Red Lion "Roars"
Extensive geophysical and surface sampling programs carried out by Garibaldi at the Red Lion, in addition to compilation and contouring of historical soil sampling results from the RL Ridge target area, have revealed a 10-km-long northwest-southeast-trending mineralized corridor at this 100%-owned Copper-Gold Project in south central British Columbia's dynamic Quesnel trough. The Red Lion "Corridor" is parallel to the Omineca mining road and power lines to Kemess that strategically pass through the property claims.
The Red Lion, never previously drilled, was gradually expanded to 75 sq. km from the original 35 sq. km acquired by Garibaldi in early 2014. The property is contiguous to Kiska Metals' Kliyul Project, and drill permits are pending.
On December 22, 2016, AuRico Metals announced that it is acquiring all of the issued and outstanding securities of Kiska by way of a statutory plan of arrangement under the Business Corporations Act (British Columbia).
The Red Lion Corridor:
There are three major target areas along the Red Lion Corridor:
- An extensive copper-in-soil anomaly at the RL Ridge target stretches northwest-southeast for 4.2 km and east-west for 400 meters to 800 meters within a broader anomaly up to 1.7 km wide.
- Parallel to the east of this large geochemical anomaly is a 2.4-km-long induced polarization chargeability high, open to the north and south, that continues up slope from the Omineca road. The IP high coincides with anomalous copper-gold rock, soil and stream sediment results along with a magnetic high that is known to be underlain by a diorite to a monzodiorite intrusive in a largely overburden-covered area (RL East target).
- A second chargeability high, 1.8 km long, is located fewer than 2 km northwest of RL Ridge at the RL West target and also coincides with anomalous copper-gold rock, soil and stream sediment results and a magnetic high underlain by a diorite intrusive.
Significantly, the four chip samples at RL West with the highest measured chargeability were associated with abundant pyrite and assayed the highest grades in gold, copper and cobalt. Those values ranged from 1.07 g/t Au to 37.5 g/t Au, 0.21% Cu to 13.6% Cu, and anomalous Co to 0.55% Co. Extensive outcropping exists at RL West, and numerous areas have yet to be sampled. The fact that the chargeability high appears to be related to sulphides carrying mineralization is extremely encouraging.
The IP chargeability highs at Red Lion are similar to those measured at the adjoining Kliyul Property to the south.
More details on the Red Lion are expected in the near future.
Steve Regoci, Garibaldi President and CEO, commented: "The Red Lion has proven to be an exceptional acquisition near the bottom of a bear market cycle in the resource sector. The quality of these targets that have been systematically identified over a 10-km-long corridor speaks to the Red Lion's exciting exploration upside. Surrounding infrastructure and the prolific nature of the Quesnel trough district make the Red Lion even more compelling. We are currently examining all options to unlock the full value of this significant asset for Garibaldi shareholders."