Slide 1: Nickel Mountain: Geological Characteristics of the E&L Intrusion
Nickel Mountain, Northwestern British Columbia, Canada: Geological Characteristics of the E&L Intrusion and the Ni-Cu-Co-Precious Metal Sulfide Mineralization Peter C. Lightfoot, PhD, P.Geo. Technical Advisor, Garibaldi Resources Corp. OCTOBER 2020 TSK-V:GGI www.garibaldiresources.com www.lightfootge
Slide 2: Geology of the Eskay Rift and location of the principal ore deposits
132° 128° Geology of the Eskay Rift and location of the principal ore deposits Dease Stikinia (selected units) Peri-Laurentian terranes Lake Bowser Lake Group Stikinia Iskut River Formation Quesnellia Upper Hazelton Group Cache Creek North America Lower Hazelton Group Yukon-Tanana Red Chris Slide Mo
Slide 3: Geological and geophysical regional setting of the Nickel Mountain Property
Geological and geophysical regional setting of the Nickel Mountain Property Geology & Mineral Deposits 130° ISKUT Bouger Gravity Signal (GSC*) 130° ISKUT Kinaskan Red Chris Kinaskan Red Chris Lake Lake Coast Plutonic Complex Bowser Group Fault Schaft Schaft Creek Hazelton Group Creek Highway Stikina
Slide 4: Geology of the Nickel Mountain Property and location of E&L
Geology of the Nickel Mountain Property and location of E&L 390000 400000 410000 420000 430000 • Extensive footprint of the Nickel Mountain gabbro complex extends over 12km of strike length 6290000 6290000 Casper 5000 m • Prospective gabbroic intrusions are hosted by WGS84, 9N sedimentary rocks of t
Slide 5: Gabbroic rocks extend across a ~12km tract of Nickel Mountain
Gabbroic rocks extend across a ~12km tract of Nickel Mountain on GGI Property Nickel Mountain: distribution of mapped gabbroic rocks in outcrop and in-situ samples with MgO>7.5wt% showing the extent of highly prospective Nickel Mountain gabbro suite rocks in shales of the Spatsizi Formation Upper Ha
Slide 6: Tracing the extension of E&L along the prospective corridor defined by drilling
Tracing the extension of E&L along the prospective corridor defined by drilling • Field work designed to identify new segments of mafic intrusions utilizing results of 2018-2019 lithogeochemistry and spectral interpretation of Worldview 3 satellite images • Boulders with mineralization and textures
Slide 7: Tracing the extension of E&L along the prospective corridor
Tracing the extension of E&L along the prospective corridor • Float and outcrop samples located west and east of E&L 2cm Gabbroic rocks mapped at surface Lithogeochemistry sample station with gabbro in outcrop or subcrop (>7.5%MgO) C E&L D A Cut sample A B Taxitic-textured olivine gabbro with ~5% 1c
Slide 8: Modelled distribution of gabbro and jarosite from Worldview 3 satellite data
Modelled distribution of gabbro and jarosite distribution based on Worldview 3 satellite data with superimposed location of gabbroic intrusions and samples with >=7.5%MgO • SIGNIFICANCE OF JAROSITE: Jarosite is a hydrous sulfate of potassium and iron with a chemical formula of KFe3+3(OH)6(SO4)2. Thi
Slide 9: Long section view towards north showing E&L gabbro and mineralization
Long section view towards north showing the distribution of E&L gabbro and mineralization • Exploration potential at E&L exists along the plunge extent of the intrusion towards the east E&L ZONE NW Zone 1800 m NE Zone Upper Discovery Zone • High-grade massive sulfides tend to be hosted Lower Discove
Slide 10: Sequence of events in the formation of the E&L and Nickel Mountain mafic intrusions
Sequence of events in the formation of the E&L and Nickel Mountain mafic intrusions NM GC EL 19-50 CATIMS zircon data E&L TG Pb/238U 206 NMG Zircon from the barren Nickel Mountain gabbro from borehole EL-17-01 168-181m: Transitional gabbro (TG) between Nickel EL-19-50 (15-20m) adjacent to the E&L In
Slide 11: E&L Intrusion: texture and sulfide content of rock
E&L Intrusion: texture and sulfide content of rock 2cm 2cm Hole EL-18-19 @ 96.25m Hole EL-20-88 @ 525m Disseminated sulfide in orbicular to taxitic-textured olivine gabbro Disseminated sulfide in olivine pyroxenite Po Po Cpy-Pn 2cm 2cm ~5cm ~5cm Hole EL-19-47 @ 89.7m Hole EL-19-53 @ 124.0m Hole EL-1
Slide 12: Metal Tenor of Sulfide
Quality of mineralization at E&L and variations in Ni, Cu, Co, and precious metal tenor* • Massive and disseminated sulfides contain an average of 7-8wt%Ni in 100% sulfide • Massive sulfides have lower Cu and total precious metal tenor than disseminated sulfide • If the disseminated and massive sulf
Slide 13: Quality of massive and semi-massive sulfide mineralization at E&L
Quality of massive and semi-massive sulfide mineralization at E&L: low concentrations of deleterious elements UNITS n MEAN MEDIAN ST.DEV. (1 sigma) TYPE UNITS MASU*-SMASU** MASU-SMASU MASU-SMASU MASU-SMASU Massive and semi-massive sulfides (>=15 wt% S) Ni wt% 479 6.6 7.3 1.9 Cu wt% 479 3.2 3.3 1.3 C
Slide 14: Systematic variations in base and precious metals through massive sulfides of Lower Discovery Zone
Systematic variations in base and precious metals through massive sulfides of Lower Discovery Zone in hole EL-17-14 Average concentrations in rock from hole EL-17-14: • 1.7g/t Pt • 4.0g/t Pd • 0.89 g/t Au • 0.16g/t Rh • 0.11g/t Ru • 0.19g/t Ag * * Massive sulfide Metal tenors relative to those in C1
Slide 15: Mineralogy of massive and disseminated sulfide mineralization
Mineralogy of massive and disseminated sulfide mineralization Data density plot showing Chalcopyrite normative proportions of chalcopyrite, pentlandite and pyrrhotite calculated from assays from E&L with S>5wt% Pentlandite Pyrrhotite • Hexagonal:monoclinic pyrrhotite ratio 0.5 (X-ray diffraction on
Slide 16: Comparison of metal tenor of E&L sulfides with global magmatic sulfides
Comparison of the metal tenor in 100% sulfide of E&L massive and disseminated sulfides with global magmatic sulfides • Ni and Cu tenor of the massive and disseminated sulfide at E&L compare with world-class magmatic sulfide ore deposits • Precious metal tenors (3E)* are amongst the highest of the de
Slide 17: Tracing the extension of E&L along the prospective corridor
Tracing the extension of E&L along the prospective corridor • Thanks to consistent careful assaying, value can be extracted for exploration purposes from the database • The whole-rock geochemical signal E&L gabbro of the barren and weakly mineralized Nickel Mountain gabbro gabbros from the E&L Intru
Slide 18: Geochemical signal of E&L and Nickel Mountain gabbroic rocks
Geochemical signal of E&L and Nickel Mountain gabbroic rocks Regional Exploration Signal: as shown on page 17, the geochemical signals from E&L type gabbro contrast with those of the Nickel Mountain type gabbro: variations in MgO and La/Y help target gabbro which belongs to the mineralizing event. C
Slide 19: Morphology of the E&L Intrusion and localization of sulfide mineralization
Morphology of the E&L Intrusion and localization of sulfide mineralization • In 2019, Vektore was engaged by GGI to provide technical expertise to the Nickel Mountain Project. • Vektore’s world class structural experts support the project by collecting, processing, and interpreting structural data f
Slide 20: Volume of E&L Intrusion (2020)
Small differentiated intrusions represent open system magma conduits (chonoliths) which are excellent targets for magmatic sulfide exploration • The E&L intrusion is growing in volume with exploration along the WNW-ESE trend • E&L is comparable in size to many intrusions containing economically impo
Slide 21: Open system magma conduits (chonoliths) typically have a small volume and footprint
Open system magma conduits (chonoliths) typically have a small volume and footprint; exploration must follow their strike extent to find new mineral zones • Morphology of E&L Intrusion is a bladed pipe • Originally an open system magma conduit plunging at ~45 degrees towards the east • Mineralizatio
Slide 22: Global distribution of Nickel Sulfide ore deposits in orogenic settings
Global distribution of Nickel Sulfide ore deposits associated with orogenic settings like the Eskay Rift • Magmatic nickel sulfide tends to be found in association with mafic-ultramafic intrusions in rifted craton margins • Far-field stress and collisional tectonic events often transform the primary
Slide 23: Acknowledgements
Acknowledgements: Technical information in the summary has been assembled by the Garibaldi exploration team and special thanks go to Jeremy Hanson, Tom Baechler, Russ Ashton, Joe Zamudio, Mitchell Patitucci, Steve Regoci and Ray Goldie. Vektore supported the structural geology study. Drafting suppor