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Tag Archives: E&L

GARIBALDI FOLLOWS NEW HIGH-GRADE PATHWAYS BELOW LOWER DISCOVERY ZONE AT NICKEL MOUNTAIN

Garibaldi Resources (TSXV: GGI) (the “Company” or “Garibaldi”) is pleased to report that the latest assay results from Nickel Mountain continue to build on high-grade nickel sulphide mineralization near-surface in multiple zones while significant new potential is being identified at depth with EL-19-54’s confirmation of a mineralized chamber and the discovery of another mineralized chamber, both in addition to the main E&L chamber.
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Garibaldi discovers new zone at Nickel Mountain

Semi-massive and massive sulphides have been identified in Central zone cliffs where a build-up of ice and snow had previously prevented access. Sulphides are exposed trending east-west for a strike length of 21 meters along a gabbro/dyke contact.
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Metallis Arranges $4 Million Financing

Up to 1,670,000 Non Flow-through Units will be issued at $1.20 per Unit and up to 1,340,000 Flow-through Units will be issued at $1.50 per Flow-through Unit.  Each Non Flow-through Unit will consist of one common share of the Company and one-half of one non-transferable share purchase warrant.  Each Flow-through Unit will consist of one flow-through common share of the Company and one-half of one non-transferable non flow-through share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company at a price of $1.65 per share for a period of 36 months following the closing of the financing.
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Garibaldi Gears Up for Drilling at Nickel Mountain

In support of drilling, which will commence in approximately 7 days, state-of-the-art geophysics utilizing HeliSam hybrid ground-air technology is now being carried out over a broad area in all directions surrounding the high-grade discovery zone
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