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Garibaldi Resources Corp
Symbol C : GGI
Shares Issued 96,860,533
Close 2017-12-06 C$ 3.51
Recent Sedar Documents

Garibaldi drills 9.9m of 7.3% Ni, 3.3% Cu at Nickel Mtn

2017-12-06 07:18 ET - News Release

Mr. Steve Regoci reports

GARIBALDI DRILLS 7.3% NICKEL AND 3.3% COPPER OVER 9.9 METERS AT NICKEL MOUNTAIN

Garibaldi Resources Corp. has provided the following update regarding its nickel-copper-rich massive sulphide discovery at Nickel Mountain near Eskay Creek including new high-grade drill results:

Highlights:

  • Drill hole EL-17-09 east of the historic E&L deposit (Discovery zone) has intersected two separate zones of mineralization including 9.9 metres of massive sulphides featuring 7.3 per cent nickel and 3.3 per cent copper within a broader 12-metre section grading 6.2 per cent nickel and 2.9 per cent copper.
  • New potential at the historic E&L northwest zone continues to be revealed with EL-17-08 returning 39.3 metres grading 1.27 per cent nickel and 0.81 per cent copper, starting from 25.7 metres, including 5.85 metres at 5.1 per cent nickel and 2.0 per cent copper.
  • Additional analysis of geophysical data has greatly expanded the number of high-quality VTEM (versatile time domain electromagnetic) conductors trending north-northeast of the new discovery zone along a minimum six km Nickel Mountain mineralized trend leading to anomaly A.

Dr. Peter Lightfoot, one of the world's leading nickel sulphide experts and a technical adviser to Garibaldi, commented, "The unusually high grades in massive magmatic sulphides at Nickel Mountain are indicative of an open system magmatic event within the Eskay rift collisional setting, an ideal structural environment for a unique discovery such as this."

Discovery zone

Drill hole EL-17-09 expands the eastern discovery zone with a thick interval of nickel-copper-rich massive sulphides, along with platinum, palladium, cobalt, gold and silver, below a consistently mineralized and strongly disseminated 32.5-metre section grading 0.91 per cent nickel and 0.69 per cent copper (approximate true widths).

  
Hole                         Interval width   Ni    Cu     Co       Pt         Pd       Au        Ag     *Ni-Cu 
No.                             (from - to)  (%)   (%)    (%)    (g/t)      (g/t)    (g/t)     (g/t)        (%)

EL-17-09      over 32.5 m (122.0 - 154.5 m) 0.91  0.69  0.029    0.287      0.530    0.245       4.6       1.60
including   over 15.55 m (136.5 - 152.05 m) 0.87  0.87  0.025    0.410      0.697    0.388       5.6       1.74
**and        over 1.9 m (152.05 - 153.95 m) 5.98  2.56  0.208    0.324      0.557    0.057      12.1       8.54
EL-17-09      over 12.0 m (175.5 - 187.5 m) 6.16  2.91  0.168    1.020      1.868    0.680       9.0       9.08
**including    over 9.9 m (176.6 - 186.5 m) 7.35  3.33  0.201    1.174      2.101    0.783      10.1      10.69

* Combined 1 per cent nickel-copper is a minimum threshold for comparative analysis of composites.
** Denotes interval of massive sulphides (75 to 100 per cent).                                       

Historic northwest zone

Results from several Garibaldi drill holes into the northwest zone discovered through limited drilling in the 1960s support and exceed historic assays reported by Silver Standard. In addition, Garibaldi drilling and geophysics covering this zone suggest the potential for the discovery of much higher-grade material.

Northwest zone highlights:

  • Drill hole EL-17-08 has returned the widest massive sulphide intercept (5.85 metres at 5.1 per cent nickel and 2.0 per cent copper) ever recorded for the northwest zone.
  • Sedimentary rocks, never considered prospective for nickel-copper mineralization at the E&L by historical explorers, are now known to host massive sulphides.
  • Potentially significant unexplained anomalies in borehole electromagnetic (BHEM) data for the northwest zone are being thoroughly investigated by the Garibaldi geophysics team led by renowned expert Alan King.

  
Hole                       Interval width     Ni     Cu     Co      Pt       Pd       Au       Ag      *Ni-Cu
No.                           (from - to)    (%)    (%)    (%)   (g/t)    (g/t)    (g/t)    (g/t)         (%)

EL-17-08      over 39.3 m (25.7 - 65.0 m)   1.27   0.81  0.045   0.268    0.505    0.222      2.5        2.08
including      over 6.0 m (39.0 - 45.0 m)   0.89   0.99  0.025   0.605    1.205    0.510      4.0        1.88
**and        over 5.85 m (57.8 - 63.65 m)   5.14   1.99  0.197   0.264    0.388    0.193      5.1        7.13
EL-17-07      over 37.8 m (38.1 - 75.9 m)   0.73   0.65  0.020   0.222    0.346    0.213      2.6        1.38
including      over 9.0 m (47.3 - 56.3 m)   1.05   1.02  0.027   0.362    0.563    0.350      4.3        2.06
and            over 8.9 m (61.7 - 70.6 m)   0.86   0.69  0.023   0.200    0.321    0.192      2.7        1.55
**EL-17-07   over 3.25 m (75.9 - 79.15 m)   4.88   1.78  0.177   0.364    0.696    0.171      3.5        6.66
EL-17-06      over 36.3 m (25.5 - 61.8 m)   0.76   0.59  0.025   0.217    0.374    0.188      2.4        1.35
including     over 13.5 m (36.0 - 49.5 m)   0.88   0.85  0.024   0.403    0.690    0.341      3.8        1.72
**and          over 1.9 m (58.4 - 60.3 m)   3.84   1.76  0.150   0.169    0.279    0.176      5.2        5.60
EL-17-05      over 43.7 m (24.5 - 68.2 m)   0.75   0.79  0.020   0.247    0.346    0.239      3.9        1.54
including     over 16.0 m (32.0 - 48.0 m)   1.06   1.08  0.028   0.393    0.589    0.380      5.3        2.14
and          over 0.25 m (66.45 - 66.7 m)   1.58   1.07  0.075   0.170    0.074    0.178      5.0        2.65

* Combined 1 per cent nickel-copper is a minimum threshold for comparative analysis of composites.                 
** Denotes interval of massive sulphides (75 to 100 per cent); all intervals in each hole are approximate 
true widths.

New VTEM targets along Nickel Mountain corridor

Continuing interpretation of last spring's helicopter-borne versatile time-domain electromagnetic (VTEM) and magnetics survey carried out by Garibaldi has greatly expanded the number of high-quality VTEM conductors, from five to 14, extending along a north-northeast six km trend from the original E&L deposit and the new massive sulphide discovery zone to the east. Each of these new conductors exhibits geophysical signatures similar to anomaly D at the E&L and will be prioritized for ground truthing in 2018 to determine if the strong conductivity is due to zones of sulphide mineralization.

Quality assurance/quality control (QA/QC)

Garibaldi Resources has applied a rigorous quality assurance/quality control program at the E&L Nickel Mountain project using best industry practice. All core was logged by a professional geoscientist and selected intervals were sampled. NQ2 drill core was sawn in half and each sample half was placed in a marked sample bag with a corresponding sample tag then sealed. The remaining half core is retained in core boxes that are stored at a secure facility in Smithers, B.C. Chain of custody of samples was recorded and maintained for all samples from the drill to the laboratory.

All diamond drilling sample batches included 5-per-cent QA/QC samples consisting of certified blanks, standards and field duplicates. Two certified ore assay laboratory standards and one blank standard were used in the process and were supplied by CDN Resource Laboratories Ltd., an independent laboratory located in Langley, B.C. Samples were submitted to SGS Canada Inc. in Vancouver, B.C., an ISO 9001: 2008-certified lab, for base metal, sulphur and precious metal analysis using inductivity coupled plasma (ICP), fire assay (FA) and Leco methods.

Samples were prepared by crushing the entire sample to 75 per cent passing two millimetres, riffle splitting 250 g and pulverizing the split to better than 85 per cent passing 75 microns. Gold, platinum and palladium were analyzed using a 30-gram fire assay and ICP-AES (inductively coupled plasma atomic emission spectrometry). Total sulphur and total carbon were analyzed using a Leco method. Nickel, copper, cobalt, silver and base metals were analyzed by sodium peroxide fusion and ICP-MS (inductively coupled plasma mass spectroscopy).

The performance on the blind standards, blanks and duplicates achieved high levels of accuracy and reproducibility and has been verified by Everett Makela, a qualified person as defined by National Instrument 43-101.

Qualified person and data verification

Everett F. Makela, PGeo, director/vice-president, exploration, Canada for the company, and a qualified person as defined by NI 43-101, has supervised the preparation of, reviewed and approved of, the disclosure of information in this news release. Mr. Makela has verified the data, including drilling, sampling, test and recovery data by supervising all such procedures on-site. There are no known factors that could materially affect the reliability of data collected and verified under his on-site supervision. No quality assurance/quality control issues have been identified to date.

About Garibaldi Resources Corp.

Garibaldi Resources is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in Mexico and British Columbia.

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