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Tuesday, November 28, 2017

Garibaldi - mighty massive sulfide mineralization

I might as well jump onto the Garibaldi-bashing wagon. I had stood on the edge muttering to myself, how the feck are were they worth >$400M based on feck all?

Their website is shite, devoid of information and looks like it was created by a child, probably the same one who created the 'fact sheet', but at last we got a section through the Nickel Mountain, the first decent 'image' from the project....ever (link)

It is a shame that it wasn't accompanied by a plan map, which would be useful in showing the 14 Garibaldi holes and the location of the 1960s drilling?

When looking at a map/section - start with the basics
  1. Scale - look to see if there is a grid or scale bar.
    • Quickly see how far apart the holes are located (50-100m)
    • How 'big' the massive sulfides are 
  2. Legend - this tells you the colors used for grades and rock types
    • check out the dark grey = no assay = Nothing of interest (i.e. no sulfides) in the core
  3. How consistent is the mineralization - does it link up between adjacent holes?
    • No, we get a few scratchy hits, with a small disseminated halo.
You need to ask yourself, can I, armed with a mighty No. 2 pencil (HB in the normal parts of the world), join the zones together?

here is an easy one for Garibaldi to do
I'm not an expert on Nickel deposits, but I've decided to annotate it, to highlight some interesting features and I've made a few observations.



So, how big are our massive sulfides?

They are soooooooo massive, that each one has just been hit 1 hole. Approximate dimensions:

  1. Big Boi - reamed by hole EL17-14 = 29m x 12m
  2. Old MoFo - penetrated by hole EL-17-03 = 2m x 91m
  3. Skinny Man - pricked by hole EL17-04 = 5m x 50m

So we have 3 small, inconsistent massive sulfide bodies, with minor disseminated sulfide halos.

So, after a disappointing press release, how can you save face, well, we needs to ask the FAG.

Hello FAG* here, I was disappointed that Garibaldi were defeated by unseasonable Northern Canadian weather. Who would have thought that they would have had snow this time of year in the Polar Riviera.

(*Fraudulent Angry Geologist)

I was very disappointed with Garibaldi's program, a true professional would have moved holes EL17-01 approx. 20m to the left, that would have hit >100m of disseminated sulfides, but they redeemed themselves with Hole EL17-14. So, if you are a company like Garibaldi, dedicated to not releasing any useful information, my advice is, have some fun, and really do to town on the drilling. Here is my idea:

Proposed holes in GREEN
Those 4 holes are beauts, multiple sulfide hits and nice and easy. OK, you're drilling the same areas 2-3 times, but we are searching for 'geological continuity' not drilling for resources. Chuck in a few words like, structural complexity, offsets and everyone will be happy and you'll get some decent hits to keep the shareholders happy.

If those dipshit geologists keep bleating, remember that with all that cash you raised, you can keep giving yourself a huge salary for the next 3-4 years, which is a happy thought.

Just a note to Dorian Leslie - your maps are great.

14 comments:

  1. That's brutally funny. Nice of them not to include the other holes, or historic holes, or the adit. That will surely come later, when Dorian has enough time to draw them in.

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    Replies
    1. Just a reply to the your post on CEO message board (and feel free to bash me). I said that the massive sulfide mineralization isn't closed off in ALL directions, it appears to be open to the north and east

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    2. Yes I did see that, and sorry. Maybe I should have been more clear that "closed off" is probably not the term to use when the dominant axes are probably still open. I mean, we don't say a vein that strikes east-west is closed off to the north or south? Obviously most magmatic sulfides aren't the same (though the layered ones can get close) so we still aren't getting to massive tonnage in the open directions. But it's possible assuming the other conditions are met (I don't know if they are, otherwise I would own the stock).

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    3. Exactly, the holes could have clipped an extreme edge of a much larger body. It is all semantics, and we only have a 2D view of the project at the moment. It will be interesting to see how hole EL-17-08 relates to the various sulfide zones.

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  2. That article is lowbrow and uninformative. What is with the fictional scenario that takes up half of the article? Talk about your strawman arguments. The company hit MS in its first set of 4 holes and your being snarky about their apparent size? From your professional view, what size of MS bodies should have been identified in the first 4 holes? Falling back on sarcasm and snark is a sure sign of emotion and a lack of anything intelligent to say.

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    Replies
    1. This is why I don't have a comments section. It attracts dumbasses like flies to excrement.

      (note i didn't say shit. Or fucking moronic dumbasses. I'd never swear on TAG's blog).

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    2. Don't play the slippery eel with us, TAG. We all know you're part of a pan-global cabal of trying to discredit the God-like Doctor Lightfoot and drive the share price down to the level your hedge fund backers require, then you're going to buy out the company for pennies on the dollar three days before it's confirmed as the next Voisey's Bay.

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    3. Daddy needs a new Ferrari, and I've asked Dan "Pump up the volume" Ameduri to work his magic.

      Delete
  3. Replies
    1. Voisey's Bay - 141 million tonnes at 1.61% Ni, so passé.

      Nickel mountain is so much better, its a flippin Mountain of Nickel. Shame that it is all 64Ni (none of that common 58Ni) and degrades before it can get assayed.....

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  4. "the Polar Riviera"...

    OMG... just getting into second gear on this and ::

    Nothing but smiles.

    Thank you. Straight through the new Ferrari.

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  5. Emotion and lack of anything intelligent to say confirmed, lol

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