| 18,000 METERS OF DRILLING UNDERWAY AT GOLIATH’S EXTENSIVE NEW HIGH-GRADE GOLD-SILVER DISCOVERY IN THE 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; inclusive of a Maiden Drill Program at newly discovered Goldswarm Zone. | | | 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 new Goldswarm Zone discovery with 650 meters of vertical relief and 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 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. | | Dr. Quinton Hennigh, Geologic/Technical Director to Crescat Capital, a strategic shareholder of Goliath commented: “This year, Goliath will be implementing a well-designed drill program geared toward grade and growth. One of the main focuses of this season’s drilling will be to better delineate and expand high-grade mineralization discovered last year around the eastern side of the Surebet Zone and Bonanza Shear. More information from these areas could contribute substantially to the future mineral resource estimate for the project. Chasing mineralization towards its presumed source at the Golden Gate Feeder Zone is also in the cards. In addition, the Company will undertake maiden drilling at new targets like Goldswarm where outcropping mineralization simulate to Surebet was discovered last year. Lastly, Goliath’s team will conduct intensive boots-on-the-ground work flushing out new targets in areas were early level geochemical sampling points to further discovery potential, especially in the northern part of the Golddigger Project. I am thoroughly excited to see the program begin and am eager to be on site to see the project myself in a few weeks.” Mr. Roger Rosmus, CEO of Goliath states: “We very pleased that drilling has commenced for another aggressive 2023 drill campaign of 18,000 meters at Golddigger. This years campaign will include a maiden program at our newly discovered mineralized Goldswarm Zone having 650 meters of vertical relief and on strike with the Surebet discovery 4 km to the north that could potentially deliver another material drill discovery on the property. 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. 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 this years exploration and drilling results for a combined total of 20,000 meters in 2023 from the Golddigger and Lucky Strike properties.” | 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 |
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