TSXV: GGI
OTC: GGIFF
Frankfurt: RQM
VANCOUVER, May 18, 2018 /PRNewswire/ - Garibaldi Resources (TSX.V: GGI) (the "Company" or "Garibaldi") is pleased to provide the following exploration update as additional crews fill an expanded 40-person camp near the Eskay Creek mine to launch the most extensive drill campaign in Company history at the nickel-copper-rich Nickel Mountain massive sulphide discovery.
Highlights:
- In support of drilling, which will commence in approximately 7 days, state-of-the-art geophysics utilizing HeliSam hybrid ground-air technology is now being carried out over a broad area in all directions surrounding the high-grade discovery zone;
- This cutting edge survey by Discovery Geophysics International (HeliSam) will provide valuable new information in real time for precise drill hole locations within the HC-1 conductor target area interpreted by renowned Sudbury geophysicist Alan King as drilling steps out initially to the south of EL-17-14 (see January 25, 2018 news release);
- Preliminary results from the VTEM survey completed during Q1 have extended the Nickel Mountain trend of conductors by 3.5 km to the northeast while also revealing multiple new gold-VMS target areas on the Palm Springs Property, part of Garibaldi's 200 sq. km Eskay Camp land package.
Steve Regoci, Garibaldi President and CEO, commented: "Given 'proof of concept' achieved with geophysics at Nickel Mountain last year, which gave us this game-changing high-grade nickel sulphide discovery in the Eskay Camp, we have 'doubled down' on the best technology to efficiently target potential new massive sulphide zones.
"Supported by a treasury currently at $26 million, the Garibaldi base camp plus our operations at the top of Nickel Mountain have been expanded and upgraded to allow for drilling well into the winter season," Regoci concluded.
Nickel Mountain Discovery Draws Industry Leading Geophysics
Industry leader Lamontagne Geophysics Ltd. is well known for its important contributions to new nickel sulphide discoveries in the Sudbury basin through its deep-borehole electromagnetic technology. At Nickel Mountain, Lamontagne will provide follow-up drill hole surveys for Garibaldi's 2018 drill program with its proprietary BHEM tools to complement the Discovery Geophysics International HeliSam survey now underway to detect additional conductive anomalies at Nickel Mountain.
Discovery owns the exclusive North American rights to HeliSam hybrid ground-air technology which is ideally suited to locate conductors potentially representing massive sulphides in rugged terrain such as the Eskay Camp. Discovery will deploy approximately 18 kilometers of heavy gauge, insulated copper wire configured in a number of ground loops for deep and rapid airborne exploration using a helicopter towed high sensitivity B-field receiver system.
It should be noted that geophysical targets are interpretations subject to limitations on data and modeling. While geophysics has been effective at Nickel Mountain, geophysical targets should only be viewed as guides to drilling and sampling.
Everett Makela, Garibaldi VP Exploration Canada, stated: "Nickel Mountain is all about the 'science of discovery'. Cutting edge technology and innovative new exploration concepts have helped reveal a unique 7-suite mineral system with top tier nickel grades in the heart of a producing gold camp. Our team is exceptionally upbeat and driven as we prepare to build out the Nickel Mountain discovery."
Eskay Camp Area Map
To view the location of the E&L Project, Garibaldi's other large landholdings in the Eskay Camp, and properties of all other companies in this prolific district, please visit GGI's web site or the following URL:
http://www.garibaldiresources.com/i/photos/king/GGI-Aug-25-Eskay-Camp-Area-Map.jpg
Qualified Person
Mr. Everett Makela, P.Geo., Director/VP Exploration Canada for the Company, and a qualified person as defined by NI-43-101, has reviewed and approved the technical disclosure 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 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.
SOURCE Garibaldi Resources Corp.
Share this article