Massive Sulphides Mount Up at Garibaldi's Nickel Mountain
Massive Sulphides Mount Up at Garibaldi's Nickel
Mountain
TSXV: GGI
OTC: GGIFF
Frankfurt
: RQM
VANCOUVER
, Sept. 24, 2018 /CNW/ - Garibaldi Resources (TSXV: GGI; OTC: GGIFF) is pleased to announce that
assays from the first holes of the continuing drill program at its 100%-owned Nickel Mountain Project in the Eskay
Camp have confirmed wide intervals of near-surface nickel-copper-rich sulphide mineralization, also including cobalt,
platinum, palladium, gold and silver, in all directions surrounding the 2017 Discovery zone.
Plan view and section view of mineralization at Garibaldi's Nickel Mountain (CNW Group/Garibaldi Resources Corp.)
Drilling in the coming days will step out as much as
1.3 kilometers
northeast of the Discovery zone to target a
potential major expansion of the Golden Triangle's first magmatic nickel-copper-rich sulphide system. With three drill
rigs at Nickel Mountain, 11 miles southwest of the Eskay Creek mine, Garibaldi continues to build out the Discovery
zone while stepping out aggressively in all directions.
Drilling highlights (assayed holes):
EL-18-22, collared 186 meters (m) west-southwest of EL-17-14, intersected
12.5 m
@ 4.3% Ni and 2.7% Cu
plus three additional mineralized zones (
21
m,
28.7
m and
11.4
m) within the first
150 m
(extends the massive
sulphide zone
42 m
west-southwest of EL-17-14 massive sulphide zone)
EL-18-20, collared
75 m
west of EL-17-14, intersected
30.5
m @ 3.1% Ni and 1.9% Cu
including
8.4 m
@ 7.8%
Ni and 3.3% Cu
(extends the massive sulphide zone
20 m
west of EL-17-14)
EL-18-19, collared
75 m
west of EL-17-14, intersected
34.9 m
@ 2.0% Ni and 1.6% Cu
including
5.7 m
@ 7.3%
Ni and 5.1% Cu
(extends the massive sulphide zone
14 m
west-southwest of EL-17-14)
EL-18-16, collared
76 m
west of Discovery Hole EL-17-14, intersected
34.1 m
@ 2.4% Ni and 1.5% Cu
including
7.4 m
@ 7.9% Ni and 3.9% Cu
(extends the massive sulphide zone
50 m
southeast of EL-17-14)
Melting Icefield Exposes Massive Sulphides North And East Of Discovery Zone
The peak of the summer ice melt has exposed a "ring" of never previously seen Nickel Mountain mineralization
including massive sulphide outcrops and a massive sulphide boulder train around the receding margins of the E&L
icefield, which is up to 1.6 km long and up to 1 km wide, immediately adjacent to the Discovery and Northwest zones.
Significantly, geologists have also identified variable textured gabbro (taxite, a key indicator) outcropping at the
northern edge of the icefield, coincident with an encouraging VTEM geophysical signature and
1,300 m
from EL-17-
14. Sampling and mapping of these important new surface discoveries continues. Drilling will test the possibility that
this very broad area untested beneath the ice hosts nickel-copper-rich sulphide mineralization at depth.
Steve Regoci
, President and CEO of Garibaldi, commented: "The potential scale of the Nickel Mountain system, and
the high grades and metal tenors confirmed within the growing footprints of the Discovery zone-Northwest zone
corridor, continue to excite our team of nickel sulphide experts. We've already more than doubled last year's total
meters drilled (
8,000 m
vs.
3,671 m
, drilling of hole #36 is now in progress) and we've started the process of
stepping out dramatically in multiple directions from the Discovery zone to follow both the geology and our state-of-
the-art geophysics data from borehole EM and VTEM.
"We now expect a steady flow of results and a very exciting fourth quarter as drilling extends deep into the season to
capitalize on the growing opportunity for new discoveries. Geologists are targeting the mineralized 'throat' areas of an
extensive magmatic system. Our current working capital position is very strong at
$20 million
," Regoci concluded.
Dynamic Magmatic Sulphide System With Deep Roots
Dr.
Peter Lightfoot
, one of the world's premier nickel sulphide experts and Garibaldi's technical advisor, commented:
"The strong endowment of the massive and disseminated sulphide mineralization at Nickel Mountain is directly related
to olivine gabbros that exhibit an unusual variable texture in drill core and outcrop. These rocks are grouped as
taxites. A 3D geological model for the mineral zones and the host rocks is evolving as drilling and surface mapping
uncovers more information to anchor the geometry of the contacts and the structures that offset the Intrusion.
"It is now clear that the E&L Nickel Mountain Intrusion comprises at least three structurally offset segments, and all
three contain disseminated and massive sulphide mineralization. Moreover, petrological and geochemical
investigations of the taxitic gabbros indicate that the roots of the Intrusion extend at least 462 meters beneath the
E&L, where EL-18-18 intersected taxitic gabbro from 421.1 to
462.5 m
, and more widely within the Nickel Mountain
Gabbro Complex extending well beyond the Discovery zone.
"There is strong evidence for an open-system emplacement history through 'magma highways from the mantle',
indicating a mineralizing event of considerable scale with nickel grades in massive sulphides that are in the very top
echelon," Dr. Lightfoot concluded.
Everett Makela
, Garibaldi VP-Exploration, stated: "Of particular importance is the recognition of the taxites, variable
textured olivine gabbros, as the productive rock units of the Intrusion. Identification of this conduit architecture has
been fundamental to our exploration success. The discovery of outcrops of melagabbros with taxitic textures 1.3 km
to the northeast on the edge of the receding glacier, and massive sulphide boulders located along the glacier margins,
speak to the potential of greatly expanding the scale of this fertile environment as we know it."
Table 1: Composited grade intervals of holes 15 to 22 (>1% Ni+Cu)
Interval
code
Hole
#
Interval width
(from - to)
Ni
%
Cu
%
Co
%
Pt
g/t
Pd
g/t
Au
g/t
Ag
g/t
Ni+Cu
%
A
EL-18-22
over 21.0m (16.0 - 37.0m)
0.69
0.77
0.025
0.251
0.376
0.255
4.3
1.46
B
EL-18-22
over 28.72m (62.13 - 90.85 m)
0.67
0.57
0.027
0.092
0.200
0.083
2.0
1.24
including
over 10.35m (80.5 - 90.85m)
1.07
0.91
0.043
0.090
0.246
0.076
2.2
1.98
* And
over 1.5m (85.0 - 86.5m)
4.18
2.51
0.162
0.217
0.532
0.113
5.6
6.69
C
EL-18-22
over 11.4m (103.7 - 115.1m)
0.56
0.44
0.023
0.134
0.341
0.095
2.9
1.00
D
*EL-18-22
over 12.5m (145.0 - 157.5m)
4.26
2.71
0.106
1.418
3.165
1.100
9.8
6.97
** including
over 4.45m (145.95 - 150.4m)
7.06
4.70
0.173
2.459
6.303
1.416
14.4
11.77
E
EL-18-21
over 27.5m (92.0 - 119.5m)
0.79
0.77
0.029
0.197
0.466
0.201
4.5
1.56
including
over 16.5m (92.0 - 108.5m)
1.04
0.93
0.033
0.238
0.444
0.243
5.3
1.97
F
EL-18-20
over 9.1m (57.4 - 66.5m)
0.47
0.58
0.017
0.280
0.511
0.294
3.7
1.05
G
EL-18-20
over 30.5m (102.0 - 132.5m)
3.10
1.86
0.081
0.863
1.776
0.739
7.3
4.96
** including
over 8.4m (122.7 - 131.1m)
7.77
3.29
0.209
1.159
2.329
0.792
8.7
11.06
H
EL-18-19
over 34.87m (92.0 - 126.87m)
1.97
1.61
0.050
0.768
1.625
0.521
6.7
3.57
** including
over 5.74m (118.13 - 123.87m)
7.26
5.11
0.170
2.251
5.945
0.905
16.1
12.37
I
EL-18-18
over 21.1m (7.7 - 28.8m)
0.64
0.70
0.021
0.201
0.311
0.218
3.7
1.34
J
* EL-18-18
over 0.75m (68.7 - 69.45m)
2.72
1.36
0.120
0.140
0.223
0.017
5.5
4.08
K
EL-18-17
over 1.85m (70.3 - 72.15m)
0.52
0.51
0.016
0.205
0.322
0.180
1.0
1.03
L
EL-18-16
over 6.0m (101.8 - 107.8m)
2.32
1.27
0.061
0.297
0.336
0.345
5.2
3.59
* including
over 3.0m (104.8 - 107.8m)
4.14
1.98
0.110
0.438
0.520
0.496
6.5
6.13
M
EL-18-16
over 34.15m (110.65 - 144.8m)
2.40
1.49
0.067
0.697
1.314
0.482
5.7
3.89
** including
over 7.4m (135.9 - 143.3m)
7.89
3.92
0.201
1.851
3.419
1.068
8.8
11.81
N
EL-18-15
over 24.0m (83.5 - 107.5m)
1.21
0.69
0.035
0.226
0.364
0.169
2.5
1.90
** including
over 1.98m (101.72 - 103.7m)
6.17
2.16
0.172
0.507
0.727
0.190
5.3
8.33
** And
over 0.58m (105.92 - 106.5)
6.34
1.43
0.166
0.390
0.379
0.109
4.7
7.77
Combined 1% nickel-copper is a minimum threshold for comparative analysis of composites.
**Denotes massive sulphides (>75% sulphides). *Denotes semi-massive sulphides (50% to 75% sulphides).
Intervals are core lengths (true widths unknown at this time).
Table 2: 2018 Drill hole collar co-ordinates for holes 15 to 22
Hole
Zone
Easting*
Northing*
Elevation
(mASL)
Azimuth
Dip
Length (m)
EL-18-22
Discovery
396111
6271476
1883
092
-70
253.0
EL-18-21
Central
396219
6271505
1863
360
-90
230.0
EL-18-20
Discovery
396219
6271505
1863
230.5
-70
231.3
EL-18-19
Discovery
396219
6271505
1863
224
-73
198.0
EL-18-18
Central
396113
6271473
1885
106
-62.5
535.2
EL-18-17
Central
396220
6271506
1865
208
-58
219.0
EL-18-16
Discovery
396184
6271505
1870
139
-54
283.0
EL-18-15
Discovery
396220
6271506
1865
223.5
-59
385.0
*UTM Zone 9N WGS 1984, True North azimuths
Regional Exploration Update
A property-wide program of mapping and prospecting is ongoing, focusing on VTEM anomaly areas, outcrop
exposures along the interpreted northeast trend of the E&L Nickel Mountain Intrusion, and key drainage areas. In
conjunction with this program, additional VTEM surveys have been flown to validate and expand upon previous survey
results and provide detailed coverage over newly-identified prospective areas. An update on the results will be
provided when all data has been validated and incorporated into the exploration model.
Maps and Photos
Updated schematic cross-section and plan view maps will be posted this morning on the Garibaldi web site (
GaribaldiResources.com
), or visit the following URL:
http://www.marketsmartnewsletter.com/Garibaldi/PlanViewCrossSectionMaps.jpg
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 or under the supervision of an accredited 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, B.C.
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, B.C.
Samples were
submitted to SGS Canada Inc. in
Vancouver, B.C.
, an ISO 9001: 2008 certified lab, for base metal, sulphur and
precious metal analysis using Inductivity Coupled Plasma (ICP), Fire Assay and Leco methods.
Samples were prepared by crushing the entire sample to 75%, passing 2 mm, 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 sulphur and total carbon were analyzed using a Leco method. Nickel, copper, cobalt, silver and
base metals were analyzed by 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
, P.Geo., a Qualified Person as defined by NI-43-101.
Qualified Person & Data Verification
Mr.
Everett 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, and has 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
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
.
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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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 07:00e 24-SEP-18