TSXV: GGI
OTC: GGIFF
Frankfurt: RQM
VANCOUVER, BC, Oct. 13, 2021 /CNW/ - Garibaldi Resources (TSXV:
GGI) (the "Company" or "Garibaldi") wishes to notify shareholders
that due to hazardous conditions from the early onset of winter on
the slopes of Nickel Mountain, the 2021 exploration program will
shift drilling for safety reason to the lower elevation Casper
quartz gold vein target north of Nickel Mountain within the
Company's 180 sq.km Eskay Claim Group in Northwest British Columbia.
The Geotech ZTEM survey recently completed over the entire Eskay
Claim Group, is a key tool able to identify deeper conductors, as
indicated by preliminary EM responses. The preliminary data has
identified several anomalous areas that the geologic team is eager
to evaluate, in particular specific targets across the E&L and
Palm Springs property associated with previous geophysical and
geochemical anomalies that are near drill ready targets.
Garibaldi is expecting full survey results imminently. Once
detailed analysis and interpretation of the final data is
completed, the Company will focus plans on the next stage of
exploration including geological and geochemical surveys and drill
testing on the highest priority geophysical anomalies and high
potential areas.
Casper Targets:
Garibaldi drilled four shallow diamond drill holes last December
to test three separate quartz veins, two of which contain visible
gold and a mineralized silicified volcanic unit that also contained
visible gold. All four holes intercepted gold mineralization. See
February 12, 2021 news release for
details.
- The 2021 drill program will test along trend of the known
mineralized vein system to both the northwest and southeast, as
well as down dip while simultaneously targeting silicified volcanic
units which have hosted gold mineralization in both outcrop and
core.
- The mapping of four separate rock units containing gold at
Casper, has elevated expectations with regards to the potential for
the system to represent a bulk mineralized zone, with over 120
meters of systematic trenching of high grade gold in quartz
veins that may be the surface expression of targets at greater
depth.
- Newly acquired SkyTEM data has identified steeply dipping high
resistivity breaks within stronger conductive zones coincident with
the known Casper system, which is composed of quartz veins and
silicified volcanics. Only one hole to date has exceeded 150 meters
in depth.
- Two additional high resistivity breaks were identified north of
the known mineralized system, as well as significant high
resistivity areas trending continuously to the northwest from the
known system. These peripheral targets may also be tested in this
drilling campaign.
The Casper high-grade quartz gold vein system remains open with
select rock samples exceeding 1.0g/t gold extending along
trend for 330 meters within a 500-meter-wide gold-in-soil anomaly.
Multiple selected grab samples with visible gold taken from a
trench on the east side of the main Casper vein returned
exceptional gold grades, see news dated Sept.22, 2020. Casper
provides another remarkable drill target that continues to
expand.
Steve Regoci, Garibaldi's CEO,
stated: "The challenge for our geological team is the significant
number of base and precious metal showings sampled along these
deep-seated structural trends. The ZTEM survey data will help to
define, rank and prioritize deeper conductive anomalies. Even as
drilling at the E&L and Casper discoveries expands the
mineralized potential within the Eskay Claim Group, new targets at
Palm Springs, triple faults and Mount Shirley continue to emerge
for follow up."
VP of Exploration Jeremy Hanson stated "Our highest priority at
Casper is vectoring towards the source of the high-grade gold veins
and gold bearing silicified volcanics. The hydrothermal system
where these fluids originated from has the potential to be another
significant discovery in the Golden Triangle. While we are
currently focused on actively exploring Casper, we are eagerly
awaiting full final data and 3D inversion for the property wide
ZTEM survey"
Qualified Person
James Hutter, P.Geo., 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.
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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content:https://www.prnewswire.com/news-releases/garibaldi-drilling-shifts-to-casper-301399057.html
SOURCE Garibaldi Resources Corp.
