TSXV: GGI
OTC: GGIFF
Frankfurt: RQM
VANCOUVER, BC, Sept. 11, 2020 /CNW/ - Garibaldi Resources Corp.
(TSXV: GGI) (the "Company" or "Garibaldi") is pleased to report on
the latest drill results from the 2020 drill program which
have extended the strike length of the mineralized E&L system
from 200 meters to over 650 meters to the east, where the intrusion
remains open. The flagship E&L project, located on Nickel
Mountain, is the Golden Triangle's first magmatic
nickel-copper-rich massive sulphide system in the heart of the
prolific Eskay Camp in Northwest British Columbia.
Drilling along an extension of the trend of the E&L
intrusion, which is now recognized to be a bladed-dyke, has
identified mineralized mafic and ultramafic rocks carrying an
E&L geochemical signal. The open system intrusion is open to
the west and east. Diamond drilling continues to aggressively build
out on the persistent widespread nickel-copper mineralization,
which includes massive sulphides featuring top-tier nickel-copper
grades in addition to palladium, platinum, cobalt, gold, silver and
strategic PGE rare metals including rhodium.
E&L
Highlights;
- EL-20-88, collared 350 meters east of pivotal hole EL-19-80
(identified as E&L gabbro) intersected 142.79 meters of
mineralized taxitic gabbro and olivine pyroxenite along trend of
the E&L system. This large step-out exhibited an E&L
geochemical signature which expanded the strike length of the
E&L gabbroic intrusion to over 650 meters within a 2km
structural corridor that remains untested and open.
- El-20-89 has produced the widest mineralized intercept so far
from 71.34 meters to 223 meters returning nickel-copper
mineralization over 151.6 meters grading 0.56% nickel and 0.61%
copper. This intersect included 80.53 meters of 0.88% nickel and
0.85% copper, which expanded the NE massive sulphide zone 6 meters
South, the LDZ 15 meters North and the Second Chamber 45 meters
West. Semi-massive veins along the contact edge with sediments
assayed 0.33m (100.54-100.87m) of 6.87% nickel and 1.69% copper, and
0.15m (147.48-147.63m) of 3.04% nickel and 1.62% copper.
Precision BHEM surveys completed on holes EL-19-80 and EL-20-88
detected several high priority conductors off-hole on both the
north and south sides of the new extension of the E&L
intrusion, along the trend of the mineralized gabbro system. Hole
80 had intersected E&L gabbro approximately 450 meters
southeast of the main chamber, whereas hole 88 extended the plunge
length of the E&L intrusion to over 650 meters depth which
remains open.
Jeremy Hanson, Garibaldi
VP-Exploration, stated "Holes EL-19-80 and EL-20-88 were
instrumental to understanding the directional trend of the E&L
system. The drill results and BHEM data confirm that E&L is far
more extensive at depth than indicated by shallow drilling and
surface outcrop. Garibaldi has now identified E&L mineralized
gabbro for over 650 meters of strike length and to 578 meters at
depth, less than one-third of the way down-slope to the base of
Nickel Mountain. Both of these large step-out holes identified
mineralized E&L type gabbro with elevated metal tenors.
Bore-hole EM responses from both holes detected multiple off-hole
conductors, providing a vector towards high priority drill
targets."
Importantly, mineralized orbicular-textured E&L type gabbro
has recently been found at surface in float 950 meters west of the
outcropping E&L gabbro at Nickel Mountain. Furthermore,
melogabbroic intrusions have now been identified 1.3 km east of
E&L. Increasingly, the exploration potential to discover new
mineralized intrusions at E&L continues to grow both along
strike and vertically with deeper drilling. Mineralized outcrop
approximately 12 km northeast of Nickel Mountain have been recently
discovered which returned 2.4% Ni and 3.2% Cu utilizing a portable
XRF, assays are pending.
The 2020 drill program has succeeded in identifying a
mineralized extension of the E&L intrusion, which has the shape
of a structurally modified bladed dyke, along a predicted plunging
trend towards the east. Wider segments of the dyke contain
disseminated sulphide mineralization and the flanking contacts are
associated with contact and footwall type massive sulphide
mineralization rich in Ni, Cu, Co, Pt, Pd and Au. The E&L
intrusion contains taxitic and orbicular-textured melagabbros, and
where the dyke is wider and in contact with Hazelton sedimentary rocks; massive sulphides
are developed along the flanks of the intrusion in the sedimentary
rocks.
Dr. Peter Lightfoot, Garibaldi
Technical Advisor, commented: "A number of global magmatic sulphide
ore deposits are associated with dykes or pipe-like intrusions
controlled by structures. These dykes were originally open system
magma conduits, termed chonoliths, with narrow dyke-like blades
flanking the pipe-like intrusion. The pipe is often the nexus
of heavier mineralization.
The recognition of this morphology at E&L thanks to detailed
drilling and structural studies in 2019 provided the basis for
drilling to follow the steeply plunging mineralized open system
conduit towards the east. Renewed prospecting along strike also
provided new evidence of mineralized taxitic olivine gabbro at
surface. The discovery of mineralized orbicular gabbro and olivine
pyroxenite in hole EL-19-80 to the east, and finding mineralized
taxitic-textured olivine gabbro and orbicular-textured surface
float samples west of E&L provides important new evidence that
the scale of the mineral system may extend considerably along
strike beneath the overlying talus fields and vertically towards
the base of Nickel Mountain."
With new geochemical and geophysical targets located at depth,
the immediate goal of the drill program is to follow the steeply
plunging E&L gabbro to the east. The conductors detected
off-hole will be drill tested for mineralization. It should be
noted that the potential importance to exploit deeper targets for
mineralization within these expanding zones can't be overstated and
remains the highest priority.
El-20-85 & 86 tested a northeast trending structure along
the projected contact with a sedimentary unit, hole 85 intercepted
34.5 meters (130 -164.5m) of 0.13% Ni
and 0.01% Cu while hole 86 intercepted 20 meters (135-155m) of 0.13% Ni and 0.05% Cu. EL-20-87
was drilled north of the E&L system to provide a BHEM platform.
All three holes were drilled from the same platform providing
essential structural data and sections of low grade mineralization,
with no significant intercepts.
Drill Hole Assay Table – Holes EL-20-85 to EL-20-89
Hole
(#)
|
Interval Width
(from – to)
|
Ni
(%)
|
Cu
(%)
|
Co
(%)
|
Pt
(g/t)
|
Pd
(g/t)
|
Au
(g/t)
|
Ag
(g/t)
|
EL-20-89
|
over 151.66 m (71.34
– 223 m)
|
0.56
|
0.61
|
0.018
|
0.253
|
0.497
|
0.256
|
2.78
|
*including
|
over 80.53 m (71.34 –
151.87 m)
|
0.88
|
0.85
|
0.026
|
0.286
|
0.523
|
0.300
|
3.80
|
*including
|
over 34.26 m (71.34 –
105.6 m)
|
1.15
|
1.15
|
0.035
|
0.333
|
0.522
|
0.407
|
5.65
|
**including
|
over 1.16 m (84.8 –
85.96 m)
|
4.55
|
2.27
|
0.184
|
0.231
|
0.388
|
0.289
|
7.61
|
*including
|
over 24.85 m (123.07–
147.92 m)
|
1.20
|
1.08
|
0.031
|
0.446
|
0.896
|
0.388
|
3.83
|
*including
|
over 21.75 m (180.75
– 202.5 m)
|
0.49
|
0.94
|
0.016
|
0.657
|
1.328
|
0.636
|
4.11
|
|
|
|
|
|
|
|
|
|
EL-20-88
|
over 142.79 m (436.25
- 579.04 m)
|
0.15
|
0.12
|
0.013
|
0.017
|
0.032
|
0.011
|
1.01
|
and
|
over 53.42 m (481.58
– 535 m)
|
0.24
|
0.22
|
0.020
|
0.028
|
0.051
|
0.019
|
1.39
|
|
|
|
|
|
|
|
|
|
**
|
Massive sulphides
(75-100%); *Semi-massive sulphides (50% - 75%).
Intervals are core lengths (true widths are estimated to be 80% of
reported intervals).
|
Drill Hole Coordinates Table – Holes EL-20-85 to
EL-20-89
Hole
(#)
|
Zone
|
Easting*
|
Northing*
|
Elevation
(MASL)
|
Azimuth
|
Dip
|
Length
(m)
|
EL-20-89
|
Western chamber
extension
|
396238
|
6271503
|
1859
|
259
|
-65
|
386
|
EL-20-88
|
Deep
chamber
|
396673
|
6271391
|
1791
|
256
|
-64
|
612
|
EL-20-87
|
Exploratory
|
396239
|
6271505
|
1858
|
297
|
-74
|
235
|
EL-20-86
|
Exploratory
|
396241
|
6271502
|
1859
|
177
|
-68.5
|
193
|
EL-20-85
|
Exploratory
|
396241
|
6271502
|
1859
|
159
|
-67
|
190
|
CASPER QUARTZ GOLD VEIN
Flexible work plan schedules adapted for weather, have also
resulted in accelerated developments at the nearby
lower elevation Casper gold vein discovery. Two new quartz veins
have been identified in proximity to the high-grade Casper vein,
including one with multiple samples of visible gold. Assays are
pending, and Garibaldi looks forward to providing an update on
these results.
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, 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.
Multiple certified ore assay laboratory standards and one blank
standard were used in the process. 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 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 NI-43-101.
XRF measurements were taken with a Niton XL5. XRF measurements
analyze a very small section of rock approximately
0.16cm2 per measurement and results are not
representative of the overall rock or material.
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 of British
Columbia and Mexico.
We seek safe harbour.
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.