Garibaldi GGI.V

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2 years 3 months ago #118845 by alexgreat
alexgreat replied the topic: Garibaldi GGI.V
Wow over $1.00 today and they raising $6 million

2017-09-01 13:18 ET - News Release

Mr. Steve Regoci reports


Garibaldi Resources Corp. has intersected two long intervals of nickel-copper sulphide mineralization totalling 176 metres and consisting of pyrrhotite-pentlandite-chalcopyrite in the first drill hole at its 100-per-cent-owned E&L project at Nickel Mountain near Eskay Creek. Drilling of the second hole begins imminently.

Significantly, borehole EL-17-01 was drilled away from the historical mineralized zones into a previously untested area in order to provide the best immediate platform for SJ Geophysics' Volterra borehole EM (electromagnetic) survey as it gauges the orientation of conductor D. This new discovery convincingly expands the scale of the mineralizing system eastward from the high-tenor E&L mineralization and beyond the historical estimates from 12 shallow holes drilled by Silver Standard in the 1960s. The downhole survey will be completed for each drill hole and is expected to provide a reliable vector to the interpreted massive sulphide body.

Additional highlights of the first drill hole:

EL-17-01 entered mineralized gabbro beginning at a depth of 51 metres with disseminated sulphides continuing to 169.5 metres. A second section of disseminated sulphides started at a depth of 274.5 metres and continued to 332 metres. Metre-scale intervals of up to 30 per cent sulphides at the base of the intercept occur as heavy disseminations, net textures and gash veins.
EL-17-01 remained in the E&L intrusive complex from the collar to the end of the hole at a depth of 441 metres. Core is being processed and assays will be reported as soon as possible.
Dr. Peter Lightfoot, an internationally recognized nickel sulphide expert and a technical adviser for Garibaldi, commented: "The first borehole encountered a sequence of rock types varying from ultramafic through chaotic-textured olivine gabbro and leucogabbro. Magmatic-textured sulphides with blebby disseminated sulphides occur in association with all rock types, except for the leucogabbro.

"The range in rock types, including the chaotic-textured rock types at E&L, are similar to those found in other global examples of nickel sulphide deposits hosted by small intrusions that provided very efficient magma highways from the mantle," Dr. Lightfoot concluded.

True widths of the mineralized zones intersected in the first hole are unknown at this time.

Garibaldi accelerates nickel mountain program

Garibaldi is pleased to announce that it has arranged a non-brokered private placement to raise total gross proceeds of $6-million. The fully subscribed financing is expected to close by no later than Sept. 15, 2017.

Private placement details

Garibaldi will issue 2,307,697 units at 65 cents per share (gross proceeds of $1.5-million) and 5,999,999 flow-through units at 75 cents per share (gross proceeds of $4.5-million).

Each common share unit at 65 cents comprises one common share in the capital of the company and one full non-transferable share purchase warrant.

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2 years 3 months ago #118727 by Hoss
Hoss replied the topic: Garibaldi GGI.V
Yup, we back up to highs on news today. Drlling will start very soon'
2017-08-18 11:27 ET - News Release

Mr. Steve Regoci reports


Garibaldi Resources Corp. has provided an exploration and corporate update pertaining to the company's 63-square-kilometre and 100-per-cent-owned E&L project at Nickel Mountain in the heart of northwest British Columbia's prolific Eskay camp.


Crews, including Full Force Drilling out of Peachland, B.C., have mobilized to commence diamond drilling within the next several days at the historic E&L deposit, the Eskay Camp's only nickel-copper massive sulphide system just 11 miles southwest of Eskay Creek;
SJ Geophysics has been carrying out ground-based loop EM geophysics to ensure even greater accuracy at targeting known nickel-copper-rich mineralized zones at the E&L and the strong, broad VTEM conductor estimated to begin within 20 to 40 meters below the deepest hole drilled (122 meters) by Silver Standard in the mid-1960's;
Garibaldi's initial drill holes targeting the VTEM conductor will be drilled from the west and the east in a scissor pattern to ensure successful intersections of the as yet unknown orientation of the anomaly in the third dimension.

Steve Regoci, President and CEO, stated: "It has been nearly 50 years since drilling has been carried out at the top of Nickel Mountain where massive sulphides were originally found in outcrop in the early 1960's. I commend our team of nickel sulphide experts for the exceptional work they have done to compile and reinterpret historic data while merging that with our own geological and geophysical data covering the E&L and a potential multi-kilometer-long mineralized structural corridor. We will issue a news release upon the commencement of drilling."

All 12 Silver Standard holes drilled in the mid-1960's intersected nickel-copper mineralization highlighted by a 37.8-meter interval in DDH-4-1966 that returned 1.3% nickel and 0.79% copper, including 5.9% nickel and 1.7% copper over 2.74 meters near the bottom of the hole.

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2 years 3 months ago #118694 by GoldnBoy
GoldnBoy replied the topic: Garibaldi GGI.V
Stock dropped as low as 48 but is showing nice consolidation here in 50s

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2 years 3 months ago #118678 by GoldnBoy
GoldnBoy replied the topic: Garibaldi GGI.V
Looks like a good move for those that took some profits yesterday, at least in the short term.

The company issued the standard news releases that they are not aware of any material changes on why the stock is higher.

You ever wonder why IROC questions companies when the stock goes up, but not down??

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2 years 3 months ago #118676 by DearJohn
DearJohn replied the topic: Garibaldi GGI.V
I still have a position, not a huge one so I am going to hold on for drill results and see then where things are at.

Sounds very promising and a good drill plan, from recent news release

Drilling strategy

Garibaldi's drilling will cut across the known mineralized zones to verify the above historical numbers and test for precious metal and cobalt content, while also continuing beyond a 122-metre depth into Anomaly D to potentially greatly expand the historical deposit. The conductor measures at least 260 metres long, and its potential depth extent has not been delimited in any way. Downhole large-loop electromagnetic geophysics will be employed during the drill program.

Dr. Peter Lightfoot (Garibaldi advisory board) on E&L project

Dr. Lightfoot, recognized as one of the world's leading nickel sulphide experts who recently retired from his position as chief geologist for Vale and started Lightfoot Geoscience last year, commented: "Given a broad range of historical data that we've been able to compile and reinterpret, and new data that Garibaldi has produced through geophysics and sampling, the E&L at Nickel Mountain has to be viewed as an exciting and highly promising nickel sulphide prospect. An important new discovery would have profound implications for the study and pursuit of nickel sulphide deposits in the Canadian Cordillera."

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2 years 3 months ago #118669 by Hoss
Hoss replied the topic: Garibaldi GGI.V
Yup, I hold some, sold a bit today, it has been up like 7 days in a row, a rest is over due

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2 years 3 months ago #118668 by GoldnBoy
GoldnBoy replied the topic: Garibaldi GGI.V
I own some and good idea to start a Topic. Yes the area is hot and we know from historic drilling that there is a high grade zone, Drilling should be a pretty sure hit.

Gold stocks might be struggling but the juniors are not, if they have a good project

But I took some part profits too and will now hold rest for drill results

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2 years 3 months ago #118665 by davplan
davplan created the topic: Garibaldi GGI.V
Any other member hold a position in this stock?

I have a decent position and have been taking money off the table starting at 26 cents right up to today when I sold some at 66 cents. I'm doing that for liquidity purposes as I'm on margin (that's because I went down hard with the brutal bear and have tried to keep my positions and hopefully ride an eventual breakout in gold stocks to recover my losses) I need to take profits when they appear.

However Garibaldi's move from 15 cents to today's 66 cents looks a bit to good to be true. I did not take enough money off Zonte when it move up to 50 cents and my rule is always to take some profits. Ron had felt Garibaldi would digest profits and come back to below 30 cents which I was hoping for so I could re buy what I've been selling.

Anyone else hold a big position in Garibaldi? Any other thoughts. I know the area of Garibaldi's discovery is hot but a 4 times move when gold stocks in general have been struggling looks 'a little too good'.
What am I overlooking?


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