Garibaldi Resources Corp. (GGI, TSX-V) Expands The Grizzly, Covers Three Sides Of Doubleview
Exactly what this market needs – the Sheslay Valley Cu-Au porphyry play has become a fast-moving, exciting story with sudden twists and turns and prolific possibilities… Doubleview Capital Corp. ( DBV, TSX-V ) shot up nearly 50% yesterday as investors are increasingly grasping the significance of DBV’s recently announced drilling discovery at the Hat Property…
This morning, Garibaldi Resources Corp. ( GGI, TSX-V ) pulled its own “rabbit out of the hat” by announcing a major expansion of its Grizzly Property including the very interesting acquisition of the Hat East and Hat East 2 claims from a private landholder…how Garibaldi was able to pull that one off, we may not know until the book is written on the Sheslay Valley Copper- Gold Rush…in any event, besides also announcing an “aggressive” 2014 exploration program including drilling at the Grizzly, Garibaldi has now positioned itself just 1 km to the east of the Hat Property, and of course the Grizzly was already contiguous to the southern border of the Hat and the lower parts of the western border…
Garibaldi’s acquisition of the Hat East and Hat East 2 claims will “stir up the pot” in the Sheslay Valley and accelerate the land grab in what could easily develop into a multi-deposit scenario over many kilometres given what appears to be a very “pregnant” district featuring all the classic geological and geophysical signatures seen in other major systems to the south and southeast…
If It Looks Like A Duck, Quacks Like A Duck, It’s A Duck
The Sheslay Valley is right on trend with world class deposits, current and past producing mines in the prolific northwest portion of this mineral-rich province…what’s amazing is that it has taken this long for the Sheslay Valley to start to shine…but the main property of interest up until last year (the Sheslay) was simply in the wrong hands for a decade, holding back exploration activity in the region…of course that all changed last summer when Bernier’s Brigade arrived on the scene and optioned the Sheslay from Firesteel Resources Inc. ( FTR, TSX-V )…
We’ve written extensively about the quality of Prosper Gold Corp.’s ( PGX, TSX-V ) Sheslay Property where five porphyry targets have been identified to date, four of them within a 12 sq. km area; recently, we emphasized the significance of Doubleview’s discovery holes at the Hat (widely spaced, continuity of mineralization and increasing grades at depth) about 9 km southeast of Prosper’s most advanced target (the Star)… DBV President and CEO Farshad Shirvani showed courage, conviction and vision by drilling a series of holes during challenging market (and weather) conditions, and making a discovery that could turn the company into a magical “rags to riches” story – he is to be congratulated; this morning, Garibaldi stepped up to the plate again to remind investors that it’s about to take a big swing at what could be the monster in this whole system, the Grizzly (in reality, any one of these three companies could be sitting on the “motherlode” – drilling will determine that of course)…
1. Scale does matter and the Grizzly is huge – now 262 sq. km, nearly four times the size of the Sheslay and seven times the size of the Hat;
2. The Grizzly hosts an important “heat engine” – the Mount Kaketsa pluton, and rests in the middle of an apparently robust system in between Teck Resources Ltd. , Prosper Gold and Doubleview ;
3. “Multiple targets” (known mineral occurrences with coincident anomalies) have been identified over a whopping 15 km corridor stretching from Grizzly West to Grizzly Central;
4. Garibaldi has been systematically exploring the Grizzly for several years in preparation for the right drill program at the right time – their odds of success are unusually high, in our view, given their intimate knowledge of the Grizzly and the fact they’ve been able to assess drilling and other data from adjoining properties.
Knowing how prolific the Stikine Arch is, the question regarding the Sheslay Valley in our view is not whether it hosts a Cu-Au porphyry deposit – the question is how many might there be, how big and where exactly are they?…some important clues are beginning to emerge, but it’s still very early in the game…we’re convinced this is going to become an old-fashioned, rip-roaring, British Columbia area play that will breathe new life into the junior exploration market after three very difficult years…much more next week in a special updated report we’re preparing…
Sheslay Valley Updated Area Map
This is the latest Area Map of the Sheslay Valley, released this morning by Garibaldi Resources. Expect more staking and "deal making" by existing and potential new players in the coming days.
Doubleview Capital Corp. (DBV, TSX-V) Updated Chart
Doubleview is in all-time high territory , which can create some special dynamics, and closed above a Fib. resistance level at 23 cents yesterday as shown in this 3-year weekly chart from John…from a technical perspective, it’ll be revealing to see how DBV reacts around that Fib. level the rest of today and if it becomes new support… DBV is off half a penny at 24.5 cents as of 7:50 am Pacific after dipping as low as 22 cents…
