|Northwestern British Columbia: Eskay Camp
Palm Springs Property - PSP
Much of Palm Springs features receding glaciers, exposing previously hidden favorable volcano-sedimentary stratigraphy similar to that of Eskay Creek. Historic surface sampling by Noranda over limited parts of Palm Springs returned high-grade gold and copper values and revealed unique Eskay Creek-type pathfinder minerals in trenches.
Since first acquiring Palm Springs in 2016, Garibaldi has fulfilled all of the option terms and now owns 100% of the property. The optionor has retained a net smelter return royalty (NSR) of 2% which may be reduced to 1% by Garibaldi at any time for a cash payment of $1,000,000.
Garibaldi’s work at Palm Springs has focused mostly on the Casper showing, approximately 12 km north of the E&L deposit near the new AltaGas road, where the target – currently being advanced - is high-grade gold.
Nearly 20 sq. km of the Palm Springs package (“Eskay North”) is contiguous to the past producing Eskay Creek mine, one of the world’s richest ore discoveries.