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Preliminary airborne mag survey data over the northwestern portion of its 100%-owned Grizzly Property, including the Kaketsa pluton “heat engine”, has greatly encouraged Garibaldi Resources (GGI, TSX-V) which has expanded a reconnaissance and sampling program on the property as reported by the company last week.  This initial survey data, together with an earlier Fugro survey that was flown over both the central part of the Grizzly and the southern half of what’s now Prosper Gold’s (PGX, TSX-V) Sheslay Project, has confirmed multiple targets over an incredible 15 km distance at the Grizzly – from “Grizzly West” to “Grizzly Central”.  Garibaldi geologists have identified 2 parallel faults from Grizzly West to Grizzly Central that appear to be related to Cu-Au porphyry mineralization on both the Grizzly and the Sheslay.

BMR Interviews GGI President and CEO Steve Regoci

Expect the Sheslay Valley story to heat up in the very near future as Garibaldi reports more on its current exploration activities, while pending results from 3 important drill holes on the Sheslay have the potential to instantly build a very large audience for both Prosper Gold and Garibaldi. “If they verify that this mineralization extends to depth, then we’re off to the races,” GGI President and CEO Steve Regoci told BMR in an extensive interview.

Prosper Gold’s first 3 holes at the Sheslay were all very good and confirmed historical numbers.  However, any 1 of the last 3 Phase 1 holes, which all went to depths never previously tested on this property, could be a “game-changer”.  As PGX reported last week, the 4th hole (S027) intersected mineralization from surface to 598 metres.  Grade of course will be key, but we doubt PGX would have drilled that deep unless they had good reason to – in other words, the “visuals” may have been very impressive.  Assays are expected soon.  Keep in mind, this is the same group that discovered the multi-million ounce Blackwater Gold deposit in central B.C. and saw their stock zoom from pennies to over $10 a share as a result (Richfield Ventures was bought out by New Gold Inc. (NGD, TSX) for half a billion dollars in 2011).  Pete Bernier and Dr. Dirk Tempelman-Kluit know what they’re doing.

Regoci:  “Earmarks Of A Major Discovery”

Regoci likes how things are shaping up at both the Sheslay and the Grizzly, and commented specifically on PGX’s initial holes (click on the forward arrow to listen to this 2-minute excerpt – requires Adobe Flash Player, version 9 or above):

[audio:https://bullmarketrun.com/wp-content/uploads/2013/10/Regoci-GGI-Clip-1.mp3|titles=Regoci GGI Clip 1]

Grizzly West:  Early Focus For GGI

Historical surface sampling by Corona and Kennecott in the Grizzly West area returned what would now be considered very impressive grades (Cu and Au), and this is where Garibaldi is currently following up on some of its own work that has outlined several areas of exposed porphyry Copper mineralization and sizable, open-ended Copper-in-soil anomalies.  To listen to Regoci’s comments (1-minute excerpt) on this intriguing area, click on the forward arrow below:

[audio:https://bullmarketrun.com/wp-content/uploads/2013/10/Regoci-GGI-Clip-2.mp3|titles=Regoci GGI Clip 2]

Much more on the Grizzly from Regoci during the upcoming week.  Garibaldi is moving quickly on 2 major fronts – B.C. and Mexico.  We’ll be exploring important developments in Mexico (drilling, royalty income from coal program, graphite discovery) with Regoci as well.

Note: Both John and Jon hold share positions in GGI.  Jon also holds a share position in PGX.