Shares of Garibaldi Resources Corp. [GGI-TSXV, GGIFF-OTC] retreated Monday December 11 as investors continued to assess drilling results from its 100%-owned E&L Project at the Nickel Mountain property near Eskay Creek in the Golden Triangle region of northwest British Columbia.
On December 8, 2017, the company said Discovery Hole EL-17-14 returned a 40.4-metre mineralized zone, featuring a massive sulphide intersection with rich grades of nickel and copper over 16.75 metres. The company said Hole EL-17-14, was collared 200 metres east of the historic E&L deposit and drilled towards the west-southwest.
It returned 8.3% nickel, and 4.2% copper over 16.75 metres with a broader 40.4-metre section grading 3.9% nickel and 2.3% copper from 100.4 to 140.8 metres (approximate true width). The 16.75-metre massive sulphide intercept also included 6.4 g/t combined platinum-palladium, 0.19% cobalt, 1.1 g/t gold and 11.1 g/t silver.
The company said drill data so far indicates a sequence of widening intercepts and increasing grades toward the Discovery Zone to the east, which remains open for expansion in all directions, including at depth.
Garibaldi controls more than 200 km2 of exploration ground in the vicinity of the Eskay Creek mining camp, an area with an illustrious mining history dating back to gold discoveries that were funded in the late 1980s by promoter Murray Pezim, and later mined by Barrick Gold Corp. [ABX-TSX, NYSE].
Commenting on the results, Dr. Peter Lightwood said, “In the context of Sudbury contact-type mineralization, there are very few zones within the mined or historic deposits that approach the values encountered in the massive sulphides of [drill hole] EL-17-14.” Lightwood is described in a Garibaldi press release as one of the world’s top nickel sulphide experts and a technical advisor to Garibaldi.
For the rest of this news release: http://resourceworld.com/index.php/garibaldi-nickel-drilling-results-near-eskay-creek-prompt-comparison-sudbury-deposits/