VANCOUVER, June 8, 2018 /CNW/ - Garibaldi Resources (TSX.V: GGI) (the "Company" or "Garibaldi") is pleased to report that after months of preparations, a major 2018 drill program at Nickel Mountain in the Eskay Camp has commenced with two drill rigs this morning as the Company follows up on last fall's nickel-copper-rich massive sulphide discovery east of the historic E&L deposit.
The first stage of 2018 diamond drilling will simultaneously further define the Discovery zone and systematically step out from EL-17-14, testing for nickel-copper-rich magmatic sulphide mineralization to the south where promising conductive targets have been defined by geophysical surveys. EL-17-14 intersected 16.75 meters of massive sulphides (approximate true width) grading 8.3% nickel and 4.3% copper, along with cobalt, platinum, palladium, gold and silver values, within a broader 40.4-meter mineralized zone (see December 8, 2017 news release).
Steve Regoci, Garibaldi President and CEO, commented: "The entire Garibaldi technical team of geologists and geophysicists are excited to build on this unique Eskay Camp discovery. Months of analyzing geophysical and other data has bolstered their understanding of the Nickel Mountain Intrusive Complex and has shaped an aggressive 2018 program that will test the scale of a massive sulphide discovery that's open in all directions. In addition, there's an 8-km-long trend of high-quality conductors to the northeast that we're very eager to follow up on this year.
"With a treasury of approximately $25 million, Garibaldi has sufficient resources to carry out an ambitious 2018 drill program which is supported by cutting edge geophysical surveys including BHEM (borehole electro-magnetics) which was a highly successful tool for us in 2017," Regoci concluded.
Eskay Camp Area Map
To view the location of the E&L Project, Garibaldi's other large landholdings in the Eskay Camp, and properties of all other companies in this prolific district, please visit GGI's web site or the following URL:
Mr. Everett Makela, P.Geo., Director/VP Exploration Canada for the Company, and a qualified person as defined by NI-43-101, has reviewed and approved the technical disclosure 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.
GARIBALDI RESOURCES CORP.
Per: "Steve Regoci"
Steve Regoci, President & CEO
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.
For further information: GARIBALDI RESOURCES CORP., 1150 - 409 Granville Street Vancouver, BC V6C 1T2, Telephone: (604) 488-8851 Website: GaribaldiResources.com