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News Releases

Garibaldi Expands Casper Quartz Gold Vein Over 120 Meters Selected Grab Sample With Visible Gold Returns 249 g/t

September 22, 2020

Vancouver, British Columbia, September 22, 2020 - Garibaldi Resources (TSXV: GGI) (the “Company” or “Garibaldi”) is pleased to report on developments including new assay results from the “Casper” high-grade gold quartz vein discovery 13 km north of the Company’s flagship E&L nickel-copper-cobalt massive sulphide project in NW British Columbia. In addition to E&L and Casper, Garibaldi owns a 100% interest in over 180 sq. kms of highly prospective mineral claims in the heart of the historic Eskay camp, one of the richest mineral districts in the Province.

Garibaldi’s Casper gold vein is a strategic low elevation target (420 meters) within a km of road access and hydroelectric power. It is located 15 km west from Garibaldi’s 1,500 hectare “Eskay North” gold prospect which borders the historic past producing Eskay Creek mine now being redeveloped.

Discovering a high-grade gold prospect proximal to the E&L project, is a tactical bonus allowing field crews to maintain productivity by accelerating surface exploration at Casper during weather delays on top of Nickel Mountain.

For a summary of results from earlier backpack drilling, initial channel samples and grab samples, see Feb.28, 2020 news release announcing the discovery. Exploration progress at the Casper gold quartz vein system in 2020 are as follows:

Highlights:

  • Field crews have collected 165 samples within 250 meters north of and 250 meters south of the NW-SE striking Casper vein with grades reaching as high as 249 g/t gold, 13 returned grades exceeding 10 g/t, and 23 samples with greater than 1 g/t gold (Table 1);
  • Mechanical trenching at the Casper gold quartz vein has further uncovered the high-grade vein over more than 120 meters, from the initial 43 meters of hand trenching exposing the discovery;
  • The quartz vein remains open with mineralized rock samples extending along trend for 330 meters within a 500 meter gold-in-soil and MMI geochemical anomaly;
  • Four new mineralized veins have been discovered this season most notably one 44 metres downslope from the main vein which like the Casper vein also contains visible gold and returned 76.9 g/t Au;
  • The quartz vein sulphides include chalcopyrite, galena, pyrrhotite, pyrite and arsenopyrite with native gold. This discovery occurs along the robust and under-explored McLymont Creek structural corridor;
  • Garibaldi has completed 86 unbiased channel samples spaced 1 meter apart throughout exposed sections of the Casper vein – assays pending. This latest round of channel sampling will aid in drill hole planning and additional trenching to be completed this year.

Jeremy Hanson, Garibaldi VP-Exploration, stated: “Even at this early stage, it’s remarkable to see such consistent elevated gold grades in a quartz vein extending more than 120 meters that remains open. The recent discovery of additional mineralized veins is extremely encouraging, especially with visible gold. Casper is certainly living up to the enthusiasm generated by its initial discovery”

The discovery of the high-grade Casper gold quartz vein close to our nearby base camp is already proving to be an advantage in deploying our field crews in the Eskay camp. Along with very promising results, this has contributed to accelerating the advancement of the Casper prospect to a planned drill stage sooner than expected.

2020 Casper Rock Grab Sample Highlights

Sample Easting Northing Au g/t Ag g/t Cu ppm Pb ppm Zn ppm
E00051571 397437 6284614 249.00 67 2854 5921 16
E00053949 397438 6284683 76.90 11 531 5 21
E00051576 397480 6284550 75.30 53 2786 6964 12
F00066204 397438 6284683 70.15 3 250 1 11
E00051572 397437 6284614 60.61 32 1600 2467 26
E00051577 397437 6284614 58.40 35 3832 4057 46
F00066207 397438 6284683 47.69 3 235 2 30
F00066206 397438 6284683 31.82 6 238 1 23
E00051593 397378 6284674 27.70 30 4667 1383 117
E00051579 397459 6284686 21.90 4 11 7 8
E00051581 397442 6284675 13.37 3 148 1 10
F00066072 397407 6284654 12.80 45 10624 2865 207
F00066209 397399 6284709 5.80 2 125 7 23
E00051582 397442 6284675 5.21 2 143 1 21
E00053945 397459 6284686 5.00 3 743 5 22
E00053939 397561 6284652 4.20 4 235 30 15
E00051580 397459 6284686 3.40 2 189 5 22
E00051934 397485 6284538 3.22 22 4688 15 182
F00069957 397345 6284663 2.60 9 4148 117 129
F00069956 397345 6284663 1.60 7 3782 26 100
E00053944 397459 6284686 1.50 1 76 5 18
E00053942 397340 6284767 1.20 1 12 4 36
E00051575 397432 6284601 1.09 14 2858 105 110

Grab samples are selected samples and are not necessarily representative of the mineralization hosted on the property.

Casper Map

See www.garibaldiresources.com for the latest Casper map displaying high grade gold samples, mineralized quartz veins and geochemical anomalies

Quality Assurance/Quality Control (QA/QC)

All field sample batches included 5% QA/QC samples consisting of certified blanks, standards and field duplicates. Multiple certified ore assay laboratory standards and one blank standard were used in the process. Samples for Casper were submitted to SGS Canada Inc. In Burnaby, British Columbia, an ISO 9001: 2008 certified lab, for base metal, sulphur and precious metal analysis using Inductivity Coupled Plasma (ICP), and Fire Assay (FA) 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 105 microns. Gold was analyzed using a 50-gram fire assay and ICP-AES, or metallic screen for coarse gold. Samples with coarse visible gold are subject to the nugget effect, may be difficult to reproduce or duplicate and may not be indicative of the overall mineralization of the vein. Samples with visible gold were analyzed using the Metallic Screen method where a minimum 500 gram sample is crushed and separated into two batches. A Minus batch with particles less than 106 microns, and a Plus batch with particles greater than 106 microns. Both batches of the sample are analyzed with a fire assay and finished with AAS, ICP-OES or gravimetric depending on grade. A final weighted average is calculated from the two portions.

The performance on the blind standards, blanks and duplicates achieved high levels of accuracy and reproducibility and has been verified by Jeremy Hanson, a qualified person as defined by NI-43-101.

All coordinates given in this document are in WGS 84 UTM Zone 9 North.

Qualified Person & Data Verification

Jeremy Hanson, P.Geo., VP Exploration Canada for the Company and a qualified person as defined by NI- 43-101, has supervised the preparation of and reviewed and approved of the disclosure of information in this news release. Mr. Hanson has verified the data, including drilling, sampling, test and recovery data, by supervising all of such procedures. There are no known factors that could materially affect the reliability of data collected and verified under his 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 British Columbia and Mexico.

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.


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