Garibaldi Drills 7.3% Nickel And 3.3% Copper Over 9.9 Meters At Nickel Mountain

by pmnationtalk on December 6, 201710 Views

Vancouver, British Columbia, December 6, 2017 – Garibaldi Resources (TSX.V: GGI) (the “Company” or “Garibaldi”) is pleased to provide 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 meters of massive sulphides featuring 7.3% nickel and 3.3% copper within a broader 12-meter section grading 6.2% nickel and 2.9% copper;
  • New potential at the historic E&L northwest zone continues to be revealed with EL-17-08 returning 39.3 meters grading 1.27% nickel and 0.81% copper, starting from 25.7 meters, including 5.85 meters @ 5.1% nickel and 2.0%copper;
  • Additional analysis of geophysical data has greatly expanded the number of high-quality VTEM conductors trending north-northeast of the new discovery zone along a minimum 6-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-meter section grading 0.91% nickel and 0.69% copper (approximate true widths).

Hole # Interval width (from – to) Ni % Cu % Co % Pt (g/t) Pd (g/t) Au (g/t) Ag (g/t) *Ni+Cu (%)
EL-17-09 over 32.5m (122.0 – 154.5m) 0.91 0.69 0.029 0.287 0.530 0.245 4.6 1.60
Including over 15.55m (136.5 – 152.05m) 0.87 0.87 0.025 0.410 0.697 0.388 5.6 1.74
**And over 1.9m (152.05 – 153.95m) 5.98 2.56 0.208 0.324 0.557 0.057 12.1 8.54
EL-17-09 over 12.0m (175.5 – 187.5m) 6.16 2.91 0.168 1.020 1.868 0.680 9.0 9.08
**Including over 9.9m (176.6 – 186.5m) 7.35 3.33 0.201 1.174 2.101 0.783 10.1 10.69

* combined 1% nickel-copper is a minimum threshold for comparative analysis of composites
** denotes interval of massive sulphides (75-100%)

Historic Northwest Zone

Results from several Garibaldi drill holes into the northwest zone discovered through limited drilling in the 1960’s 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 meters @ 5.1% nickel and 2.0% 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 (from – to) Ni % Cu % Co % Pt (g/t) Pd (g/t) Au (g/t) Ag (g/t) *Ni+Cu (%)
EL-17-08 over 39.3m (25.7 – 65.0m) 1.27 0.81 0.045 0.268 0.505 0.222 2.5 2.08
Including over 6.0m (39.0 – 45.0m) 0.89 0.99 0.025 0.605 1.205 0.510 4.0 1.88
**And over 5.85m (57.8 – 63.65m) 5.14 1.99 0.197 0.264 0.388 0.193 5.1 7.13
EL-17-07 over 37.8m (38.1 – 75.9m) 0.73 0.65 0.020 0.222 0.346 0.213 2.6 1.38
Including over 9.0m (47.3 – 56.3m) 1.05 1.02 0.027 0.362 0.563 0.350 4.3 2.06
And over 8.9m (61.7 – 70.6m) 0.86 0.69 0.023 0.200 0.321 0.192 2.7 1.55
**EL-17-07 over 3.25m (75.9 – 79.15m) 4.88 1.78 0.177 0.364 0.696 0.171 3.5 6.66
EL-17-06 over 36.3m (25.5 – 61.8m) 0.76 0.59 0.025 0.217 0.374 0.188 2.4 1.35
Including over 13.5m (36.0 – 49.5m) 0.88 0.85 0.024 0.403 0.690 0.341 3.8 1.72
**And over 1.9m (58.4 – 60.3m) 3.84 1.76 0.150 0.169 0.279 0.176 5.2 5.60
EL-17-05 over 43.7m (24.5 – 68.2m) 0.75 0.79 0.020 0.247 0.346 0.239 3.9 1.54
Including over 16.0m (32.0 – 48.0m) 1.06 1.08 0.028 0.393 0.589 0.380 5.3 2.14
And over 0.25m (66.45 – 66.7m) 1.58 1.07 0.075 0.170 0.074 0.178 5.0 2.65

* combined 1% nickel-copper is a minimum threshold for comparative analysis of composites
** denotes interval of massive sulphides (75-100%); all intervals in each hole are approximate true widths

Drill Hole Coordinates For Holes 5 to 9

Hole Zone Easting* Northing* Elevation (mASL) Azimuth Dip Length (m)
EL-17-05 Northwest 396119 6271498 1887 270 -50 183
EL-17-06 Northwest 396119 6271498 1887 290 -50 143
EL-17-07 Northwest 396119 6271498 1887 290 -70 219
EL-17-08 Northwest 396108 6271497 1888 344 -74 267
EL-17-09 Discovery 396103 6271502 1892 107.7 -49.2 250.5

*UTM Zone 9N WGS 1984

New VTEM Targets Along Nickel Mountain Corridor

Ongoing 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 6 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.

Updated Drill Map with Cross-Sections

To view an updated drill map with cross-sections, please visit the home page of the Garibaldi web site (GaribaldiResources.com) where the new map will be posted this morning.

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 such procedures on site. There are no known factors that could materially affect the reliability of data collected and verified under his onsite 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.

We seek safe harbor.

GARIBALDI RESOURCES CORP.

Per: “Steve Regoci”
Steve Regoci, President

NT4

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