Issue link: http://resourceworld.uberflip.com/i/963504
A P R I L / M A Y 2 0 1 8 www.resourceworld.com 45 associated with sheeted quartz veins that are akin to those seen at the Red Chris Mine. GT Gold believes this intrusion may be analogous to the nearby Red Chris deposit, owned and operated by Imperial Metals Corp. [III-TSX; IPMLF-OTC]. At last report, Red Chis had total open pit and block cave constrained measured and indi- cated resources of 1,034.7 million tonnes averaging 0.35% copper, 0.35 g/t gold and 1.14 g/t silver. The Saddle South Zone is located about 2 km southwest of the Saddle North porphyry target with the Saddle South discovery made based largely on positive results from a systematic gold-in-soil geo- chemical survey and coincident induced polarization geophysics. GT Gold drilled a total of 86 holes for a total of 15,998 metres in 2017. Mineralization is described as epith- ermal type, with higher-grade sections characterized by semi-massive to massive quartz-carbonate sulphide veins and vein breccias dominated by pyrite. The min- eralized zones follow a steeply dipping, east-west trending structure with inter- secting northwest-southeast structural elements. Highlights from the last drill results at Saddle South include: Hole TTD056: • 23.78 g/t gold and 65.87 g/t silver over 4.02 metres (true widths unknown). This included a 0.95 metre interval averaging 50.50 g/t gold and 91.50 g/t silver. Hole TTD058: • 31.79 g/t gold and 1,141.10 g/t silver over 3.01 metres (true widths unknown). This included a 0.70 metre interval averag- ing 117.00 g/t gold and 1,835.00 g/t silver. GT Gold recently tabled initial metallur- gical test results for its Saddle gold-silver discovery. Results indicate that the gold- silver mineralization is amenable to standard cyanidation processing with average recoveries of 84% gold and 25% silver, including numerous samples that showed recoveries of over 90%, and as high as 98%. "We've delivered two entirely new dis- coveries which confirm the Saddle system is rich and extensive: high-grade epither- mal gold-silver at both Saddle South and North, and porphyry-style copper-gold- silver at Saddle North, east end. Both discoveries warrant aggressive follow-up," said Keough. The company has set itself three key priorities for 2018. First, it intends to continue expansion drilling the high- grade gold-silver vein systems at Saddle South and second is to drill test the new porphyry target, deepening hole 62 and then stepping out from it in a 200-metre grid drill pattern. Towards that end GT Gold plans to drill 18,000 metres on the property in 2018 using two drill rigs split equally between the two targets. The company has a $3.2 million in cash and another $800,000 in warrants that are in the money. With 82.2 million shares outstanding GT Gold has a market capital- ization of $37.8 million. GT Gold received the prestigious Mines and Money International Exploration and Discovery Award for 2017 for its Saddle gold discovery. Meanwhile, Garibaldi Resources Corp. [GGI-TSXV; GGIFF-OTC; RQM-FSE] plans to ramp up exploration at its wholly- owned E&L Nickel Mountain Project just 11 miles southwest of the famous Eskay Creek Mine. In December 2017, Skeena Resources Ltd. [SKE-TSXV; SKREF-OTC] signed a 100% option to acquire the Eskay Creek property from Barrick Gold Corp. [ABX-TSX, NYSE]. Discovered in 1988, the Eskay Creek Mine produced approxi- mately 3.3 million ounces of gold and 160 million ounces of silver averaging 45 g/t gold and 2,224 g/t silver and was once the world's highest-grade gold mine and fifth- largest silver mine by volume. In February this year, Garibaldi con- tracted a 1,650-line-km helicopter-borne VTEM and magnetic survey to further explore the ground around the historic E&L copper-rich, massive sulphide miner- alization and the new discovery at Nickel Mountain. "Given the tremendous success with geophysics at Nickel Mountain in 2017, as demonstrated by compelling drilling results and a unique discovery in this Camp, we're excited by what we may learn from this expanded program covering the entire trend," commented Steve Regoci, Garibaldi President and CEO. Last May, the company identified four airborne electromagnetic conductors that ranged from 500 to 900 metres in length and lined up along a 6-km northeast strik- ing trend from the E&L mineralized zone. An initial drill program was designed to test Anomaly D, a strong EM conductor that was interpreted to lie at a depth of 140 metres (which was still 20 metres beneath the deepest hole drilled at E&L by Silver Standard in the 1960s). Silver Standard's 12-hole historic drill program outlined the E&L nickel-copper- rich massive sulphide system extending 175 metres in an east-west direction. Highlights included DDH-4-1966 which returned 37.8 metres grading 1.3% nickel and 0.79% copper with 5.9% nickel and 1.7% copper over 2.74 metres near the bottom of the hole. Garibaldi followed-up its geophys- ics program with some mapping and prospecting and identified widespread pyrrhotite-chalcopyrite mineralization in surface gabbroic rocks around electro- magnetic conductor A. Anomaly A, as it is referred to, is situated 6 km northeast of the historic E&L nickel-copper rich miner- alized zone. The company commenced drilling in late August last year at Anomaly D and reported that it had intersected 176 metres of visual nickel-copper mineralization in hole EL-17-01 starting at a depth of 51 metres down-hole. The hole was drilled away from the historic mineralized zones at E&L. The company also performed LEFT: GT Gold's exploration crew at the Tatogga property in northwestern BC's Golden Triangle region. Photo courtesy GT Gold Corp.