Goliath Resources Ltd V.GOT

Alternate Symbol(s): GOTRF

Metals & Mining Industrial Metals & Minerals

Goliath Resources Limited is a Canada-based junior resource exploration company. The Company is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia and Abitibi Greenstone Belt of Quebec. The Company owns 100% of the Golddigger property that covers an area of 52,756 hectares. The Homestake Ridge Deposit (Fury Gold Mines Limited), Dolly Varden Silver Mine (Dolly Varden Silver Corp.), and the Kinskuch Project (Hecla Mining Company) are in close proximity. The Golddigger Property consists of contiguous mineral claims located approximately 30 kilometers southeast of Stewart with tidewater access on Hastings Arm in the Golden Triangle of Northern British Columbia. The Luckystrike Property is located 40 kilometers north of Terrace, British Columbia. The Company also owns a 10% interest in the DSM Syndicate projects. It has six mineral claim blocks under Goliath’s Nelligan East Project and Nelligan West Project.

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Goliath Resources Ltd

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Post by yukon_goldon Jul 18, 2024 9:10am

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Post# 36138051

Maiden Drill Program Underway at Goliath's Treasure Island

Maiden Drill Program Underway at Goliath's Treasure Island, Hosting Multiple Outcropping VMS Type Shear-Hosted Polymetallic Zones, Channels Up To 20.60 g/t Gold Over 0.85 Meters And Up To 14.45% Copper In Samples, Golddigger Cambria Icefields, Golden Triangle, B.C.

NEWLY DISCOVERED TREASURE ISLAND – HIGHLIGHTS OF DRILL TARGET:

The planned 2024 program at Treasure Island includes 11 holes from 4 drill pad locations with one diamond drill rig for 1,600 meters; additional drill holes will be designed based on mineralized intercepts.

Link to Icefields Original Discovery Video: Click Here

Treasure Island is located on Golddiggers Cambria Icefields claim blocks, 36 km north of the Surebet discovery, and only has recently been exposed due to the result of glacial retreat and permanent snowpack abatement (see map below).

Its located 6 km east of, and on trend with, the Porter Idaho mine classified as a polymetallic vein deposit and/or possible VMS deposit that was operational in the early 1900’s. (see map below).

The new Treasure Island discovery consists of multiple shear-hosted, polymetallic zones covering an area of approximately 550 by 450 meters and is NW-SE trending. The extent of mineralization is currently open in all directions.

Broad high-grade mineralized zones are up to 20 meters wide with sections of massive chalcopyrite and pyrite occupying shears and forming sulphide-rich mineralization at structural intersections and embayment zones within strongly folded and sheared mudstone, siltstone, and tuff units.

Channel samples collected assayed up to 20.60 over 0.85 meters or 28.08 gpt AuEq (20.60 gpt Au, 63.60 gpt Ag and 5.04 % Cu) (see images below).

Widespread grab and chip samples assayed up to 11.08 gpt AuEq (0.04 gpt Au, 126.00 gpt Ag and 7.15 % Cu); and 8.00 gpt AuEq (5.85gpt Au, 20.70 gpt Ag and 1.43 % Cu) (see images below).

A noteworthy 13 out of 19 grab and chip samples (68%) taken on Treasure Island over a wide area assayed >1.00 gpt AuEq..

An exceptional 15 out of 16 channel cuts (94%) assayed >1.00 gpt AuEq.

The new Treasure Island target demonstrates the excellent untapped potential for additional discoveries across the large Golddigger property, which encompasses 56 km of the “Red Line”, which is the name we use to describe a key geological contact between two regional stratigraphic packages (read more below – About Golddigger Property).

In the Golden Triangle the most important discoveries and mines are on either side of “Red Line” and within a 3 kilometers meters of either side. We consider this a critical exploration vector and the Golddigger project is within the sweet spot of the “Red Line.”

Toronto, Ontario – July 18, 2024 – Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report the maiden diamond drill program is underway at its newly discovered high-grade gold-copper Treasure Island outcropping mineralized target which remains open. Its located on the Cambria Icefields at its 100% controlled Golddigger Property (the “Property”), Golden Triangle, British Columbia.

Roger Rosmus, Founder and CEO of Goliath Resources, states: “We have been looking forward to drilling Treasure Island from the first time we saw this widespread outcropping target when flying over it in the helicopter. Once again, the team has done an excellent job finding this new highly mineralized drill target with massive sulphides in a vast sea of white and ground truthing it in preparation for its first ever drill program in 2024. The surface assay results, geology, geochemistry and its close proximity to the past producing Porter Idaho mine suggests it has all the makings of a VMS Eskay Creek type material discovery unlocking additional value to our shareholders. We look forward to announcing the assay results once received, complied and interpreted.”

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. Goliath is a member and active supporter of CASERM which is an organization represents a collaborative venture between Colorado School of Mines and Virginia Tech. Goliath’s key strategic cornerstone shareholders include Crescat Capital, Mr. Rob McEwen and Mr. Eric Sprott.