TSXV: GGI
OTC: GGIFF
Frankfurt: RQM
VANCOUVER, Sept. 12, 2019 /CNW/ - Garibaldi Resources (TSXV:
GGI) (the "Company" or "Garibaldi") is pleased to provide the
following Nickel Mountain update including additional assay results
as 2019 diamond drilling continues to build out Northwest British Columbia's first magmatic
nickel-copper-rich sulphide system in the heart of the prolific
Eskay Camp.
Highlights:
- Drill hole EL-19-53, filling a gap on the northwest part of the
Lower Discovery Zone (LDZ), has cut 30.2 meters of 4.74% nickel and
3.22% Cu (plus cobalt and precious metals) including 18.2 meters of
7.04% nickel and 3.81% copper within a broader
intercept of 86.5 meters (65 m
to 151.5 m) averaging 1.88%
nickel and 1.32% copper (true width estimated at 69.2
meters);
- Drill hole EL-19-48 has intersected 7.12% nickel and
3.34% copper over 4.76 meters within 44.5 meters of 1.20%
nickel and 0.79% copper (true width estimated at 35.6 meters),
widening the LDZ by 12 meters to the northeast;
- Drill hole EL-19-54 (assays pending) has extended the Lower and
Upper Discovery Zones to the west by 14 meters and 33.5 meters,
respectively. Significantly, it has also intersected strongly
mineralized olivine gabbro at depth (302
m to 324.7 m) in a second
magma chamber that plunges toward the southeast where a potential
feeder zone may exist. EL-19-54 cut six separate intervals of
mineralization totaling 142 meters including a total of 8.9 meters
of massive sulphides and 133 meters of mineralized gabbro and
sediments;
- Additional assaying by SGS and Actlabs of selected interval
samples reported in 2017 and 2018 has revealed that the Nickel
Mountain massive sulphides are unusually enriched with rhodium,
iridium, osmium and ruthenium compared to global magmatic sulphide
mineralization.
Steve Regoci, Garibaldi President
and CEO, commented: "The improved structural understanding of the
known zones at Nickel Mountain is leading to increasingly robust
results and new discoveries. It has also aided us in developing
strategic new drill pad locations that now allow our crews to
explore the E&L from a different geometry.
"We eagerly anticipate providing investors with additional
updates including multiple new assay results during the second half
of September," Regoci added.
Drill Hole EL-19-53
EL-19-53, processed on a rush basis, represents the widest
massive sulphide intercept (18.2 meters) and the longest section of
continuous mineralization (86.5 meters) east of the historic
E&L deposit since Garibaldi discovered the high-grade Lower and
Upper Discovery Zones in its first-ever drill program at Nickel
Mountain in 2017.
Dr. Peter Lightfoot, Technical
Adviser to Garibaldi, commented: "The spectacular 18.24m interval of high-grade massive sulphide
from the Lower Discovery Zone in EL-19-53 demonstrates the
continuity of the mineralization, and encourages further drilling
to establish the vertical and lateral extent of this exceptionally
valuable style of mineralization.
"Drilling from a strategic new platform is also very significant
as Garibaldi takes this unique Northwest
British Columbia discovery to an even higher level," Dr.
Lightfoot added.
Significant Assay Results for Drill Holes EL-19-53 and
EL-19-48
Hole
#
|
Interval
width
(from -
to)
|
Ni
%
|
Cu
%
|
Co
%
|
Pt
(g/t)
|
Pd
(g/t)
|
Au
(g/t)
|
Ag
(g/t)
|
EL-19-53
|
over 86.46m (65.2 -
151.66m)
|
1.88
|
1.32
|
0.05
|
0.52
|
1.08
|
0.35
|
3.55
|
*including
|
over 30.22m (120.0 -
150.22m)
|
4.74
|
3.22
|
0.13
|
1.26
|
2.59
|
0.82
|
8.10
|
**including
|
over 18.24m (131.98 -
150.22m)
|
7.04
|
3.81
|
0.19
|
1.27
|
2.69
|
0.68
|
7.65
|
|
|
|
|
|
|
|
|
|
EL-19-48
|
over 44.5 m (78.0 -
122.5m)
|
1.20
|
0.79
|
0.04
|
0.29
|
0.56
|
0.24
|
2.61
|
**including
|
over 4.76m (111.16 -
120.92m)
|
7.12
|
3.34
|
0.20
|
1.05
|
2.02
|
0.69
|
9.38
|
*denotes semi-massive
sulphide (50 - 75% sulphide) and massive sulphide (>75%
sulphide)
|
**denotes
interval of massive sulphide (>75% sulphide)
|
Intervals are measured core lengths (true widths are estimated
to be 80% of reported intervals). Massive sulphides have not yet
been assayed for PGE rare metals.
Drill Hole Coordinates Table for Holes EL-19-53, EL-19-48 and
EL-19-54
Hole
|
Zone
|
Easting*
|
Northing*
|
Elevation
(MASL)
|
Azimuth
|
Dip
|
Length
(m)
|
EL-19-48
|
Discovery
|
396203.1
|
6271506.6
|
1866.6
|
145
|
-75
|
150
|
EL-19-53
|
Discovery
|
396238.6
|
6271503.2
|
1860.1
|
244
|
-56.5
|
171
|
EL-19-54
|
Central
|
396141.3
|
6271466.0
|
1886.5
|
55
|
-86.5
|
414
|
Nickel Mountain Massive Sulphides Contain PGE Rare
Metals
Additional assaying by SGS and Actlabs of selected samples from
intervals reported in 2017 and 2018 has revealed that the Nickel
Mountain massive sulphides are enriched with rhodium, iridium,
osmium and ruthenium. The abundance levels of these precious metals
are unusually high when compared to global magmatic sulphide
mineralization.
Below is a table showing the massive sulphide intercept from
previously released drill hole EL-17-14 (refer to December 8, 2017 news release) updated to show
the concentrations of rhodium, iridium, osmium and ruthenium.
EL-17-14 Massive Sulphide Intercept with Precious Metal
Abundances Shown for Rh, Ir, Os, and Ru
Hole
#
|
MASU
interval
(from -
to)
|
Ni
%
|
Cu
%
|
Co
%
|
Pt
(g/t)
|
Pd
(g/t)
|
Rh
(g/t)
|
Ir
(g/t)
|
Os
(g/t)
|
Ru
(g/t)
|
Au
(g/t)
|
Ag
(g/t)
|
EL-17-14
|
over
16.75m
(123.75 -
140.5m)
|
8.29
|
4.24
|
0.187
|
1.959
|
4.469
|
0.174
|
0.114
|
0.205
|
0.222
|
1.129
|
11.1
|
Including
|
over 3.0m
(132.0 –
135.0m)
|
9.01
|
4.18
|
0.021
|
1.965
|
4.063
|
0.404
|
0.316
|
0.533
|
0.594
|
0.913
|
10.65
|
The table below shows the rhodium, iridium, osmium and ruthenium
average concentrations of representative samples of massive
sulphide from three other holes completed in 2018 (EL-18-16,
EL-18-19 and EL-18-38).
Hole
#
|
MASU
interval
(from -
to)
|
Rh
(g/t)
|
Ir
(g/t)
|
Os
(g/t)
|
Ru
(g/t)
|
Zone
Intersected
|
EL-18-16
|
over 7.4m (135.9 –
143.3m)
|
0.419
|
0.363
|
0.545
|
0.783
|
Lower Discovery
Zone
|
including
|
over 1.5m (136.4 –
137.9m)
|
0.726
|
0.583
|
0.890
|
1.318
|
EL-18-19
|
over 5.74m (119.13 –
123.87m)
|
0.244
|
0.144
|
0.225
|
0.281
|
Lower Discovery
Zone
|
EL-18-38
|
over 0.95m (16.22 –
17.17m)
|
0.176
|
0.132
|
0.114
|
0.185
|
Crevasse
Zone
|
Dr. Lightfoot commented, "This is an interesting development
which speaks to the unusual geochemical signature of the E&L
sulphides and the strong enrichment in platinum group elements.
This strong enrichment in rhodium, iridium, osmium and ruthenium
reaches an apogee at the center of the massive sulphide zone. If
these metals can be recovered into a concentrate, they will
certainly add to the value of the massive sulphides."
Updated Drill Hole Maps
To view updated cross-section and plan view maps, please visit
the home page of the Garibaldi web site (GaribaldiResources.com)
where new maps will be posted in the projects section.
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 a
geoscientist and selected intervals were sampled. HQ and NQ 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, British
Columbia. 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.
Multiple certified ore assay laboratory standards and one blank
standard were used in the process. Samples were submitted to SGS
Canada Inc. in Vancouver, British
Columbia, an ISO 9001: 2008 certified lab, for base metal,
sulphur and precious metal analysis using Inductivity Coupled
Plasma (ICP), Fire Assay (FA) and Leco methods. Concentrations of
Rh, Ir, Os and Ru were determined by 30g charges by nickel sulphide
fire assay followed by decomposition of the matte button and
analysis by ICP-MS. Samples were prepared by crushing the entire
sample to 75% passing 2mm, 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
sodium 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 Jeremy Hanson, a
qualified person as defined by NI-43-101.
Qualified Person & Data Verification
Jeremy Hanson, P.Geo., VP
Exploration Canada for the Company, and a 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. Mr. Hanson has verified the data, including drilling,
sampling, test and recovery data, by supervising all of 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 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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SOURCE Garibaldi Resources Corp.