Giga Metals provides Turnagain project update
Rhea-AI Summary
Giga Metals Corp. has received a report from Dr. Stephen Beresford regarding potential high-grade mineral targets within the Turnagain ultramafic complex. The company has extensive data from 383 drill holes totaling 97,361 meters, along with geochem and geophysical surveys, yet over 80% of the complex remains unexplored. Dr. Beresford identified several target types, including a potential Volkovsky type massive copper sulfide magnetite deposit in the Attic zone and semi-massive sulfide Brecia pipes within the Attic and Bench zones. The company is currently reprocessing historical magnetic survey data to better define the intrusive geometry and plan a gravity survey.
Positive
- Identification of new high-grade mineral targets within unexplored areas
- Potential discovery of valuable copper sulfide magnetite deposits
- 80% of complex remains unexplored, indicating significant growth potential
Negative
- None.
VANCOUVER, British Columbia, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Mark Jarvis, CEO of Giga Metals Corp. (TSX.V: GIGA, OTCQX: GIGGF) announced today that the company is in receipt of a report and exploration recommendations by Dr. Stephen Beresford regarding the potential for high grade mineral targets within the Turnagain ultramafic complex.
“We wanted to get fresh eyes on our data,” said Mr. Jarvis. “We have 383 drill holes totalling 97,361 meters, several geochem surveys and geophysical surveys, and other data, but more than
“My mandate was to evaluate the prospectivity of potential high grade targets within the mineralized system and to recommend an exploration program that would focus on these targets,” said Dr. Beresford. “My conclusion is that there are several target types in play. One important target is a potential Volkovsky type massive copper sulfide magnetite deposit in the Attic zone. Another target is semi massive sulfide Brecia pipes within the Attic and Bench zones, similar to Giant Mascot and Aguablanca. These and other target types should be evaluated with a gravity survey, ground based EM and drilling.”
Historical magnetic survey data is being reprocessed to better define the geometry of the intrusive and to help design a gravity survey.
About Giga Metals Corporation
Giga Metals Corporation’s core asset is the Turnagain Project, located in northern British Columbia, which contains one of the few significant undeveloped sulphide nickel and cobalt resources in the world. Turnagain is held in Hard Creek Nickel, a subsidiary owned
Technical information in this news release has been reviewed and approved by Greg Ross, PGeo, a Qualified Person as defined by NI 43-101.
On behalf of the Board of Directors of Giga Metals Corporation
“Mark Jarvis”
MARK JARVIS,
CEO
Contact Information
Office Phone: +1 (604) 681-2300
Investor Inquiries: info@gigametals.com
Company Website: www.gigametals.com
Forward Looking Statements
Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding the Turnagain Project. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target", "intend", "could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be "forward‐looking statements". Such statements in this news release include, but are not limited to, statements with respect to the potential for high grade mineral targets within the Turnagain Project and any future exploration of such targets. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views made in light of management's expertise and are based on certain expectations, estimates and assumptions which may prove to be incorrect.. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the results of further exploration and risks inherent in mining. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the Company's most recent Management's Discussion & Analysis filed on the Company's profile at www.sedarplus.ca.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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FAQ
What new mineral targets has Giga Metals (GIGGF) identified at the Turnagain project?
How much of the Turnagain complex remains unexplored by Giga Metals (GIGGF)?
What exploration activities is Giga Metals (GIGGF) currently conducting at Turnagain?
