TSXV: GGI
OTC: GGIFF
Frankfurt: RQM
VANCOUVER, BC, June 26, 2020 /PRNewswire/ - Garibaldi Resources
Corp. (TSXV: GGI) (the "Company" or "Garibaldi") is pleased to
announce the start of its 2020 drill program at Nickel Mountain,
the Golden Triangle's first magmatic nickel-copper-rich massive
sulphide system in the heart of the Eskay Camp.
Highlights:
- First drill holes for 2020 will test a large conductor on the
eastern side of the Lower Discovery Zone (LDZ);
- 2020 exploration will be focused along a highly prospective
2-km-long east-southeast trending corridor interpreted to be a
significant magmatic pathway for the E&L Intrusion;
- A surface EM survey has revealed a high priority distinct EM
anomaly 250 meters southwest of the Northwest Zone massive sulphide
outcrop.
Jeremy Hanson, Garibaldi
VP-Exploration, stated: "We are excited to start our 2020
exploration season after a very productive winter analyzing data
and generating targets. We have several high priority drilling
targets along trend of the E&L system that will be tested at
the beginning of our drilling campaign, including mineralized
chambers discovered at the end of 2019, surface EM anomalies and
BHEM anomalies. Over the winter we also developed a detailed list
of geochemical, geophysical and geological field targets across the
rest of the property that we are eager to prospect with boots on
the ground. Building out the scale of this discovery is our goal
over the coming months."
BHEM on drill hole EL-19-72 displays a large north trending and
mostly untested conductive plate extending off the eastern side of
the LDZ. Early 2020 drilling will test the extension of this plate
where the massive sulphide lens is thickening to the north as
evidenced by drill hole EL-19-82 (refer to Feb. 21, 2020, NR).
Broadly, the 2020 program will focus on expanding the scale of
the E&L high-grade deposit along a trend defined by successful
2019 exploration drilling. The host E&L Intrusion comprises
prospective chaotic-textured olivine gabbros that have a
distinctive chemical signature tracked along trend between the
initial discovery in the Northwest Zone and a buried intrusion,
discovered through drill hole EL-19-80, located approximately 600
meters to the ESE along a sub-vertical structure.
Significantly, the massive sulphide mineralization's magnetic
and conductive features correlate with a trend of very distinctive
E&L gabbro that continues along an east-southeast trending
corridor. This provides a clear vector to guide exploration for new
mineralized zones in 2020.
Results since 2017 at Nickel Mountain increasingly support the
interpretation of a dynamic magmatic nickel-copper-rich massive
sulphide system with significant scale potential, featuring
top-tier nickel grades in addition to palladium, platinum, cobalt,
gold, silver and strategic PGE rare metals including
rhodium.
Nickel Mountain Gabbroic Trend
Surface sampling in 2019 identified numerous anomalies high in
metals associated with mafic gabbros up to 10 km north of the
E&L. A checklist of sampled locations selected by metal content
and proximity to geophysical anomalies was ranked and added to the
2020 exploration target list for priority follow-up.
Meanwhile, a surface EM survey completed last year has outlined
a high priority distinct EM anomaly 250 meters southwest of the
Northwest Zone massive sulphide outcrop. This anomaly lies along an
interpreted mineralization controlling structure and is coincident
with a large weathering anomaly.
Covid-19 Precautions
Garibaldi ground crews have completed camp modifications in full
compliance with Provincial health guidelines to ensure Covid-19
mitigation standards conform with Ministry regulations for
exploration which is recognized as an essential service by the B.C.
Government.
Qualified Person & Data Verification
Jeremy Hanson, P.Geo., VP
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
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 British
Columbia and Mexico.
We seek safe harbor.
GARIBALDI RESOURCES CORP.
Per: "Steve Regoci"
Steve Regoci, President
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or the accuracy of
this release.
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SOURCE Garibaldi Resources Corp.