Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Garibaldi Resources (TSX.V: GGI) (the “Company” or “Garibaldi”) is pleased to announce that crews have mobilized for work programs at its 100%-owned King Project in the heart of northwest British Columbia’s Golden Triangle. King North and Garibaldi’s recently acquired King South claims, totaling 50 sq. km, adjoin Seabridge Gold’s Iskut Project and cover several gold, silver and base metal prospects that were discovered in the late 1980’s near the historic Snip mine.
King North is currently permitted for drilling and Garibaldi crews this month will be focusing on prioritizing drill targets there. One area of strong interest is Chubby Creek where structurally controlled high-grade gold mineralization was historically identified through sampling along NE trending pyritic shear zones cutting volcanics and sediments. Nearly 30 years later, these mineralized showings are now being followed up.
Geological studies completed by the B.C. Geological Survey in 2011 concluded that the under-explored rock units extending north from the Iskut River, encompassing the King Project, are the same as those hosting the Snip, Eskay Creek and KSM deposits.
Recent extensions of the Iskut River access road, the completion of a bridge to the north side of the river, and construction by AltaGas of the Forrest Kerr and McLymont power stations will significantly reduce the cost of more extensive exploration at the King Project.
With its King, Palm Springs and E&L projects, Garibaldi controls more than 150 sq. km in this core region of the Golden Triangle where Pretium Resources is advancing its Brucejack mine toward production in 2017.
For a Google Earth view of Garibaldi’s properties, plus other key projects in the heart of the Golden Triangle, please visit www.GaribaldiResources.com or the following URL:
http://www.garibaldiresources.com/i/photos
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