TSX.V: GGI
OTC: GGIFF
Frankfurt: RQM
VANCOUVER, Sept. 27, 2019 /CNW/ - Garibaldi Resources (TSXV:
GGI) (the "Company" or "Garibaldi") is pleased to provide the
following operational and corporate update as it continues to build
out Northwest B.C.'s first magmatic nickel-copper-rich massive
sulphide system.
Highlights:
- Ahead of the next set of assay results, due shortly, another
drill rig has been added at Nickel Mountain where three ITL Diamond
Drilling Ltd. rigs are now in full operation. A first-ever drilling
platform has been constructed on the E&L glacier to allow for
even more effective targeting, from a new geometry, of existing and
potential new zones;
- A total of $2,247,000 has been
received by the Company this week through the exercise of
$1.05 warrants. All warrants below
$4.50 have now been exercised, adding
a total of $5,598,000 to the
Company's treasury in 2019;
- Garibaldi is also making application to the TSX Venture for an
extension of the $4.50 warrants, set
to expire October 20, 2019 (2,539,683
warrants) and October 31, 2019
(634,920 warrants), for one additional year.
Steve Regoci, President and CEO,
commented, "Our crews have become much more proficient in every
aspect of exploration since the initial E&L discovery. The
impressive performance of the new rigs and recent results convinced
us to mobilize a third rig and push the limits for extending this
season's program."
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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content:http://www.prnewswire.com/news-releases/garibaldi-expands-drilling-adds-another-2-25-million-from-warrant-exercise-300927008.html
SOURCE Garibaldi Resources Corp.