Garibaldi Plans for Extensive Drill Program in Mexico Fixed Wing Hyperspectral Survey Permitting Approved
Garibaldi Resources Corp.
(the "Company"), after two years of strategic acquisitions, controls
one of the largest land packages ever assembled by a junior exploration
company in Mexico. The Company’s eight district scale projects cover
approximately 4,000 sq. kms. of under-explored ground in the central
and northern parts of the Sierra Madre, the most extensive belt of
epithermal type gold-silver deposits in North America. All of these
projects, Morelos, Temoris, Iris, Tonichi, Onavas, Rodadero, Badesi and
Sianori were acquired because they cover broad areas of virtually
unexplored argillic alteration, similar to the alteration zones
associated with many of the world class deposits that have been
identified in the Sierra Madre. Garibaldi’s exploration
strategy involves utilizing state of the art remote sensing techniques
in conjunction with conventional exploration work to rapidly define
high priority target areas for drill testing.
Management
is pleased to announce the acquisition and deployment of the Company’s
first diamond drill rig to Morelos, its most advanced district scale
(36,000 hectares) project. The initial target is a road accessible zone
of low sulphidation type epithermal gold-silver mineralization referred
to as the El Indio prospect (localized within an extensive zone of
argillic alteration that was initially identified from satellite
imaging) which can be traced on surface for more than one kilometer. As
Garibaldi’s remote sensing exploration strategy unfolds and the
inventory of targets generated from the Company’s vast land position
grows, owning critical drilling equipment will ensure the scheduling
control required to evaluate the highest priority targets as they are
identified.
In
addition to the acquisition and deployment of the Company’s first
diamond drill rig, management is pleased to announce that the Company’s
wholly owned Mexican subsidiary Minera Pender has received permitting
from DGAC (Mexican Aviation Authority) to fly the planned hyperspectral
survey over all eight of the Company’s district scale projects. The
planned survey employs the most sophisticated remote sensing technology
available worldwide and is believed to be one of the most extensive
airborne hyperspectral surveys ever conducted in the Sierra Madre. The
survey data will compliment ongoing field programs by delineating
target areas within the broad argillic alteration zones that have
already been defined and the survey has now been scheduled for late
2007 or early 2008.
With
crews in place at Morelos, Garibaldi’s diamond drill rig will test
multiple target areas at Morelos and over the next year the Company
will continue to develop drill targets on all eight concessions in
Chihuahua State, Sonora State and Durango State utilizing both
hysperspectral surveys and state of the art technologies such as
Hyperion, ASTER-SWIR, Ikonos and QuickBird satellite imaging. Contracts
are in place with some of the most well known remote sensing
professionals in the world, including McDonald Detwiller and HyVista
Corporation. Management now believes that Garibaldi is uniquely
positioned amongst juniors in Mexico for potential exploration success
based on the quality of its projects, access to state of the art remote
sensing technology and in-house drilling capabilities. Results of
ongoing field work and drilling programs will be announced as they
become available.
GARIBALDI RESOURCES CORP.
per: "Steve Regoci"
Steve Regoci, President
