TSX-V: GGI
Frankfurt: RQM
VANCOUVER,
Aug. 16, 2012 /PRNewswire/ -
Garibaldi Resources Corp. (TSX.V: GGI) (the "Company") reports that
it continues to intercept significant widths of mineralization (see
news release of April 24, 2012) at
the ongoing Locust drill program, located at the Company's 100%
owned Tonichi project in Sonora
State, Mexico. To date, 5 diamond
drill holes have been completed using the Company's NQ diamond
drill, for a total of 1180.8 meters drilled, with an additional
hole in progress. An additional 50 to 70 meters will be added on
hole number 6 before starting hole number 7. Hole LCT-12-5 has
encountered gold mineralization of 0.33 g/t Au over 63.85 meters
and hole LCT-12-6 encountered 24.5 meters of 0.45 g/t Au.
Assay results from all holes are summarized in the table
below. Note that data from some holes was previously released
but is included here for completeness.
Selected assay results from the Locust
target.
| |
|
|
|
|
|
| Drill Hole |
|
From |
To |
Interval (m) |
Au g/t |
| Results as Previously
Reported |
| LCT-11-01 |
Some
anomalous Au from 35.0 to 80.0 meters |
|
| LCT-11-02 |
Some
anomalous Au from 23.0 to 43.0 meters |
|
| LCT-11-03 |
|
141.05 |
155.00 |
13.95 |
1.25 |
| |
|
|
|
|
|
| |
|
167.00 |
173.80 |
6.80 |
0.33 |
| LCT-11-04 |
|
55.00 |
61.40 |
6.40 |
1.12 |
| |
|
|
|
|
|
| New
Results |
| LCT-12-05 |
|
79.50 |
83.85 |
4.35 |
0.48 |
| |
|
|
|
|
|
| |
|
96.00 |
159.85 |
63.85 |
0.33 |
| includes |
|
98.00 |
108.00 |
17.25 |
0.51 |
| and |
|
131.75 |
137.00 |
5.25 |
0.72 |
| LCT-12-06 |
|
143.00 |
167.50 |
24.50 |
0.45 |
| includes |
|
148.80 |
167.50 |
18.70 |
0.48 |
| |
Anomalous gold are values of 0.1 to 0.33 g/t Au. |
Steve Regoci,
President of the Company, stated, ''The style of mineralization
evident is similar to a number of recent discoveries in the region.
These early results are consistent with the potential for Locust to
host a bulk tonnage gold deposit."
Holes 5 and 6 tested a breccia with quartz and
barite in the matrix and appear to have cut the same body separated
by about 120 meters. It is unclear whether hole 3, a further
200 meters west, cut this same body or is a separate structure.
Hole 4 explored a separate structure identified by mapping.
Holes 1 and 2 tested a stratigraphic model for mineralization in
the layered volcanic sequence.
About the Tonichi Project:
The Tonichi
project is located in the prolific Sierra
Madre Precious Metal Belt eastern Sonora State, Mexico, and covers 47,000 hectares (please
visit www.garibaldiresources.com to view project maps). The project
land package abuts the properties surrounding several exploration
projects including Promontorio (Kootenay Silver) and the Luz de
Cobre-San Antonio de la Huerta (Red Tiger Mining, formerly Zaruma
Resources).
Quality Assurance:
Garibaldi has conducted a QA/QC program whereby
blind sample blanks are inserted in the drill core sample stream
prior to being sent to the laboratory. Samples were prepared
and analyzed by ALS Chemex in their facilities in Mexico and Vancouver, respectively. Samples generally
consisted of 1-3 kg of material. Gold analyses were performed by 30
gram fire assay with an AA finish. Silver and the base metals were
analyzed as part of a multi-element ICP package using an aqua regia
digestion.
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.
GARIBALDI RESOURCES CORP.
per: "Steve Regoci"
Steve Regoci, President
The TSX Venture Exchange has not reviewed and
does not accept responsibility for the adequacy or accuracy of the
content of this News Release.
SOURCE Garibaldi Resources Corporation