VANCOUVER, June 13, 2019
VANCOUVER, June 13, 2019 /PRNewswire/ - Garibaldi Resources (TSXV: GGI) (the "Company" or "Garibaldi") is pleased to announce that its 2019 drill program has commenced at its flagship E&L nickel-copper-rich massive sulphide discovery at Nickel Mountain in the heart of Northwest B.C.'s Eskay Camp.
- Garibaldi's fully-funded 2019 drill program will focus on building out the five currently known mineralized zones at the E&L deposit (Lower Discovery, Upper Discovery, Northeast, Central and Northwest) outlined through 46 drill holes during 2017 and 2018. The E&L system is wide open for expansion to the east, the west, the south, the north and at depth;
- Garibaldi expects to significantly increase daily drilling meterage and dramatically reduce costs per meter drilled utilizing state-of-the-art new drill rigs which require less water and fuel than comparable drills;
- Assay protocols have been reviewed, changes have been implemented, and the Company expects that turnaround times will be greatly improved;
- Detailed analysis of oriented drill core, geology and key geochemical correlations at the E&L deposit are providing valuable new insights with regard to structural controls on mineralization and drill targeting;
- Lamontagne Geophysics Ltd. is continuing with borehole electromagnetic (BHEM) geophysical surveys which have proven to be a remarkably effective tool in detecting conductive areas hosting massive sulphides;
- Garibaldi has received a Notice of Work approval from the B.C. Ministry of Mines to expand the number of drill pad locations at the Company's Eskay Camp claim group, including Nickel Mountain, to 107.
Nickel Mountain Welcomes New Drill Rigs
Garibaldi is utilizing one of the most advanced heli-portable surface drill rigs, a DrillCo MDS 1950 with drilling performed by ITL Diamond Drilling Ltd. The DrillCo MDS 1950 operates with 160 horsepower at the head and can reach depths of 2,000+ meters (NQ). While providing more power than comparable conventional drills, it also consumes an estimated 25-30% less fuel. The drills are mounted on a hydraulic powered rotating turn table allowing for rapid azimuth and dip change, eliminating costly helicopter support to realign drill rigs when targeting off hole anomalies. The drills also feature data logging capabilities, providing drilling metrics on a per shift basis.
Steve Regoci, President and CEO, commented: "This is shaping up to be an extraordinary summer of activity in the Eskay Camp. Garibaldi looks forward to leading the charge with new discoveries at the E&L and along the Nickel Mountain trend where the Gabbroic Complex is now known to extend for at least 12 km."
Mr. Jeremy Hanson, P.Geo., VP Exploration Canada for the Company, and a Qualified Person as defined by NI-43-101, has reviewed and approved the technical information in this news release.
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.
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.
SOURCE Garibaldi Resources Corp.