 | | Goliath Intercepts 10.94 gpt AuEq Over 9.70 Meters in the Bonanza Shear Significantly Increases Volume and Average Grade of the Multi-Layered High-Grade Surebet Gold System | Drill Highlights: SUREBET ZONE HIGHLIGHTS The mineralization model has been updated with the latest assay results, increasing the average grade by 43%, and a 24 % increase in volume, from 5,500,000 m3 volume at 6.31 gpt AuEq (previously reported) to a volume of the Surebet Zone to 6,800,000 m3 with an average grade of 9.04 gpt AuEq, which remains open. The Surebet Zone, hosted in the Hazelton Sediments, has been intersected in 106 drill holes to date with broad intervals of quartz-sulphide mineralization, 92% of which have intersected gold mineralization. GD-23-220 intersected the Surebet Zone and assayed 13.24 gpt AuEq (10.05 gpt Au and 154.71 gpt Ag) over 5.10 meters, including 21.74 gpt AuEq (16.51 gpt Au and 253.41 gpt Ag) over 3.10 meters. | GD-23-221 intersected the Surebet Zone and assayed 7.91 gpt AuEq (7.44 gpt Au and 22.40 gpt Ag) over 7.15 meters within 4.43 gpt AuEq (4.16 gpt Au and 12.87 gpt Ag) over 13.00 meters. | GD-23-221 intersected the Surebet Zone and assayed 7.91 gpt AuEq (7.44 gpt Au and 22.40 gpt Ag) over 7.15 meters within 4.43 gpt AuEq (4.16 gpt Au and 12.87 gpt Ag) over 13.00 meters. | GD-23-130 intersected the Surebet Zone and assayed 4.66 gpt AuEq (3.53 gpt Au and 55.29 gpt Ag) over 5.70 meters, including 6.25 gpt AuEq (5.12 gpt Au and 55.36 gpt Ag) over 3.70 meters. Multiple drill holes (previously reported) with high-grade gold-silver mineralization intersected the Surebet Zone including GD-23-157 assaying 21.08 g/t AuEq (18.95 g/t Au and 95.31 g/t Ag) over 23.00 meters; and GD-23-173 assaying 14.68 g/t AuEq (5.81 g/t Au and 719.13 g/t Ag) over 26.89 meters. | BONANZA SHEAR HIGHLIGHTS The mineralization model has been updated with the latest assay results and the calculated potential volume of the Bonanza Shear is >15,000,000 m3 with an average grade of 8.14 gpt AuEq and remains open, corresponding to a 200 % increase in grade and a 15% increase in volume (from 13,000,000 m3 at 2.71 gpt AuEq). The Bonanza Shear, hosted at the contact between the Hazelton Sediments and Volcanics has been intersected in 104 drill holes to date with broad intervals of quartz-sulphide mineralization, 84% have intersected gold mineralization. GD-23-113 intersected the Bonanza Shear and assayed 10.94 gpt AuEq (10.80 gpt Au and 6.24 gpt Ag) over 9.70 meters, including 17.63 gpt AuEq (17.42 gpt Au and 9.51 gpt Ag) over 6.00 meters and 34.85 gpt AuEq (34.47 gpt Au and 17.48 gpt Ag) over 3.00 meters. | GD-23-217 intersected the Bonanza Shear and assayed 11.55 gpt AuEq (11.47 gpt Au and 5.77 gpt Ag) over 5.00 meters, including 57.41 gpt AuEq (57.10 gpt Au and 24.80 gpt Ag) over 1.00 meters. | GD-23-119 intersected the Bonanza Shear and assayed 13.82 gpt AuEq (13.70 gpt Au and 9.77 gpt Ag) over 4.00 meters, including 16.67 gpt AuEq (16.53 gpt Au and 11.38 gpt Ag) over 3.00 meters. | GD-23-140 intersected the Bonanza Shear and assayed 7.30 gpt AuEq (7.20 gpt Au and 5.74 gpt Ag) over 7.20 meters, within 4.04 gpt AuEq (3.97 gpt Au and 3.46 gpt Ag) over 11.00 meters. | GOLDEN GATE ZONE HIGHLIGHTS The mineralization model has been updated with the latest assay results and the calculated potential volume of the Golden Gate Zone is >1,100,000 m3 with and average grade of 3.94 gpt AuEq and remains open. The newly discovered Golden Gate Zone, hosted within the Hazelton Volcanics and 20 meters below the Bonanza Shear has been intersected in 12 drill holes with broad intervals of quartz-sulphide mineralization, all or 100% have intersected gold mineralization. GD-23-133 intersected the Golden Gate Zone and assayed 4.96 gpt AuEq (4.76 gpt Au and 5.76 gpt Ag) over 7.85 meters, including 9.89 gpt AuEq (9.53 gpt Au and 10.80 gpt Ag) over 3.85 meters. GD-23-183 intersected the Golden Gate Zone and assayed 4.61 gpt AuEq (4.51 gpt Au and 3.35 gpt Ag) over 3.50 meters and 6.55 gpt AuEq (6.26 gpt Au and 8.67 gpt Ag) over 3.00 meters. GD-23-140 intersected the Golden Gate Zone and assayed 6.15 gpt AuEq (6.00 gpt Au and 4.72 gpt Ag) over 3.00 meters. GD-23-197 (previously reported) intersected the Golden Gate Zone and assayed 11.60 gpt AuEq (11.07 gpt Au and 23 gpt Ag) over 27 meters, including 14.83 gpt AuEq (14.17 gpt Au and 29.13 gpt Ag) over 21.00 meters and 34.03 gpt AuEq or 1.09 oz/t AuEq (32.55 gpt Au and 65.71 gpt Ag) over 9 meters. | PROPERTY HIGHLIGHTS Updated Model | Surebet - 2023 Completed Drilling | To date, a total of 11 holes are >100 up to 513 gm AuEq (5% of all holes drilled), 18 holes are >75 up to 99 gm AuEq (8% of all holes drilled), 30 holes are >50 up to 74 gm AuEq (13% of all holes drilled), 66 holes are >25 up to 44 gm AuEq (28% of all holes drilled), and 139 holes are >10 up to 24 gm AuEq (59% of all holes drilled). 44 holes out of 124 holes drilled in 2023 on the Golddigger Property contain visible gold corresponding to 35 % of the holes drilled. Footprint of the Surebet discovery has been expanded to 1.8 km2, the equivalent in size to >336 NFL football fields that contain multiple extensive stacked bonanza-grade veins within 650 meters from surface that have been tested to date. It remains wide open with excellent additional discovery potential with only an aggregate of 12 months boots on the ground to date. Several lines of evidence, including metals and geochemical trace elements, zonation, type, origin of fluids and age of the mineralization strongly suggest a Porphyry Feeder Source at play. A study in collaboration with the Colorado School of Mines has confirmed that the mineralization formed at 4-5 km below the paleo-surface and extensive Porphyry Feeder source that provides excellent additional discovery potential at depth. To put this 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 the CN Tower from top to bottom. This original discovery has gone from target generation to where it is today modeled at >22,900,000 m3 of rock averaging 7.74 gpt AuEq with only 12 months 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 including 48.8 % free gold recoverable using simple gravity, balance recovered using flotation with no cyanide leaching required. Assays are still pending for the exploration surface samples taken from Golddigger’s Cambria Ice Fields claim blocks. | Toronto, Ontario – January 9, 2024 – Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is excited to report assay results for the remaining 99 new drill holes from the Surebet Discovery at its 100% controlled Golddigger Property (the Property”), Golden Triangle, British Columbia. The vast majority of reported holes intersected broad intervals of significant quartz-sulphide mineralization and widespread gold-silver mineralization expanding the volume and average grade of the Surebet Zone, Bonanza Shear and Golden Gate Zone, all of which remain open. Roger Rosmus, Founder and CEO of Goliath Resources, states: “I would like to congratulate our team on an exceptional 2023 drilling season and thank our shareholders for their ongoing support. After only 3 drilling seasons and only 12 months in aggregate of boots on the ground, our Golddigger project is clearly evolving as a new World-Class discovery in the prolific Golden Triangle region of British Columbia. With our aggressive drilling campaign in 2023, we were able to dramatically increase the volume of rock in our current model of the Surebet, Bonanza and Golden Gate Zones totalling 22,900,000 m3 with an average grade of 7.74 g/t AuEq, that remains open. Our geological team continues to be impressed with the widespread gold mineralization with excellent continuity and predictability in the Surebet and Bonanza Zones. We were also delighted with the high-grade gold hits in the Golden Gate Zone, a game changer event for the project because until this season all the drilling was in the sediments and contact between the volcanics. The Golden Gate Zone is our newest discovery and is very exciting as it is in the Hazelton volcanics immediately below the sediments. To see the gold mineralization continue beyond the sediments into the volcanics is extremely positive as we look forward to continuing to expand on this discovery in 2024. Making the new discovery in the volcanics gives us a clear path to chase the high-grade gold potential at depth to continue exploring for the heat engine (porphyry?) that caused the gold mineralization at Surebet, Bonanza and the Golden Gate zones. We strongly believe that our Golddigger project is emerging as one of the most important gold discoveries in the Golden Triangle. To think that until recently this project was covered by glaciers and due to them receding our team was the first to ever see the mineralization, then follow it up with exceptional drilling results is very rewarding as high-grade grassroots gold discoveries are a rare event in gold exploration”, Mr. Rosmus further stated, "Management is currently considering all options to unlock the full value of the extensive new land package of the Golddigger property comprising 25 km of the Red Line containing multiple new discoveries, as well as the 100% controlled Bullseye Au-Cu porphyry target on the Luckystrike property, by potentially spinning-off these assets into a new 100% owned company by Goliath to add additional value to our stakeholders. We believe 2024 will be the best year to date for Goliath." For the complete press release (Click Here) | 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 the Golden Triangle of British Columbia and within 3 kilometers of the ‘Red Line’ that is host to multiple world class deposits. The Surebet discovery has exceptional metallurgy with gold recoveries of 92.2% inclusive of 48.8% free gold from gravity alone at a 327-micrometer crush (no deleterious elements and no cyanide required to recover the gold based on metallurgical work completed to date). Its is in an excellent location close in proximity to the communities of Alice Arm and Kitsault where there is permitted mill site on private property. It is situated on tide water with direct barge access to Prince Rupert (190 kilometers via the Observatory inlet/Portland inlet). The town of Kitsault is accessible by road (190 kilometers from Terrace, 300 kilometers from Prince Rupert) and has a barge landing, dock, and infrastructure capable of housing at least 300 people, including high-tension power. Additional infrastructure in the area includes the Dolly Varden Silver Mine Road (only 7 kilometers to the East of the Surebet discovery) with direct road access to Alice Arm barge landing (18 kilometers to the south of the Surebet discovery) and high-tension power (25 kilometers to the East of Surebet discovery). The city of Terrace (population 16,000) provides access to railway, major highways, and airport with supplies (food, fuel, lumber, etc.), while the town of Prince Rupert (population 12,000) is located on the west coast and houses an international container seaport also with direct access to railway and an airport with supplies. | 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. | For the complete press release (Click Here) | 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
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