Garibaldi's new acquisition in the Atlin Gold fields consolidates a core land package that occupies nearly the entire 10 km length of Otter Creek
Garibaldi Resources (TSXV: GGI) (the “Company” or “Garibaldi”) is pleased to announce the addition of key claims expanding the Company’s Otter Creek lode gold prospect to 8,704 total hectares within the Atlin Gold fields. The Otter Creek claims are located 12 kms east of Atlin in northwest British Columbia. Atlin has been a rich placer gold mining district since the Klondike gold rush from the mid 1800’s to the present day, rivalling Barkerville during the Cariboo gold rush. Until recently, the source of Atlin’s coarse gold placers had remained elusive.
The first announcement of a new lode gold discovery on Otter Creek was made by British Columbia Geological Survey (BCGS) geologists in a 2017 published paper titled “A new lode gold discovery at Otter Creek: another source for the Atlin placers.” Garibaldi had previously acquired 100% ownership of the hard rock mineral rights on the discovery section of Otter Creek. Placer operations enabled geologists to sample and map the bedrock in excavated pits before backfilling, allowing access to the BCGS geologists who published the lode gold discovery.
The Otter Creek lode gold discovery provides strong evidence that Atlin’s rich coarse crystalline gold placers are sourced from proximal high-grade gold veins rather than previously assumed eroded distal listwanite deposits. Garibaldi’s new acquisition in the Atlin Gold fields consolidates a core land package that occupies nearly the entire 10 km length of Otter Creek. Significantly, Garibaldi’s geology team considers the expanded claims package covering the Otter Creek placers as an important exploration priority. With excellent road access and infrastructure, the discovery of bonafide in-situ bedrock-hosted gold, is a remarkable find with enormous potential.
Steve Regoci, Garibaldi CEO, stated: Similar to the Eskay Camp, Atlin has a long history of gold mining back to the 1860’s Cariboo and klondike gold rushes. Our strategy to acquire claim groups centered in the heart of mineral rich districts in B.C. during the last downturn has been very successful. The Eskay claim group is exceeding our highest expectations, while our other projects as well as the new expanded Otter Creek have exceptional potential.”
Jeremy Hanson, Garibaldi VP Ex, stated “Otter Creek emerges as another high priority gold project in Atlin, joining the Grizzly in NW BC, Red Lion in the Quesnel Trough and ToraTora within the Spences Bridge Gold Belt (SBGB). Each of these projects are in well-endowed mineral districts with strong potential for discoveries. The company’s focus remains E&L and the Eskay claim group, however the expansion of the Atlin discovery is exciting news, reminding shareholders about our other great projects, which we’ll be updating as they’re advanced.”
Source: Company Press Release