Garibaldi Drilling Extends E&L Intrusion 650 Meters to the East, deep New Geophysical Drill Targets Detected

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VANCOUVER, BC, Sept. 11, 2020 /CNW/ – Garibaldi Resources Corp. (TSXV: GGI) (the “Company” or “Garibaldi”) is pleased to report on the latest drill results from the 2020 drill program  which have extended the strike length of the mineralized E&L system from 200 meters to over 650 meters to the east, where the intrusion remains open. The flagship E&L project, located on Nickel Mountain, is the Golden Triangle’s first magmatic nickel-copper-rich massive sulphide system in the heart of the prolific Eskay Camp in Northwest British Columbia.

Drilling along an extension of the trend of the E&L intrusion, which is now recognized to be a bladed-dyke, has identified mineralized mafic and ultramafic rocks carrying an E&L geochemical signal. The open system intrusion is open to the west and east. Diamond drilling continues to aggressively build out on the persistent widespread nickel-copper mineralization, which includes massive sulphides featuring top-tier nickel-copper grades in addition to palladium, platinum, cobalt, gold, silver and strategic PGE rare metals including rhodium.

EL-20-88, collared 350 meters east of pivotal hole EL-19-80 (identified as E&L gabbro) intersected 142.79 meters of mineralized taxitic gabbro and olivine pyroxenite along trend of the E&L system. This large step-out exhibited an E&L geochemical signature which expanded the strike length of the E&L gabbroic intrusion to over 650 meters within a 2km structural corridor that remains untested and open.

El-20-89 has produced the widest mineralized intercept so far from 71.34 meters to 223 meters returning nickel-copper mineralization over 151.6 meters grading 0.56% nickel and 0.61% copper. This intersect included 80.53 meters of 0.88% nickel and 0.85% copper, which expanded the NE massive sulphide zone 6 meters South, the LDZ 15 meters North and the Second Chamber 45 meters West. Semi-massive veins along the contact edge with sediments assayed 0.33m (100.54-100.87m) of 6.87% nickel and 1.69% copper, and 0.15m (147.48-147.63m) of 3.04% nickel and 1.62% copper.

Precision BHEM surveys completed on holes EL-19-80 and EL-20-88 detected several high priority conductors off-hole on both the north and south sides of the new extension of the E&L intrusion, along the trend of the mineralized gabbro system. Hole 80 had intersected E&L gabbro approximately 450 meters southeast of the main chamber, whereas hole 88 extended the plunge length of the E&L intrusion to over 650 meters depth which remains open.

Jeremy Hanson, Garibaldi VP-Exploration, stated “Holes EL-19-80 and EL-20-88 were instrumental to understanding the directional trend of the E&L system. 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. Both of these large step-out holes identified mineralized E&L type gabbro with elevated metal tenors. Bore-hole EM responses from both holes detected multiple off-hole conductors, providing a vector towards high priority drill targets.”

Importantly, mineralized orbicular-textured E&L type gabbro has recently been found at surface in float 950 meters west of the outcropping E&L gabbro at Nickel Mountain. Furthermore, melogabbroic intrusions have now been identified 1.3 km east of E&L. Increasingly, the exploration potential to discover new mineralized intrusions at E&L continues to grow both along strike and vertically with deeper drilling. Mineralized outcrop approximately 12 km northeast of Nickel Mountain have been recently discovered which returned 2.4% Ni and 3.2% Cu utilizing a portable XRF, assays are pending.

Hazelton sedimentary rocks; massive sulphides are developed along the flanks of the intrusion in the sedimentary rocks.

Peter Lightfoot, Garibaldi Technical Advisor, commented: “A number of global magmatic sulphide ore deposits are associated with dykes or pipe-like intrusions controlled by structures. These dykes were originally open system magma conduits, termed chonoliths, with narrow dyke-like blades flanking the pipe-like intrusion.  The pipe is often the nexus of heavier mineralization.

The recognition of this morphology at E&L thanks to detailed drilling and structural studies in 2019 provided the basis for drilling to follow the steeply plunging mineralized open system conduit towards the east. Renewed prospecting along strike also provided new evidence of mineralized taxitic olivine gabbro at surface. The discovery of mineralized orbicular gabbro and olivine pyroxenite in hole EL-19-80 to the east, and finding mineralized taxitic-textured olivine gabbro and orbicular-textured surface float samples west of E&L provides important new evidence that the scale of the mineral system may extend considerably along strike beneath the overlying talus fields and vertically towards the base of Nickel Mountain.”

Hole (#)	Zone	Easting*	Northing*	Elevation (MASL)	Azimuth	Dip	Length (m)
EL-20-89	Western chamber extension	396238	6271503	1859	259	-65	386
EL-20-88	Deep chamber	396673	6271391	1791	256	-64	612
EL-20-87	Exploratory	396239	6271505	1858	297	-74	235
EL-20-86	Exploratory	396241	6271502	1859	177	-68.5	193
EL-20-85	Exploratory	396241	6271502	1859	159	-67	190