Garibaldi drills 8.3% nickel and 4.2% copper over 16.75 meters at Nickel Mountain

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VANCOUVER, Dec. 8, 2017 /CNW/ - Garibaldi Resources (TSX.V: GGI) (the "Company" or "Garibaldi") is pleased to announce that assays for Discovery Hole 14 at Nickel Mountain near Eskay Creek have returned a 40.4-meter mineralized zone featuring a massive sulphide intersection with rich grades of nickel and copper over 16.75 meters.

Highlights:

• Discovery Hole 14 (EL-17-14), collared 200 meters east of the historic E&L deposit ("Discovery Zone") and drilled toward the west-southwest, has cut 8.3% nickel and 4.2% copper over 16.75 meters within a broader 40.4-meter section grading 3.9% nickel and 2.3% copper from 100.4 to 140.8 meters (approximate true width);
• The 16.75-meter massive sulphide intercept also included 6.4 g/t combined platinum-palladium, 0.19% cobalt, 1.1 g/t gold and 11.1 g/t silver;
• Drill data to date indicates a sequence of widening intercepts and increasing grades toward the Discovery Zone to the east which remains open for expansion in all directions including at depth.

Massive sulphide mineralization in EL-17-14 has a characteristic Nickel Mountain "leopard print texture" featuring loop-textured chalcopyrite and pentlandite surrounding 1 to 10 cm diameter variably elongated crystals of pyrrhotite.

Dr. Peter Lightfoot, one of the world's top nickel sulphide experts and a technical advisor to Garibaldi, commented: "In the context of Sudbury contact type mineralization, there are very few zones within the mined or historic deposits that approach the values encountered in the massive sulphides of EL-17-14. Based on those comparisons and others, data for EL-17-14 point to a discovery of outstanding quality with a very pure style of sulphide mineralization that has optimal process technology characteristics."

Table 1: Discovery Hole 14 composite grade intervals

*Combined 1% nickel-copper is a minimum threshold for comparative analysis of composites
**Note: denotes interval of massive sulfides (75-100%); intervals are approximate true widths

Table 2: Discovery Hole 14 co-ordinates

*UTM Zone 9N WGS 1984

Other highlights:

• The massive sulphide interval in EL-17-14 belongs to a different massive sulphide lens relative to the massive sulphide interval from hole EL-17-04, also in the Discovery Zone east of the historic E&L deposit;
• The fact that three massive sulphide lenses have now been encountered at the E&L underscores the superior mineral potential of the intrusion due in part to a "magma highway" that has efficiently supported the transfer of repeated pulses of magma from the mantle to the crust;
• The massive sulphide zones have not been delimited in any way. Additional maps beyond Garibaldi's current 2D schematic map will be released in the near future.

Steve Regoci, Garibaldi President and CEO, stated: "We eagerly anticipate providing additional Nickel Mountain updates in the near future including drill results from holes 10 through 13 while interpretation of extensive geophysical data also continues. 

"The excitement level of our exploration team of geologists and geophysicists is understandable with these results.  Our group of renowned nickel industry specialists have high expectations of adding a new chapter to the illustrious exploration history of the Eskay Camp," Regoci concluded. 

Garibaldi Investor Event

Garibaldi will be holding an event for interested investors Thursday, December 14, beginning at 1:30 pm at a downtown Vancouver establishment.  Investors interested in attending must reserve as soon as possible by contacting MarketSmart Communications at (604) 261-4466. 

Garibaldi Chosen For Roundup Core Shack

Garibaldi is pleased to announce that the Company has been chosen to participate in the "Core Shack" at the AME Mineral Exploration Roundup 2018.  Members of the GGI nickel team will be at booth number 825 January 22-23 to speak with investors and present drill core samples from the Nickel Mountain discovery.

Garibaldi AGM

Garibaldi's annual AGM will take place Wednesday, December 13, beginning at 11:00 am at Suite 451-409 Granville St., Vancouver, B.C. 

Updated Drill Hole Map

To view an updated schematic cross-section map, please visit the home page of the Garibaldi web site (GaribaldiResources.com) where the new map will be posted this morning.

Quality Assurance/Quality Control (QA/QC)

Garibaldi Resources has applied a rigorous quality assurance/quality control program at the E&L Nickel Mountain Project using best industry practice. All core was logged by a professional geoscientist and selected intervals were sampled. NQ2 drill core was sawn in half and each sample half was placed in a marked sample bag with a corresponding sample tag then sealed. The remaining half core is retained in core boxes that are stored at a secure facility in Smithers, British Columbia. Chain of custody of samples was recorded and maintained for all samples from the drill to the laboratory.

All diamond drilling sample batches included 5% QA/QC samples consisting of certified blanks, standards and field duplicates. Two certified ore assay laboratory standards and one blank standard were used in the process and were supplied by CDN Resource Laboratories Ltd., an independent laboratory located in Langley, British Columbia. Samples were submitted to SGS Canada Inc. in Vancouver, British Columbia, an ISO 9001: 2008 certified lab, for base metal, sulphur and precious metal analysis using Inductivity Coupled Plasma (ICP), Fire Assay (FA) and Leco methods.

Samples were prepared by crushing the entire sample to 75% passing 2mm, riffle splitting 250g and pulverizing the split to better than 85% passing 75 microns. Gold, platinum and palladium were analyzed using a 30 gram fire assay and ICP-AES. Total sulfur and total carbon were analyzed using a Leco method. Nickel, copper, cobalt, silver and base metals were analyzed by sodium peroxide fusion and ICP-MS.

The performance on the blind standards, blanks and duplicates achieved high levels of accuracy and reproducibility and has been verified by Everett Makela, a Qualified Person as defined by NI-43-101.

Qualified Person & Data Verification

Mr. Everett F. Makela, P.Geo., Director/VP Exploration Canada for the Company, and a Qualified Person as defined by NI-43-101, has supervised the preparation of, reviewed and approved of, the disclosure of information in this news release. Mr. Makela has verified the data, including drilling, sampling, test and recovery data by supervising all such procedures on site. There are no known factors that could materially affect the reliability of data collected and verified under his onsite supervision. No quality assurance/quality control issues have been identified to date.

About Garibaldi

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.