Nickel Mountain Ztem Reveals Strong Anomaly Beneath E&l
NICKEL MOUNTAIN ZTEM REVEALS STRONG
ANOMALY BENEATH E&L
VANCOUVER, BC
,
March 31, 2022
/CNW/ - Garibaldi Resources (TSXV: GGI) (the "Company" or "Garibaldi") is
pleased to report on the deep penetrating 2021 ZTEM survey completed by Geotech over Garibaldi's 180 sq.km
Nickel Mountain – PSP Claim Groups, in the Eskay Camp of northwest
British Columbia
. The results of proprietary 3D
inversion processing, has identified a large anomalous zone directly below, along trend and continuous with the drill
confirmed mineralized E&L gabbro.
Most significantly, the large low resistivity / elevated conductivity ZTEM response beneath the limits of drilling at E&L,
is broad, continuous and plunges directly below the nickel-copper-cobalt PGE bearing intrusion, which is host to
numerous high grade massive sulphide lenses (Figure 1). This response along the keel of the E&L Intrusion is
surprising in scale, with an east-west lateral extent exceeding 3km width and plunging over 2 kms to below the valley
floor at the base of Nickel Mountain (Figure 2).
The center of the ZTEM response beneath E&L is located
400m
below the thickest portion of the mineralized
differentiated Eastern extension of the E&L Intrusion, indicating where the mineral system may continue at depth. The
up-plunge of the ZTEM anomaly extends towards surface in the area of the West E&L targets, where mineralized
boulders of E&L type gabbro with similar sulphide mineralization to E&L are associated with outcropping gabbros
(Figure 3). The entire keel of the E&L Intrusion from West E&L along the plunge trend is untested and may be part of
a bladed dyke in which mineralization was concentrated in multiple magma conduits.
The large ZTEM response beneath E&L greatly expands the potential for further discovery beneath and around E&L.
The survey also revealed numerous anomalous responses throughout the remainder of the property, many of which
correspond to surface mineralization. Garibaldi's technical team will be evaluating these additional anomalies and
reporting on these targets in the coming weeks.
ZTEM is an airborne electromagnetic survey system which detects anomalies in the earth's natural magnetic field.
These disruptions are caused by zones of rock that conduct or resist electrical current more than the surrounding
rock, which may represent mineralization, to depths of up to 2000 meters. The ZTEM survey results will help to
identify potential deep-seating mineral zones in areas with prospective geology, mineral occurrences and/or shallow
conductive response.
E&L ZTEM HIGHLIGHTS
The ZTEM response down plunge and below the existing E&L intrusion may be due to a much larger mineralized
intrusion in the plane of E&L, just beyond existing drill holes.
The trend of the ZTEM response extends towards the surface at West E&L where the possible source of
boulders of variable textured and orbicular gabbro with magmatic sulphide mineralization are located. These
sulphides have similar metal concentration to the disseminated sulphides of the E&L mineral zone.
Drilling in 2020 intersected a thick differentiated intrusion comprising olivine gabbro and olivine pyroxenite along
the predicted structural plunge of the E&L mineral zone and the ZTEM response. This intrusion is mineralized with
disseminated to net-textured magmatic sulphide as reported previously. The low resistivity ZTEM response may
represent a continuation of the mineralized system, with potential to host additional high grade massive sulphide
lenses.
Figure 1 – North – South section displaying a continuous low resistivity / elevated conductivity zone directly beneath
and along trend of the known E&L mineralized system (CNW Group/Garibaldi Resources Corp.)
Figure 2 – East West section displaying the low resistivity / conductive zone beneath E&L. The up-plunge trend of the
zone leads towards E&L West, where mineralized float boulders have been discovered in the vicinity of potential
VTEM conductors from the 2017 survey. (CNW Group/Garibaldi Resources Corp.)
Figure 3 – North – South section displaying the low resistivity zone trending towards a VTEM response under glacier
cover. Nearby boulders returned up to 0.88% Ni and have identical orbicular textures to the known well mineralized
E&L gabbro. (CNW Group/Garibaldi Resources Corp.)
Please see the latest E&L ZTEM presentation posted on
www.GaribaldiResources.com
for additional detailed
information including a Section Plan Map, and details on numbered targets 1 -7, which are displayed on Figures 1 – 3.
Garibaldi's technical team is interpreting the remainder of the ZTEM survey covering the entirety of the Nickel
Mountain – PSP claim blocks, combining all the geological, geochemical, geophysical and remote sensing survey
data. The most important results after E&L include multiple target locations associated with mineral occurrences
which will provide the company with a list of exploration targets for follow up drill testing. The impressive ZTEM 3D
inversion data will help with the immediate focus on important new drill targets at E&L The survey results will also help
prioritize exploration across the areas where Garibaldi has results from previous work.
Peter C. Lightfoot
, Technical Advisor to Garibaldi commented; "The untested exploration potential extending from
West E&L beneath the keel of the E&L Intrusion is supported not only by the co-planar conductive signal, but also by
the geometry of the bladed dyke-like E&L Intrusion. The metal endowment of the E&L Intrusion is sufficiently
extensive that an open system magma conduit is required to generate the mineral zones. The exploration potential of
the keel zone at E&L is supported by a range of geological, geochemical and geophysical indicators that provide
targets for drilling."
VP of Exploration Jeremy Hanson stated: "The ZTEM survey returned the best-case scenario, exactly what we were
hoping for, a large continuous low resistivity zone directly beneath E&L along our modelled trend of the system. We
are certainly excited to get back to drilling and test this geophysical target for E&L style mineralization."
Steve Regoci
, Garibaldi's CEO, stated: "The final results from our ZTEM survey, demonstrates the remarkable
potential of Nickel Mountain and the Palm Springs claims. The analysis and interpretation by our exceptional team of
geologists and geophysicists has been extraordinary. The results of the ZTEM survey identified more exciting new
targets over Garibaldi's Eskay Claim group which we'll report on shortly. Plans for 2022 drilling at E&L are underway
along with studies for drilling further downslope and possibly from the valley floor."
Qualified Person
James Hutter
, P.Geo., 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.
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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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 31-MAR-22