Casper Vein Returns 30 G/T GOLD Along Strike to the South-East
CASPER VEIN RETURNS 30 G/T GOLD
ALONG STRIKE TO THE SOUTH-EAST
TSXV: GGI
OTC: GGIFF
Frankfurt
: RQM
VANCOUVER, BC
,
May 13, 2022
/CNW/ - Garibaldi Resources (TSXV: GGI) (the "
Company
" or
"
Garibaldi
") is pleased to announce results from early-stage exploratory drill holes testing multiple
mineralized veins and volcanic rock units at the Casper Quartz Gold Vein System (see news release
October 31, 2021
). Drilling at Casper, 20km north of E&L in the Eskay Camp of
Northwestern British
Columbia
, was completed in late 2021.
Five diamond drill holes followed-up the first four holes into the Casper Discovery reported on
Feb. 12
2021. Eight of the nine holes have intersected significant gold mineralization, with
increasing gold grades towards the southeast.
Drill core samples from silicified volcanic rocks containing quartz-carbonate-sulfide veins at a
depth of
129.5 m
returned 10.15 g/t gold over
4.5 m
(CAS-21-05: 129.5-
134m
), including 29.94
g/t gold over
1.5 m
(CAS-21-05: 129.5-
131m
). This intercept may be continuous with the 4-
meter-thick mineralized silicified unit containing visible gold intercepted in 2020, located
approximately
65 m
to the northwest (see news dated
Feb. 12, 2021
). This hole validates the
exploration concept that gold mineralization is associated with a broad silicified volcanic unit
rather than discrete local veins, expanding the potential for a much larger gold-bearing mineral
system.
Elevated gold abundances along a
260m
strike length are confirmed by drilling, and the system
remains open with increasing potential to the southeast. Previously reported surface trenching
has also exposed the Casper vein for over
120m
strike length, and select rock samples
exceeding 1.0 g/t Au occur at surface for over
330m
, within a
500 m
wide zone of anomalous
gold concentrations in soil.
Fine grained visible gold has been intercepted in both 2021 and 2022 drilling as well as 2022
trenching. Multiple grab samples with visible gold trenched in 2020 from the east side of the
main Casper vein returned 249.0, 92.3, 75.3 and 58.4 g/t gold (see news dated
Sept. 22, 2020
)
Exploration at Casper has identified a continuous zone of gold-rich quartz vein mineralization in
association with soil geochemical gold anomalies and extensive rock-chip gold anomalies both along
strike and across strike indicating potential for multiple sub-parallel veins of mineralization. The
development of silicified country rocks with elevated gold content, and the complex structural
relationships evident from the LiDAR data highlight the potential that the results sit on the edge of a
much larger gold-bearing mineral system where altered country rocks and quartz veins with elevated
gold are controlled by NW-SE and N-S lineaments corresponding to a shear zone. An exciting
opportunity exists to expand the footprint of the mineral zone and identify structurally-controlled
blow-outs with economically interesting grade and thickness of gold-silver mineralization.
Jeremy Hanson
, Garibaldi VP-Exploration, stated: "We are very encouraged by the second round of
drilling results at Casper. We are still in the very early stages of this project, but we have confirmed
that gold is present in both veins and the silicified host rocks. This verifies that the Casper system
could be another gold rich system in the Eskay Camp."
Steve Regoci
, Garibaldi CEO stated "The Casper discovery continues to bolster our impressive
Eskay area precious metal prospects. It is the first gold system discovered amongst our numerous
gold showings which will be the focus of a separate exploration initiative along with Palm Springs
during 2022.
The high-grade Ni-Cu-PGE E&L system at Nickel Mountain is the primary focus along with numerous
base metal targets identified from the results of the property wide ZTEM geophysical survey. These
new base and precious metal targets will provide additional opportunities for significant discoveries
in the Golden Triangle."
Drill Hole Results Table – CAS-21-05 to CAS-20-09 (CNW Group/Garibaldi Resources Corp.)
Drill Hole Coordinates Table
Hole
Easting*
Northing*
Elevation
(MASL)
Azimuth
(°
)
Dip
(°
)
Length
(m)
CAS-21-05
397432
6284599
432
068
-55
248
CAS-21-06
397380
6284653
426
000
-55
210
CAS-21-07
397382
6284652
426
044
-55
180
CAS-21-08
397303
6284690
431
024
-50
262
CAS-21-09
397301
6284690
432
000
-50
253
*UTM Zone 9N WGS 84
Figure 1 – Drill hole traces from 2021-2022 along showing extent of gold mineralization in core and
at surface. Drilling has confirmed gold mineralization is present along strike for over 220m, remains
open and increases in grade to the southeast. Which is concurrent with exposed surface
mineralization before system extends under cover. (CNW Group/Garibaldi Resources Corp.)
Casper Drilling Plan
& Sections Maps
See
www.garibaldiresources.com
for the latest Casper maps & sections outlining mineralized veins
and volcanics units.
Quality Assurance/Quality Control (QA/QC)
Garibaldi Resources has applied a rigorous quality assurance/quality control program at the Casper
Project using best industry practice. All core was logged by a geoscientist and selected intervals
were sampled. 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 sample batches included
5% QA/QC samples consisting of certified blanks, standards and field duplicates. Multiple certified
assay laboratory standards and one blank standard were used in the process. Samples were
prepared by crushing the entire sample to 75% passing 2mm, riffle splitting 250g and pulverizing the
split to better than 85% passing 105 microns. Gold was analyzed using a 50-gram fire assay and
ICP-AES, or metallic screen for coarse gold. Samples with coarse visible gold are subject to the
nugget effect, may be difficult to reproduce or duplicate and may not be indicative of the overall
mineralization of the vein. Samples with visible gold were analyzed using the Metallic Screen method
where a minimum 500 gram sample is crushed and separated into two batches. A Minus batch with
particles less than 106 microns, and a Plus batch with particles greater than 106 microns. Both
batches of the sample are analyzed with a fire assay and finished with AAS, ICP-OES or gravimetric
depending on grade. A final weighted average is calculated.
Sample 71604 (CAS-21-05 129.5-
131m
) was submitted for fire assay with gravimetric analysis and
returned a value of 27.9 g/t Au. Following this result, two duplicates were prepared at the lab from
the initial drill core sample and submitted for metallic screening procedure at 106 um mesh followed
by fire assay with gravimetric analysis, and a separate fire assay with gravimetric analysis to
confirm the initial result. Metallic screen returned a value of 31.43 g/t Au, with the secondary fire
assay and gravimetric analysis returning a value of 30.51 g/t Au for an overall average of 29.94 g/t
Au
Qualified Person & Data Verification
Jim Hutter
, P.Geo., 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. Hutter 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
SOURCE
Garibaldi Resources Corp.
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For further information:
GARIBALDI RESOURCES CORP., 1150 - 409 Granville Street,
Vancouver, BC V6C 1, Telephone: (604) 488-8851, Website: GaribaldiResources.com
CO: Garibaldi Resources Corp.
CNW 07:30e 13-MAY-22