Goliath Resources Ltd V.GOT

Alternate Symbol(s): GOTRF

Metals & Mining Industrial Metals & Minerals

Goliath Resources Ltd is a precious metals project generator focused in the prolific Golden Triangle and surrounding areas of northwestern British Columbia. The company operates through various projects comprising Lucky Strike, Copperhead, Bingo, Golddigger and DSM Projects.

TSXV:GOT - Post by User

Goliath Resources Ltd

<< Previous

Bullboard Posts

Next >>

Post by yukon_goldon May 19, 2023 1:36pm

750 Views

Post# 35456839

Goliath Mobilizes for 18,000M Drilling on Goldswarm Zone

Goliath Mobilizes for 18,000 Meters of Drilling Including Maiden Drill Program on Newly Discovered Goldswarm Zone at Golddigger Project, Golden Triangle, B.C.

The 2023 drill campaign includes 70 holes from 21 separate drill pad locations with four diamond drill rigs for a planned 18,000 meters.

This drilling/exploration season will focus on new discoveries and further upside potential

Expand the footprint and higher-grade mineralized areas of the Surebet Zone & Bonanza Shear.

Expand the footprint of the Surebet Extension to the northeast and southeast.

Maiden drill program at the Goldswarm Zone discovery 4 km along strike to the north of Surebet Zone having similar mineralization and structures exposed at surface where channel cuts assayed up to 29.70 g/t Au over 0.55 meters, 25.1 gpt Au over 0.40 meters and grabs up to 54.3 g/t Au.

Drill test Surebet’s extensive porphyry feeder source confirmed by Colorado School of Mines within the newly identified high-grade Golden Gate Feeder Zone where angular float samples assayed up to 924.4 g/t Au (29.7 oz/t Au), 3023 g/t Ag (97.19 oz/t Ag), 0.05% Cu, 12.59% Pb, 4.11% Zn.

Follow up exploration within the newly discovered mineralized Surebet Corridor for the development of new high-grade 2024 drill targets; currently an area of 8 km x 3.5 km that remains open.

New high priority targets for follow up in the Surebet Corridor providing additional upside for new discovery potential include:

Ace In The Hole, 509 ppb Au BLEG sampled (99 percentile), 4 km south on trend with the Surebet Zone.

Humdinger, 42.92 ppb Au BLEG sampled, 1,800 meters south across valley on trend with the Surebet Extension.

Sunrise, 42.74 ppb Au BLEG sampled, 2.3 km east of Goldswarm Zone.

Payday showing, 3 oz/t Au grab sample, 2.2 km west of Goldswarm Zone.

Jackpot showing, 44.9 g/t Au over 1 meter chip 4.6 km northeast of Goldswarm Zone.

Anaconda Vein 22.83 g/t AuEq over 2 meter channel with 2.3 km of strike and 600 meters of vertical relief, 15 km west of Surebet Zone.

Mastodon showing 11 g/t Au grab sample, 7 km west of Surebet Zone.

Surething - 5160 ppb Ag from BLEG, 4 km north of Goldswarm Zone.

Newly exposed outcrops at surface seen within the rapidly melting Icefields to the north and on trend of Surebet Zone along 53 km of the Red Line.

Surebet Highlights from 2021 & 2022:

89 of 92 (or 97%) widely spaced diamond drill holes over a 1.6 square kilometer area drilled in 2021 and 2022 intersected broad high-grade intervals of gold-silver mineralization confirming strong gold mineralization and demonstrating the continuity of this newly discovered large gold system that remains open.

273 AuEqgm result from drill hole GD-22-58 at South Cliff Stepout Pad contained Visible Gold and intersected 24.80 gpt AuEq (22.03 gpt Au and 127.62 gpt Ag) over 11.00 meters, including 38.70 gpt AuEq (34.42 gpt Au and 197.45 gpt Ag) over 7.00 meters and 44.47 gpt AuEq (39.60 gpt Au and 224.10 gpt Ag) over 6.07 meters*.

228 AuEqgm result from drill hole GD-21-03 at Cliff Pad intersected 6.37 gpt AuEq (4.46 gpt Au and 122.13 gpt Ag) over 35.72 meters, including 31.88 gpt AuEq (24.97 gpt Au and 458.1 gpt Ag) over 4.52 meters.

166 AuEqgm result from drill hole GD-22-49 at Pad A contained Visible Gold and intersected 21.30 gpt AuEq (20.46 gpt Au and 40.06 gpt Ag) over 7.77 meters, including 27.55 gpt AuEq (26.47 gpt Au and 51.551 gpt Ag) over 6.00 meters.

149 AuEqgm result from drill hole GD-22-100 at Pad 13 intersected 13.53 gpt AuEq (12.10 gpt Au and 54.13 gpt Ag) over 11.00 meters, including 24.56 gpt AuEq (21.98 gpt Au and 97.94 gpt Ag) over 6.00 meters.

139 AuEqgm result from drill hole GD-22-48 at North Rubble Pad intersected 12.61 gpt AuEq (6.98 gpt Au and 441.59 gpt Ag) over 11.00 meters, including 15.37 gpt AuEq (8.42 gpt Au and 537.57 Ag) over 9.00 meters.

10 out of 56 drill holes (~20%) from the Surebet Zone horizon intersected greater than 76 AuEqgm, inclusive of 5 drill holes (~10%) intersecting greater than 138 AuEqgm and up to 273 AuEqgm.

The current Surebet Zone and Bonanza Shear modeled areas are 5,500,000 m3 (Avg. 6.88 meters @ 6.31 g/t AuEq) and >13,000,000 m3 (Avg. 5.31 meters @ 2.7 AuEq) respectively.

Exceptional metallurgical recoveries of 92.2% Gold from gravity & flotation, inclusive of 48.8% Free Gold from gravity at a 327 micron crush; no deleterious minerals or cyanide required.

Colorado School of Mines has confirmed an extensive porphyry feeder source at depth for the high-grade gold-silver mineralising fluids at Surebet providing excellent potential for additional upside drill discovery and expansion at depth.

Based on 2022 positive grass roots exploration and drill results, Goliath significantly increased its land package from 23,859 hectares to 59,089 hectares, and now controls 56 kilometers of key terrain of the Red Line providing for additional upside discovery potential.

Mr. Roger Rosmus, CEO of Goliath states: “After many months of extensive and detailed planning in the off season, we are very pleased to have mobilized for another aggressive drill campaign this year at our high-grade gold-silver Golddigger Property. The newly discovered Surebet Zone has demonstrated to be a very robust system that is structurally controlled with exceptional continuity and associated with the expansive Bonanza Shear that remains open. We have identified several new strong drill targets focussed on where we believe are higher-grade zones as well as significantly expanding the footprint size of this system that remains open. This years drilling will also include a Maiden Drill program at our newly discovered Goldswarm Zone that is on strike with the Surebet discovery 4 km to the north that could potentially deliver another material drill discovery in 2023. It has similar geology and high-grade mineralized structures exposed at surface we see at Surebet. This years exploration campaign also includes developing new high-grade drill targets for 2024 with a focus on many newly seen outcrops popping up at surface within the icefields located in the northern region of our significantly expanded property area. These could provide for additional upside discovery potential in the years to come. The Golddigger Property is in a geo-political safe mining jurisdiction and key geologic setting where many world-class deposits have been discovered. We look forward to reporting our 2023 exploration and drilling results as they are received, compiled, and interpreted.”

Qualified Person Rein Turna P. Geo is the qualified person as defined by National Instrument 43-101, for Goliath Resource Limited projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release.

About Goliath Resources Limited Goliath Resources Limited is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia and Abitibi Greenstone Belt of Quebec. All of its projects are in world class geological settings and geopolitical safe jurisdictions amenable to mining in Canada.

For more information please contact: Goliath Resources Limited Mr. Roger Rosmus Founder and CEO Tel: +1-416-488-2887 roger@goliathresources.com www.goliathresourcesltd.com