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Goliath Resources Ltd V.GOT

Alternate Symbol(s):  GOTRF

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.


TSXV:GOT - Post by User

Post by yukon_goldon Sep 26, 2024 10:10am
141 Views
Post# 36242060

Goliath upsizes placement from $15,725,500 to $16,120,500

Goliath upsizes placement from $15,725,500 to $16,120,500

 

 

Goliath Upsizes Non-Brokered Private Placement From $15,725,500 To $16,120,500

 

Toronto, Ontario – September 26, 2024 – Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to announce it has increased the previously announced non-brokered flow through financing from $15,725,500 to $16,120,500.

Offering Details

The non-brokered private placement is a combination of: (i) Charity Flow-Through shares (CFT) to be sold at a price of $1.975 each with no warrant and the Flow-Through shares (FT) to be sold at a price of $1.44 each with no warrant. These shares will qualify as a flow-through share within the meaning of Subsection 66(15) of the Income Tax Act (Canada).

The first tranche closed on September 13, 2024 that consisted of 3,018,000 CFT shares for proceeds of $5,960,550 and 2,501,221 FT shares for proceeds of $3,601,758 for aggregate proceeds of $9,562,308. The final tranche is scheduled to close on October 2, 2024.

The Company intends to use the proceeds for exploration related programs on its properties located in and around the Golden Triangle of northwestern British Columbia.

 

Goliath’s New Surebet Discovery Of A High-Grade Gold System and Company Highlights:

• Strategic cornerstone shareholders include Crescat Capital, Mr. Larry Childress (post current funding), Mr. Rob McEwen, Mr. Eric Sprott and a Global Commodity Group, Singapore.

• Located in a geopolitical safe mining friendly jurisdiction within a world class geological setting of the Golden Triangle, British Columbia, Canada and has excellent infrastructure including the town of Kitsault built by Phelps Dodge in the 70's at ~C$50 million cost that can house up to 300 people; Camp Goliath - Kitsault (Click Here)

• Next to the old Kitsault Mine, a permitted brownfield mine site on private property, which is located on the BC Hydro grid with road access to the Nass Valley and tidewater access to Prince Rupert.

• Surebet’s mineralization can be seen at surface for 1.0 kilometers of strike and 1.1 kilometers down-dip extent appears to continue below the valley floor with 700 meters of vertical relief that has exceptional continuity; the more it gets drilled the bigger the system gets based on results to date.

• 66,930 meters have been drilled to date at the Golddigger property (2021 – 2023) + ongoing ~36,000 meters in 2024 with the vast majority of holes targeting the Surebet Discovery with a 100% success rate..

• The gold mineralization has excellent metallurgical recoveries of 92.2% Gold from gravity and flotation, including 48.8% free gold from gravity alone at a 327 micron crush; no deleterious minerals or cyanide required.

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

• Best hole to date is GD-23-180 assaying 86.99 g/t AuEq (86.84 g/t Au and 6.52 g/t Ag) over 5.90 meters.

• Highest concentration of visible gold in drill core and 66% of the holes contain visible gold (Sept 3/24 news)

• 2024 drilling has outlined the Bonanza High-Grade Gold Triangle (assays pending) within the Surebet Discovery measuring 410 x 612 x 720 meters with holes assaying over 1 oz/t Gold up to 9 meters ~true width; remains open (Click Here).

• The system has exceptional continuity of the gold mineralization that is predictable with our geological team having a strong understanding of the system.

• Drilling thus far shows a majority of the coarser grain visible gold seen up to 11 mm in size is hosted further downhole near or within the volcanics and still above the valley floor; system remains open.

• Deeper drill holes tested near and below the valley floor in 2024 has intercepted 4 new mineralized horizons with one containing visible gold 460 meters below the valley floor; gold mineralization remains wide open in all directions for further new discoveries.

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

• 10 gold 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 and remains wide open.

 

Goliath’s New Treasure Island Discovery, VMS Style High-Grade Gold & Copper Highlights:

• Treasure Island is a 500 x 450 meter mineralized outcrop of high-grade gold-copper that has all the indications of another potential material discovery for Goliath ~40 kms north of the Surebet Discovery on the Golddigger Property.

• A maiden drill program was completed in 2024, totaling 2,938 meters drilled, 12 holes and from 4 pad locations.

• Certain drill holes from each pad location averaged 29.99 meters wide of mineralization, inclusive of 6.79 meters of moderate, semi-massive and massive sulphide mineralization in quartz-sulphide breccia.

• Drill hole number TI-24-01 is comparable to what was observed in a surface channel cut, which assayed 28.08 gpt AuEq (20.60 gpt Au, 63.60 gpt Ag and 5.04 % Cu) over 0.85 meters and confirms the continuity of the system at depth (Click Here).

Company Presentation Link (Click Here)

Complete News Release: (Click Here).

Follow us on LinkedIn: Click Here

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Goliath Resources Limited

Mr. Roger Rosmus
Founder and CEO
roger@goliathresources.com
https://goliathresourcesltd.com

 
 

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