Goliath Resources Ltd V.GOT

✅✅Goliath To Drlll Two New Targets At Lucky Strike✅✅

[yukon_gold]

Goliath To Drlll Two New Targets At Its Lucky Strike Property In B.C., Including Maiden Drilling Of Outcropping High-Grade Gold Breccia Zone

GOLDSOURCE HIGH-GRADE GOLD BRECCIA ZONE - ~1,000 Metres Maiden Diamond Drilling, Highlights:

The Goldsource Zone is a high-grade gold breccia that is a drill ready target that shows all the right components for an extensive gold mineralizing system including surface mineralization, textures, and alteration that remains open in all directions.

The Goldsource main zone consists of a series of high-grade surface outcrops over 500 metres containing polymetallic quartz hydrothermal breccia with galena and chalcopyrite where grabs assayed up to 96.8 g/t Au (3.4 oz/t Au) and 78.10 g/t Ag.

The Goldsource drill target is located within a corridor of sheeted mineralized veins that extends for more than 1,500 metres along an E-W trend, over 200 metres wide and remains open.

Alteration signature derived from satellite spectral data on Goldsource shows strong hematite, silica, jarosite and phyllic alteration over an extensive area, confirming strong potential for gold mineralization.

The gold mineralized hydrothermal breccia geologically sits within the Quock formation Hazelton Volcanics in close proximity of the Red Line in a World Class geologic setting.

Airborne magnetic data identified a circular feature that is 1 kilometre in diameter and centered around the Goldsource drill target hydrothermal breccia.

BULLSEYE GOLD-COPPER PORPHYRY – ~1,000 Metres Diamond Drilling, Highlights:

The Bullseye porphyry is a drill ready target that shows all the right components for an extensive gold-copper porphyry mineralizing system including surface mineralization, textures, and alteration, and remains open in all directions; located ~14 km north of the Goldsource high-grade gold breccia zone drill target.

The Bullseye porphyry is a target consisting of coarse-grained intrusive units with mineralization, textures and potassic alteration (including K-Feldspar). Multiple Au-Cu mineralized grab samples were collected from the Bullseye drill target and assayed up to 3.06 g/t Au, 1.8 g/t Ag and 1% Cu.

The Bullseye target area has been mapped on surface defining a large 1,200 x 1,000 metre alteration system. The area contains a quartz-sericite-pyrite (QSP) core that is coincident with molybdenite-chalcopyrite mineralization. Independent interpretations of subsurface geophysical data concluded it is consistent with a porphyry signature.

The age of the intrusive with porphyritic texture at the Bullseye discovery has been confirmed as Mid-Cretaceous, in contrast with the Eocene age of other known porphyries in this belt.

Multiple high-grade gold rich polymetallic Au, Ag, Cu veins are radiating from the porphyry centre, where grabs assayed up to 21.3 g/t Au and 31.5 g/t Ag.

The most prolific gold in placer creeks in the district with coarse nuggets of over 6 ounces gold drain the Bullseye porphyry and related polymetallic veins in the margin.

The alteration pattern observed at the Bullseye drill target coincides with the top part of a porphyry system with strong concentric propylitic alteration surrounding a core of potassic and phyllic alteration bordered by domains of argillic alteration.

The Lucky Strike property is located within a larger known porphyry belt and ~100 km south of its 100% controlled Golddigger property.

Toronto, Ontario – May 24, 2023 – Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (Frankfurt: B4IF) (the “Company” or “Goliath”) is pleased to report that it will be diamond drilling ~2,000 metres at its 100% controlled Lucky Strike property. There are two new separate high-grade mineralized gold targets exposed at surface that remain open and never drilled before. Goliath will be drilling up to 20,000 metres in 2023 inclusive of this drill campaign and the 18,000 metres planned at its 100% controlled Golddigger property.

The Lucky Strike property covers 31,486 hectares just north of Terrace, British Columbia and ~100 km south of its 100% controlled Golddigger property. These new drill targets at Lucky Strike were found through follow-up prospecting and mapping that also helped identify several other strong gold prospects for follow up exploration that could result in additional high-grade drill targets for 2024.

Roger Rosmus, Founder & CEO of Goliath Resources states: “the Goldsource and Bullseye targets have confirmed the presence of significant gold mineralization found at surface on our Lucky Strike property. Both targets are fully permitted for drilling, and we look forward to testing these new discoveries for the first time with the drill bit in 2023. We will also follow up on multiple newly identified gold targets with strong discovery potential at Lucky Strike. Goliath is a project generator and seasoned explorer with a focus on new discoveries. It will continue to focus on unlocking the value of all its 100 % controlled precious metal properties which are all located in world class geologic settings within Canada. We look forward to releasing these drill results, as well as results from our 18,000 metres of drilling at our Golddigger property for up to 20,000 metres of drilling this year that we believe will provide substantial news flow catalysts”.

Link to complete press release: Click Here

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.

About Goliath Resources Limited
Goliath Resources Limited is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia and area as well as the Abitibi Greenstone Belt of Quebec. All of its 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: [phone]
[e-mail]
www.goliathresourcesltd.com

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