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 north of Terrace, British Columbia. The Company also owns a 10% interest in the DSM Syndicate projects. It has six mineral claim blocks, totaling 391 mineral claims, under Goliath's Nelligan East Project and Nelligan West Project.

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Post by yukon_goldon Jul 22, 2024 8:58am

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Post# 36142401

Goliath Intercepts 4 Zones totaling 105M with Abundant VG 📈

Goliath Intercepts 4 Zones Totaling 105 Meters Containing Abundant Visible Gold, Galena, Sphalerite, Molybdenite, Bismuth In Breccia, Stockwork And Porphyritic Intrusive Dyke – Remains Wide Open – Surebet, Golden Triangle B.C.

Drill Highlights

GD-24-237 intercepted abundant visible gold from 4 mineralized zones with Surebet style mineralization, the Bonanza Shear, Golden Gate Zone as well as a mineralized porphyritic intrusive dyke for an aggregate of 105 meters (assays are pending).

Collectively these four mineralized intervals equate to 105 meters of some of the strongest mineralization with the highest density of veining, stockwork and breccia observed to date in drill core from the property; the system remains wide open.

Link to 3D Model Video: Click Here

GD-24-237 represents a 111 meter step out from the main mineralized zone in GD-24-235 the first hole announced last week, which also intercepted the Bonanza Shear, Golden Gate and newly discovered Mothership Feeder Zone.

A 14.39 meter zone of altered porphyritic intrusive dyke, like that seen in GD-24-235 has been intercepted between 315.71 - 330.08 meters. It hosts multiple sheeted quartz veins and calc-silicate veins with albite/sericite alteration halos. Visible gold, molybdenite and trace bismuth was observed in veins at 316.05, 316.26, 326.10 meters and on vein margins.

Additionally, a 47 meter zone of the Bonanza Shear was intercepted from 425.00 - 472.00 meters with significant mineralized includes intervals characterized by intense quartz-sulphide stockwork and quartz veins between 5 and 15 cm thick with sphalerite (2%), pyrrhotite (1%), pyrite (2%), and minor galena hosted within the Lower Hazelton volcanic unit.

A second 16.6 meter interval zone of Bonanza Shear hosting dense sulphide-rich calc-silicate veining and stockwork was intersected from 508.4 - 526.00 meters containing sphalerite (1%) and galena (1%) with trace quantities of pyrrhotite and pyrite.

Drill hole GD-24-235 was designed to intercept the Bonanza shear and volcanics below where drill hole GD-23-197 from 2023 intersected 9 meters of 34.03 g/t AuEq or 1.09 oz/t AuEq (32.55 g/t Au and 65.71 g/t Ag) in 2023.

The mineralization observed in hole GD-24-235 from the 445.4 - 447.39 meter downhole interval is reminiscent of what was observed from 449.37 - 458.40 meters in GD-23-197, suggesting that similar gold grades can be expected from this interval; assays pending (see comparison image below).

A 26.35 meter interval attributed to Golden Gate from 546.65 – 573.0 meters, which represents a 300 meter step out to the north. It hosts a high-density of veins and stockwork with substantial amounts of sulphides intercepted, including sphalerite (1%), galena (1%) and containing sections of semi-massive pyrrhotite and trace pyrite. A 1.11 meter vein between 569.29 - 570.04 meters was intercepted that contained visible gold, sphalerite (1%), galena (1%), pyrrhotite (2%) and pyrite (1%).

Results from the first couple of drill holes confirm the strong potential for additional discovery during the 2024 drill program that has just began.

Several deeper drill holes are planned to test the system to greater depth including a 700 meter hole that is currently underway.

The drill program on Surebet is focused on testing the potential feeder source at depth above and below the valley floor, discovering new additional veins/shears, expanding the known 10 vein footprint, and increasing continuity of veins/shears.

Surebet Highlights:

Colorado School of Mines study confirmed an extensive intrusive feeder source at depth for the high-grade gold mineralising fluids at Surebet in their report, this provides excellent potential for additional upside discovery and expansion at depth (see About CASERM below).

Several lines of evidence, including metals content and geochemical trace elements hot spots, zonation, type, origin of fluids and age of the mineralization strongly suggests we are vectoring on an indicated porphyritic intrusive feeder source.

Exceptional continuity and excellent 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.

The Golddigger property is fully permitted until 2029 for 199 drill pads

66,930 meters have been drilled to date at the Golddigger property (2021 – 2023).

44 holes (or 35%) of 124 holes drilled in 2023 contained Visible Gold with nuggets up to 11 mm in size.

11 holes to date are greater than 100 and up to 513 gm AuEq.

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.

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.

10 mineralized vein horizons have been identified to date and remain open.

The mineralized footprint of the Surebet discovery corresponds to 1.8 km2, the equivalent in size to >336 NFL football fields.

Link to 3D Model Video: Click Here

Toronto, Ontario – July 22, 2024 – Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report four substantially mineralized intercepts in drill hole GD-24-237 of dense quartz-sulphide breccia, stockwork and veining containing abundant visible gold, galena, and sphalerite. Inclusive of an interval containing visible gold, molybdenite and trace bismuth in veins at 316.05, 316.26, 326.10 meters and on vein margins within a porphyritic intermediate dyke at Surebet on its 100% controlled Golddigger Property (the “Property”), Golden Triangle, B.C.

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.