As Garibaldi Resources (GGI, TSX-V) continues to build out its Discovery zone at Nickel Mountain with more high-grade intersections, a game-changing development has dramatically increased the potential scale of the Eskay Camp’s first magmatic Nickel-Copper sulphide system.
Major new surface discoveries on the margins of the receding E&L Icefield are pointing to something truly unique – a “jewellery box” of Nickel, Copper, Cobalt, Palladium Platinum, Gold and Silver extending well underneath the 1.6-km-long, 1-km-wide E&L Icefield…
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35 Comments
Jon how do these results tie in with the conceptual models of HC 1&2. Also what are the implications for MTS??
They’ve obviously used the conductive anomalies to build out the Discovery Zone, Patrick, with lots of room to continue to do so, going to the south, the west and the east, and I don’t believe they’ve even had a chance yet to begin testing HC-2…
Open in all directions including at depth…definitely a strong southwest-northeast orientation with a massive sulphide trend that almost certainly extends under the icefield for hundreds of meters, just like Seabridge’s Iron Cap but GGI has the high-grade Nickel, Copper plus 5 other metals…Northwest Zone forms part of what is a large disseminated halo…
A very robust system at Nickel Mountain – the growing possibility of a new mine – can only be helpful for Metallis and reinforces the possibility of more Nickel sulphide deposits along the western margin of the Eskay Rift…
Jon, thoughts on GGI share price today based on results? Looks like we might be in for a rollercoaster ride possibly both up and down
I just love the way this is headed on the ground, TradingAgent, and market this has it all to push fwd really aggressively in the coming weeks…volatility at times for sure – always in these type of situations…but we got accustomed to that last year…
Hi Jon, I just looked back on the sequence of events at Voisey”s Bay with diamond fields in the early days for clues where Ggi might be headed: in ‘ Nov 94, diamond fields in hole 2 – 33 metres of ‘massive sulfides’ – share price 4.65
Dec. 94 assays return 2.23% nickel 1.47% copper .123% cobalt – share price 13.50
Final share price after wheeling and seeking and confirming the ovoid of 104m+. : 120 dollars per share
Where is Ggi along this potential path of sweet amazing news?
ugly market out there today. GGI taking a bit of a hit, down 11% on the news and CCW down 8% so far. Hopefully we see some bottom fishing come in shortly to support these stocks. Mondays are often down days it seems for whatever reason.
GGI is trading nicely, broen…nothing unusual about a minor pullback immediately upon news but holding up well and the rest of the week is going to get very interesting…the facts on the ground are very bullish as this is definitely no small system, and it has some of the highest tenors seen in Nickel sulphide deposits…
Excellent deal for Crystal Lake, getting such a large land package in the Eskay Rift…game-changer…
Burgundy Ridge drilling during first half of October – lots of receding icefield there, great target for a discovery on first-ever drilling…
And look at some of these numbers from Newmont Lake gold deposit…
55 g/t Au, 40 g/t Ag and 0.97% Cu over 11 m (1987)
21 g/t Au, 1.4% Cu over 8.4 m (1989)
26.4 g/t Au, 21.3 g/t Ag and 0.21% Cu over 14 m (2008, Romios)
753 g/t Au, 462 g/t Ag, 0.69% Cu over 0.44 m (Romios)
Eric Sprott would love some of those intersections…
Only 20% of historical core was assayed
Drilling only to 100 m
Many mineral occurrences around Newmont Lake deposit
It all comes down to step out results with Ggi I guess, not feeling as confident as I was yesterday with this! No big hitters yet as far as investors
Sorry , diamond fields Voisey bay discovery hit 145. Dollars pre split. Lol. An ovoid with satellite deposits. The golden triangle of British Columbia keeps spawning future and current mines. I just read the Romios /Clm news. Where are they in the golden triangle ?
Hi Jon, ok for a property in the GT, but many of us bought CLM for the spec on the Ontario property that was advertised at length during winter and spring, and still no idea what happened there. Do you have a clue what is going on? Not great to be left in the dark.
This is actually a crappy trading day for ggi.
same as last year for GGI, big expectations, not met, but in a better place than last year. Down 60 cents so far this AM, Hopefully this settle back in the 235-250 range , but we will see at 4. A stepout typically suggest continuous mineralization. Can we expect that ? no map outlining exactly where this section is, was there? I hoped to se the 3d and VTEM released this time around. Co-ords were nice, but that means we have to wait for the angry geo, and I have to thinkt hats not a great strategy for GGI to let them come up w the maps. Think we will see them this season?
Hi Jon – what would you consider a bullish close today for GGI technically speaking? What area are you looking for it to hold
Minor pullback.. 20% doesn’t seem minor..
Much bigger pullbacks on news in Nov-Dec last year, Smitty, so 20% on volatiliy scale for GGI in that context isn’t much…
I think that RNX stole everyone’s thunder today. If it continues to prove itself there is no telling where it can go.
Ggi has got to be one of the most difficult stocks to own. Don’t really know if I’ll be a bagholder. Sorry for the negative sentiment, but that’s how she goes.
Warren Irwin is out of GGI now except for his $4.50 warrants.
Or so he says…old news, though, TradingAgent…
I was certainly expecting more from CLM but heyyy, at least there’s something to look forward to because as someone else pointed out here previously, nothing came out of the Program at EMO or is it ELMO ???? Not a word outta Ontario and now helping out Romios …. hope there’s more in the Bag !!
BMR, ggi touched support and bounced. If news was bad, I would have expected it to crash through those levels. Seems like ggi needs to wait for next round to break $3.
Jon
no mention of HC1, is that a concern? That was a large conductor showing on VTEM and no mention today?
thanksw
No concern to me, gregh…no specific mention of that, but the system remains open in all directions and at depth – and Regoci did refer to successful use of borehole EM and VTEM…they could be keeping cards close to their chest on that, or saving it for next news…only 2,300 m reported so far from 8,000 of drilling…
I think every mining stock is down double digits today. Certainly seems that way. GGI, CCW, MTS, CLM all down double digits. Come on market – throw investors a bone here, its been a long summer already, lol!
It would be nice to see some upward movement in: AIS, MOON, CCW and WHM. It’s quite frustrating right now but I am hoping for some big news from all of BMR’s recommendations soon.
Seems to be a symptom of the market. BMR has said the market is VERY selective. Well IT REALLY IS. It’s bountifully rewarding big big results. That’s what we need. Else it’s gunna get punished.
Swimming in a bloodbath became the 4pm tradition… Can you tell us anything encouraging Jon, please? 🙁
It helps to listen again to what Makela had to say, jeanmichel.
Jon, I do agree. Listen to Makela and you will sleep a little easier. On another note, CCW should be releasing assays next. Do you think this week Jon?
Hi Jon. What can you say about ggi staying above $2 this week and beyond. I purchased gbb many many years ago and got stuck holding the bag with a huge loss on ggm now with new name change. I definitely do not want to get stuck holding ggi like I did gbb. My heart can only take so much. Would you advise continuing to hold? I am afraid of a break of $2 support and then it’s back down to pennies. Is this a reasonable fear or are we expecting future news shortly that will prevent this from ever happening. Sorry. Very nervous investor. Thanks.
I would think lots of money is pot stocks , that bubble will pop at some time
right now its quick trading going for the flavour of the minute, patience and charts need to be looked at, the market decides where there going to be placing are cash news is always hard to take some times sell on news ,some times hold for next set of results , good luck which ever way you look at it
Did GGI Miss on HC1-HC2 Jon? It looks like from his Quilty pics they’re drilling 600+ meters from last years discovery , would that be “F” they’re drilling ?
HC-2 was not even tested in these first set of holes, Sweet, and the Disovery zone was extended 50 m to the southeast in the direction of HC-1 (and continuing to expand as we heard from Makela yesterday). Still very early in terms of drawing conclusions with regard to the south, based on first update, but GGI confirms the system remains open in that direction and we know it’s a deposit that trends southwest to northeast…
What’s key is that the package of prospective rocks thickens to the east-northeast – again, under the icefield is where this could build into a huge Nickel-Copper-rich massive sulphide deposit…preserved beautifully under the icecap which is 1.6 km long and up to 1 km wide…district model for that, though it’s a different type of deposit, is Seabridge’s Iron Cap…
Up until yesterday’s news, the only known massive sulphide outcrop at Nickel Mountain was at the top of the mountain in the NW zone, about 15 m of massives. Now we know there are massive sulphides outcroping over a much broader area, and it all points toward a system extending underneath the snowfield…that’s where the massives may have really piled up…
That’s what we learned yesterday, and I’ll gladly take that because Nickel Mountain is now light years ahead of where it was just over a year ago…
I agree Raffi, MOON, AIS, IMR haven’t done what was expected. In fact MOON hit prices not seen January 9th. I hope this is the bottom on this one and we see some upward movement soon. Also most of the lithium juniors have similar charts. AIS is no exception. I believe this is a sector issue rather than a refection on a specific company. Once this sector turns around, I would think we will see some upward movement on AIS. Its hurry up and wait…. for a while longer,