Goliath Resources Limited (TSX-V: GOT)
(FSE: B4IF) (OTCQB:
GOTRF) (the
“Company” or
“Goliath”) is pleased to report the receipt of all
outstanding assay results for the 2020 field program on the Surebet
discovery zone on its 100% controlled Golddigger property. It is
located in the prolific Golden Triangle, B.C. near Auryn’s
Homestake Ridge high-grade gold-silver resource and only 7km from
the Dolly Varden mine access road.
All outstanding channel samples assays have now
been received across the Main Waterfall Zone and Upper Main
Waterfall Zone. These new results have
increased the
average true
width and grade.
The high-grade polymetallic
gold-silver hosting shear zone is now 9.84 meters at 10.68
gpt AuEq. It has 1000
meters of strike
at surface and 500
meters of vertical relief
with 1000 meters
of inferred down dip
extension (see news November 10, 2020):
Main Waterfall Zone
- The grade and
width have increased to 13.05 gpt AuEq and 15.1 m true width
respectively.
- Including 22.35
gpt AuEq over 8.0 m;
- Including 27.34
gpt AuEq over 6.0 m; and
- Drill ready and
remains open in all directions (Click for image).
Upper Main Waterfall Zone
- The grade is
6.61 gpt AuEq over 3.0 m true width.
- It remains open
in all directions.
Golddigger Property – Surebet
Zone
- 3D Surebet Video
(Click here)
- 3D
Lidar/Structures Video (Click here)
- Proposed Drill
Targets Video (Click here)
- Overview Page
(Click here)
This high-grade polymetallic gold-silver
mineralization is contained within a broad alteration halo of
strongly silicified Hazelton Group sediments up to 43.5 meters wide
containing mineralization assaying up to
0.40 gpt
AuEq. The 1km (1000 meters) of inferred down dip
extension ends were a 40.75 g/t AuEq grab sample taken from exposed
bedrock. All sampling
to date has
confirmed minimal
deleterious materials
present.
The newly received assay results for the Surebet
Waterfall zone are a strong confirmation of the untapped discovery
potential remaining on the Surebet discovery. All outstanding assay
results have now been received.
The successful 2020 program totalling only 12
days boots on the ground focused 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. The Company identified multiple high-grade polymetallic
gold-silver drill targets confirmed by extensive channel cuts in
2020. The extensive channel cutting 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 abatement. The zones are up to 52.75 meters wide and
have traced on surface for up to 1000 meters with 500 meters of
vertical relief that remains open.
Table 1 - Channel samples
highlights
Location |
Sample Type |
Interval (m) |
Au (gpt) |
Ag (gpt) |
Cu (%) |
Pb (%) |
Zn (%) |
AuEq (gpt)2 |
Comment |
Waterfall
Zone |
Main Waterfall |
Channel |
15.1 |
7.64 |
382.00 |
0.04 |
0.83 |
0.52 |
13.05 |
Drill target, remains open |
Including |
Channel |
8 |
13.82 |
614.15 |
0.06 |
1.11 |
0.62 |
22.35 |
|
Including |
Channel |
6 |
17.96 |
676.53 |
0.07 |
1.20 |
0.64 |
27.34 |
|
Upper Main
Waterfall |
Channel |
3.00 |
2.84 |
263.62 |
0.03 |
0.41 |
0.57 |
6.61 |
Remains open drill
ready |
2 AuEq metal values are calculated using Au
USD/oz 1831.400, Ag USD/oz 23.440, Cu USD/lb 3.250, Pb USD/lb
0.900, Zn USD/lb 1.236 (2020/11/23). All values are reported in USD
and do not consider metal recoveries.
This gold rich polymetallic discovery is located
in an extensive area of recent glacial and snow pack abatement in
an alpine environment with excellent bedrock exposure, along an
unexplored region in close proximity to the “Red
Line” (Click for Image) in British Columbia’s Golden
Triangle (Click for Image). This world class geologic setting and
newly discovered wide-spread high-grade polymetallic gold-silver
mineralization on the Golddigger property has several early
indications of a significant new discovery.
The Surebet Zone is characterized by a series of
NW-SE trending faults that occur within a package of highly folded
and faulted Hazelton Group sediments. Lidar imagery, drone imagery,
and field observations have identified multiple paralleling faults
within close proximity to each other (Link to Lidar Map).
Geochemical analyses confirmed high grade gold-silver polymetallic
mineralization in bedrock that were followed up in 2020. The
program included systematic channel cutting and detailed mapping
covering the Surebet Zone and surrounding area.
The Golddigger property lies within the Stikine
Volcanic Arc, including the Eskay Rift (Click for Image) and
“Red Line” (Click for Image). Structurally
controlled, gold and silver bearing mineralization in these
stratabound horizons is preferentially delineated in a NW-SE
orientation. The Surebet 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.
Mineralization within the Surebet Zone consists of structurally
controlled massive, semi massive and disseminated sulphides
containing galena, sphalerite and pyrite.
Mr. Roger Rosmus, CEO of Goliath
states: “The 2020 results based on just 12 days boots on
the ground with a 5 man crew is a very strong testament to the
untapped discovery potential remaining on the Golddigger property.
The Surebet Zone is located in a world class geologic setting host
to several multi million ounce gold deposits and clearly has
excellent potential to quickly evolve into the next big discovery
in the Golden Triangle. The interest from miners and institutions
alike is a strong testament of the tremendous potential of the
project. The Company looks forward to the inaugural drill program
with great anticipation.”
Qualified Person
Rein Turna, P. Geo, is the qualified person as
defined by National Instrument 43-101, for Goliath Resources Ltd
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 MSALABS's laboratory in Terrace, BC.
MSALABS 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 and metallic screen fire assay in
Langley, BC. The pulps were also assayed using multi-element aqua
regia digestion at MSALABS's laboratory in Langley, BC. The coarse
reject portions of the rock samples, as well as the pulps, were
shipped to Goliath Resources Ltd's storage facility in Terrace, BC.
All samples were analyzed using MSALABS's assay procedure ICP-130,
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 FAS-121
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 MSALABS's ICA-6xx 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 FAS-425 method which includes a
fire-assay fusion procedure with a gravimetric finish. Samples with
Au grater than 5 ppm were additionally analyzed using metallic
screen fire assay with MSALABS’s MSC-150 or MSC-350 method. 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 LimitedMr. Roger
RosmusPresident and Chief Executive OfficerTel: +1 416 488
2887
(x222)roger@goliathresources.comwww.goliathresourcesltd.com
General disclaimer
Goliath Resources Limited "Goliath" has taken
all reasonable care in producing and publishing information
contained in this news release and will endeavor to do so on a
periodic basis. Material in this news release may still contain
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