Garibaldi Plans for 2021 E&L and Palm Springs Exploration

Rhea-AI Summary

Garibaldi Resources (TSXV: GGI, OTC: GGIFF) announced its exploration plans for 2021, focusing on expanding the nickel-copper-cobalt sulphide zone at Nickel Mountain and seeking new gold-silver VMS mineralization in the Hazelton Group. The company will conduct two airborne geophysical surveys to identify conductive targets and mineral potential, particularly in the Palm Springs claims. The collaborative approach with neighboring companies aims to enhance exploration efficiency. The VP Exploration highlighted the abundance of mineralized surface showings, indicating significant discovery potential.

Positive

• Plans to expand exploration at Nickel Mountain and Palm Springs claims.
• Geophysical surveys (ZTEM and SkyTEM) targeting high-potential mineral areas.
• Collaborative efforts with Metallis Resources and Eskay Mining enhance exploration capabilities.
• Recognition of the company's geological significance attracting governmental and institutional interest.

Negative

• None.

TSXV: GGI
OTC: GGIFF
Frankfurt: RQM

VANCOUVER, BC, May 6, 2021 /PRNewswire/ - Garibaldi Resources (TSXV: GGI) (the "Company" or "Garibaldi") is pleased to provide exploration plans designed to expand the footprint of the flagship E&L nickel-copper-cobalt-precious-metal massive sulphide zone at Nickel Mountain, and establish new discoveries along the 15km strike-length between the E&L and the nickel-copper outcrops identified at Mount Shirley in 2020.

The 2021 program will also explore for Eskay Creek type gold-silver rich volcanogenic-massive-sulphide (VMS) mineralization in the Hazelton Group, which covers a significant portion of the Company's highly prospective Palm Springs claims in the heart of the historic Eskay camp, within the Golden Triangle of northwest British Columbia.

The first stage of the 2021 exploration season will begin with two separate airborne geophysical surveys. Geotech LTD.'s proprietary deep penetrating ZTEM survey will probe for conductive targets at depths far greater than previous VTEM surveys. The ZTEM system's twofold objective is to first test the depth-extent of the battery metal-rich E&L intrusion, and survey for E&L type conductors along the northeast gabbro trend to Mount Shirley.

The ZTEM survey will then cover the remainder of the Company's Palm Springs claims including Casper, Triple Faults, the Eskay North block and other priority target areas, aimed at detecting conductors and stratigraphy prospective for hosting Eskay Creek style VMS mineralization.

Garibaldi is also participating in a SkyTEM Canada Inc. survey over select high priority target areas with technology to map the conductive and resistive properties of host rocks. The recognition of the prospective mineral potential of the Hazelton Group's stratigraphic sequence is of great importance. Exploration in 2021 will test the mineral potential of structures beneath the Bowser Group.

Geophysical Surveys

• ZTEM will target E&L conductive mineralized gabbro below the deepest 650m mineralized drill intercepts in 2020. The E&L massive sulphides rank amongst the highest percentile nickel-copper grades globally and contain eleven separate metals including cobalt, palladium, platinum, gold, silver, iridium, ruthenium, osmium and rhodium. Plans for drilling deeper ZTEM anomalies involve building drill platforms farther downslope to provide more productive holes from lower elevations on Nickel Mountain.
• Garibaldi's geological team understands the mineral potential of the Hazelton group to host not only magmatic nickel-copper-cobalt massive sulphide mineralization, but also gold-silver rich VMS mineralization of the type found at Eskay Creek. The SkyTEM survey will help identify stratiform rock units related to VMS formation and precious-metal deposition.
• The Eskay Camp is attracting ever more global mining interest with each new discovery. Garibaldi's VMS prospective Palm Springs claims are bisected by the Harrymel-Unuk fault and will be the focus of more intense exploration for new mineralized horizons. Both ZTEM and SkyTEM surveys will seek to identify key structural trends with stratigraphic features on Garibaldi's claims, similar to those described in recent VMS discoveries within the Eskay Camp.

Collaboration

Garibaldi Resources and neighbor Metallis Resources Inc. are sharing logistical costs on Geotech's ZTEM airborne survey over each Company's claims. Garibaldi is also participating in neighbor Eskay Mining Corp.'s property-wide SkyTEM survey over select target areas. Working closely with neighbors will benefit all shareholders.

Garibaldi's SkyTEM target areas, will focus on Eskay Creek type VMS stratigraphy along structural belts through its Palm Springs claims northwest of Eskay Mining's recent TV and Jeff VMS precious-metal rich discoveries.

Garibaldi's Eskay Claim group

Recognition of the Eskay Camp's remarkable geology and exploration history is drawing significant institutional, academic and government interest. Since last fall, Garibaldi is pleased to have been invited to participate in several projects and studies including a Critical Metals Initiative with Natural Resources Canada, a collaborative academic-industry project with the Mineral Deposit Research Unit of UBC targeting the metallogenic significance of the Hazelton Group, and geophysical collaboration with Geoscience B.C.

The supportive out-reach from Government agencies both Federal and Provincial, regarding Garibaldi's E&L nickel-copper-cobalt massive sulphide project and its highly prospective claim group, reflects its geological importance and significant potential.

VP Exploration Jeremy Hanson stated "We have been working diligently all winter with plans for high priority targets at Nickel Mountain aiding in tracing the E&L gabbro deeper along trend. As well, we have a number of exciting nickel, copper, gold and zinc outcrops with potential for new discoveries. We are very eager, just like the rest of the industry to get boots back on the ground for a very busy and exciting year."

Garibaldi presents conceptual geologic models.  See new maps at www. GaribaldiResources.com. 

Steve Regoci, Garibaldi CEO, stated: "Garibaldi's Eskay Claim Group is far exceeding our expectations, the discovery of the E&L nickel-copper massive sulphide intrusion along a prospective gabbroic belt of mineralized intrusive now extends over 15 km and the abundance of mineralized surface showings is very impressive.  

In addition to the E&L and Casper projects, the prospect of VMS gold mineralization along the anticline structures on the Palm Springs claim block, provides a potential wealth of new exploration targets. Plans for financing an expanded exploration program will be announced at the earliest opportunity."

Qualified Person

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.

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 Garibaldi Resources' exploration plans for 2021?

Garibaldi plans to expand the E&L nickel-copper-cobalt zone at Nickel Mountain and explore for gold-silver VMS mineralization in the Hazelton Group.

What technologies is Garibaldi Resources using for exploration?

The company will use ZTEM and SkyTEM geophysical surveys to detect mineralized targets in its claims.

How is Garibaldi collaborating with other companies?

Garibaldi is sharing costs and collaborating on surveys with Metallis Resources and Eskay Mining.

Why is the Eskay Claim group important for Garibaldi?

The Eskay Claim group is significant due to its geological potential, attracting interest from institutional and governmental bodies.

What is the expected impact of Garibaldi's exploration activities on shareholders?

Successful exploration activities could lead to new discoveries, potentially increasing shareholder value.