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News Releases

Garibaldi Launches State of The Art Fixed Wing Hyperspectral (Alteration) Mapping Survey in Mexico's Sierra Madre

May 15, 2008

Garibaldi Resources Corp. (the “Company”), as previously announced, controls eight district scale, gold – silver exploration projects that cover more than 3,500 sq. kms. in the central and northern parts of Mexico’s prolific Sierra Madre. The Sierra Madre is one of the most extensive belts of epithermal type gold-silver occurrences in North America and all of the existing mining districts exhibit the widespread hydrothermal alteration that characterizes these types of deposits, which include El Sauzal, Palmarejo and Mulatos. 

All of Garibaldi’s projects, Morelos, Temoris, Iris, Tonichi, Onavas, Rodadero, Badesi and Sianori were acquired because they cover broad areas of virtually unexplored hydrothermal alteration that are (strikingly) similar to the alteration zones associated with many of the known deposits. All of these projects have potential to host multiple mineralized zones and management believes the company’s portfolio represents an exceptional, leveraged exploration opportunity. 

Using conventional exploration methods it could easily take years to assess the companies landholdings however, management is pleased to announce the company has now launched a state of the art, fixed wing alteration mapping survey (hyperspectral survey) which will cover all of the companies projects over the course of the next few weeks,

Multispectral surveys such as ASTER were initially developed in the late 1990’s for use on space borne satellite platforms and it is well documented that even from space these types of surveys can identify the broad zones of hydrothermal alteration that are associated with epithermal style gold mineralization. Initial processing of ASTER data for the northern part of the Sierra Madre by the Company’s consultants has resulted in the definition of several target areas within the Company’s concessions and these target areas will be the initial focus of the fixed wing hyperspectral survey. As an example the attached image shows the ASTER response observed at one of the Company’s projects (Badesi) located in Sonora State and compares it to the ASTER response from the well documented hydrothermal alteration observed at Mulatos, also located in Sonora State.

The current fixed wing hyperspectral survey (flown by HyVista Corp. of Australia and processed by MacDonald Dettwiler and Associates Ltd. of Richmond, B.C.) will have the advantage of collecting higher resolution data for a much wider range (126 band width) of key alteration minerals than can be identified from ASTER data. The hyperspectral data from this survey is expected to be able to identify not only the poorly exposed areas of hydrothermal alteration that can easily be overlooked by ASTER surveys but is also expected to be detailed enough to allow selective mineralogical mapping comparable to conventional hand held instrument mapping (such as PIMA and ASD field spectrometers) which is increasingly being used by geologists to identify drill targets within the alteration halos associated with epithermal deposits.

The fixed wing hyperspectral survey and data interpretation for the company’s properties in Mexico is expected to be completed in stages over the next several weeks. The Company now has several, highly experienced field crews and a dedicated diamond drilling rig deployed in Mexico and management plans to carry out extensive exploration work over the next several months. Results will be made available on the Company’s website / announced as they are received.

per “Steve Regoci” Steve Regoci, President

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