing the continuity of
mineralization at shallow depths and along strike. To date, highly
encouraging surface mineralization has been outlined over a combined
strike length of 225 meters and remains open in all directions. The
host rocks are silicified rhyolite tuffs underlain by andesite.
Property maps showing location, geology, sampling areas with full
results, and proposed drill hole locations are available on the
Garibaldi web site (www.GaribaldiResources.com).
La Patilla is located in the municipality of El Rosario in Sinaloa
State, Mexico, and was acquired by Garibaldi as a potential near-term
exploitation project. Several gold-bearing quartz veins and/or breccia
bodies at La Patilla have drawn interest from artisanal miners for many
years. The property features easy access, relatively flat terrain at
low elevations, and is surrounded by excellent infrastructure in an
established mining district. Garibaldi has also negotiated a long-term
agreement with the local community to allow for any potential future
metal extraction on the property by the Company.
Importantly, the recent extensive geological mapping, channel and rock
sampling completed by Garibaldi at La Patilla has independently
validated data compiled since 2010 through surface exploration by
ProDeMin, the private Mexican company Garibaldi acquired the property
from earlier this year. Garibaldi’s work has also identified
additional targets throughout the 100-hectare property that warrant
The tables below include selected channel sample results (length
weighted averages) obtained by both Garibaldi and ProDeMin at La
Garibaldi Resources Corp. Channel Sampling Murcielago Breccia La Patilla Vein System Sample Width (m) Au (g/t) Sample Width (m) Au (g/t) 26463-65 6.4 7.5 125905 1.1 3.6 26466-69 7.9 5.8 125907 1.1 5.0 26470-71 3.3 6.2 125920 0.9 3.6 26472-74 4.3 4.4 31193 1.3 13.5 26459-61 4.7 9.4 31197 0.8 8.7 Includes 26459 1.3 28.4 26598-60 4.9 2.2 125956-62 11.3 3.4 includes 26598 1.6 3.3 Includes 56-60 8.1 4.0
Note: Samples 26463-65 through 26472-74 were taken across structure
along an east-west strike of 20 meters.
ProDeMin Channel Sampling Murcielago Breccia La Patilla Vein System Sample Width (m) Au (g/t) Sample Width (m) Au (g/t) 9260 3 6.0 9272-3 3.3 4.7 9262 2 3.1 Includes 9272 1.7 8.1 9263 1.9 5.3 9243 & 9266 5.3 8.6 9264 0.8 2.4 9246-48 5.8 4.7 9265 0.8 7.9 Includes 9246 2 7.4 9249 0.5 38.0
While Garibaldi is very encouraged by the known mineralized structures
and the data collected at La Patilla to date, there has been
insufficient exploration at the property to define a mineral resource,
and it is uncertain if further exploration will result in the target
being delineated as a resource.
Tonichi Project Update
Garibaldi is pleased to report that all drill core from MAR-13-03, one
of the longest holes (253 meters) completed at the Locust target, has
been logged, split and submitted for assaying. MAR-13-03 was drilled
with the Company’s own rig to follow up on the discovery of a supergene
zone in MAR-13-02 including a 104.6-meter interval grading 0.24 g/t Au
and 0.16% Cu as reported by the Company November 7, 2013. To date, 16
diamond drill holes at Locust have outlined a broad envelope of
near-surface mineralization that measures at least 5 km along trend and
1-2 km across. The Company is looking forward to results from
MAR-13-03 which will guide the next phase of drilling at this important
target, the most advanced of several Garibaldi has identified at the
large Tonichi Project.
Live Webinar and Corporate Video
Garibaldi will be conducting a live investor Webinar Monday, December
16, beginning at 1:15 p.m. Pacific (4:15 pm Eastern) through
MarketSmart Communications Inc., official investor relations for
Garibaldi. Log-in instructions for this presentation can be found on
the Garibaldi homepage (www.GaribaldiResources.com).
Garibaldi is also pleased to announce the release of a short corporate
presentation (video). You can view the video by going to the following
web site URL:
Garibaldi samples ranged from about 1.5 kg to more than 4.5 kg and were
prepared and analyzed by Acme labs by 2 assay ton fire assay with an AA
finish at their facilities in Mexico and Nevada. Samples of ProDeMin
were analyzed by Geoquimica de Mexico of Chihuahua by fire assay
Dr. Craig Gibson, Certified Professional Geologist and Director, is the
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 Desarrollo Minero del Norte (ProDeMin). Dr. Gibson has
reviewed and approved the contents of this news release.
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 of Mexico and British Columbia.
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.