North of 60 Mining News - The mining newspaper for Alaska and Canada's North

Garibaldi Resources June 15 reported that it has an option to purchase full ownership of the E&L nickel-copper-gold deposit and surrounding claims located at Nickel Mountain in northwestern British Columbia.

The E&L deposit was discovered by five holes drilled in 1966 with mineralization extending to 210 meters and zones remaining open laterally and to depth.

Work since 1971 has been limited to aeromagnetic surveys with no documented exploration since 1990.

The claims covering the deposit were held by Silver Standard Mines from 1958 to 2014, and Silver Standard retains a 1 percent net smelter return royalty.

Historic reports show that mineralization at E&L consists of disseminated and massive pyrrhotite, pentlandite and chalcopyrite hosted in an olivine gabbro stock that is unique in the Stewart-Iskut region.

According to a British Columbia Minfile report, E&L host 2.9 million metric tons of historical resources averaging 0.80 percent nickel, 0.62 copper, 0.34 grams per metric ton gold, six g/t silver, and anomalous values in platinum group elements.

Author Bio

Shane Lasley, Publisher

Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.

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