Welcome!

News Feed Item

Garibaldi broadens mineralized corridor at Grizzly, prepares to accelerate 2014 exploration plans

TSXV: GGI
OTC: GGIFF
Frankfurt: RQM

VANCOUVER, March 13, 2014 /PRNewswire/ - Garibaldi Resources Corp. (TSXV: GGI) (the "Company" or "Garibaldi") is pleased to report that recent reconnaissance work carried out over western portions of its Grizzly Property in the Sheslay Valley, northwest British Columbia, has identified a new zone of porphyry copper mineralization 3 km south of its Grizzly West porphyry target and 3 km west-southwest of Prosper Gold Corp.'s Pyrrhotite Creek prospect in an area referred to as West Kaketsa. Garibaldi is the largest landholder among juniors in the Sheslay district and controls approximately 26,200 hectares in claims. The results of this program suggests potential to significantly broaden a NW/SE trending corridor of porphyry targets that extends for over 30 km through the Sheslay Valley from the western end of the Grizzly Property through Grizzly Central to the recently announced Grizzly East expansion claims.

Given highly encouraging results in the western and central parts of the Grizzly Property, Garibaldi is accelerating its 2014 plans at the Grizzly by launching an aggressive Phase 1 exploration program to include detailed mapping, geochemistry, IP surveys and drilling.  The initial stages of this work will commence in the next few weeks and the results will determine the scale of a planned Phase 2 program. Garibaldi is in a strong working capital position and is looking forward to advancing the Grizzly Project concurrently with its assets in Mexico.

"The importance of the discoveries recently announced by Prosper Gold and Doubleview Capital Corp., located approximately 10 km apart on properties within the Sheslay corridor, is the scale of mineralization over such wide distances. Confirmation of another significant porphyry target area several km south of Grizzly West underscores the world class potential of this growing mineralized Cu-Au porphyry corridor in the Sheslay Valley," explained Steve Regoci, Garibaldi President and CEO.  "Garibaldi has captured more than 50% of this very prospective corridor with multiple targets already identified from Grizzly West to Grizzly Central through geophysical and geochemical surveys. We're very excited about advancing the Grizzly to a first-ever drilling stage."

West Kaketsa Mineralization Similar To Grizzly West, Pyrrhotite Creek

The extent of the newly discovered mineralized area at West Kaketsa is yet to be determined but it's located approximately 1 km north of the historic West Kaketsa prospect (B.C. Minfile # 104J-024) and appears to be related to a fault that extends at least 3 km to Pyrrhotite Creek on the eastern flank of Mount Kaketsa.  Garibaldi's upcoming program at the Grizzly Property includes plans to further define this new zone with IP surveys and identify potential drill targets.

Petrographic analysis of mineralization from both the West Kaketsa and Grizzly West prospects has confirmed that both areas exhibit classic porphyry-style copper-gold mineralization including hydraulic brecciation, disseminated chalcopyrite and intense alteration within a hydrothermal environment. Garibaldi's reconnaissance work identified the new mineralized zone while following up on an encouraging airborne magnetic and radiometric survey completed last fall over western portions of the Grizzly Property.

The airborne survey confirmed that West Kaketsa, like Grizzly West, is in a region of strong magnetic activity and structure, the latter indicating faults and fractures in the intrusive bodies favorable for mineralizing fluids along the contact zones of the Mount Kaketsa monzonite granodiorite stock. Historic technical reports describe porphyry mineralization at West Kaketsa as being similar to mineralization observed at Pyrrhotite Creek.  Prosper Gold has reported that Pyrrhotite Creek is a large mineralized zone with multiple porphyry targets located 3 km southwest of the Star porphyries in the SW corner of its Sheslay Property adjoining the Grizzly.

Grizzly West

Last fall's airborne survey shows that Grizzly West is on the periphery of a large magnetic anomaly, in a similar setting to targets on the adjoining Sheslay Property.  A soil geochemical survey has defined several strong copper anomalies open in multiple directions at Grizzly West with the grid covering an area approximately 1.5 km x 1.5 km.  Fieldwork at this target has confirmed historical reports (Corona Resources) of mineralization with reported grades ranging from 0.20% Cu to 6.7% Cu in rock chip samples.

Maps - West Kaketsa & Grizzly West

Maps showing location, sampling areas and full results from recent work completed at West Kaketsa and Grizzly West are available on the Garibaldi web site at www.GaribaldiResources.com.

To view a 2.5-minute video on the Grizzly Property and the Sheslay Valley, please visit the following URL: http://www.garibaldiresources.com/s/Media.asp#video1

Qualified Person

Carl von Einsiedel, P.Geo., a non-independent geological consultant and a Qualified Person as defined by NI-43-101 has reviewed this release and approved the content thereof.

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.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Enterprises have forever faced challenges surrounding the sharing of their intellectual property. Emerging cloud adoption has made it more compelling for enterprises to digitize their content, making them available over a wide variety of devices across the Internet. In his session at 19th Cloud Expo, Santosh Ahuja, Director of Architecture at Impiger Technologies, will introduce various mechanisms provided by cloud service providers today to manage and share digital content in a secure manner....
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.