Garibaldi program targets area near historical high-grade gold showing at Grizzly South

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VANCOUVER, Feb. 24, 2016 /CNW/ - Garibaldi Resources is pleased to report that its newly-acquired Golden Bear claims, approximately 7 km southeast of the recently drilled Ultra 1 Zone discovery at Grizzly Central in the prolific Sheslay District, show evidence of gold-enriched structural zones broadly associated with highly anomalous copper geochemical anomalies. 

The 14 sq. km claim package acquired last year forms the Grizzly South regional target area and includes the historical Wolverine high-grade gold showing (ARIS 20945), a gold-rich 8-meter massive sulfide vein along the northern boundary, discovered during construction of the Golden Bear mine road in the late 1980's. 

Garibaldi's field program has identified new overlapping gold and copper-in-soil anomalies and expanded historical ones that measured at least 1.1 km in length and 700 meters in width over both the northwest and southern sections of the claims.

A high priority target is the northwest area, approximately 1.2 km southwest of the Wolverine showing, where anomalous gold-in-soil (up to 1.1 g/t Au) sampled by Garibaldi crews is located within a broad north-south trending structural zone.  Identifying the source of highly elevated gold-in-soil for a potential drill target will be the focus of upcoming work. 

Historically, various operators invested significant exploration dollars on geological, geochemical and geophysical surveys for the Golden Bear claims without ever drill testing any of the anomalous areas which Garibaldi will now follow up on.

Steve Regoci, Garibaldi President and CEO, stated:  "With seven regional centers covering 300 sq. km at Grizzly, we're building a big pipeline of high value targets from each sector. The discovery of the large-scale and exotic Ultra 1 Zone on first-ever drilling at Grizzly Central, 2 km from the Kaketsa 'heat engine', suggests the potential for multiple new finds.  Grizzly South appears to be another style of exciting mineralization following the Ultra 1 Zone discovery of thick intersections of high-grade magnesium, nickel and scandium in widely-spaced drill holes, while Grizzly West is a well-defined copper-gold porphyry target.

"We eagerly anticipate updating shareholders in the very near future with regard to the Ultra 1 Zone discovery as soon as important metallurgical information is received and reviewed," Regoci added.

Visit the Grizzly section of the Garibaldi web site (www.GaribaldiResources.com) for additional information on the Ultra 1 Zone and the entire 300 sq. km project, and the following URL to directly view a map outlining the 7 Grizzly regional target areas:

http://www.garibaldiresources.com/i/maps/Grizzly/Grizzly-regional-target-areas-feb2016.pdf

Quality Assurance & Control

Soil and rock samples were processed at the Bureau Veritas Commodities Canada Ltd. Lab located in Vancouver, B.C. The rock samples were pulverized to 200 mesh and analyzed using aqua regia digestion with ICP-MS analysis. All samples were subject to in-house QA/QC control checks performed by Bureau Veritas including running standard, blank and duplicate samples in line with the Golden Bear soil and rock samples.

Qualified Person

Adrian Smith, P.Geo., an on-site consultant for the company's Grizzly Project and a Qualified Person as defined by National Instrument 43-101 regulations, has reviewed this news release and approved the contents thereof.

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.