Garibaldi Survey Defines Multiple Large Conductors At E&L, Company Arranges $1.3 Million Financing

- May 25th, 2017

Garibaldi Resources (TSX.V: GGI) (the “Company” or “Garibaldi”) is pleased to announce that a recently completed helicopter-borne Versatile Time-Domain Electromagnetic (VTEM) and Magnetics survey over the Company’s 100%-owned E&L deposit and immediate surrounding claims in the heart of the Eskay Camp has revealed multiple conductive anomalies with scale and signatures highly prospective for the discovery … Continued

Garibaldi Resources (TSX.V: GGI) (the “Company” or “Garibaldi”) is pleased to announce that a recently completed helicopter-borne Versatile Time-Domain Electromagnetic (VTEM) and Magnetics survey over the Company’s 100%-owned E&L deposit and immediate surrounding claims in the heart of the Eskay Camp has revealed multiple conductive anomalies with scale and signatures highly prospective for the discovery of new areas of nickel-copper-rich massive sulphide mineralization.
Steve Regoci, Garibaldi President and CEO, commented:

“While these interpretations are preliminary, as final review of a broad range of new data is completed over the next few weeks, there’s no question that first-ever modern geophysics at the E&L has further bolstered the case for a much larger mineralized system than what historical explorers assumed more than half a century ago.
We eagerly look forward to additional detailed analysis of the recently completed geophysics and the start of our ground exploration program in advance of this summer’s exciting drilling campaign.”

Early highlights of the 600-line kilometer VTEM and Magnetics survey:

  • Five conductors (A-E) exhibit multi-line airborne electromagnetic (AEM) anomalies ranging from 500 meters to 900 meters in length;
  • Each of the five conductors features core areas of B-field responses, indicative of highly conductive bedrock sources as would be expected for significant accumulations of massive sulphides;
  • Anomaly signatures at A, B and C to the northeast indicate that these responses may in fact be part of the same mineralized system over a 3 kilometer trend;
  • EM response to the south of the high tenor E&L mineralized zones confirms the potential of this under-explored area to host massive sulphides.

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