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Red Lion

Size

7,500 hectares

Location

North-Central B.C.

Status

Option for 100%

Red Lion Property
The highlight prospective and yet-to-be drilled 75 sq. km Red Lion Property is located in the heart of a mineral rich district.
The highlight prospective and yet-to-be drilled 75 sq. km Red Lion Property is located in the heart of a mineral rich district.

Red Lion:  A Strategic Asset In North-Central B.C.  

Extensive geophysical and surface sampling programs carried out by Garibaldi at the Red Lion, in addition to compilation and contouring of historical soil sampling results from the RL Ridge target area, have revealed a 10-km-long northwest-southeast-trending mineralized corridor at this 100%-owned copper-gold project in north-central B.C.’s dynamic Quesnel trough. The Red Lion “Corridor” is parallel to the Omineca mining road and power lines to Kemess that strategically pass through the property claims.

The Red Lion, never previously drilled, was gradually expanded to 75 sq. km from the original 35 sq. km acquired by Garibaldi in early 2014. The property is drill ready and contiguous to Centerra Gold’s Kliyul Project to the south.  The Kemess mine is located approximately 60 km to the northwest and is underlain by the same lithological units as the Red Lion.

The Red Lion Corridor:

There are three major target areas along the Red Lion Corridor:

  • An extensive copper-in-soil anomaly at the RL Ridge target stretches northwest-southeast for 4.2 km and east-west for 400 meters to 800 meters within a broader anomaly up to 1.7 km wide.
  • Parallel to the east of this large geochemical anomaly is a 2.4-km-long induced polarization chargeability high, open to the north and south, that continues up slope from the Omineca road. The IP high coincides with anomalous copper-gold rock, soil and stream sediment results along with a magnetic high that is known to be underlain by a diorite to a monzodiorite intrusive in a largely overburden-covered area (RL East target).
  • A second chargeability high, 1.8 km long, is located fewer than 2 km northwest of RL Ridge at the RL West target and also coincides with anomalous copper-gold rock, soil and stream sediment results and a magnetic high underlain by a diorite intrusive.

Chip Samples Return 37.5 g/t Au, 13.6% Cu, 0.55% Co

Significantly, the four chip samples at RL West with the highest measured chargeability were associated with abundant pyrite and assayed the highest grades in gold, copper and cobalt. Those values ranged from 1.07 g/t Au to 37.5 g/t Au, 0.21% Cu to 13.6% Cu, and anomalous Co to 0.55% Co. Extensive outcropping exists at RL West, and numerous areas have yet to be sampled. The fact that the chargeability high appears to be related to sulphides carrying mineralization is extremely encouraging.

The IP chargeability highs at Red Lion are similar to those measured at the adjoining Kliyul Property.  

Geology

The Red Lion property is underlain by Upper Triassic Takla Group rocks comprising a lower unit of volcaniclastic sedimentary rocks overlain by volcanic breccias and flows. These units are intruded by various intrusive suites, and copper and gold mineral occurrences are typically associated with Late Triassic monzodioritic plutons and their related dikes. North-northwest trending faults have been mapped on the property and strongly-developed jointing has been noted with north-northwest and northeast orientations. 

Potential

Steve Regoci, Garibaldi President and CEO, commented: “The Red Lion has proven to be an exceptional acquisition that we picked up at the right price at a low point in the resource sector. The quality of these targets that have been systematically identified over a 10-km-long corridor speaks to the Red Lion’s exciting exploration upside.  Surrounding infrastructure and the prolific nature of the Quesnel trough district make the Red Lion even more compelling. We are currently examining all options to unlock the full value of this significant asset for Garibaldi shareholders.”  

July 2019 Red Lion Assessment Report


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