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Garibaldi Acquires Advanced Nickel-Copper-Gold Deposit in Golden Triangle
Garibaldi Acquires Advanced Nickel-Copper-Gold Deposit in Golden Triangle Garibald...
About this update from Garibaldi Resources Corp.
[{"type":"text","content":"\n\n\n\nGaribaldi Acquires Advanced Nickel-Copper-Gold Deposit in Golden Triangle\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nGaribaldi Acquires Advanced Nickel-Copper-Gold Deposit in Golden Triangle\nCanada NewsWire\nVANCOUVER, June 15, 2016\n\n\n\nTSXV: GGIOTC: GGIFFFrankfurt: RQM\n\n\n\nVANCOUVER, June 15, 2016 /CNW/ - Garibaldi Resources (TSX.V: GGI) (the \"Company\" or \"Garibaldi\") is pleased to announce that it has acquired an option to purchase a 100% interest in the historic E&L nickel-copper-gold deposit and surrounding claims located at Nickel Mountain, contiguous to Colorado Resources' KSP Property and 6 km southwest of Eskay Creek in the heart of escalating exploration activity within northwest British Columbia's prolific Golden Triangle. \n\nThis acquisition boosts Garibaldi's holdings in the district to more than 150 sq. km covering three strategic properties, targeted on the merits of key geological features mapped along mineralized trends. Garibaldi's E&L and Palm Springs Project (PSP) adjoin half of the entire eastern border of the KSP which stretches 15 km north-south.    \n\nThe E&L deposit was discovered by 5 diamond drill holes in 1966 with mineralization extending to 210 meters and zones remaining open laterally and to depth. Work since 1971 has been limited to aeromagnetic surveys with no documented exploration since 1990. The claims covering the deposit were held by Silver Standard Mines from 1958 to 2014, and Silver Standard retains a 1% NSR. \n\nHistoric reports show that mineralization at E&L consists of disseminated and massive pyrrhotite, pentlandite and chalcopyrite hosted in an olivine gabbro stock that intrudes Lower Jurassic sediments and volcanics.  The Nickel Mountain gabbro is a unique lithology in the Stewart-Iskut region. \n\nAccording to the B.C. Ministry of Energy & Mines MINFILE no. 104b 006, the E&L has historic Indicated and Inferred resources estimated at 2.9 million tonnes of 0.80% Ni, 0.62% Cu, 0.34 g/t Au, and 6 g/t Ag with anomalous values in platinum group elements (Qu...