Garibaldi Resources Corp.
TSX VENTURE : GGI

Garibaldi Resources Corp.

December 17, 2009 08:45 ET

Garibaldi Commences Drilling of the Rembles Gold Prospect on Its 100% Owned Tonichi/Onovas Property in Sonora, Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 17, 2009) - Garibaldi Resources Corp. (the "Company") (TSX VENTURE:GGI) is pleased to announce the commencement of a 1200 m diamond drill program to test the Rembles prospect, one of multiple targets identified on the Company's 100% owned 48,000 hectare Tonichi/Onovas concessions in Sonora State, Mexico. The Rembles prospect is a northeast-southwest striking, up to 50 m wide, quartz-hematite breccia zone with grab samples grading up to 21.7 g/t Au. A total of 8 diamond drill holes are planned using the company's NQ diamond drill rig to test the gold mineralization over the exposed 300 m strike-length. The mineralization is also open to the northeast and southwest where it continues under a thin layer of overburden.

The Rembles prospect occurs approximately 20 km south of the Company's recently announced (see news release dated October 29, 2009) Locust "gold in soil" geochemical target which was initially identified as a direct result of the Company's high resolution hyperspectral survey. Both prospects are situated on the Company's strategic Tonichi/Onovas concessions which cover a major portion of the highly prolific Laramide porphyry copper-molybdenum-gold belt and clearly outlines the untapped exploration potential of this area. The property is notable for broad visually impressive alteration systems which are well mapped by the hyperspectral survey and are thought to represent untested porphyry centers.

Mineralization at Rembles was initially discovered by Garibaldi field geologists as part of the Company's "Rapid Assessment Protocol" follow-up exploration strategy to ground truth and sample historic workings where present in the southern portion of Tonichi/Onovas. The structurally controlled mineralized breccia zones similar to the Rembles prospect in the district are considered important for epithermal gold mineralization and are believed to have temporal and spatial correlations with deeper mineralized porphyry intrusive systems. The property is straddled by several well known porphyry copper-molybdenum and epithermal gold deposits including the Cuatros Hermanos, Cerro Verde and the San Antonio deposits in addition to several other historic mines.

The Rembles target is easily accessible by a recently completed 3km drill road and occurs in a heavily vegetated area of the Sonora desert approximately 1 km west of the Yaqui River. This is a major river system cutting through the southern part of the property and provides the water supply for drilling. The Rembles prospect area is well situated for low cost exploration and future mine development.

The drill program at Rembles will coincide with a follow-up trenching and field mapping program in the Locust area in the northern part of the property. Assay results for both programs will be released as they become available. Richard T. Osmond, P.Geo., a Qualified Person under the meaning of Canadian National Instrument 43-101, is responsible for the technical content of this news release.

GARIBALDI RESOURCES CORP.

Steve Regoci, President

Investors are invited to visit the Garibaldi Resources IR Hub at http://www.agoracom.com/IR/Garibaldi where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to GGI@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

Contact Information

  • Garibaldi Resources Corp.
    Drew Farion
    Investor Relations
    Cell: (604) 961-7555 or Office: (604) 488-8851
    www.garibaldiresources.com