Garibaldi Intercepts Multiple Gold Bearing Veins & Silicified Units at Newly Discovered Casper Hydrothermal System - 12.02.21 - News

VANCOUVER, BC, Feb. 12, 2021

VANCOUVER, BC, Feb. 12, 2021 /PRNewswire/ - Garibaldi Resources (TSXV: GGI) (the "Company" or "Garibaldi") is pleased to announce assay results from four shallow diamond drill holes totaling 639.5m, the first ever testing the new Casper Quartz Gold Vein System. The Casper discovery is located 12 km northwest of the Company's flagship E&L nickel-copper-cobalt massive sulphide project at Nickel Mountain, and 14 km west of Garibaldi's premier Eskay North gold prospect, bordering the historic Eskay Creek mine, now being redeveloped.

Garibaldi's Eskay claim group totals over180 sq. kms of highly prospective mineral claims centered in the heart of the mineral rich Eskay Camp in northwest British Columbia. The target rich claim group is surrounded by several precious and base metal discoveries at various stages of exploration by neighboring Companies. Garibaldi's strategically important land package is favorably located along the deep seated Eskay Rift, a highly prospective mineralized structure hosting multiple deposits.

The E&L nickel-copper-cobalt project and the Casper high grade Quartz Gold vein discoveries are the first targets to emerge from the abundant mineral occurrences and outcrops sampled within the Company's vast Eskay claim group. Casper is a grassroots discovery with no previous Minfile records. The Casper veins are at low elevation (430 meters) with road and power access less than 1 kilometer away. Highlights of the 2020 exploration season at Casper, including the first ever diamond drill holes testing the high-grade quartz veins are as follows:

2020 Casper Highlights:

Drilling confirmed at least three discrete mineralized quartz veins, two which contain visible gold along with a mineralized silicified volcanic unit also containing visible gold. Many additional vein splays and quartz veinlets are present in the core, all four holes intercepted gold mineralization.
The Casper vein returned 9.1 g/t gold over 0.72m (CAS-20-03: 23.42-24.14m), a second vein with visible gold returned 8.2 grams gold over 0.56m (CAS-20-02: 72.94-73.5m). The 4-meter-thick mineralized silicified unit with visible gold, returned 8.89 g/t gold (CAS-20-01: 124-125m).
Drilling followed up on 2020 sampling and trenching program results, successfully confirming the presence of mineralization below surface with, multiple veins and targets remaining to be drill tested. The Casper hydrothermal system remains open with rock samples exceeding 1.0 g/t gold extending along trend for 330 meters within a 500-meter wide gold-in-soil anomaly.
Previously, 18 of 21 shallow (< 2.0m depth) backpack drill holes from the Casper vein returned significant gold mineralization, with 10 holes returning at least one 0.60m interval grading between 12.6 g/t Au and 64.6 g/t Au (see news dated Feb. 28, 2020).
Multiple grab samples with visible gold taken from a trench on the east side of the main Casper vein returned 249.0, 92.3, 75.3 and 58.4 g/t gold. (See news dated Sept. 22, 2020)
A Channel sampling program collected a total of 94 in-situ quartz vein samples cut every meter along the trenched NW-SE striking Casper vein. A total of 61 Channel sample assays returned gold grades ranging from 0.676 g/t gold up to 93.29 g/t gold (see news dated Sept. 29, 2020)
A distinct high resistivity zone lies 100 meters south of the vein system and may represent a broad area of prospective silicification and veining. The presence of multiple mineralized quartz veins, mineralized silicified volcanics in core, mineralized rhyolitic surface samples, and high grade in-situ vein samples indicate the potential for a significant broad scale hydrothermal gold system.

Drill Hole Table – CAS-20-01 to CAS-20-04

Hole (#)

ARIVA.DE Börsen-Geflüster

Kurse

Garibaldi Resources

0,09 $

0,00%

Interval Width (from – to)

Au (g/t)

Ag (g/t)

CAS-20-01

over 2 m (15 – 17 m)

0.4

0.52

and

over 2 m (19 – 21 m)

2.4

0.42

and

over 1 m (31 – 32 m)

1.02

4.16

and

over 1.66 m (93.34 – 95 m)

0.89

0.79

and

over 3.3 m (123.25 – 126.55 m)

3.01

1.10

incl

over 1 m (124 – 125 m)

8.89

2.85

CAS-20-02

over 3.5 m (35.15 – 38.65 m)

0.35

0.85

and

over 1.91 m (71.59 – 73.5 m)

2.74

0.41

and

over 0.56 m (72.94 – 73.5 m)

8.24

1.24

and

over 11.05 m (124.14 – 135.19 m)

0.32

0.79

CAS-20-03

over 2.58 m (23.42 – 26 m)

5.49

0.78

or

over 3.58 m (23.42 – 27 m)

4.05

0.6

Incl.

over 0.72m (23.42 – 24.14m)

9.10

0.83

and

over 4 m (31 – 35 m)

0.26

0.48

CAS-20-04

over 1.05 m (44.64 – 45.69 m)

0.59

57.7

and

over 1.07 m (68.93 – 70 m)

1.97

3.56

and

over 0.94 m (101.06 – 102 m)

2.47

0.79

and

over 1 m (110 – 111 m)

0.59

1.2

Drill Hole Coordinates Table – Holes CAS-20-01 to CAS-20-04

Hole (#)

Easting*

Northing*

Elevation
(MASL)

Azimuth

Dip

Length (m)

CAS-20-01

397381

6284651

429

66

-45

148.5

CAS-20-02

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