Giga Metals Stakes Exploration Permits in Brazil Identifies New Greenfields Sediment-Hosted Copper Prospects Piauí State, Nordeste, Brazil
February 1 2021 TSX.V - GIGA
Giga Metals Stakes Exploration Permits in Brazil
Identifies New Greenfields Sediment-Hosted Copper Prospects Piauí State,
Nordeste, Brazil
(Vancouver) – Mark Jarvis, CEO of Giga Metals Corp. (TSX.V – GIGA) announced today
that Giga has acquired exploration permits covering significant new regional sediment-
hosted copper anomalies along the southern perimeter of the Parnaíba Sedimentary Basin
in southern Piauí State, Northeast Region, Brazil. The Company has staked 24 exploration
permits totaling 40,722 hectares in four properties along 80 kilometers of strike length in
an area with known “Kupferschiefer-style” sediment hosted copper mineralization.
“Acquisition of this land package is the culmination of two years of research into the Sao
Francisco Basin, thought to be a continuation of the African copper belt in the DRC,” said
Mr. Jarvis. “We started by sorting through a mas sive regional data set using the services
of Vancouver based AI firm Minerva Intelligence Inc., then engaged Jon Hill and his team
at Exploration Outcomes, based in Belo Horizonte, to manage Giga’s operations and
exploration in this underexplored area of Brazil.”
The land package contains multiple, contiguous drainage basins highlighted by copper and
other stream sediment geochemical anomalies including silver, barium, bismuth, cobalt,
indium, antimony and thallium associated with sedimentary and carbonate rocks of the
Neoproterozoic/Cambrian Aracá Basin exposed along the southern fringes of the flat lying
Parnaiba Basin.
Oxide and sulphide copper mineralization has been identified in groundwater well hole
drill cuttings obtained from throughout the region. Analytical results from grab samples
of groundwater well cuttings on Giga’s Corrente Property range from anomalous to 3,110
ppm Cu and 5,790 ppm Cu (samples RK-106A and RK121A, respectively).
After initial identification of the region as a prospective are a for sediment-hosted copper
mineralization by Minerva’s AI analysis, the Exploration Outcomes geological team
supplied additional personal knowledge of previously observed copper occurrences in the
region, leading to the identification of the Aracá Basin as a target. A reconnaissance field
visit to the region in October 2019 confirmed the presence of sediment hosted copper
mineralization, including in the chips from three recently excavated water wells observed
Continued
-2-
across 20 kilometres . GIGA then contracted JAW Consulting of Colorado to model
available geophysical data sets (magnetics, gravity and radiometrics) to help delineate and
prioritize target areas based on interpreted structural setting and depth to prospective target
stratigraphy.
The new year brought multiple restrictions for fieldwork, including shut-downs due to the
Covid19 outbreak, but also 100-year flood events throughout southern Piauí State. Crews
were only able to return safely to the area in the late fall of 2020.
The preliminary work program completed late in 2020 included the collection of 102
stream sediment samples and 24 rock grab samples in the Corrente and Parnaguá permits
blocks. Although stream sediment sampling was completed roughly at 1 sample per square
kilometre and results are subdued , a broad cluster of the 67 samples collected in the
Corrente Permit Block were anomalous in copper (8 samples; 12.5 - 48 ppm Cu), cobalt (4
samples: 11 - 17 ppm Co); barium (4 samples; 500 – 800 ppm Ba) thallium (4 samples; 0.5
– 1.0 ppm Tl). Sampling on the Parnaguá Permit Block produced similar results, although
at a lower density due to access problems and lack of time.
Nest steps for GIGA include increased density stream sediment sampling, follow -up
prospecting and possible testing for copper mineralization using a water well drill.
Geological mapping is required to fully identify the extent of the likely stratigraphic host
rocks within the Aracá basin, notably where they are exposed by structural windows
associated with graben faults.
About Giga Metals
Giga Metals Corporation is focused on metals critical to modern batteries, especially those
used in Electric Vehicles and Energy Storage. The Company's core asset is the Turnagain
Project, located in northern British Columbia, which contains one of the few significant
undeveloped sulphide nickel and cobalt resources in the world.
Giga is also exploring for copper, another critical battery metal, in Brazil.
Scientific and technical information disclosed in this document has been reviewed and
approved by David Tupper, P. Geo., a Qualified Person consistent with NI 43-101.
On behalf of the Board of Directors,
“Mark Jarvis”
MARK JARVIS, CEO
GIGA METALS CORPORATION
Tel – 604 681 2300
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
-3-
FORWARD LOOKING STATEMENTS
Statements in this document which are not purely historical are forward looking statements,
including any statements regarding beliefs, plans, expectations or intentions regarding the future.
Forward looking statements in this news release include the Brazil project is prospective for copper,
the Company’s plans to undertake exploration activities at the Brazil Project and expend funds on
it. It is important to note that the Company's actual business outcomes and exploration results could
differ materially from those in such forward looking statements. Risks and uncertainties include
that Giga may not be able to fully finance exploration at the Project, including drilling; our initial
findings at the Project may prove to be unworthy of further expenditure ; commodity prices may
not support exploration expenditures at the Project; and economic, competitive, governmental,
environmental and technological factors may affect the Company's operations, markets, products
and share price. There are geopolitical risk s because the Proje ct is located in Brazil. Even if we
explore and develop the Project, and even if copper or other metals or minerals are discovered in
quantity, the project may not be commercially viable. Additional risk factors are discussed in the
Company's latest Management Discussion and Analysis which is available under Company's
SEDAR profile at www.sedar.com. Except as required by law, the Company will not update these
forward looking statement risk factors.
Suite 203 – 700 West Pender St., Vancouver, BC, Canada V6C 1G8
T: 604-681-2300 E: [email protected] W: www.gigametals.com