Garibaldi Resources (TSXV: GGI) this morning reported assay results from four shallow drill holes conducted at the firms Eskay Creek property. The firm has encountered gold mineralization at the previously untested Casper Quartz Gold Vein system on the firms land claims, which border the historic Eskay Creek Mine.
A total of 639.5 metres were drilled on the property via the four shallow drill holes. Highlighted results include 9.1 g/t gold over 0.72 metres within the Casper vein, as well as 8.2 g/t gold over 0.56 metres within a second vein.
The four drill program confirmed that at least three mineralized quartz veins exist on the property, of which two contained visible gold. Additionally, many vein splays and quartz veinlets were intersected within the cores collected, with all four drill holes hitting gold mineralization.
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The drilling conducted on the property followed sampling and trenching that took place last year, with 18 of 21 shallow backpack drill results have intersected significant gold mineralization previously.
Going forward, the company has indicated that multiple targets and veins remain to be drill tested, while labeling the current program a success. The company is now working with Eskay Mining Corp, whom borders the property and now owns a 19.5% stake in the firm, to collaborate on 2021 programs for the property. The system remains open, with rock samples pointing to a trendline of at least 330 metres.
Garibaldi Resources last traded at $0.50 on the TSX Venture.
Information for this briefing was found via Sedar, and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
