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Garibaldi consolidates footprint around E&L, GGI adds 41 sq. km of key ground including 6 km of "Red Line"
Garibaldi consolidates footprint around E&L, GGI adds 41 sq. km of key ground includin...
About this update from Garibaldi Resources Corp.
[{"type":"text","content":"\n\n\n\nGaribaldi consolidates footprint around E&L, GGI adds 41 sq. km of key ground including 6 km of \"Red Line\"\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nGaribaldi consolidates footprint around E&L, GGI adds 41 sq. km of key ground including 6 km of \"Red Line\"\nCanada NewsWire\nVANCOUVER, Nov. 16, 2016\n\n\n\nTSXV: GGIOTC: GGIFFFrankfurt: RQM\n\n\n\nVANCOUVER, Nov. 16, 2016 /CNW/ - Garibaldi Resources (TSX.V: GGI) (the \"Company\" or \"Garibaldi\") is pleased to announce that it has tripled the size of its 100%-owned E&L Project in the Eskay Camp of the Golden Triangle to 63 sq. km with the acquisition of the strategic \"QU\" claims contiguous in all directions to the Company's E&L deposit, the district's first Ni-Cu-rich system with platinum, palladium, gold and cobalt values.\n\nIn exchange for a 100% interest in the \"QU\" claims, Garibaldi will issue vendor Gold Fountain Resources Inc. (Xia Yan Qu), a private Richmond, B.C. company, 500,000 shares of Garibaldi Resources Corp.\n\nSteve Regoci, Garibaldi President & CEO commented: \"Given the growing significance of the E&L deposit, and the untested km-wide 'Q' magnetic anomaly with its conduit-shaped keel to the south, an immediate high priority was to further extend our land position around this asset with 100% ownership. The evidence is overwhelming that much was overlooked in this area by historical explorers.\n\n\"The 'QU' claim additions also capture a 6 km east-west belt of the 'Red Line', one of the most important geological features of the richly endowed Eskay Camp mineral district,\" Regoci continued. \"We'll be commenting more on the 'Red Line' and its importance to the E&L Project shortly as our geological team collects and interprets additional data. In the meantime, we are delighted to have Xia Yan Qu and her company as significant new shareholders of Garibaldi.\"\n\nAn updated map of the E&L will be posted on the Garibaldi website in the coming days.\n\nWith the expansion of the E&L, Garibaldi now controls major portions of key ground extending 20 km east-...