Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Garibaldi Resources (Garibaldi) has found its highest copper and precious metals grades to date at its Nickel Mountain Project in Northwest British Columbia.


Drill hole EL-19-71 cut 7.94pc nickel, 5.85pc copper, and 0.16pc cobalt. However, a grading of 5.25pc for nickel and 3.2pc for copper were the highlights of this find. They were discovered in the upper section of the Lower Discovery Zone (LDZ), a 142.5-157.5 meter hole that cut massive sulphides. 


Drill hole El-19-65 revealed the possibility of a distal mineralized zone rich in copper and precious metals, including 7.92pc copper and 1.49pc nickel. Moreover, the drill hole established the presence of nickel-rich enlarged sulphides 50 meters below the LDZ.


The results from drill hole El-19-64 indicate the widest mineralized intercept since the project began, with nickel grading of 0.56pc and copper grading of 0.51pc. Additionally, El-19-64 is the third drill hole to reach a chamber that is 170 meters underneath the DLZ that Garibaldi considers highly prospective for very concentrated, large sulphides with high nickel-copper tenor.


According to Jeremy Hanson, Garibaldi’s vice president of exploration, the results don’t leave any doubt that Nickel Mountain is replete with high levels of nickel-copper mineralization. 


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