Garibaldi Expands Drilling, Adds Another $2.25 Million from Warrant Exercise
Garibaldi Expands Drilling, Adds Another $2.25 Million from
Warrant Exercise
TSX.V: GGI
OTC: GGIFF
Frankfurt: RQM
VANCOUVER
,
Sept. 27, 2019
/CNW/ - Garibaldi Resources (TSXV: GGI) (the "Company" or "Garibaldi") is pleased to provide the
following operational and corporate update as it continues to build out Northwest B.C.'s first magmatic nickel-copper-rich massive
sulphide system.
Highlights:
Ahead of the next set of assay results, due shortly, another drill rig has been added at Nickel Mountain where three ITL Diamond
Drilling Ltd. rigs are now in full operation. A first-ever drilling platform has been constructed on the E&L glacier to allow for even
more effective targeting, from a new geometry, of existing and potential new zones;
A total of
$2,247,000
has been received by the Company this week through the exercise of
$1.05
warrants. All warrants below
$4.50
have now been exercised, adding a total of
$5,598,000
to the Company's treasury in 2019;
Garibaldi is also making application to the TSX Venture for an extension of the
$4.50
warrants, set to expire
October 20, 2019
(2,539,683 warrants) and
October 31, 2019
(634,920 warrants), for one additional year.
Steve Regoci
, President and CEO, commented, "Our crews have become much more proficient in every aspect of exploration since
the initial E&L discovery. The impressive performance of the new rigs and recent results convinced us to mobilize a third rig and push
the limits for extending this season's program."
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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http://www.prnewswire.com/news-releases/garibaldi-expands-drilling-adds-another-2-25-million-from-warrant-exercise-300927008.html
SOURCE
Garibaldi Resources Corp.
View original content:
http://www.newswire.ca/en/releases/archive/September2019/27/c4988.html
%SEDAR: 00004262E
For further information:
1150 - 409 Granville Street, Vancouver, BC V6C-1T2, Telephone: (604) 488-8851 Website:
GaribaldiResources.com
CO: Garibaldi Resources Corp.
CNW 14:00e 27-SEP-19