The company is following up on last fall’s nickel-copper-rich massive sulfide discovery.
Garibaldi Resources (TSXV:GGI) has reported that after months of preparations, a major 2018 drill program at Nickel Mountain in the Eskay Camp has commenced with two drill rigs this morning (June 8) as the company follows up on last fall’s nickel-copper-rich massive sulfide discovery east of the historic E&L deposit.
According to the release, the first stage of 2018 diamond drilling will simultaneously further define the Discovery zone and systematically step out from EL-17-14, testing for nickel-copper-rich magmatic sulphide mineralization to the south where promising conductive targets have been defined by geophysical surveys. EL-17-14 intersected 16.75 meters of massive sulfides grading 8.3 percent nickel and 4.3 percent copper, along with cobalt, platinum, palladium, gold and silver values, within a broader 40.4-meter mineralized zone.
As quoted in the press release, president and chief executive officer of Garibaldi, Steve Regoci said:
“The entire Garibaldi technical team of geologists and geophysicists are excited to build on this unique Eskay Camp discovery. Months of analyzing geophysical and other data has bolstered their understanding of the Nickel Mountain intrusive complex and has shaped an aggressive 2018 program that will test the scale of a massive sulfide discovery that’s open in all directions. In addition, there’s an 8-km-long trend of high-quality conductors to the northeast that we’re very eager to follow up on this year.
“With a treasury of approximately $25 million, Garibaldi has sufficient resources to carry out an ambitious 2018 drill program which is supported by cutting edge geophysical surveys including borehole electro-magnetics, which was a highly successful tool for us in 2017.”