Golddigger Property Samples up to 133.50 G/T Au & 249.00 G/T AG Goliath Discovers High-Grade GOLD and Silver IN Multiple Breccias and Stockworks Along the Red LINE Corridor Within the Golden Triangle, B.c.
GOLDDIGGER PROPERTY SAMPLES UP TO 133.50 g/t Au & 249.00 g/t Ag
GOLIATH DISCOVERS HIGH-GRADE GOLD AND SILVER IN MULTIPLE BRECCIAS AND
STOCKWORKS ALONG THE RED LINE CORRIDOR WITHIN THE GOLDEN TRIANGLE, B.C.
Toronto, Ontario – November 26th, 2018 – Goliath Resources Limited (TSX -V: GOT) (OTCQB:
GOTRF) (FSE: B4IE) ( the “Company” or “Goliath”) is pleased to report the original discovery of
multiple breccias , stockwork s, and veins containing high grade gold , polymetallic
mineralization over an extensive area on its 100% controlled Golddigger Property . Results
from the 2018 program include channels up to 0.55 m grading 29.70 g/t Au and 14.30 g/t Ag ,
chip samples of up to 0.50 m grading 47.50 g/t Au and 272.00 g/t Ag and grabs up to 113.50
g/t Au and 249.00 g/t Ag . This new gold-enriched polymetallic discovery is located in an
extensive area of recent glacial and snow pack abatement along a unexplored region of the
‘Red Line’ in British Columbia’s Golden Triangle (link to map ). This world class geologic setting
confirms the Golddigger property has strong potential to host a significant new discovery.
2018 Highlights Include:
• The discovery of multiple breccias, stockworks, and veins containing high grade gold
and polymetallic mineralization adjacent to the Red Line within an extensive area of
recent glacial and snowpack abatement, located in the Golden Triangle (link to video).
o The underexplored Golddigger property lies within the Stikine Volcanic Arc,
including the Eskay Rift and Red Line (link to map ), providing a world class
geologic setting in a large underexplored area with tremendous untapped
discovery potential.
• The Goldswarm Zone has been expanded to 450 by 150 metres and remains open, with
no previous work recorded (link to maps)
• 24 in situ bed rock samples at surface taken from the Red Line Corridor assayed from
1.25 g/t Au to 113.50 g/t Au, and channel and chip highlights include:
o 0.55 m Channel grading 29.70 g/t Au and 14.30 g/t Ag (link to image)
o 0.40 m Channel grading 25.10 g/t Au and 126.00 g/t Ag (link to image)
o 0.50 m Chip grading 47.50 g/t Au and 272.00 g/t Ag (link to image)
o 0.50 m Chip grading 24.50 g/t Au and 77.10 g/t Ag (link to image)
o 0.55 m channel grading 6.54 g/t Au and 18.40 g/t Ag (link to image)
o 0.40 m channel grading 4.44 g/t Au and 46.10 g/t Ag (link to image)
o 2.75 m channel grading 1.53 g/t Au and 42.70 g/t Ag (link to image)
• Goldswarm is characterized by a WNW trending steep vein/fault system that occurs
within a wider (~30 -50 m) structural alteration corridor that has been traced on surface
for 1 kilometre and remains open (link to image).
• Newly acquired high-resolution magnetic data shows multiple magnetic l ow breaks and
Goldswarm correlates very well with one of the fault systems, which defines a strong 5
km long NW-SE magnetic low linear feature that remains and is believed to be
associated with the gold mineralization (link to map).
Mr. Roger Rosmus, Director, President and CEO of Goliath stated: “We are very excited about
this significant new discovery located in a world class geologic setting. These results strongly
confirm the tremendous untapped discovery potential remaining on Golddigger as this was
found during a brief exploration program. Goliath controls a 100 % interest in 4 properties that
demonstrate strong potential to host significant discoveries. This has been confirmed by the
interest from many senior miners, the support from several funds and accredited investors alike
in North America as well as overseas. We look forward to reporting our 2018 drilling results
once received, compiled and interpreted; 2019 is certainly shaping up to be a very exciting
exploration season.”
The 2017 program at Golddigger returned gold assays of up to 21.0 grams per tonne defining a
zone extending over 115 by 95 metres, which remained open. A follow-up program was carried
out in 2018 to prospect, map, channel sample, and drone to further characterize the
mineralized quartz vein/stockwork and breccia zones, which were discovered in 2017. A total of
81 samples (21 channel, 16 chip, 40 bedrock grab, and 4 talus samples) were collected from
Goldswarm and the surrounding unexplored Red Line Corridor (link to image), and highlights
are tabulated below. These results expanded Goldswarm from 115m x 95 m to 450 by 150
metres and it remains open. Multiple, newly discovered veins and breccia systems, containing
high grade gold mineralization, were also identified up to 3 km from Goldswarm within the
larger Red Line Corridor (link to map). Assays from these zones graded up to 19.65 grams per
tonne gold and 22.80 grams per tonne silver, demonstrating the excellent untapped gold
potential of this unexplored world class geological setting.
The eastern side of the Golddigger property 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 Goldswarm Trend is hosted in black/maroon siltstone and shales (with minor limestone) of
the Hazelton Group (?). Structurally controlled , gold-bearing mineralization in t hese strata -
bound horizons is preferentially delineated in a NW-SE orientation (link to image s). Both the
Stuhini and Hazelton Groups have been intruded by granitoids of the Coastal P lutonic Complex
that are typically Paleocene to Eocene equigranular hornblende-biotite monzogranites.
Table 1 – Golddigger Assay Highlights
Sample # Channel/Chip/Grab1 Length
(metres)2
Gold
(g/t)
Silver
(g/t)
Copper
%
Lead
%
Gold Eq3
(g/t)
W497617 Talus 113.50 249.00 0.18 4.88 119.10
W497853 Grab 54.30 306.00 0.52 0.62 58.98
W497852 Chip 0.50 47.50 272.00 0.55 0.41 51.74
W496005 Channel 0.55 29.70 14.30 0.02 0.11 30.13
W497912 Grab 26.50 377.00 0.83 0.13 32.25
W496002 Channel 0.40 25.10 126.00 0.29 0.13 27.09
W497854 Chip 0.50 24.50 77.10 0.06 0.10 25.54
W497914 Grab 21.30 117.00 0.56 0.05 23.57
W497613 Grab 19.65 22.80 0.00 0.02 19.92
W497851 Grab 16.30 54.90 0.18 0.08 17.26
W497614 Grab 9.56 47.10 0.30 0.02 10.59
W496003 Channel 0.55 6.54 18.40 0.06 0.05 6.87
W497913 Grab 5.04 99.80 0.26 0.04 6.63
W496004 Channel 0.40 4.44 46.10 0.30 0.15 5.53
W497620 Grab 3.36 126.00 0.02 0.04 4.87
W497856 Chip 1.00 3.07 6.30 0.06 0.00 3.23
W497860 Chip 1.00 2.94 22.70 0.02 0.04 3.26
W497612 Grab 2.31 137.00 0.26 0.10 4.36
W497616 Grab 1.71 4.10 0.03 0.05 1.82
W497960 Grab 1.58 94.00 0.00 0.00 2.67
W496011-15 Channel 2.75 1.53 42.70 0.10 0.07 2.23
W497955 Chip 0.30 1.47 37.50 0.00 0.01 1.97
W497958 Grab 1.25 57.50 0.00 0.11 2.03
W497905 Grab 0.98 22.50 0.09 0.26 1.51
W497957 Grab 0.90 2.30 0.00 0.00 0.92
W497864 Talus 0.78 158.00 0.13 0.18 2.90
W497619 Grab 0.73 7.80 0.01 0.13 0.90
W497859 Grab 0.60 18.30 0.06 0.79 1.30
W497903 Grab 0.35 27.60 0.04 0.15 0.80
W497621 Chip 1.00 0.27 11.20 0.00 0.02 0.41
W497924 Grab 0.21 70.60 0.04 0.24 1.22
W497855 Chip 0.50 0.20 49.00 0.27 0.21 1.29
W497919 Grab 0.13 47.90 0.02 0.04 0.74
W497618 Grab 0.11 0.80 0.00 0.00 0.12
1Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are not intende d to be
representative of the material sampled
2True thickness of mineralized zone not known
3AuEq metal values are calculated using: Au $1201.45/oz, Ag $13.97/oz, Cu $2.77/lb, Pb $0.87/lb
Extensive regions of recent snowpack and glacial recession on the Golddigger Property provide
for large unexplored areas of newly exposed bedrock with excellent potential for discovery of
both precious and base metals. Compilation of 2018 geochemistry, LIDAR, airborne geophysics,
mapping and alteration studies is ongoing and will focus on expanding th ese new polymetallic
gold discover ies. Follow up exploration is recommended to focus on expanding the known
extent of surface mineralization in preparation for drilling. The property is in an alpine
environment with excellent bedrock exposure and is only seven kilometres west of the Dolly
Varden Mine road , providing good access to infrastructure in Alice Arm , including deep water
ocean access. This new gold discovery area is situated along the ‘Red Line’ corridor in British
Columbia’s renowned Golden Triangle and offers strong potential for the discovery of
additional significant gold mineralization in this world class geological setting.
About Goliath
Goliath Resources Limited is a project generator of precious metals projects focus ed in the
prolific Golden Triangle and surrounding area of northwestern British Columbia. It controls
100% of four highly prospective properties that include Bingo, Golddigger, Lucky Strike and
Copperhead covering over 44,000 hectares. All four properties have brand new discoveries
that all have returned anomalous gold, silver and/or copper in soils, grab and channel samples
from exposed bedrock at surface over large areas. These new discoveries occurred in an area of
glacial recession and snowpack melting in a geological setting where world class deposits have
been found within the Golden Triangle and surrounding area.
Qualified Person
Stephen Roach 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 samp le 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 gravim etric 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
www.goliathresourcesltd.com
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