GARIBALDI FOLLOWS NEW HIGH-GRADE PATHWAYS BELOW LOWER
DISCOVERY ZONE AT NICKEL MOUNTAIN
Vancouver, British Columbia, November 4, 2019 - Garibaldi Resources (TSXV: GGI) (the “Company” or “Garibaldi”) is pleased to report that the latest assay results from Nickel Mountain continue to build on high-grade nickel sulphide mineralization near-surface in multiple zones while significant new potential is being identified at depth with EL-19-54’s confirmation of a mineralized chamber and the discovery of another mineralized chamber, both in addition to the main E&L chamber.
Crews have just completed drill hole EL-19-80, the 34th of this season, as they continue to expand the scale of Northwest British Columbia’s first nickel-copper-rich magmatic sulphide system in all directions. This update includes assays for 11 additional holes through EL-19-61, following previously reported EL-19-53, EL-19-48 and EL-19-47. Jeremy Hanson, Garibaldi VP-Exploration, stated: “Many more assays are yet to come. 2019 will unquestionably be our most productive and significant season yet at Nickel Mountain.”
• For the first time at Nickel Mountain, massive sulphide mineralization has been intersected below the Lower Discovery Zone (LDZ) in a second new chamber starting 202 meters downhole and 50 meters below and 40 meters north of the LDZ in drill hole EL-19-65 (see below, assays pending);
• Drill hole EL-19-54 cut four separate intervals of massive sulphide mineralization totaling 9.7 meters core length, at depths starting from 35 meters, 82 meters, 114 meters and 147 meters, including 4.9 meters grading 5.46% nickel and 3.21% copper. This important hole extended the Upper and Lower Discovery Zones westward and, significantly, intersected 51.2 meters of disseminated nickel sulphide mineralization in a chamber starting 290 meters downhole. In total, EL-19-54 cut 142 meters (core length) of mineralization in multiple intervals (84.4 meters above a combined 1% nickel-copper threshold) including 52.3 meters grading 0.65% nickel and 0.49% copper starting just 32.5 meters from surface;
• The two mineralized chambers greatly expand the potential scale of the E&L system at depth, providing a vector into potential new massive sulphide zones as these chambers exhibit sulphide textures similar to those previously seen only at shallower levels.
Dr. Peter Lightfoot, Technical Advisor to Garibaldi, commented, “One of the grand unifying features of magmatic sulphide deposits is their tendency to occur in differentiated intrusions with chaotic textures. The crystallization products of the magma in these chambers form pipe-like intrusions that provided the magma highways from the mantle to the surface. Examples from the central Asian nickel belt include Karatungk with structurally complex pathways, similar to those now being unraveled at E&L. Strategic deeper drilling at Nickel Mountain has successfully encountered important new intervals of mineralized gabbroic rocks with E&L-style mineralization.”