Garibaldi Expands Casper Quartz Gold Vein Over 120 Meters Selected Grab Sample with Visible Gold Returns 249 g/t

Rhea-AI Summary

Garibaldi Resources (TSXV: GGI, OTC: GGIFF) announced promising developments at the high-grade Casper gold quartz vein discovery, located 13 km from its flagship E&L nickel-copper-cobalt project in British Columbia. Recent assays revealed gold grades as high as 249 g/t, with 13 samples exceeding 10 g/t. Additionally, four new mineralized veins have been discovered, enhancing the potential of the site. These results may expedite drilling activities at Casper, bolstering exploration efforts within the historic Eskay camp region.

Positive

• High gold grade discovery at Casper with a maximum of 249 g/t.
• 13 samples returned grades exceeding 10 g/t.
• Discovery of four new mineralized veins, suggesting additional resource potential.
• Proximity to existing infrastructure enhances exploration efficiency.

Negative

• None.

TSXV: GGI
OTC: GGIFF
Frankfurt: RQM

VANCOUVER, BC, Sept. 22, 2020 /PRNewswire/ - Garibaldi Resources (TSXV: GGI) (the "Company" or "Garibaldi") is pleased to report on developments including new assay results from the "Casper" high-grade gold quartz vein discovery 13 km north of the Company's flagship E&L nickel-copper-cobalt massive sulphide project in NW British Columbia. In addition to E&L and Casper, Garibaldi owns a 100% interest in over 180 sq. kms of highly prospective mineral claims in the heart of the historic Eskay camp, one of the richest mineral districts in the Province.

Garibaldi's Casper gold vein is a strategic low elevation target (420 meters) within a km of road access and hydroelectric power. It is located 15 km west from Garibaldi's 1,500 hectare "Eskay North" gold prospect which borders the historic past producing Eskay Creek mine now being redeveloped.

Discovering a high-grade gold prospect proximal to the E&L project, is a tactical bonus allowing field crews to maintain productivity by accelerating surface exploration at Casper during weather delays on top of Nickel Mountain.

For a summary of results from earlier backpack drilling, initial channel samples and grab samples, see Feb.28, 2020 news release announcing the discovery. Exploration progress at the Casper gold quartz vein system in 2020 are as follows:

Highlights:

• Field crews have collected 165 samples within 250 meters north of and 250 meters south of the NW-SE striking Casper vein with grades reaching as high as 249 g/t gold, 13 returned grades exceeding 10 g/t, and 23 samples with greater than 1 g/t gold (Table 1);
• Mechanical trenching at the Casper gold quartz vein has further uncovered the high-grade vein over more than 120 meters, from the initial 43 meters of hand trenching exposing the discovery;
• The quartz vein remains open with mineralized rock samples extending along trend for 330 meters within a 500 meter gold-in-soil and MMI geochemical anomaly;
• Four new mineralized veins have been discovered this season most notably one 44 metres downslope from the main vein which like the Casper vein also contains visible gold and returned 76.9 g/t Au;
• The quartz vein sulphides include chalcopyrite, galena, pyrrhotite, pyrite and arsenopyrite with native gold. This discovery occurs along the robust and under-explored McLymont Creek structural corridor;
• Garibaldi has completed 86 unbiased channel samples spaced 1 meter apart throughout exposed sections of the Casper vein – assays pending. This latest round of channel sampling will aid in drill hole planning and additional trenching to be completed this year.

Jeremy Hanson, Garibaldi VP-Exploration, stated: "Even at this early stage, it's remarkable to see such consistent elevated gold grades in a quartz vein extending more than 120 meters that remains open. The recent discovery of additional mineralized veins is extremely encouraging, especially with visible gold. Casper is certainly living up to the enthusiasm generated by its initial discovery"

The discovery of the high-grade Casper gold quartz vein close to our nearby base camp is already proving to be an advantage in deploying our field crews in the Eskay camp. Along with very promising results, this has contributed to accelerating the advancement of the Casper prospect to a planned drill stage sooner than expected.

2020 Casper Rock Grab Sample Highlights

Sample	Easting	Northing	Au g/t	Ag g/t	Cu ppm	Pb ppm	Zn ppm
E00051571	397437	6284614	249.00	67	2854	5921	16
E00053949	397438	6284683	76.90	11	531	5	21
E00051576	397480	6284550	75.30	53	2786	6964	12
F00066204	397438	6284683	70.15	3	250	1	11
E00051572	397437	6284614	60.61	32	1600	2467	26
E00051577	397437	6284614	58.40	35	3832	4057	46
F00066207	397438	6284683	47.69	3	235	2	30
F00066206	397438	6284683	31.82	6	238	1	23
E00051593	397378	6284674	27.70	30	4667	1383	117
E00051579	397459	6284686	21.90	4	11	7	8
E00051581	397442	6284675	13.37	3	148	1	10
F00066072	397407	6284654	12.80	45	10624	2865	207
F00066209	397399	6284709	5.80	2	125	7	23
E00051582	397442	6284675	5.21	2	143	1	21
E00053945	397459	6284686	5.00	3	743	5	22
E00053939	397561	6284652	4.20	4	235	30	15
E00051580	397459	6284686	3.40	2	189	5	22
E00051934	397485	6284538	3.22	22	4688	15	182
F00069957	397345	6284663	2.60	9	4148	117	129
F00069956	397345	6284663	1.60	7	3782	26	100
E00053944	397459	6284686	1.50	1	76	5	18
E00053942	397340	6284767	1.20	1	12	4	36
E00051575	397432	6284601	1.09	14	2858	105	110

Grab samples are selected samples and are not necessarily representative of the mineralization hosted on the property.

Casper Map

See www.garibaldiresources.com for the latest Casper map displaying high grade gold samples, mineralized quartz veins and geochemical anomalies

Quality Assurance/Quality Control (QA/QC)

All field sample batches included 5% QA/QC samples consisting of certified blanks, standards and field duplicates. Multiple certified ore assay laboratory standards and one blank standard were used in the process. Samples for Casper were submitted to SGS Canada Inc. In Burnaby, British Columbia, an ISO 9001: 2008 certified lab, for base metal, sulphur and precious metal analysis using Inductivity Coupled Plasma (ICP), and Fire Assay (FA) methods.

Samples were prepared by crushing the entire sample to 75% passing 2mm, riffle splitting 250g and pulverizing the split to better than 85% passing 105 microns. Gold was analyzed using a 50-gram fire assay and ICP-AES, or metallic screen for coarse gold. Samples with coarse visible gold are subject to the nugget effect, may be difficult to reproduce or duplicate and may not be indicative of the overall mineralization of the vein. Samples with visible gold were analyzed using the Metallic Screen method where a minimum 500 gram sample is crushed and separated into two batches. A Minus batch with particles less than 106 microns, and a Plus batch with particles greater than 106 microns. Both batches of the sample are analyzed with a fire assay and finished with AAS, ICP-OES or gravimetric depending on grade. A final weighted average is calculated from the two portions.

The performance on the blind standards, blanks and duplicates achieved high levels of accuracy and reproducibility and has been verified by Jeremy Hanson, a qualified person as defined by NI-43-101.
All coordinates given in this document are in WGS 84 UTM Zone 9 North

Qualified Person & Data Verification

Jeremy Hanson, P.Geo., VP Exploration Canada for the Company and a qualified person as defined by NI- 43-101, has supervised the preparation of and reviewed and approved of the disclosure of information in this news release. Mr. Hanson has verified the data, including drilling, sampling, test and recovery data, by supervising all of such procedures. There are no known factors that could materially affect the reliability of data collected and verified under his supervision. No quality assurance/quality control issues have been identified to date.

About Garibaldi

Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in British Columbia and Mexico.

We seek safe harbor.

GARIBALDI RESOURCES CORP.

Per: "Steve Regoci"
Steve Regoci, President

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release.

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SOURCE Garibaldi Resources Corp.

FAQ

What are the recent assay results from the Casper gold quartz vein by Garibaldi Resources (GGIFF)?

Recent assays from the Casper gold quartz vein revealed gold grades as high as 249 g/t, with 13 samples exceeding 10 g/t.

How does the discovery of the Casper gold vein impact Garibaldi Resources (GGIFF) stock?

The discovery of the high-grade Casper gold vein may enhance investor confidence and potentially increase the stock value due to its promising results.

Where is the Casper gold quartz vein located in relation to Garibaldi's projects?

The Casper gold quartz vein is located 13 km north of Garibaldi's flagship E&L nickel-copper-cobalt project in British Columbia.

What exploration plans does Garibaldi Resources (GGIFF) have for the Casper gold vein?

Garibaldi plans to accelerate drilling activities at the Casper gold vein due to the encouraging assay results and additional mineralized veins discovered.

What are the implications of the new mineralized veins discovered at Casper for GGIFF?

The discovery of four new mineralized veins at Casper suggests greater resource potential and may lead to more extensive exploration efforts.