Garibaldi has mobilized crews for immediate drilling at its 100%-owned Tora Tora copper-gold-silver-PGE prospect 15 miles north of the Copper Mountain mine near Princeton, B.C., as announced by the company January 10, 2017.
Steve Regoci, Garibaldi President and CEO, stated: "Tora Tora is one of our promising early-stage B.C. properties and is situated within a productive mineral belt surrounded by excellent infrastructure. Initial diamond drilling should capture important new data and quickly move Tora Tora up the valuation curve. Coincident geophysical and geochemical targets will be tested with a few widely spaced drill holes in this first phase."
Limited historical drilling about 25 years ago intersected highly anomalous gold and platinum values in one hole at Tora Tora, according to MINFILE #092HNE170, and Garibaldi is planning to twin that hole in an attempt to verify those results.
Garibaldi has patiently and cost effectively addressed the challenges of advancing the 27 sq. km Tora Tora Property by applying modern high resolution aeromagnetic & radiometric geophysics (a large program was carried out in 2013) to associate a highly magnetic circular feature with underlying areas of geochemical response. Outcrop exposure is limited.
Current Operations And District Potential
High Power Exploration (HPX), a private mineral company indirectly controlled by Robert Friedland, owns a 75 sq. km claim package attached to the western boundary of Tora Tora while Sego Resources is advancing its Miner Mountain Project contiguous to the east of Garibaldi's property.
During 2012, Sego drilled a hole at Miner Mountain (DDH-12-21) that returned 100.4 m grading 0.95% Cu, 0.55 g/t Au and 3.5 g/t Ag.
The district has a long history of gold & platinum placer production from deposits along the Tulameen river and surrounding creeks.
Meanwhile, the Copper Mountain mine to the south, which has been operating intermittently for more than a century, produced 77.6 million pounds of copper, 29,000 ounces of gold and 276,000 ounces of silver during the year ended December 31, 2015 (Copper Mountain Mining Corp. Jan. 14, 2016, news release).