Garibaldi drills 10.15 g/t gold over 4.5 metres at Casper, British Columbia

Garibaldi Resources Corp. [GGI-TSXV; GGIFF-OTC; RQM-FSE] reported results from early-stage exploratory drill holes testing multiple mineralized veins and volcanic rock units at the Casper quartz gold vein system. Drilling at Casper, 20 km north of its E&L project in the Eskay Camp of northwestern British Columbia, was completed in late 2021.

Five diamond drill holes followed-up the first four holes into the Casper discovery reported February 12 2021. Eight of the nine holes have intersected significant gold mineralization, with increasing gold grades towards the southeast.

Drill core samples from silicified volcanic rocks containing quartz-carbonate-sulfide veins at a depth of 129.5 metres returned 10.15 g/t gold over 4.5 metres (CAS-21-05: 129.5-134m), including 29.94 g/t gold over 1.5 metres (CAS-21-05: 129.5-131m). This intercept may be continuous with the 4-metre-thick mineralized silicified unit containing visible gold intercepted in 2020, located approximately 65 metres to the northwest. This hole validates the exploration concept that gold mineralization is associated with a broad silicified volcanic unit rather than discrete local veins, expanding the potential for a much larger gold-bearing mineral system.

Elevated gold abundances along a 260-metre strike length are confirmed by drilling, and the system remains open with increasing potential to the southeast. Previously reported surface trenching has also exposed the Casper vein for over 120 metres strike length, and select rock samples exceeding 1.0 g/t gold occur at surface for over 330 metres, within a 500-metre wide zone of anomalous gold concentrations in soil.

Fine grained visible gold has been intercepted in both 2021 and 2022 drilling as well as 2022 trenching. Multiple grab samples with visible gold trenched in 2020 from the east side of the main Casper vein returned 249.0, 92.3, 75.3 and 58.4 g/t gold.

Exploration at Casper has identified a continuous zone of gold-rich quartz vein mineralization in association with soil geochemical gold anomalies and extensive rock-chip gold anomalies both along strike and across strike indicating potential for multiple sub-parallel veins of mineralization. An opportunity exists to expand the footprint of the mineral zone and identify structurally-controlled blow-outs with economically interesting grade and thickness of gold-silver mineralization.

Jeremy Hanson, VP-Exploration, stated: “We are very encouraged by the second round of drilling results at Casper. We are still in the very early stages of this project, but we have confirmed that gold is present in both veins and the silicified host rocks. This verifies that the Casper system could be another gold-rich system in the Eskay Camp.”

Steve Regoci, CEO, stated “The Casper discovery continues to bolster our impressive Eskay area precious metal prospects. It is the first gold system discovered amongst our numerous gold showings which will be the focus of a separate exploration initiative along with Palm Springs during 2022. The high-grade Ni-Cu-PGE E&L system at Nickel Mountain is the primary focus along with numerous base metal targets identified from the results of the property wide ZTEM geophysical survey. These new base and precious metal targets will provide additional opportunities for significant discoveries in the Golden Triangle.”