Garibaldi Resources Corp.
TSX VENTURE : GGI

Garibaldi Resources Corp.

March 03, 2009 09:01 ET

Garibaldi's Fixed Wing Hyperspectral Survey Defines Multiple New Targets

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 3, 2009) - Garibaldi Resources Corp. (the "Company") (TSX VENTURE:GGI) is pleased to announce continuing progress with the Company's remote sensing program in Mexico's Sierra Madre. This prolific mineral belt extends for over 1,000 kilometers in western Mexico and hosts literally hundreds of epithermal and porphyry style gold, silver and base metal deposits many of which exhibit extensive hydrothermal alteration. Garibaldi controls eight regional scale projects comprising over 300,000 hectares in the northern part of the Sierra Madre and the Company's exploration strategy is to utilize a combination of sophisticated remote sensing technology and conventional "boots on the ground" exploration methods to priorotize the best targets in these areas.

As previously reported, in 2008 the Company completed a fixed wing hyperspectral survey covering most of the Company's projects in Mexico. This technology has been proven to be effective in identifying the altered rocks that are associated with numerous metallic mineral deposits, especially hydrothermal related deposits similar to many of the most recent discoveries made in the Sierra Madre. Results from Garibaldi's Tonichi, Badesi and Onavas concessions have now been processed and multiple high priority targets have been identified.

The 126 bandwidth hyperspectral survey data provides far superior resolution than space borne platforms such as ASTER and has the ability to identify the specific hydrothermal alteration minerals (such as dickite and alunite) that are commonly associated with epithermal and porphyry related deposits. This capability makes it theoretically possible to delineate the "hydrothermal alteration halo" associated with known mineral deposits provided that bedrock is not masked by overburden or vegetation cover. As part of the survey, Garibaldi acquired hyperspectral data from several known epithermal and porphyry mineral deposits in the northern part of the Sierra Madre and this "library" of "test case hyperspectral responses" was utilized to evaluate the hyperspectral responses within its own concessions.

The new targets on Garibaldi's concessions exhibit alteration features that are very similar to the "test case hyperspectral responses" obtained from the known gold - silver epithermal and porphyry deposits. The observed responses include linear zones of highly altered volcanic rocks (up to three kilometers in length) which are typical of the responses observed at known epithermal deposits and broad, irregular zones of alteration that are similar to the alteration responses observed in areas of known porphyry style mineralization. When the hyperspectral data is viewed in conjunction with high resolution satellite imagery, there is a strong correlation of hyperspectral responses with gossanous zones which, in some cases, show evidence of historic exploration activity such as skid roads and trenches.

The Tonichi, Badesi and Onavas concessions initially comprised over 200,000 hectares of Garibaldi's vast land holdings in Mexico and using conventional exploration methods it would have taken years and millions of exploration dollars to assess these concessions. Based on the comparative analysis of the hyperspectral survey data, the Tonichi, Badesi and Onavas concessions will now be reduced to several much smaller, target-focused concessions.

To illustrate the effectiveness of the hyperspectral survey, an image comparing the clay alteration response (kaolinite - dickite - alunite) at Alamos Gold's Mulatos Project (Estrella Pit) and the clay alteration response at one of the targets identified on Garibaldi Resources Tonichi Project is attached to this press release (This image is available at: http://media3.marketwire.com/docs/ggi33m1.pdf). The response from the target located on Garibaldi's concession is obviously similar to the hyperspectral response obtained from the Estrella Pit area (the main mineralized area at Alamos Gold' Mulatos property) and clearly warrants a detailed ground follow-up.

Each of the new target areas identified by the hyperspectral survey could represent a large, previously un-recognized epithermal gold - silver or porphyry type occurrence. After three years of planning, Garibaldi has succeeded in completing the hi-tech portion of its Mexico strategy and will now focus on adding value to these newly defined targets, in each of which it holds a 100% interest. Joe Zamudio, PhD., is the qualified person for reviewing and assessing the hyperspectral data. Joe is familiar with all aspects of hyperspectral surveys and is well regarded as one of the best hyperspectral experts in the field of remote sensing.

Processing of the hyperspectral data for the remaining blocks is ongoing and results will be released as they become available. Alteration images for all of the defined target areas will be posted on the Company's website as soon as possible.

GARIBALDI RESOURCES CORP.

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.

Contact Information