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Garibaldi Channel Sample from Casper Assays 93.29 g/t Gold, Casper Trench Returns 5.69 g/t Gold Over 52 Meters

Garibaldi Channel Sample from Casper Assays 93.29 g/t Gold, Casper Trench Returns 5.69 g/t Gold Over 52 Meters


TSXV: GGI
OTC: GGIFF
Frankfurt: RQM

VANCOUVER, BC, Sept. 29, 2020 /PRNewswire/ - Garibaldi Resources (TSXV: GGI) (the "Company" or "Garibaldi") is pleased to announce new assay results from channel sampling at the "Casper" high-grade gold quartz vein discovery. Casper is located 13 km north of the Company's flagship E&L nickel-copper-cobalt massive sulphide project in Northwest British Columbia.

Garibaldi owns a 100% interest in over 180 sq. kms of highly prospective mineral claims in the heart of the historic Eskay camp. The claim group has excellent infrastructure, with nearby road access and power, the Company's geological team can explore multiple targets from one base camp location.

The discovery of a low elevation (430 meters) high-grade gold prospect nearby to the E&L project, has contributed to the accelerated surface exploration and rapid advancement of the expanding Casper gold vein system to drill readiness. Garibaldi crews have completed a rock saw channel sampling program over exposed sections of the 130 meters now uncovered by mechanized trenching over the main Casper gold quartz vein, the highlights of which are as follows:

Highlights:    

  • The Casper project geological team completed an unbiased channel sampling program collecting a total of 94 in-situ quartz vein samples cut every meter along the trenched vein exposed which remains open along its NW-SE strike;
  • A total of 61 Channel sample assays returned gold grades ranging from 0.676 g/t gold up to 93.29 g/t gold from a Channel sample that contained visible gold;
  • The Casper quartz vein system remains open with mineralized rock samples extending along trend for 330 meters. Recent infill soil samples returned up to 500 ppb gold 140m along trend northwest of the northernmost channel;
  • Sulphide mineralization in the Casper quartz vein system include chalcopyrite, galena, pyrrhotite, pyrite and arsenopyrite with native gold. In addition to four new mineralized veins discovered in 2020, a significant IP resistivity low occurring 100 meters south of the main Casper vein is now under investigation;
  • The discovery of the Casper gold quartz gold vein system is along the robust and under-explored mineralized McLymont Creek structural corridor, west of the Eskay rift. Volcanic and sedimentary rock units outcropping along faults near geochemical and geophysical anomalies are being sampled and mapped.
  • Garibaldi is also making application to the TSX Venture for an extension of the $4.50 warrants, set to expire October 19, 2020 (2,539,683 warrants) and October 26, 2020 (634,920 warrants) for two additional years.

Jeremy Hanson, Garibaldi VP-Exploration, stated:

These Casper vein channel sample assays provide very positive results, proving there are significant sections of continuous gold mineralization. The discovery of new mineralized veins within the 2 square km target area, additional trenching and ground truthing new gold-in soil anomalies, is turning this into a very exciting prospect.
The expanding Casper vein system may represent the surface expression of a much larger system at depth. The number of mineralized veins, found 50 to 100 meters from the main vein, the geophysical anomalies identified and a volcanic unit found outcropping 300 meters east containing up to 4.2 g/t gold are especially encouraging. We're looking forward to extending the gold mineralization beyond the most eastern 249 g/t grab sample and testing the vein system with a drill this fall.

2020 Casper Channel Sample Composites

Channel Sample

From (m)

To (m)

Length (m)

Au (g/t)

Casper_1

0.0

78.0

78.0

4.06

including

18.0

70.0

52.0

5.69

including

26.0

49.0

23.0

8.71

including

3.0

11.0

8.0

1.90

Casper_3

0.0

6.0

6.0

12.48

Composites were calculated using individual lengths of the channel samples for weighted averages. See QAQC

Casper Channel Sample Highlights

Sample

Easting

Northing

Elevation

Length
(cm)

Au
g/t

Ag
g/t

Cu
ppm

Pb
ppm

Zn
ppm

F00069780

397440.1

6284611.0

424.9

40

93.29

49

2966

2250

23

F00069750

397380.8

6284670.2

417.8

20

39.52

18

755

3571

39

F00069739

397388.6

6284662.8

420.7

104

31.15

46

634

22286

43

F00069742

397386.5

6284665.0

419.5

75

30.40

9

235

291

41

F00069731

397394.9

6284658.1

421.0

75

24.60

41

5417

2697

204

F00069779

397439.2

6284611.5

425.0

64

21.60

3

1517

139

45

F00069735

397392.0

6284660.8

420.9

95

21.40

41

1114

7944

61

F00069730

397395.7

6284657.4

421.1

95

17.80

40

3447

6943

104

25776

397400.9

6284653.0

421.4

38

17.15

64

7410

15100

181

F00069703

397405.5

6284647.7

422.0

84

16.70

30

2919

3949

106

F00069717

397415.0

6284638.5

423.0

70

16.60

23

2372

7307

137

F00069777

397437.6

6284612.6

425.4

42

16.50

5

1062

8

103

F00069736

397391.2

6284661.3

420.8

96

16.20

14

1848

2332

50

F00069775

397435.8

6284613.1

425.9

73

15.50

3

1003

151

67

F00069744

397385.0

6284666.2

419.2

55

13.90

25

1287

6280

41

F00069711

397411.7

6284643.1

421.9

85

13.80

27

6824

1385

278

F00069743

397385.8

6284665.4

419.3

55

13.50

22

3487

4894

86

F00069738

397389.6

6284662.6

420.7

63

12.14

33

960

22040

72

F00069751

397380.1

6284670.8

417.6

55

10.20

12

555

4644

49

F00069776

397436.7

6284612.7

425.7

52

10.10

1

905

7

94

25776

397398.7

6284654.9

421.2

38

9.66

57

3110

4340

109

F00069763

397371.2

6284678.1

414.7

35

9.44

4

75

33

52

25776

397400.1

6284653.4

421.5

38

8.14

41

4660

6770

66

F00069733

397393.5

6284659.5

420.9

65

8.00

149

808

2239

58

F00069709

397410.2

6284644.4

421.6

65

7.80

15

2128

1483

113

F00069712

397412.5

6284642.4

421.7

80

7.80

39

4435

6924

167

F00069707

397408.7

6284645.6

421.8

69

7.40

12

686

2679

145

F00069734

397392.7

6284660.2

421.0

136

7.00

24

656

1038

40

F00069752

397379.3

6284671.4

417.3

65

6.24

2

104

236

24

F00069732

397394.1

6284658.8

421.0

91

6.10

17

2391

2503

97

F00069781

397369.7

6284679.3

414.7

44

5.60

6

576

304

46

25776

397399.3

6284654.1

421.1

38

5.19

37

5550

10700

203

25776

397401.4

6284651.9

421.6

38

5.15

13

2800

1180

126

F00069761

397372.6

6284676.9

415.5

53

4.50

1

89

47

46

F00069729

397396.2

6284656.9

421.2

68

4.20

12

2370

1775

77

F00069762

397371.9

6284677.4

414.9

51

3.91

2

51

26

62

F00069764

397370.5

6284678.7

414.8

66

3.90

1

24

1

2.5

F00069728

397397.2

6284656.1

421.2

88

3.70

11

323

1880

65

F00069705

397407.0

6284646.6

421.6

54

3.51

3

372

173

130

F00069713

397413.3

6284641.8

421.7

80

3.40

20

2740

2253

168

F00069702

397404.7

6284648.3

421.9

75

3.00

27

8324

1702

256

F00069741

397387.2

6284664.2

419.9

80

2.90

4

406

119

85

F00069740

397387.9

6284663.5

420.4

115

2.84

6

1443

1628

42

F00069708

397409.4

6284645.0

421.7

73

2.60

12

633

1826

121

F00069715

397414.1

6284640.2

422.3

100

2.60

4

216

96

155

25776

397403.4

6284649.8

421.6

38

2.54

11

1660

467

128

F00069782

397368.7

6284679.6

414.8

44

2.30

1

217

107

20

F00069706

397407.8

6284646.0

421.8

72

2.30

7

1286

368

170

25776

397398.1

6284655.6

421.1

38

2.00

13

2170

1860

66

F00069745

397384.3

6284666.9

418.8

55

1.90

6

387

478

58

F00069737

397390.3

6284661.9

420.7

73

1.90

17

1703

5027

87

F00069760

397373.4

6284676.2

415.5

41

1.70

2

146

229

71

F00069704

397406.2

6284647.1

421.9

80

1.70

4

683

93

134

F00069748

397382.2

6284668.9

418.4

80

1.60

3

119

77

128

F00069718

397415.7

6284637.8

423.1

100

1.50

6

897

580

105

F00069783

397367.9

6284680.1

414.7

58

1.40

1

28

21

20

F00069723

397417.4

6284633.4

424.4

145

1.40

5

595

1162

113

F00069719

397415.9

6284636.8

423.3

130

1.30

3

199

145

154

F00069701

397403.9

6284649.0

421.9

70

1.10

35

6207

4760

184

F00069710

397411.0

6284643.7

421.7

85

1.10

6

416

651

175

25776

397402.1

6284651.2

421.8

38

0.68

30

5710

5610

148

Casper Channel Sample Map  

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

Quality Assurance/Quality Control (QA/QC)

All channel rock samples were taken at surface in outcrop at 1 meter spacing using a 14" circular diamond blade cut off saw. Two cuts were made approximately 10cm apart to a depth of 10-15cm then a continuous channel of rock between the cuts was removed with a hammer and chisel. The channel samples were cut perpendicular to the strike of the vein. Channel samples ranged from 0.29 and 1.60m in length. Sample tags were submitted into each bag, the rock was then described, logged, then sealed and shipped to SGS Canada Inc. in Burnaby BC, an ISO 9001: 2008 certified lab, for base metal, sulphur and precious metal analysis using Inductivity Coupled Plasma (ICP), and Fire Assay (FA) methods.

All 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 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.

SOURCE Garibaldi Resources Corp.

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