Garibaldi Resources (TSXV: GGI) this morning released its latest drill results from its 2020 exploration program at its flagship E&L Nickel Mountain project within BC’s Golden Triangle. Highlights from the latest assays include 151.66 metres of 0.56% nickel and 0.61% copper.
The drill program managed to extend the known strike length of mineralization on the property from 200 metres to that of 650 metres, a significant increase for the project. The current intrusion remains open at the E&L project to the west and east, while drilling continues on site. Further, the intrusion is within a 2 kilometre long structural corridor that remains untested.
The mineralized extension is said to have the shape of a structurally modified bladed dyke, with the flanking contacts said to be associated with contact and footwall type massive sulphide mineralization. The company has stated that the exploration potential for new intrusions to be discovered “continues to grow both along strike and vertically with deeper drilling.”
The assay table provided by the company for the latest drill results was incomplete. While identified as being for holes EL-20-85 to EL-20-89, it appears that the chart only contains EL-20-88 and EL-20-89. However, hole 85 is said to have 34.5 metres of 0.13% nickel and 0.01% copper, beginning at a depth of 130 metres, while hole 86 hit 20 meters of 0.13% nickel and 0.05% copper at 135 metres of depth. Intercepts for hole 87 and are said to be even less significant.
| Hole (#) | Interval Width (from – to) | Ni (%) | Cu (%) | Co (%) | Pt (g/t) | Pd (g/t) | Au (g/t) | Ag (g/t) |
| EL-20-89 | over 151.66 m (71.34 – 223 m) | 0.56 | 0.61 | 0.018 | 0.253 | 0.497 | 0.256 | 2.78 |
| *including | over 80.53 m (71.34 – 151.87 m) | 0.88 | 0.85 | 0.026 | 0.286 | 0.523 | 0.300 | 3.80 |
| *including | over 34.26 m (71.34 – 105.6 m) | 1.15 | 1.15 | 0.035 | 0.333 | 0.522 | 0.407 | 5.65 |
| **including | over 1.16 m (84.8 – 85.96 m) | 4.55 | 2.27 | 0.184 | 0.231 | 0.388 | 0.289 | 7.61 |
| *including | over 24.85 m (123.07– 147.92 m) | 1.20 | 1.08 | 0.031 | 0.446 | 0.896 | 0.388 | 3.83 |
| *including | over 21.75 m (180.75 – 202.5 m) | 0.49 | 0.94 | 0.016 | 0.657 | 1.328 | 0.636 | 4.11 |
| EL-20-88 | over 142.79 m (436.25 – 579.04 m) | 0.15 | 0.12 | 0.013 | 0.017 | 0.032 | 0.011 | 1.01 |
| and | over 53.42 m (481.58 – 535 m) | 0.24 | 0.22 | 0.020 | 0.028 | 0.051 | 0.019 | 1.39 |
“The drill results and BHEM data confirm that E&L is far more extensive at depth than indicated by shallow drilling and surface outcrop. Garibaldi has now identified E&L mineralized gabbro for over 650 meters of strike length and to 578 meters at depth, less than one-third of the way down-slope to the base of Nickel Mountain.”
Jeremy Hanson, Garibaldi VP-Exploration
Garibaldi Resources last traded at $0,64 on the TSX Venture.
Information for this briefing was found via Sedar and Garibaldi Resources Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
