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5:00 am Pacific

BullMarketRun.com

Nickel Mountain, in the heart of a high-grade producing Gold Camp just 11 miles southwest of one of the great ore discoveries of all time at Eskay Creek, has delivered more world class Nickel sulphide intervals with Garibaldi Resources (GGI, TSX-V) announcing this morning that drill hole EL-17–09 has intersected 12 m of 6.2% Nickel and 2.9% Copper, plus value added PGE’s, Cobalt, Gold and Silver, expanding a massive sulphide discovery zone east of the historic E&L deposit (includes 9.9 m @ 7.3% Ni and 3.3% Cu).

At a slightly shallower level in EL-17–09 is another zone of Nickel and Copper, 32.5 m grading 0.91% Ni and 0.69% Cu, begging the question:  If EL-17–09 doesn’t qualify as a “Discovery Hole”, along with EL-17–04 reported earlier (7.2% Nickel and 3.4% Copper over 4.8 m within a broader interval of 48.2 m highlighted by 1.1% Nickel), then what may exist within EL-17–14 which is being labelled by Garibaldi as its “Discovery Hole” at Nickel Mountain with assays pending?

Dr. Peter C. Lightfoot

Dr. Peter Lightfoot, one of the world’s foremost Nickel sulphide experts and a technical adviser to Garibaldi, had this to say about the latest massive sulphide intersection:

“The unusually high grades in massive magmatic sulphides at Nickel Mountain are indicative of an open system magmatic event within the Eskay Rift collisional setting, an ideal structural environment for a unique discovery such as this.” 

Lightfoot, the lead speaker at a 9-day course beginning later this week covering major Canadian Nickel deposits, is a conservative geologist.  For him to use the word “unusual” is, in itself, unusual.  Months ago, based on an accumulation of geological and geophysical data he had carefully analyzed, he predicted the strong possibility of a game-changing Nickel sulphide discovery in the heart of the Eskay Camp and he has been proven correct.  He also now believes that other discoveries will be made along the newly-defined Nickel Corridor, much of which is controlled by Garibaldi though Metallis Resources (MTS, TSX-V) is also an important player.

Four other highlights from this morning’s news expand the scale of what’s emerging at Nickel Mountain:

1. Four holes drilled to the west have intersected thick intervals (approximately 40 m each) of Nickel-Copper-rich mineralization, building on the historic zone originally discovered in limited drilling by Silver Standard in the 1960’s, including 39.3 m grading 1.27% Ni and 0.81% Cu in EL-17–08 starting from a shallow depth of just 25.7 m;

2. Massive sulphides are increasingly being intersected in the historic area including 5.85 m grading 5.1% Ni and 2.0% Cu;

3. Additional analysis of geophysical data has expanded the number of high-quality VTEM conductors trending north-northeast of the new discovery zone along a minimum 6-km Nickel Mountain trend leading to Anomaly “A”;

4. Potentially significant unexplained anomalies in borehole electromagnetic (BHEM) data for the northwest zone are being thoroughly investigated by the Garibaldi geophysics team led by renowned expert Alan King.

Speaking of King, who’s regarded as one of the world’s top geophysicists, one of his slides from a major 2013 paper on geophysical attributes of magmatic sulphide deposits reminded everyone how Voisey’s Bay was once thought to have the “wrong geology” (northwest B.C. wasn’t on Inco’s radar screen, either).