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Garibaldi Resources Corp
Symbol C : GGI
Shares Issued 108,272,976
Close 2018-10-31 C$ 1.48
Recent Sedar Documents

Garibaldi drills 5.6 m of 7.6% Ni at Nickel Mtn

2018-10-31 20:10 ET - News Release

Mr. Steve Regoci reports

GARIBALDI DRILLS INTO NICKEL-COPPER RICH MASSIVE SULPHIDES NORTHWEST AND SOUTHEAST OF DISCOVERY ZONE

Garibaldi Resources Corp.'s assay results for an additional two drill holes at Nickel Mountain have expanded the Discovery zone to the northwest and southeast.

Highlights:

  • Drill hole EL-18-24 has cut two mineralized zones, including 4.5 meters grading 8% nickel and 2.9% copper within a broader interval of 10.5 meters grading 3.7% nickel and 1.6% copper, approximately 64 meters southeast of the EL-17-14 intercept;
  • Drill hole EL-18-23, collared on the edge of the icefield and drilled toward the west-southwest, has cut two shallow mineralized zones including a massive sulphide intercept of 5.6 meters grading 7.6% nickel and 3.4% copper, approximately 30 meters northwest of the EL-17-14 intercept and 35 meters above it in elevation;
  • The EL-18-24 and EL-18-23 nickel-copper-rich massive sulphide intersections, like others at Nickel Mountain, are significant not only for their grades and widths but such intercepts represent highly prospective new target areas along the "magma highway" to vector into additional massive and disseminated sulphide mineralization.

The Golden Triangle's first magmatic Nickel sulphide system, featuring the Discovery, Central and Northwest Zones, remains open in all directions and drilling continues as Garibaldi crews push further into the fall season than last year.

Dr. Peter Lightfoot, Technical Advisor for Garibaldi, commented: "When compared to magmatic nickel sulphide deposits around the world, massive sulphides at Nickel Mountain have unusually high grades of nickel, copper, cobalt and precious metals.

"The Discovery Zone massive sulphides in the footwall at E&L form a continuous wide sheet of mineralization that appears, despite structural modification, to have been injected as a significant pulse of primary magmatic sulphide," Dr. Lightfoot concluded.

             Table 1: Composited grade intervals for holes 24 and 23 (>1% Ni+Cu) 
                              
Interval Hole #  Interval width (from - to)       Ni%     Cu%  Co%    Pt (g/t)  Pd (g/t)  Au (g/t)Ag   (g/t)Ni+Cu   (%)
O   EL-18-24    over 12.0m (147.0 - 159.0m)      0.71    0.90 0.018     0.703     1.315     0.585       8.0       1.62
P   EL-18-24    over 10.5m (184.5 - 195.0m)      3.74    1.60 0.092     0.682     1.695     0.278       3.6       5.34
    **including over 4.47m (187.53 - 192.0m)      8.03    2.87 0.197     1.231     3.126     0.434       4.7      10.90

Q   EL-18-23  over 6.55m (from 70.75 - 77.3m)    6.82    3.16 0.178     0.656     0.799     0.479       9.0       9.99
    **including  over 5.57m (71.73 - 77.3m)       7.60    3.36 0.198     0.668     0.814     0.466       9.0      10.97
    EL-18-23   over 2.8m (from 77.4 - 80.2m)     0.69    0.43 0.019     0.066     0.107     0.106       1.8       1.12
R   EL-18-23   over 24.5m (125.82 - 150.32m)     0.52    0.62 0.025     0.253     0.657     0.248       3.6       1.14

Combined 1% nickel-copper is a minimum threshold for comparative analysis of composites             
**Denotes massive sulphides (>75% sulphides). *Denotes semi-massive sulphides (50% to 75% sulphides)
Intervals are core lengths (true widths unknown at this time)                                       

Updated schematic cross-section and plan view maps, plus core photos, will be available on the Garibaldi website.

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, British Columbia. 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% 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, British Columbia. Samples were submitted to SGS Canada Inc. in Vancouver, British Columbia, 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% passing 2mm, riffle splitting 250g and pulverizing the split to better than 85% passing 75 microns. Gold, Platinum and Palladium were analyzed using a 30-gram fire assay and ICP-AES. Total sulfur 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.

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 NI-43-101.

Qualified Person Data Verification

Mr. Everett F. Makela, P.Geo., Director/VP 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 of such procedures. There are no known factors that could materially affect the reliability of data collected and verified under his supervision. No quality assurance/quality control issues have been identified to date.

About Garibaldi

Garibaldi Resources Corp. 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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