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Giga Metals issued an updated NI 43-101 mineral resource estimate on its Turnagain Project

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The updated resource estimate increased the Measured plus Indicated resources by 24% to 1.07 billion tonnes, while contained nickel increases by 28.3% to 5.2 billion pounds. Not only have the Measured plus Indicated resources grown due to the infill drilling, but the Inferred resources have also grown because the volumes of the ultimate conceptual pit have grown.

Additional Information:

Company: Giga Metals Corp.
Website: http://www.GigaMetals.com
Stock Symbol: TSXV: GIGA
Date Published: Sep 19, 2019
Transcript: Available

Video Transcript:

I’m Nadika Viswakula for Investmentpitch Media

Giga Metals Corp., has issued an updated NI 43-101 mineral resource estimate on its Turnagain Project, where the company is focused on metals critical to modern batteries, especially those used in Electric Vehicles and Energy Storage.

The Turnagain Project, located in northern British Columbia, contains one of the few significant undeveloped sulphide nickel and cobalt resources in the world.

The new resource estimate is based on an additional 36 infill drill holes totaling 8,940 metres drilled in 2018 in the areas of the conceptual open pit described in a Preliminary Economic Assessment dated December, 2011, and by updated geological modeling supported by core logs, rock geochemistry, mapping, alteration modeling and other information.

The updated resource estimate increased the Measured plus Indicated resources by 24% to 1.07 billion tonnes, while contained nickel increases by 28.3% to 5.2 billion pounds

Not only have the Measured plus Indicated resources grown due to the infill drilling, but the Inferred resources have also grown because the volumes of the ultimate conceptual pit have grown.

Mark Jarvis, President and CEO, stated: "The updated mineral resource estimate for the Turnagain Project represents an important milestone in the path towards advancing the engineering studies of this project. The successful execution of a focused drilling campaign combined with updated geological modeling has resulted in a refined and enhanced mineral resource estimate that, within the first three phases of mining outlined in the 2011 PEA, has confidence levels sufficient to support a Pre-Feasibility study and ultimately a Feasibility study if that is justified."

Management believes the project offers good terrain for open pit mining.

The company offers exploration upside with copper, platinum, and palladium targets in the Attic zone, with less than 25% of the nickel prospective geology having been drilled.

The shares are trading at $0.40.

For more information, please visit the company’s website www.GigaMetals.com, contact Mark Jarvis, President and CEO, at 604-681-2300 or email info@GigaMetals.com.

I’m Nadika Viswakula for Investmentpitch Media