| Goliath Starts Drilling With Two Rigs Testing Surebet Feeder Source And Magnitude, Plus Three New Outcropping High-Grade Au-Cu Targets At Golddigger Property, Golden Triangle, B.C. | | | The 2024 planned drill campaign at the Golddigger Property includes 62 holes from 22 drill pad locations with up to three diamond drill rigs for 15,000 meters. | | | | The Surebet Discovery will see the bulk of meters planned with the balance testing three new highly mineralized gold-copper outcropping targets: Jackpot, Treasure Island and Full Contact that have the potential to provide additional upside catalysts for shareholders (see drill location map below). | | Surebet Discovery | | Surebet’s meters will be focused on testing its potential feeder source at depth below the valley floor, discovering new additional veins/shears, expansion of the known 10 vein footprint, and increased continuity (see vein model below). | | | | Surebet highlights previously reported include: | 44 holes (or 35%) of 124 holes drilled in 2023 contained Visible Gold with nuggets up to 11 mm in size; Best hole drilled to date is GD-23-180 assaying 65.00 g/t AuEq (64.88 g/t Au and 8.03 g/t Ag) over 7.90 meters, including 86.99 g/t AuEq (86.84 g/t Au and 6.52 g/t Ag) over 5.90 meters; 11 holes to date are greater than 100 and up to 513 gm AuEq; 6 new vein horizons identified that could potentially increase economical tonnage that remain open; The mineralized footprint of the Surebet discovery has been expanded to 1.8 km2, the equivalent in size to >336 NFL football fields; Mineralization is exposed at surface for 1.0 kilometers of strike and 1.1 kilometers down-dip extent with 700 meters of vertical relief with exceptional continuity; Several lines of evidence, including metals and geochemical trace elements hot spots, zonation, type, origin of fluids and age of the mineralization strongly suggest vectoring in on possible Porphyry Feeder Source; Goliath has diamond drilled 66,930 meters to date at the Golddigger property (2021 – 2023). | | | Detailed surface mapping of the Surebet area also has played a major role in clearly defining the structural controls on the veins and consequently the gold and higher copper mineralization (see map below). | | Three Maiden Drill Programs Of High-Grade Gold-Copper Targets: Jackpot, Treasure Island and Full Contact | | Jackpot (Surebet) drill target, highlights previously reported include: | Samples assayed 21.5 oz/ton AuEq or 667.40 g/t AuEq (636.00 g/t Au, 1,690.00 g/t Ag, 7.96 % Cu, 2.22 % Pb) and comes from a 30 cm wide quartz vein with 15 % chalcopyrite, 7 % pyrite, and 1 % galena; Mineralization is hosted in a vein/shear comprised of strongly silicified Porphyritic Andesite within the Hazelton Volcanics; This high-grade gold-copper discovery consists of at least 10 shear hosted quartz-sulphide veins within a 15 meter wide stockwork that extends for 50 meters along strike before being covered by overburden on either side, it remains open; Multiple high-grade gold-copper samples have been collected within 150 meters of the new Jackpot outcrop believed to be related include Y607977 that assayed 44.40 g/t Au, 1,629.00 g/t Ag, 5.22 % Cu, 2.24% Pb, Y607989 that assayed 13.50 g/t Au, 32.10 g/t Ag, 0.09 % Cu, 0.42 % Pb and ST112903 that assayed 8.43 g/t Au, 694.00 g/t Ag, 0.39% Cu, 0.47 % Pb; The outcropping stockwork of veins are near vertical and strike north-south hosted within a broader shear zone that can be traced for more than 500 meters with 400 meters of vertical relief and remains open; The newly discovered Jackpot outcrop is believed to be connected to the Surebet Discovery as its proximal containing bonanza grades with similar textures, mineralogy, and geochemistry all within the volcanics. | | | Treasure Island (Golddigger Cambria Icefields) drill target, highlights previously reported include: | Located on the Cambria Icefields, 36 km north of the Surebet Discovery; Channel samples collected assayed up to 28.08 g/t AuEq (20.60 g/t Au, 63.60 g/t Ag and 5.04 % Cu) over 0.85 meters; and 3.54 g/t AuEq (0.13 g/t Au, 23.96 g/t Ag and 2.34 % Cu). Widespread grab and chip samples collected assayed up to 11.08 g/t AuEq (0.04 g/t Au, 126.00 g/t Ag and 7.15 % Cu); and 8.00 g/t AuEq (5.85g/t Au, 20.70 g/t Ag and 1.43 % Cu); A noteworthy 13 out of 19 grab and chip samples (68%) taken over a widespread area assayed >1.00 g/t AuEq and up to 8.4 % Cu; An exceptional 15 out of 16 channel cuts (94%) assayed >1.00 g/t AuEq and up to 14.4 % Cu; This high-grade copper-silver-gold discovery consists of multiple shear-hosted, polymetallic zones covering an outcropping area of approximately 550 by 450 meters and is NW-SE trending; This new drill target demonstrates the excellent untapped potential for additional discoveries across the large Golddigger property, which encompasses 56 km of the “Red Line” which has the most important discoveries and mines within a few thousand meters on either side of it. | | | Full Contact (Golddigger Cambria Icefields) drill target, previously reported highlights include: | Located on the Cambria Icefields, 19 km northwest of the Surebet Discovery; Samples assayed up to 101.13 g/t AuEq (3.25 oz/t) (101.00 g/t Au and 10 g/t Ag) and 1 % Cu, and it remains open; This new discovery consists of a 1.4 km trend on the “Red Line” within which are multiple gossans; A 70 meter zone of mineralized quartz veins and breccia that remains open in all directions has been identified in the immediate surroundings of the 101.13 g/t AuEq sample; Mineralization consists primarily of pyrite, with lesser arsenopyrite and sphalerite disseminated within silicified zones, concentrating in veins and fractures; Shares the same geological setting and alteration as the Bonanza Shear, part of the Surebet Discovery with mineralization forming around the volcanic-sedimentary units contact; This new drill target demonstrates the excellent untapped potential for additional discoveries across the large Golddigger property, which encompasses 56 km of the “Red Line” which has the most important discoveries and mines within a few thousand meters on either side of it. | Additional Highlights Previously Reported: | | Exceptional metallurgical recoveries of 92.2% Gold from gravity & flotation, inclusive of 48.8% Free Gold from gravity alone 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 positive grass roots exploration and drill results, Goliath significantly increased its land package from 23,859 hectares to 66,608 hectares (164,592 acres), and now controls 56 kilometers of key terrain of the Red Line providing for additional upside discovery potential | | | | Goliath has completed a total of 66,930 meters of diamond drilling to date at the Golddigger Property (2021 – 2023) | | | | The Golddigger Property is very close to the town of Kitsault that has a permitted mill site on private property, additional infrastructure is nearby and it sits on tidewater with barge access to Prince Rupert (190km south). | | Toronto, Ontario – July 8, 2024 – Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report drilling has commenced with two rigs at its 100% controlled Golddigger Project for a planned 15,000 meters. The 2024 drilling campaign will be focused on the high-grade gold Surebet Discovery testing its potential feeder source below the valley floor in the Hazelton Volcanics and area of magnitude. In addition, there will be three maiden drill programs testing high-grade gold-copper showings that are outcropping over an extensive area. The Golddigger property is on tide water in a world class geological setting near Stewart, in the Golden Triangle of British Columbia. The Homestake Ridge Deposit & Dolly Varden Silver Mine (Dolly Varden Silver Corp.), and the Kinskuch Project (Hecla Mining Company) are in close proximity. The maiden drill campaign in 2021 totaling 5,338 meters intercepted significant widths and gold mineralization in 100% of the holes drilled. To date there has been an aggregate of 66,930 meters drilled that include the follow up campaigns in 2022 and 2023 at the Golddigger Property. In 2023, there was a 97% success hit rate as 86 holes of 92 totaling intercepted significant widths of high-grade gold over a 1.8 square kilometer area at Surebet. This 1.8 square kilometer area also has mineralization exposed at surface for 1.0 kilometers of strike, 1.1 kilometers down-dip extent with 700 meters of vertical relief with exceptional continuity. Dr. Quinton Hennigh, Technical and Geologic Director of strategic shareholder, Crescat Capital, commented: "As I watch exploration stories unfold over time, I generally find that the projects that continually generate better and better results are the ones that ultimately deliver high quality discoveries that become successful mines. The Golddigger project is a classic example. Goliath is about to embark on its fourth season of drilling. Looking back, it has been a remarkably productive journey. While the Surebet lode itself was a great discovery that yielded strong drill results, more and more exciting discoveries soon followed including the Golden Gate and Bonanza lodes. Now, not only will the Company follow up drilling these robust lodes, it has a whole host of new targets to test...Jackpot, Treasure Island and Full Contact. I think this year should be full of exciting new discoveries." | About Goliath Resources Limited Goliath Resources Limited is an explorer of precious metals projects in the prolific Golden Triangle area 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. Goliath has key strategic cornerstone shareholders that include Crescat Capital, Mr. Rob McEwen and Mr. Eric Sprott. | Link to Complete News Release: 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 Goliath Resources Limited Mr. Roger Rosmus
Founder and CEO
roger@goliathresources.com
https://goliathresourcesltd.com | |