Vancouver, British Columbia, November 29, 2017 - As a result of a review by the British Columbia Securities Commission, Garibaldi Resources (TSX.V: GGI) (the “Company” or “Garibaldi”) is issuing the following news release to clarify the disclosure in its news release of November 20, 2017.
In Garibaldi’s November 20, 2017, news release, the Company provided accurate assay results for the first four holes of the E&L Nickel Mountain drill program and information pertaining to a 16.7-meter nickel-copper-rich massive sulphide intercept (closely approximately true width) east of the historic E&L deposit in a new discovery zone unique to the Eskay Camp.
A map showing cross sections for those holes has already been posted to the home page of the Garibaldi web site (http://www.garibaldiresources.com/site/assets/files/3677/ggi-drill-map-nov-27-2017.jpg). Below are tables for drill hole coordinates as well as significant intervals that were reported November 20.
Garibaldi eagerly anticipates providing another update on the E&L Nickel Mountain program within the next several days.
Table 1: Drill hole co-ordinates for holes 1 to 4 and 14 (as per Nov. 20 NR)
|Hole||Zone||Easting*||Northing*||Elevation (mASL)||Azimuth||Dip||Length (m)|
*UTM Zone 9N WGS 1984
Table 2: Composite grade intervals of Ni+Cu >1% - holes 1 to 4 (as per Nov. 20 NR)
|Hole #||Interval width (from - to)||Ni %||Cu %||Co
|Pt (g/t)||Pd (g/t)||Au (g/t)||Ag (g/t)||*Ni+Cu (%)|
|EL-17-01||over 60.5m (51.0 - 111.5m)||0.54||0.53||0.016||0.217||0.343||0.201||2.6||1.07|
|Including||over 1.0m (102.0 - 103.0m)||1.37||2.13||0.033||1.048||1.345||1.087||9.6||3.50|
|EL-17-01||over 5.23m (118 - 123.23m)||0.51||0.63||0.016||0.274||0.515||0.277||4.0||1.14|
|EL-17-01||over 9.68m (129 - 138.68m)||0.72||0.62||0.022||0.188||0.290||0.142||3.2||1.34|
|EL-17-01||over 4.5m (279.5 - 284.0m)||0.29||0.80||0.012||0.603||1.261||0.602||6.3||1.10|
|EL-17-02||over 7.5m (117.0 - 124.5m)||0.57||0.52||0.019||0.158||0.282||0.100||3.4||1.08|
|EL-17-02||over 6.0m (136.5 - 142.5m)||0.37||0.74||0.014||0.483||0.602||0.470||4.6||1.12|
|EL-17-02||over 3.0m (150.0 - 153.0m)||0.54||0.56||0.023||0.240||0.750||0.251||2.5||1.10|
|EL-17-02||over 24.0m (171.0 - 195.0m)||0.56||0.65||0.020||0.282||0.597||0.264||3.3||1.21|
|Including||over 4.5m (175.5 - 180.0m)||0.97||1.19||0.030||0.643||1.020||0.639||6.7||2.16|
|EL-17-03||over 39.0m (42.0 - 81.0m)||0.91||0.74||0.028||0.266||0.437||0.224||3.2||1.65|
|Including||over 13.5m (49.5 - 63.0m)||1.05||1.00||0.027||0.492||0.836||0.383||4.7||2.06|
|And||over 3.0m (70.5 - 73.5m)||1.00||1.09||0.031||0.190||0.281||0.250||5.5||2.09|
|**And||over 1.5m (79.1 - 80.6m)||5.72||2.12||0.205||0.470||0.696||0.209||4.4||7.84|
|EL-17-04||over 48.2m (108.4 - 156.6m)||1.09||0.69||0.032||0.231||0.379||0.162||3.1||1.78|
|Including||over 4.8m (150.3 - 155.1m)||7.17||3.40||0.195||0.785||0.824||0.400||10.0||10.57|
|EL-17-04||over 12.0m (189.0 - 201.0m)||1.08||0.68||0.034||0.260||0.487||0.183||3.5||1.75|
|**Including||over 0.3m (195.7 - 196.0m)||3.75||1.24||0.100||0.920||1.550||0.563||4.7||4.99|
|**And||over 0.4m (197.1 - 197.5m)||5.88||1.70||0.160||0.770||1.100||0.249||5.4||7.58|
* combined 1% nickel-copper is a minimum threshold for comparative analysis of composites.
** denotes interval of massive sulphides (75-100%).
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 of 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.
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.