| GOLIATH EXPONENTIALLY EXPANDS FOOTPRINT OF THE SUREBET HIGH-GRADE GOLD SYSTEM - DISCOVERS FOUR NEW MINERALIZED ZONES THAT REMAIN WIDE OPEN - GOLDEN TRIANGLE, B.C. | 2023 Exploration Highlights: The Kahuna, Outpost, Humdinger and Full House Zones, are 4 newly discovered areas consisting of strongly sulphide-mineralized veins and shear-zones directly connected to the Surebet on the Golddigger property and remain open. Three of them have been slated to be drill tested this 2023 season (see map below). | Kahuna Zone: A new 600 meter strike extension of the mineralized Bonanza Shear 2 kilometers to the northeast of the Surebet Zone along the eastern part of the North Slope. Within the Kahuna zone, two additional new polymetallic quartz-sulphide veins were discovered with up to 10-meter-wide blow-outs containing abundant galena, sphalerite, and chalcopyrite This zone remains open and will be drill tested in 2023 (see video and map below). | Kahuna Zone Video Link: Click Here | Outpost Zone: Multiple polymetallic quartz-sulphide veins, stockworks, and breccias have been discovered within sedimentary and volcanic rocks located 5 kilometers to the southeast of the Surebet Zone. These veins and breccia zones have been traced over 700 meters in outcrop and range between 5 and 50 meters in thickness and remain open. Exploration is underway in preparation for 2023 drilling (see video and map below). | Outpost Zone Video Link: Click Here | Humdinger Zone: | | The Bonanza Shear was traced for 400 meters on surface southeast of the Surebet Zone and extended towards the west through the Real Deal Zone and projected to continue 1.5 kilometers south across the valley under the new Humdinger Zone. This zone is characterized by multiple polymetallic quartz-sulphide veins and stockwork with a width of approximately 3 meters in the west and increases in width to over 20 meters in the east that remain open in both directions. The new Humdinger Zone will be drill tested during the 2023 season (see map below).** | *Lower Surebet on Real Deal Fault: The Bonanza Shear was traced for 400 meters on surface southwest of the Surebet Zone and extends south along Real Deal. This zone is characterized by Surebet style mineralization within multiple polymetallic quartz-sulphide veins and stockwork with a width up to 8 meters and remains open in both directions. The new Lower Surebet Zone is ready and will be drill tested during the 2023 season (see map below).* | Humdinger Zone Video Link: Click Here | Full House Zone: Multiple polymetallic quartz-sulphide veins and shear zones with similar Surebet-style mineralization were discovered within a quartz-diorite intrusion located 5 kilometers northwest of the Surebet Zone. The stack of mineralized veins and shear zones has an average width of 5 to 10 meters, channel samples on Payday up to 3 ounces per tonne gold and remains open. Full House is a drill target for 2024 (see map below). | Full House Zone Video Link: Click Here | | | Mineralization in the 4 newly discovered zones consists of Surebet-style quartz-sulphide breccias, stockworks and veins with variable amounts of semi-massive to massive, stringers and veinlets of galena, sphalerite and pyrrhotite greatly expanding the footprint of this gold system. | | | The mineralized shear zones and veins discovered at Kahuna, Full House, Outpost and Humdinger have widths of up to 50 m meters and extend on surface for up to 2.5 kilometers. | | | The Bonanza Shear has been expanded to the northeast by 1.1 kilometers (outcropping on the western side of the North Slope at Kahuna), south by 1.4 kilometers (across the valley from Pad A at Humdinger) and southeast by 2.4 kilometers (along the main creek that drains from Surebet at Outpost). | | | More than 75 new targets with excellent additional discovery potential were generated on the Golddigger property based on geochemical data, geophysical surveys, structural maps, satellite imagery and satellite spectral alteration data, that will be prospected mapped and sampled during the 2023 season in preparation for drilling. | | | A number of new targets have been identified on the recently staked claims on the Cambria Icefields located between Surebet and Stewart and are already showing early signs of a strong mineralizing system at play. | | | Prospecting and mapping are ongoing on the entire property which encompasses 56 km of the Red Line in an area where recent snowpack and glacial abetment has provided extensive zones of newly exposed outcrop in a world-class geological setting (see map below). | | | | With a total of just over 8 months of boots on the ground on the Golddigger property to date, including the current season, we are likely just seeing the tip of the iceberg. | | Toronto, Ontario – August 14, 2023 – Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report the discovery of 4 new strongly mineralized zones directly connected to the Surebet mineralizing system at its 100% controlled Golddigger Property (the “Property”), Golden Triangle, B.C. The new discoveries considerably increase the size of the Surebet mineralizing system and include the Kahuna, Outpost, Humdinger and Full House Zones, which consist of Surebet-style polymetallic quartz-sulphide veins and shears exposed at surface for up to 1.3 kilometers and up to 20 meters wide. Prospecting and mapping are ongoing on the entire property which covers 56 km of the Red Line in an area where recent snowpack and glacial abetment has provided extensive zones of newly exposed outcrop in a world-class geological setting. Kahuna Zone
Exploration, prospecting, and mapping in the newly discovered Kahuna Zone has delineated a new 600-meter strike extension of the Bonanza Shear defining the contact between sedimentary and volcanic units 2 kilometers to the Northeast of the known Surebet Zone along the eastern part of the North Slope. Within the zone, two additional new polymetallic quartz-sulphide veins were discovered with up to 10-meter-wide blow-outs above and below the Bonanza Shear that extend for over 100 meters strike and dips gently to the southwest containing abundant galena, sphalerite and chalcopyrite in the form of semi-massive disseminations, stringers and veinlets. These veins together with the Bonanza Shear currently remain open and will be drill tested with a series of newly designed holes for the 2023 season at the Kahuna Zone. | Kahuna Zone Video Link: Click Here | Outpost Zone
The new Outpost Zone is located 5 kilometers to the southeast of the Surebet Zone 3 kilometers to the west of, and on trend with, the Humdinger Zone. In 2023 multiple polymetallic quartz-sulphide veins, stockworks, and breccias have been discovered within sedimentary and volcanic rocks. Mineralization in these veins consists of disseminations, seams and semi-massive sections of galena, sphalerite, arsenopyrite, pyrite and pyrrhotite trending northeast - southwest. On the new Postman Creek showing, a 50-meter-wide polymetallic quartz-sulphide stockwork with considerable amounts of galena, sphalerite, chalcopyrite, pyrite and pyrrhotite was discovered within an andesite unit. The Postman Creek showing is currently being prepared to be drill tested during the 2023 season. Four (4) additional large and extensive polymetallic quartz-sulphide breccias with parallel vein sets have been discovered in sedimentary units. Individual vein and breccia sets have been traced over 700 meters in outcrop and range between 5 and 20 meters in thickness containing notable volumes of galena, sphalerite, arsenopyrite, pyrite and pyrrhotite, and remain open. Current exploration consisting of channel cutting, prospecting, and mapping is underway to prepare the site to be drill tested in 2023. | Outpost Zone Video Link:
Click Here | Humdinger Zone To the southeast of the Surebet Zone below Pad A, the Bonanza Shear was traced for 400 meters on surface towards the west through the Real Deal Zone and projected to continue 1.5 kilometers south across the valley under the new Humdinger Zone. The new Humdinger Zone is characterized by multiple polymetallic quartz-sulphide veins and stockwork with abundant galena, sphalerite, and chalcopyrite occurring as strong disseminations, larger blebs and clots, concentrating in fractures or along bedding planes. The newly discovered mineralized vein and stockwork zones have been traced in bedrock exposures for 1.3 kilometers and dip gently to the south. The zone has a width of approximately 3 meters in the west and increases in width to 20 meters in the east. The new Humdinger Zone is ready and will be drill tested during the 2023 season with a series of holes designed to intersect the Humdinger Zone and the underlying projected Bonanza Shear (see video and map below). Lower Surebet Zone on Real Deal
The Bonanza Shear was traced for 400 meters on surface towards the west then south along the Real Deal. The new Lower Surebet Zone on Real Deal is characterized by Surebet-style mineralized polymetallic quartz-sulphide veins, breccia and stockwork with abundant galena, sphalerite, and chalcopyrite occurring as strong disseminations, larger blebs and clots, concentrating along the sheared contact of the volcanic below and the folded sedimentary units above. The zone is up to 8 meters wide. The new Lower Surebet Zone is ready and will be drill tested during the 2023 season with a series of holes designed to intersect Bonanza Shear (see video and map below). | Humdinger Zone Video Link: Click Here | Full House Zone Multiple polymetallic quartz-sulphide veins and shear zones with similar Surebet-style mineralization were discovered within a quartz-diorite intrusion located 5 kilometers northwest of the Surebet Zone. The stack of mineralized veins and shear zones has an average width of 5 to 10 meters, channel samples on Payday up to 3 ounces per tonne gold and remains open. Full House is a drill target for 2024 (see video below). | Full House Zone Video Link: Click Here | 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 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 | Complete News Release: Click Here 3D Model Video of High-Grade Gold-Silver Surebet Zone & Bonanza Shear: Click Here Goliath's B.C. Properties Presentation - June 19 2023: Click Here | Follow us on LinkedIn: Click Here Follow us on Facebook: Click Here Follow us on Twitter: Click Here Follow us on YouTube: Click Here | |