Drill Highlights:
- GD-23-170 collared from Pad 16 intercepted numerous occurrences of Visible Gold, as well as strong sulphides mineralization in quartz-stockwork and veins corresponding with the
Bonanza Shear and Surebet Zone that remain wide open:- The Bonanza Shear interval consists of 9.40 g/t AuEq (9.33 g/t Au and 3.98 g/t Ag) over 7.00 meters including 12.74 g/t AuEq (12.66 g/t Au and 5.11 g/t Ag) over 5.15 meters and 19.81 g/t AuEq (19.71 g/t Au and 7.28 g/t Ag) over 3.30 meters;
The Surebet Zone interval consists of 5.01 g/t AuEq (4.83 g/t Au and 6.32 g/t Ag) over 5.00 meters including 6.25 g/t AuEq (6.03 g/t Au and 7.72 g/t Ag) over 4.00 meters (see images below); and- Assays are still pending on 100 holes diamond drilled in 2023 at the Golddigger Property.
- An accompanying infographic is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/43001583-9f69-4fe1-a24a-f6e72ecbcb5b
- An accompanying infographic is available at:
- GD-23-164 collared from Koala Pad intercepted multiple occurrences of Visible Gold and significant quartz-sulphide mineralization in veins and stockwork with galena, sphalerite, and pyrrhotite corresponding to the Bonanza Shear that remains wide open:
- The mineralized interval consists of 7.87 g/t AuEq (7.76 g/t Au and 6.59 g/t Ag) over 7.00 meters including 10.98 g/t AuEq (10.84 g/t Au and 8.72 g/t Ag) over 5.00 meters and 18.25 g/t AuEq (18.05 g/t Au and 13.22 g/t Ag) over 3.00 meters; and
- Located 130 meters to the Southwest of Pad A and 750 meters Southeast of Pad 16 confirmed bonanza grade continue to the Southwest of Pad A where high-grade gold mineralization containing 21.30 g/t AuEq (20.46 g/t Au and 40.06 g/t Ag) over 7.77 meters was intercepted in hole GD-22-49 from the 2022 drill season.
- GD-23-188 collared from Beaver Pad intercepted multiple occurrences of Visible Gold and quartz-sulphide mineralization in 2 significant mineralized intervals corresponding to the
Golden Gate Zone and a possible splay of the Bonanza Shear:- The Golden Gate interval consists of 4.57 g/t AuEq (2.61 g/t Au and 82.58 g/t Ag) over 4.15 meters including 5.70 g/t AuEq (3.26 g/t Au and 103.03 g/t Ag) over 3.32 meters;
- The Bonanza Shear splay interval consists of 3.28 g/t AuEq (2.95 g/t Au and 4.15 g/t Ag) over 2.00 meters; and
- Bever Pad is located 370 meters to the West of Pad A and 560 meters South of Pad 16 confirming and extending bonanza gold-grades observed in the
Golden Gate Zone , where drill hole GD-23-197 assayed 9 meters (~true width) of 34.03 g/t AuEq or 1.09 oz/t AuEq (32.55 g/t Au and 65.71 g/t Ag).
- GD-23-207 collared from Bear Pad intercepted multiple occurrences of Visible Gold and significant quartz-sulphide mineralization corresponding to the
Surebet Zone that remains open:- The intercept consists of 8.02 g/t AuEq (7.79 g/t Au and 10.79 g/t Ag) over 3.00 meters; and
- Bear Pad is located 200 meters to the West of Pad 16.
- GD-23-167 collared from Lion Pad intercepted Visible Gold and significant quartz-sulphide mineralization in an interval corresponding to the Bonanza Shear:
- The mineralized interval consists of 5.06 g/t AuEq (4.63 g/t Au and 17.95 g/t Ag) over 2.93 meters; and
- Lion Pad is located 650 meters to the West of Pad 16.
- GD-23-150 collared from Pad 16 intercepted Visible Gold and significant quartz-sulphide mineralization in an interval corresponding to the
Surebet Zone :- The mineralized interval consists of 3.42 g/t AuEq (3.29 g/t Au and 4.37 g/t Ag) over 5.00 meters.
- An accompanying infographic is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/a5456ef9-e5a9-4ac5-aa75-814cfb8af5ae
- An accompanying infographic is available at:
- The mineralized interval consists of 3.42 g/t AuEq (3.29 g/t Au and 4.37 g/t Ag) over 5.00 meters.
- Based on 2021-2022 drill assays and preliminary drilling results from 2023:
The Surebet Zone , hosted in the Hazelton Sediments now has 106 drill pierce points and modeled to be >5,500,000 m3 (Avg. 6.88 meters @ 6.31 g/t AuEq), it remains open;- The Bonanza Shear, hosted between the Hazelton Sediments and Volcanics now has 104 drill pierce points, and the model has been expanded from 13,000,000 m3 to >25,000,000 m3, it remains open;
- The newly discovered
Golden Gate Zone , hosted within the Hazelton Volcanics and 20 meters below the Bonanza Shear has been modelled to be >1,100,00 m3 and remains open, grade definition is dependent on pending assays; and - Base on results to date, management believes the average widths and/or grades of this system should increase once all assays are received, compiled, and interpreted from the 2023 drilling program.
- An accompanying infographic is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/66185daa-f76f-4a2b-a4e5-c85be68b9f60
- An accompanying infographic is available at:
- To date a total of 9 holes with >100 gm AuEq, 16 holes with > 75 gm AuEq and 21 holes with > 50 gm AuEq (corresponding to 17 % of reported holes) have been drilled.
- Accompanying infographics are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/9f55052b-89a0-4c75-b96d-24c1dfc96dd1
https://www.globenewswire.com/NewsRoom/AttachmentNg/ab441578-daf1-40a3-abdd-8d5463b740db
- Accompanying infographics are available at:
- 44 holes out of 124 holes drilled in 2023 on the Golddigger Property contain Visible Gold corresponding to 35% of the holes drilled.
- All the occurrences of Visible Gold to date have been consistently identified within quartz-breccia and veins in contact with or in close proximity to pyrrhotite, sphalerite and/or galena mineralization.
- Footprint of the
Surebet Zone has been expanded to 1.8 km2, the equivalent of in size to >336 NFL football fields containing multiple stacked bonanza-grade veins within 650 meters from surface and remains wide open with excellent additional discovery potential. - This original discovery has only received a total 10 months of boots on the ground in aggregate over the past three years during window of the exploration seasons.
- A study in collaboration with the
Colorado School of Mines has confirmed that the mineralization formed at 4-5 km below the paleo-surface, confirming the excellent additional discovery potential at depth. - To put the
Colorado School of Mines report into perspective, there is potential for up to 5-10 times the number of stacked veins below the already discovered system corresponding to 10 times the height of theCN Tower from top to bottom. - This original discovery has gone from idea to where it is today (>31,600,000 m3 of rock) with only 10 months in aggregate of boots on the ground, clearly demonstrating Surebet is a world class discovery, and we are likely only seeing the tip of the iceberg.
- Excellent infrastructure 7 km to road, 300-man camp on private property, deep water barge access only 190 km to international container port and rail, 25 km to high tension power.
- The discovery is modelled to be amiable to underground mining, no detrimental minerals present, environmentally friendly cost-effective mining with 92.2% gold recovery at a 327 micron crush inclusive of 48.8 % being free gold recoverable using simple gravity with no cyanide leaching required.
- Goliath has partnered with domain experts such as Dr.
Quinton Hennigh and Dr.Thomas Monecke from theColorado School of Mines . The Company has also partnered with consulting firms that includeSRK Consulting (Canada) Inc. ,Archer, Cathro & Associates (1981) Limited, andOriented Targeting Solutions LLC (OTS), to analyze an extensive array of geological datasets spanning drilling, mapping, drone photogrammetry and remote sensing data to interpret the presence of an Intrusion-Related Gold Deposit.
Drill hole GD-23-170 collared from Pad 16 intercepted numerous occurrences of Visible Gold, as well as sulphides mineralization in quartz-stockwork and veins corresponding with the
Drill hole GD-23-164 collared from Koala Pad, located 130 m southwest of Pad A, intercepted multiple occurrences of Visible Gold and significant quartz-sulphide mineralization in veins and stockwork with galena (up to 2 %), sphalerite (up to 1 %), and pyrrhotite (up to 3 %) corresponding to the Bonanza Shear that remains wide open. The mineralized interval consists of 7.87 g/t AuEq (7.76 g/t Au and 6.59 g/t Ag) over 7.00 meters including 10.98 g/t AuEq (10.84 g/t Au and 8.72 g/t Ag) over 5.00 meters and 18.25 g/t AuEq (18.05 g/t Au and 13.22 g/t Ag) over 3.00 meters. The gold-mineralization is associated with veins hosted in heavily altered siltstone and sandstone characterized by strong silicification and chloritization. Pyrrhotite with minor sphalerite and galena occur throughout inside of quartz veins and along patches of chlorite. Several veins containing specks of Visible Gold have been identified within the reported mineralized interval. The gold-mineralization in hole GD-23-164 confirmed and expanded the bonanza gold-grades to the Southwest of Pad A, where high-grade gold mineralization containing 21.30 gpt AuEq (20.46 gpt Au and 40.06 gpt Ag) over 7.77 meters was intercepted in hole GD-22-49 from the 2022 drill season.
Drill hole GD-23-188 collared from Beaver Pad, located 370 meters west of Pad A, intercepted multiple occurrences of Visible Gold and quartz-sulphide mineralization in two significant mineralized intervals corresponding to the
Additional holes of note reported in this news release include GD-23-207 collared from Bear Pad, 200 m to the West of Pad 16, intercepted 8.02 g/t AuEq (7.79 g/t Au and 10.79 g/t Ag) over 3.00 meters. GD-23-167 collared from Lion Pad, 650 meters to the West of Pad 16, intercepted 5.06 g/t AuEq (4.63 g/t Au and 17.95 g/t Ag) over 2.93 meters, and GD-23-150 collared from Pad 16 intercepted 3.42 g/t AuEq (3.29 g/t Au and 4.37 g/t Ag) over 5.00 meters.
The footprint of the
This original discovery has gone from idea to where it is today (31,600,000 m3 of rock) with only 10 months of aggregate time of boots on the ground over the last 3 exploration seasons, clearly demonstrating Surebet is a world class discovery, and we are likely only seeing the tip of the iceberg. Assays are pending on 100 holes drilled on the Golddigger property in 2023.
Table 1: Selected 2023 Golddigger drill hole assay results.
Pad ID | Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) | Cu (%) | Pb (%) | Zn (%) | AuEq (g/t) | |
Pad 16 | GD-23-170 | Interval | 89.00 | 92.00 | 3.00 | 3.51 | 14.31 | 0.01 | 0.29 | 0.15 | 3.86 |
Including | 90.00 | 92.00 | 2.00 | 5.26 | 20.30 | 0.01 | 0.43 | 0.21 | 5.75 | ||
Including | 90.00 | 90.91 | 0.91 | 11.40 | 43.00 | 0.02 | 0.94 | 0.44 | 12.43 | ||
Interval | 329.00 | 334.00 | 5.00 | 4.83 | 6.32 | 0.01 | 0.09 | 0.17 | 5.01 | ||
Including | 330.00 | 334.00 | 4.00 | 6.03 | 7.72 | 0.01 | 0.11 | 0.21 | 6.25 | ||
Interval | 367.00 | 371.05 | 4.05 | 3.35 | 6.78 | 0.01 | 0.05 | 0.50 | 3.66 | ||
Including | 367.00 | 370.19 | 3.19 | 4.22 | 8.20 | 0.01 | 0.07 | 0.63 | 4.60 | ||
Including | 368.11 | 370.19 | 2.08 | 6.39 | 11.50 | 0.01 | 0.10 | 0.96 | 6.96 | ||
Interval | 527.00 | 534.00 | 7.00 | 9.33 | 3.98 | 0.01 | 0.01 | 0.02 | 9.40 | ||
Including | 528.00 | 533.15 | 5.15 | 12.66 | 5.11 | 0.01 | 0.00 | 0.02 | 12.74 | ||
Including | 529.00 | 532.30 | 3.30 | 19.71 | 7.28 | 0.00 | 0.00 | 0.03 | 19.81 | ||
Including | 530.00 | 532.30 | 2.30 | 27.91 | 9.95 | 0.00 | 0.01 | 0.03 | 28.04 | ||
Koala | GD-23-164 | Interval | 7.00 | 14.00 | 7.00 | 7.76 | 6.59 | 0.01 | 0.01 | 0.04 | 7.87 |
Including | 8.00 | 13.00 | 5.00 | 10.84 | 8.72 | 0.01 | 0.01 | 0.05 | 10.98 | ||
Including | 9.00 | 12.00 | 3.00 | 18.05 | 13.22 | 0.01 | 0.00 | 0.08 | 18.25 | ||
Including | 10.00 | 12.00 | 2.00 | 26.85 | 18.99 | 0.00 | 0.00 | 0.10 | 27.12 | ||
Beaver | GD-23-188 | Interval | 72.00 | 74.00 | 2.00 | 2.95 | 4.15 | 0.01 | 0.01 | 0.69 | 3.28 |
Including | 73.00 | 74.00 | 1.00 | 5.78 | 7.94 | 0.01 | 0.02 | 1.36 | 6.44 | ||
Interval | 188.00 | 192.15 | 4.15 | 2.61 | 82.58 | 0.02 | 1.96 | 0.70 | 4.57 | ||
Including | 188.00 | 191.32 | 3.32 | 3.26 | 103.03 | 0.02 | 2.45 | 0.87 | 5.70 | ||
Including | 189.00 | 191.32 | 2.32 | 4.64 | 147.03 | 0.03 | 3.51 | 1.24 | 8.12 | ||
Including | 189.00 | 190.15 | 1.15 | 8.99 | 294.00 | 0.04 | 7.05 | 2.18 | 15.82 | ||
Bear | GD-23-207 | Interval | 289.00 | 292.00 | 3.00 | 7.79 | 10.79 | 0.00 | 0.15 | 0.10 | 8.02 |
Lion | GD-23-167 | Interval | 295.00 | 299.00 | 4.00 | 3.40 | 13.28 | 0.01 | 0.07 | 0.30 | 3.71 |
Including | 296.07 | 299.00 | 2.93 | 4.63 | 17.95 | 0.01 | 0.09 | 0.41 | 5.06 | ||
Including | 296.07 | 297.85 | 1.78 | 7.60 | 28.77 | 0.01 | 0.14 | 0.67 | 8.27 | ||
Including | 296.07 | 297.00 | 0.93 | 9.65 | 41.90 | 0.01 | 0.16 | 0.59 | 10.45 | ||
Pad 16 | GD-23-150 | Interval | 281.00 | 286.00 | 5.00 | 3.29 | 4.37 | 0.01 | 0.02 | 0.12 | 3.42 |
Including | 283.62 | 286.00 | 2.38 | 6.51 | 6.83 | 0.02 | 0.04 | 0.17 | 6.69 | ||
Including | 283.62 | 285.05 | 1.43 | 10.35 | 10.97 | 0.02 | 0.07 | 0.27 | 10.64 | ||
Including | 284.34 | 285.05 | 0.71 | 17.35 | 16.10 | 0.03 | 0.10 | 0.50 | 17.82 | ||
Quoll | GD-23-111 | Interval | 31.00 | 36.00 | 5.00 | 1.41 | 0.87 | 0.01 | 0.00 | 0.01 | 1.44 |
Including | 32.00 | 34.00 | 2.00 | 3.42 | 0.97 | 0.01 | 0.00 | 0.01 | 3.44 | ||
Including | 33.00 | 34.00 | 1.00 | 6.66 | 1.55 | 0.01 | 0.00 | 0.01 | 6.69 | ||
Bear | GD-23-179 | Interval | 485.00 | 487.00 | 2.00 | 3.27 | 0.52 | 0.01 | 0.01 | 0.02 | 3.29 |
Including | 485.00 | 486.00 | 1.00 | 6.14 | 0.71 | 0.01 | 0.01 | 0.02 | 6.17 | ||
Lion | GD-23-149 | Interval | 258.00 | 261.00 | 3.00 | 0.61 | 17.50 | 0.00 | 0.39 | 0.98 | 1.35 |
Including | 259.00 | 261.00 | 2.00 | 0.91 | 26.05 | 0.01 | 0.59 | 1.46 | 2.01 | ||
Including | 259.00 | 260.00 | 1.00 | 1.74 | 23.70 | 0.01 | 0.60 | 2.87 | 3.38 | ||
Bear | GD-23-194 | Interval | 407.00 | 410.00 | 3.00 | 1.17 | 2.52 | 0.01 | 0.01 | 0.06 | 1.24 |
Including | 408.00 | 409.00 | 1.00 | 3.22 | 5.85 | 0.01 | 0.02 | 0.14 | 3.37 |
Table 2: Collar information for the drill hole reported in this news release.
Drillhole ID | Easting | Northing | CRS | Azimuth | Dip | Length (m) |
GD-23-207 | 457571 | 6162454 | NAD83 UTM Z9N | 200 | 80 | 554 |
GD-23-194 | 457570 | 6162455 | NAD83 UTM Z9N | 185 | 55 | 538 |
GD-23-188 | 457628 | 6162263 | NAD83 UTM Z9N | 325 | 55 | 299 |
GD-23-179 | 457570 | 6162454 | NAD83 UTM Z9N | 134 | 60 | 544 |
GD-23-170 | 457499 | 6162787 | NAD83 UTM Z9N | 130 | 55 | 543 |
GD-23-167 | 456880 | 6162838 | NAD83 UTM Z9N | 130 | 65 | 363 |
GD-23-164 | 457858 | 6162339 | NAD83 UTM Z9N | 340 | 60 | 191 |
GD-23-150 | 457498 | 6162787 | NAD83 UTM Z9N | 105 | 55 | 591 |
GD-23-149 | 456880 | 6162838 | NAD83 UTM Z9N | 30 | 60 | 438 |
GD-23-111 | 458018 | 6162453 | NAD83 UTM Z9N | 30 | 85 | 350 |
Golddigger Property
The Golddigger Property is 100 % controlled covering an area of an area of 61,685 hectares (152,427 acres) and is in the world class geological setting of the Eskay Rift within
It is in an excellent location close in proximity to the communities of
The city of
Institutional Market Making Services Engaged
Goliath has retained
In addition, the Company has entered into sponsorship agreements with
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Other
Oriented HQ-diameter or NQ-diameter diamond drill core from the drill campaign is placed in core boxes by the drill crew contracted by the Company. Core boxes are transported by helicopter to the staging area, and then transported by truck to the core shack. The core is then re-orientated, meterage blocks are checked, meter marks are labelled, Recovery and RQD measurements taken, and primary bedding and secondary structural features including veins, dykes, cleavage, and shears are noted and measured. The core is then described and transcribed in MX DepositTM. Drill holes were planned using Leapfrog GeoTM and QGISTM software and data from the 2017-2022 exploration campaigns. Drill core containing quartz breccia, stockwork, veining and/or sulphide(s), or notable alteration are sampled in lengths of 0.5 to 1.5 meters. Core samples are cut lengthwise in half, one-half remains in the box and the other half is inserted in a clean plastic bag with a sample tag. Standards, blanks and duplicates were added in the sample stream at a rate of 10%.
Grab, channels, chip and talus samples were collected by foot with helicopter assistance. Prospective areas included, but were not limited to, proximity to MINFile locations, placer creek occurrences, regional soil anomalies, and potential gossans based on high-resolution satellite imagery. The rock grab and chip samples were extracted using a rock hammer, or hammer and chisel to expose fresh surfaces and to liberate a sample of anywhere between 0.5 to 5.0 kilograms. All sample sites were flagged with biodegradable flagging tape and marked with the sample number. All sample sites were recorded using hand-held GPS units (accuracy 3-10 meters) and sample ID, easting, northing, elevation, type of sample (outcrop, subcrop, float, talus, chip, grab, etc.) and a description of the rock were recorded on all-weather paper. Samples were then inserted in a clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. QA/QC samples including blanks, standards, and duplicate samples were inserted regularly into the sample sequence at a rate of 10%.
All samples are transported in rice bags sealed with numbered security tags. A transport company takes them from the core shack to the ALS labs facilities in
The reader is cautioned that grab samples are spot samples which are typically, but not exclusively, constrained to mineralization. Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are not intended to be representative of the material sampled.
About
Goliath Resources Limited is an explorer of precious metals projects in the prolific
For more information please contact:
Mr.
Founder and CEO
Tel: +1.416.488.2887
roger@goliathresources.com
www.goliathresourcesltd.com
Widths are reported in drill core lengths and the true widths are estimated to be 80-90% and AuEq metal values are calculated using: Au
Neither the
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Goliath’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the ability of the Company to complete financings and its ability to build value for its shareholders as it develops its mining properties. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Goliath. Although such statements are based on management's reasonable assumptions, there can be no assurance that the proposed transactions will occur, or that if the proposed transactions do occur, will be completed.
The forward-looking information contained in this release is made as of the date hereof and Goliath is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in
The securities referred to herein have not been and will not be will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within
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