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Garibaldi Resources Corp
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Garibaldi drills 18.2m of 7% Ni, 3.8% Cu at Nickel Mtn

2019-09-12 07:40 ET - News Release

Mr. Steve Regoci reports


Garibaldi Resources Corp. has provided the following Nickel Mountain update including additional assay results as 2019 diamond drilling continues to build out northwestern British Columbia's first magmatic nickel-copper-rich sulphide system in the heart of the prolific Eskay camp.


  • Drill hole EL-19-53, filling a gap on the northwest part of the Lower Discovery zone (LDZ), has cut 30.2 metres of 4.74 per cent nickel and 3.22 per cent copper (plus cobalt and precious metals) including 18.2 metres of 7.04 per cent nickel and 3.81 per cent copper within a broader intercept of 86.5 metres (65 m to 151.5 m) averaging 1.88 per cent nickel and 1.32 per cent copper (true width estimated at 69.2 metres).
  • Drill hole EL-19-48 has intersected 7.12 per cent nickel and 3.34 per cent copper over 4.76 metres within 44.5 metres of 1.20 per cent nickel and 0.79 per cent copper (true width estimated at 35.6 metres), widening the LDZ by 12 metres to the northeast.
  • Drill hole EL-19-54 (assays pending) has extended the Lower and Upper Discovery zones to the west by 14 metres and 33.5 metres, respectively. Significantly, it has also intersected strongly mineralized olivine gabbro at depth (302 m to 324.7 m) in a second magma chamber that plunges toward the southeast where a potential feeder zone may exist. EL-19-54 cut six separate intervals of mineralization totalling 142 metres including a total of 8.9 metres of massive sulphides and 133 metres of mineralized gabbro and sediments.
  • Additional assaying by SGS and Actlabs of selected interval samples reported in 2017 and 2018 has revealed that the Nickel Mountain massive sulphides are unusually enriched with rhodium, iridium, osmium and ruthenium compared with global magmatic sulphide mineralization.

Steve Regoci, Garibaldi president and chief executive officer, commented: "The improved structural understanding of the known zones at Nickel Mountain is leading to increasingly robust results and new discoveries. It has also aided us in developing strategic new drill pad locations that now allow our crews to explore the E&L from a different geometry.

"We eagerly anticipate providing investors with additional updates including multiple new assay results during the second half of September," Mr. Regoci added.

Drill hole EL-19-53

EL-19-53, processed on a rush basis, represents the widest massive sulphide intercept (18.2 metres) and the longest section of continuous mineralization (86.5 metres) east of the historic E&L deposit since Garibaldi discovered the high-grade Lower and Upper Discovery zones in its first-ever drill program at Nickel Mountain in 2017.

Dr. Peter Lightfoot, technical adviser to Garibaldi, commented: "The spectacular 18.24 m interval of high-grade massive sulphide from the Lower Discovery zone in EL-19-53 demonstrates the continuity of the mineralization and encourages further drilling to establish the vertical and lateral extent of this exceptionally valuable style of mineralization.

"Drilling from a strategic new platform is also very significant as Garibaldi takes this unique northwest British Columbia discovery to an even higher level," Dr. Lightfoot added.


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

EL-19-53        over 86.46 m (65.2-151.66 m)   1.88   1.32   0.05     0.52     1.08     0.35      3.55
*including    over 30.2 2 m (120.0-150.22 m)   4.74   3.22   0.13     1.26     2.59     0.82      8.10
**including   over 18.24 m (131.98-150.22 m)   7.04   3.81   0.19     1.27     2.69     0.68      7.65
EL-19-48          over 44.5 m (78.0-122.5 m)   1.20   0.79   0.04     0.29     0.56     0.24      2.61
**including    over 4.76 m (111.16-120.92 m)   7.12   3.34   0.20     1.05     2.02     0.69      9.38

* Denotes semi-massive sulphide (50 to 75 per cent sulphide) and massive sulphide (greater than 75 
per cent sulphide);
** Denotes interval of massive sulphide (greater than 75 per cent sulphide).                                 

Intervals are measured core lengths (true widths are estimated to be 80 per cent of reported intervals). Massive sulphides have not yet been assayed for PGE rare metals.

Nickel Mountain massive sulphides contain PGE rare metals

Additional assaying by SGS and Actlabs of selected samples from intervals reported in 2017 and 2018 has revealed that the Nickel Mountain massive sulphides are enriched with rhodium, iridium, osmium and ruthenium. The abundance levels of these precious metals are unusually high when compared with global magmatic sulphide mineralization.

The associated table shows the massive sulphide intercept from previously released drill hole EL-17-14 (refer to Dec. 8, 2017, news release) updated to show the concentrations of rhodium, iridium, osmium and ruthenium.

Hole No.       MASU interval    Ni    Cu    Co      Pt      Pd     Rh     Ir      Os      Ru      Au      Ag
                   (from-to)   (%)   (%)   (%)   (g/t)   (g/t)  (g/t)  (g/t)   (g/t)   (g/t)   (g/t)   (g/t)

EL-17-14        over 16.75 m
            (123.75-140.5 m)  8.29  4.24 0.187   1.959   4.469  0.174  0.114   0.205   0.222   1.129    11.1
including         over 3.0 m
             (132.0-135.0 m)  9.01  4.18 0.021   1.965   4.063  0.404  0.316   0.533   0.594   0.913   10.65

The associated table shows the rhodium, iridium, osmium and ruthenium average concentrations of representative samples of massive sulphide from three other holes completed in 2018 (EL-18-16, EL-18-19 and EL-18-38).

Hole No.                    MASU interval         Rh      Ir        Os     Ru
                                (from-to)      (g/t)   (g/t)     (g/t)  (g/t)

EL-18-16       over 7.4 m (135.9-143.3 m)      0.419   0.363     0.545  0.783
including       over 1.5m (136.4-137.9 m)      0.726   0.583     0.890  1.318
EL-18-19    over 5.74 m (119.13-123.87 m)      0.244   0.144     0.225  0.281
EL-18-38      over 0.95 m (16.22-17.17 m)      0.176   0.132     0.114  0.185

Dr. Lightfoot commented: "This is an interesting development which speaks to the unusual geochemical signature of the E&L sulphides and the strong enrichment in platinum group elements. This strong enrichment in rhodium, iridium, osmium and ruthenium reaches an apogee at the centre of the massive sulphide zone. If these metals can be recovered into a concentrate, they will certainly add to the value of the massive sulphides."

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 geoscientist and selected intervals were sampled. HQ and NQ 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. Multiple certified ore assay laboratory standards and one blank standard were used in the process. 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 inductively 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 grams 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. 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.

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

Qualified person and data verification

Jeremy Hanson, PGeo, vice-president of exploration, Canada, for the company, and a qualified person as defined by NI 43-101, has supervised the preparation of and reviewed and approved of the disclosure of information in this news release. Mr. Hanson 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 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 British Columbia and Mexico.

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