Garibaldi Gears Up for Drilling at Nickel Mountain
Garibaldi Gears Up for Drilling at Nickel Mountain
TSXV: GGI
OTC: GGIFF
Frankfurt
: RQM
VANCOUVER
,
May 18, 2018
/CNW/ - Garibaldi Resources (TSX.V: GGI) (the "Company" or "Garibaldi") is pleased to provide the following
exploration update as additional crews fill an expanded 40-person camp near the Eskay Creek mine to launch the most extensive drill campaign in
Company history at the nickel-copper-rich Nickel Mountain massive sulphide discovery.
Highlights:
In support of drilling, which will commence in approximately 7 days, state-of-the-art geophysics utilizing HeliSam hybrid ground-air
technology is now being carried out over a broad area in all directions surrounding the high-grade discovery zone;
This cutting edge survey by Discovery Geophysics International (HeliSam) will provide valuable new information in real time for precise drill
hole locations within the HC-1 conductor target area interpreted by renowned
Sudbury
geophysicist
Alan King
as drilling steps out initially
to the south of EL-17-14 (see
January 25, 2018
news release);
Preliminary results from the VTEM survey completed during Q1 have extended the Nickel Mountain trend of conductors by 3.5 km to the
northeast while also revealing multiple new gold-VMS target areas on the Palm Springs Property, part of Garibaldi's 200 sq. km Eskay
Camp land package.
Steve Regoci
, Garibaldi President and CEO, commented: "Given 'proof of concept' achieved with geophysics at Nickel Mountain last year, which
gave us this game-changing high-grade nickel sulphide discovery in the Eskay Camp, we have 'doubled down' on the best technology to efficiently
target potential new massive sulphide zones.
"Supported by a treasury currently at
$26 million
, the Garibaldi base camp plus our operations at the top of Nickel Mountain have been expanded
and upgraded to allow for drilling well into the winter season," Regoci concluded.
Nickel Mountain Discovery Draws Industry Leading Geophysics
Industry leader Lamontagne Geophysics Ltd. is well known for its important contributions to new nickel sulphide discoveries in the
Sudbury
basin
through its deep-borehole electromagnetic technology. At Nickel Mountain, Lamontagne will provide follow-up drill hole surveys for Garibaldi's
2018 drill program with its proprietary BHEM tools to complement the Discovery Geophysics International HeliSam survey now underway to
detect additional conductive anomalies at Nickel Mountain.
Discovery owns the exclusive North American rights to HeliSam hybrid ground-air technology which is ideally suited to locate conductors
potentially representing massive sulphides in rugged terrain such as the Eskay Camp. Discovery will deploy approximately 18 kilometers of heavy
gauge, insulated copper wire configured in a number of ground loops for deep and rapid airborne exploration using a helicopter towed high
sensitivity B-field receiver system.
It should be noted that geophysical targets are interpretations subject to limitations on data and modeling. While geophysics has been effective at
Nickel Mountain, geophysical targets should only be viewed as guides to drilling and sampling.
Everett Makela
, Garibaldi VP Exploration Canada, stated: "Nickel Mountain is all about the 'science of discovery'. Cutting edge technology and
innovative new exploration concepts have helped reveal a unique 7-suite mineral system with top tier nickel grades in the heart of a producing gold
camp. Our team is exceptionally upbeat and driven as we prepare to build out the Nickel Mountain discovery."
Eskay Camp Area Map
To view the location of the E&L Project, Garibaldi's other large landholdings in the Eskay Camp, and properties of all other companies in this
prolific district, please visit GGI's web site or the following URL:
http://www.garibaldiresources.com/i/photos/king/GGI-Aug-25-Eskay-Camp-Area-Map.jpg
Qualified Person
Mr.
Everett Makela
, P.Geo., Director/VP Exploration Canada for the Company, and a qualified person as defined by NI-43-101, has reviewed
and approved the technical disclosure 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
Mexico
and
British Columbia
.
GARIBALDI RESOURCES CORP
Per:
"Steve Regoci"
Steve Regoci
, President & CEO
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-gears-up-for-drilling-at-nickel-mountain-300650890.html
SOURCE
Garibaldi Resources Corp.
View original content: http://www.newswire.ca/en/releases/archive/May2018/18/c8667.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 07:30e 18-MAY-18