Garibaldi Broadens Nickel Mountain System
Garibaldi Broadens Nickel Mountain System
TSXV: GGI
OTC: GGIFF
Frankfurt
: RQM
VANCOUVER
,
Dec. 6, 2018
/CNW/ - Garibaldi Resources Corp. (TSX.V: GGI) (the "Company" or
"Garibaldi") is pleased to announce the successful completion of the first full season of drilling at the
company's 100%-owned Nickel Mountain Project in the heart of the Eskay Camp, the Golden
Triangle's first nickel-copper-cobalt-platinum-palladium-gold-silver magmatic massive sulphide system.
The 2018 program produced 11,573 meters of drill core, more than three times last year's meterage.
To date, drilling and extensive surface work at the Nickel Mountain deposit has identified three
relatively shallow zones (Discovery, Central, Northwest) including a newly identified sulphide body 30
meters above the Discovery Zone at a depth of just 80 meters. Each of the zones remains open in all
directions and features top tier massive sulphide grades of an unusually pure composition according to
Dr.
Peter Lightfoot
, Garibaldi Technical Adviser who's recognized as one of the world's leading nickel
sulphide experts. Meanwhile, a combination of field work and step-out drilling over the summer and fall
have confirmed that the Nickel Mountain Gabbroic Complex strikes northeast for at least 3 km and
extends across strike for at least 1 km.
Steve Regoci
, President and CEO, commented: "Not only have we made important progress in
expanding the footprint of this nickel-copper-rich mineralization, but our geological understanding of this
unique Eskay Camp system – from the configuration of the intrusion to the controls on mineralization -
has advanced dramatically over last year. We'll enter 2019 with working capital of approximately
$15
million
which puts us in a highly favorable position to take Nickel Mountain to the next level and fully
leverage this asset for shareholders."
Assay results for 10 drill holes from this year's program have been reported by the Company and
complete results are pending for an additional 22 holes which will be released in batches as soon as
they are received, reviewed and interpreted.
Additional Highlights:
The E&L icefield retreated in unprecedented fashion this summer, exposing more previously
hidden outcrop than in any year since the original surface discovery in the late 1950's based on
historic photos of Nickel Mountain. This led to the discovery of multiple new massive sulphide
showings, particularly in the Central Zone where mineralization is trending to the north beneath the
1.6-km-long, 1-km-wide E&L ice sheet;
The quality of the massive sulphide mineralization at Nickel Mountain is unusually high due to well-
developed granular pentlandite and minimal nickel in the pyrrhotite (<0.6 wt%);
Exploration drilling in the plumbing system of the E&L Intrusion has indicated important favorable
geology, revealing additional new potential at depth;
Olivine gabbros with unusual variable textures extending to depth indicate a dynamic complex at
Nickel Mountain where the root zone of the intrusion has been impacted by post-magmatic
deformation processes. Geological, geochemical, structural and geophysical data collected in the
2017 and 2018 programs is being used to construct a 3D model of the mineral system which will
help guide 2019 exploration.
Dr. Lightfoot commented, "Increasingly, Nickel Mountain represents an important new discovery within
the Eskay Rift. The project is ideally positioned to leverage the demand from dramatically declining
nickel-cobalt sulphide discoveries and the resulting depletion of high quality nickel inventories required
to fuel the electric vehicle battery revolution."
Nickel Mountain Geology/Mineralization Map
To view Nickel Mountain maps and core photos for reported drill holes, please visit the Garibaldi web
site at
www.GaribaldiResources.com
or visit the following URL:
http://www.garibaldiresources.com/i/pdf/2018-10-31-nickel-mtn-geology-min.pdf
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 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
Mexico
and
British Columbia
. 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.
View original content:
http://www.newswire.ca/en/releases/archive/December2018/06/c5287.html
%SEDAR: 00004262E
For further information:
GARIBALDI RESOURCES CORP. 1150 - 409 Granville Street Vancouver,
BC V6C 1T2, Telephone: (604) 488-8851, Website: GaribaldiResources.com
CO: Garibaldi Resources Corp.
CNW 18:42e 06-DEC-18