Goliath Resources Limited (TSX-V: GOT) (FSE: B4IE)
(OTCQB:
GOTRF) (the
“Company” or
“Goliath”) is pleased to report that it has
significantly expanded on its previously documented mineralization
at its Golddigger property located in B.C.'s prolific Golden
Triangle. A total of 179.85 meters of channel samples were taken
this year from multiple outcrops that contain massive and
semi-massive sulphides inclusive of strongly silicified volcanic
sediments from the SureBet Zone. The property is located 7km West
of the Dolly Varden Mine access road providing for cost effective
exploration.
Of the total 188.25 meters taken in 2019/2020,
assays are pending on 179.85 meters from 2020 as 8.40 meters (true
width) were taken in 2019 that assayed 5.37 g/t Au and 144.80 g/t
Ag; including 3.4 meters of 12.74 g/t Au and 299.68 g/t Ag (Click
to Image).
The newly discovered SureBet Zone is located ~8
kilometers S.W. of Auryn Resources’ Homestake Ridge property which
is a high-grade gold-silver deposit that contains 982,700 oz of
gold @ 4.99 g/t gold and 19,600,000 oz of silver @ 97.7 g/t silver,
with drill intercepts of up to 73 meters of 21 g/t gold and 12 g/t
silver.
2020 Highlights
Include:
- The SureBet Main Zone has 750
meters of strike with 450 meters of vertical relief and up to 52.75
meters wide and remains open (Click to Map).
- Mineralization consists of
structurally controlled zones of massive sulphide containing
Galena, Sphalerite and Pyrite.
- These zones occur within broad
alteration halos of silica flooded sediments which also contain
polymetallic mineralization.
- Assay’s to date from 2019
include:○ 8.4m channel cut @ 5.37 g/t Au and 144.80 g/t Ag;
includes 3.4m of 12.74 g/t Au & 299.68 g/t Ag○ 1m chip @
49.50 g/t Au and 862.00 g/t Ag○ 1m chip @ 38.20 g/t Au and
167.00 g/t Ag○ 1m chip @ 5.34 g/t Au and 1150.00 g/t
Ag○ 2m chip @ 4.40 g/t Au and 49.20 g/t Ag
Assays are pending for all 2020 channel samples
totaling 179.85 meters include:
- The SureBet Main Zone has 750
meters of strike with 450 meters of vertical relief and up to 52.75
meters wide and remains open (Click to Map) (Click for
Video).○ Total width of 52.75m; 44.35m channel extension taken
in 2020○ 52.75m includes 8.4m taken in 2019 assaying @ 5.37
g/t Au and 144.80 g/t Ag; including 3.4m of 12.74 g/t Au and 299.68
g/t Ag taken in 2019 (Click to Image).○ Contains strongly
silicified volcanic sediment with semi-massive
sulphides○ (Click to Images)
- SureBet Central Zone - 47.8m
cumulative channels taken○ Channels up to 33.4m in
length○ Contains massive to semi massive sulphides and
disseminated sulphides○ (Click to Image)
- SureBet Waterfall Zone 33.5m wide
and remains open○ Channels taken up to 15.1m in
length○ Contains massive to semi massive sulphides and
disseminated sulphides○ (Click to Image)
- SureBet North Zone – 18.7m
cumulative channels taken and remains open○ Channels up to
12.3m in length○ Contains massive to semi massive sulphides
and disseminated sulphides○ (Click to Image)
- SureBet South Zone - 8m channel cut
and remains open○ Contains semi-massive sulphides○ (Click
to Image)
- SureBet East Zone – 4m channel cut
and remains open to the South○ Contains massive
sulphides○ (Click to Image)
- SureBet West Zone – 4m channel cut
and remains open:○ Contains massive sulphides○ (Click to
Image)
- SureBet Cliff Zone up to 40m
wide:○ Chips of 1 meter taken○ Contains massive
sulphides○ (Click to Image)
- New Cloud 9 Zone – 19.5m cumulative
channels taken and remains open; ~800m West of the SureBet Zone
(Click to Maps):○ Channels up to 15.1m in
length○ Contains semi massive and disseminated
sulphides○ (Click to Image)
The successful 2020 program focussed on tracing
the full extent of the extensive high-grade gold-silver mineralized
outcrops identified in 2019 in preparation for the inaugural drill
program planned for 2021 (Link to Video). The Company has
identified up to 11 drill locations subject to positive assay
results from the channel cuts. The program consisted of a series of
systematic channel cuts on newly discovered gold-silver mineralized
outcrops within a 4 square kilometre area of glacial and snowpack
abetment. The zones are up to 52.75 meters wide and have traced on
surface for up to 750 meters with 450 meters of vertical relief and
remain open. The previously reported 2019 channel highlight of 8.4
meters (true width) assayed5.37 g/t Au and 144.80 g/t Ag over 8.4
meters; including 3.4 meters of 12.74 g/t Au and 299.68 g/t Ag (see
news release – Click here).
This new high grade gold-silver rich
polymetallic discovery made in 2019 is located in an extensive area
of recent glacial and snow pack abatement along an unexplored
region in close proximity to the ‘Red Line’ in
British Columbia’s prolific Golden Triangle (Link to Map). This
world class geologic setting and newly discovered widespread high
grade polymetallic gold-silver mineralization on the Golddigger
property has several early indications of a significant new
discovery.
The property is in an alpine environment with
excellent bedrock exposure and is only 7km west of the Dolly Varden
Mine road and 10km to deep water barge access, providing good
access to infrastructure in Alice Arm.
Table 1 –
SURE BET MAIN
ZONE (2019 Channel Sample
Results)
Channel I/D |
SampleType |
Interval (m) |
Gold(gpt) |
Silver(g/t) |
Copper(%) |
Zinc(%) |
Lead(%) |
Gold
Eq(gpt) |
Sure Bet 1 |
Channel |
8.4 |
5.37 |
114.80 |
0.01 |
0.28 |
1.10 |
7.37 |
Including |
Channel |
3.4 |
12.74 |
299.68 |
0.02 |
0.58 |
2.47 |
17.68 |
Including |
Channel |
0.4 |
71.30 |
1685.00 |
0.06 |
4.27 |
19.70 |
102.16 |
1. AuEq metal values are calculated using Au
$1490.80/oz, Ag $17.54/oz, Cu $2.60/lb, Pb $0.97/ln, Zn $1.11lb.
All values are reported in USD and do not consider metal
recoveries.
Table 2 –
SURE BET ZONE INCLUSIVE OF SURE
BET MAIN ZONE
(2019 Prospecting Sample
Highlights)
Sample ID |
SampleType |
Interval (m) |
Gold(gpt) |
Silver(g/t) |
Copper(%) |
Zinc(%) |
Lead(%) |
Gold
Eq(gpt) |
A0600609 |
Chip |
1.0 |
49.50 |
862.00 |
0.06 |
1.71 |
6.07 |
63.30 |
A0600659 |
Chip |
1.0 |
38.20 |
167.00 |
0.07 |
3.09 |
2.51 |
42.94 |
A0600655 |
Chip |
1.0 |
5.34 |
1150.00 |
0.04 |
0.84 |
14.05 |
25.62 |
A0600608 |
Chip |
2.0 |
4.40 |
49.20 |
0.00 |
0.05 |
0.28 |
5.13 |
A0601413 |
Grab |
|
46.00 |
846.00 |
0.08 |
2.16 |
3.82 |
58.86 |
A0600606 |
Grab |
|
45.50 |
695.00 |
0.04 |
4.36 |
12.30 |
60.44 |
A0600663 |
Grab |
|
36.70 |
82.40 |
0.01 |
0.08 |
1.76 |
38.51 |
A0600654 |
Grab |
|
32.60 |
1460.00 |
0.04 |
1.21 |
10.65 |
55.20 |
A0601033 |
Grab |
|
29.00 |
340.00 |
0.03 |
9.19 |
6.77 |
40.75 |
A0600657 |
Talus |
|
18.30 |
280.00 |
0.03 |
6.70 |
4.33 |
26.99 |
A0600652 |
Float |
|
17.85 |
59.70 |
0.87 |
0.14 |
0.01 |
19.67 |
A0601418 |
Grab |
|
9.74 |
1665.00 |
0.07 |
4.69 |
4.00 |
33.48 |
A0600603 |
Float |
|
9.59 |
111.00 |
0.01 |
0.06 |
1.33 |
11.53 |
A0601036 |
Grab |
|
5.83 |
653.00 |
0.11 |
1.96 |
1.25 |
15.20 |
A0600662 |
Grab |
|
5.82 |
73.30 |
0.02 |
0.18 |
1.20 |
7.33 |
A0601414 |
Grab |
|
3.76 |
206.00 |
0.03 |
0.35 |
1.50 |
7.07 |
A0600658 |
Talus |
|
3.58 |
773.00 |
0.03 |
7.00 |
10.90 |
21.14 |
A0600653 |
Grab |
|
2.90 |
126.00 |
0.01 |
1.46 |
1.31 |
5.72 |
A0600661 |
Grab |
|
2.51 |
2580.00 |
0.20 |
2.62 |
5.78 |
37.02 |
A0600656 |
Grab |
|
2.06 |
1200.00 |
0.09 |
4.62 |
3.89 |
20.38 |
A0600664 |
Grab |
|
1.93 |
10.20 |
0.11 |
0.03 |
0.03 |
2.20 |
A06001415 |
Grab |
|
1.89 |
2360.00 |
0.24 |
4.83 |
6.30 |
35.22 |
A0600665 |
Grab |
|
1,41 |
20.00 |
0.05 |
0.42 |
0.14 |
1.98 |
¹Grab samples are selective in nature and
collected to determine the presence or absence of mineralization
and are not intended to be representative of the material
sampled.²AuEq metal values are calculated using Au $1490.80/oz, Ag
$17.54/oz, Cu $2.60/lb, Pb $0.97/ln, Zn $1.11lb. All values are
reported in USD and do not consider metal recoveries.
The Sure Bet Zone is characterized by a series
of NW-SE trending faults that occurs within a package of highly
folded and faulted Hazelton group sediments. Lidar imagery, drone
imagery, and field observations have identified several additional
paralleling faults within close proximity to the newly discovered
Sure Bet Zone provide. Geochemical analyses confirmed high grade
gold-silver polymetallic mineralization within these structures
that were followed up on in 2020 (Image of 4sqkm Area). The program
included detailed mapping and systematic channel cutting covering
the Sure Bet Zone and surrounding area containing multiple NW-SE
trending structures.
Mineralization within the Sure Bet Zone consists
of structurally controlled lenses of massive sulphide containing
Galena, Sphalerite and Pyrite. These lenses occur within broad
alteration halos of silica flooded sediments which also contain
polymetallic mineralization.
The Sure Bet Zone is on the eastern side of the
Golddigger property and is underlain by coarse clastic sedimentary
rocks of the Stuhini Group that are unconformably overlain by
inter-fingered volcanics as well as sedimentary rocks of the
Hazelton Group. This contact is known as the ‘Red
Line’ and thought to be a key marker in the Golden
Triangle when exploring for significant mineralizing systems. The
Sure Bet Zone is located within the Hazelton group sedimentary
rocks.
The Golddigger property lies within the Stikine
Volcanic Arc, including the Eskay Rift and Red Line (Link to Map).
Structurally controlled, gold and silver bearing mineralization in
these stratabound horizons is preferentially delineated in a NW-SE
orientation.
Mr. Roger Rosmus, CEO of Goliath
states: “We are extremely pleased with this year’s
program, as it has provided us with a better understanding of the
magnitude of this area and significant potential upside of what we
believe could be a material new high-grade gold-silver discovery in
the Golden Triangle close to infrastructure. Assuming assays come
back positive, this will provide us with up to 11 excellent drill
targets for the 2021 inaugural drill program. We are very keen to
see the assay results from the 2020 program as we look to unlock
the true potential of our Golddigger property.”
Qualified Person
Rein Turna, P. Geo, is the qualified person as
defined by National Instrument 43- 101, for Goliath Resources
projects, and supervised the preparation of, and has reviewed and
approved, the technical information in this release.
Other
All rock, channel and talus fine samples were
crushed and pulverized at ALS Canada Ltd.'s lab in Vancouver, BC.
ALS is either Certified to ISO 9001:2008 or Accredited to ISO
17025:2005 in all of its locations. The resulting sample pulps were
analyzed for gold by fire assay in Vancouver, BC. The pulps were
also assayed using multi-element aqua regia digestion at ALS Canada
Ltd.'s lab in Vancouver, BC. The coarse reject portions of the rock
samples, as well as the pulps, were shipped to DSM Syndicate's
storage facility in Terrace, BC. All samples were analyzed using
ALS Canada Ltd.'s assay procedure ME-ICP41, a 1:1:1 aqua regia
digestion with inductively-coupled plasma atomic emission
spectrometry (ICP-AES) or inductively-coupled plasma mass
spectrometry (ICP-MS) finish for 35 elements as well as the Au-AA24
lead collection fire assay fusion procedure with atomic absorption
spectroscopy (AAS) finish. Any results greater than 100 ppm for
silver or 10,000 ppm copper, lead and zinc were additionally
assayed using ALS's OG46 method particular to each element. This
method used an HNO3-HCl digestion followed by ICP-AES (or
titrimetric and gravimetric analysis). Gold values of greater than
10 ppm Au were assayed by the Au-GRA22 method which includes a
fire-assay fusion procedure with a gravimetric finish. QA/QC
samples including blanks, standards, and duplicate samples were
inserted regularly into the sample sequence.
The reader is cautioned that grab samples are
spot samples which are typically, but not exclusively, constrained
to mineralization. Grab samples are selective in nature and
collected to determine the presence or absence of mineralization
and are not intended to be representative of the material
sampled.
For more information please
contact:
Goliath Resources Limited Mr. Roger
Rosmus President and Chief Executive Officer Tel:
+1-416-488-2887 x222 roger@goliathresources.com
www.goliathresourcesltd.com
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