Goliath Begins Its Inaugural Drill Program ON Lorne Creek Au-Cu-Mo Porphyry Discovery
GOLIATH BEGINS ITS INAUGURAL DRILL PROGRAM ON
LORNE CREEK Au-Cu-Mo PORPHYRY DISCOVERY
Toronto, Ontario – July 29, 2019 – Goliath Resources Ltd. (TSX -V: GOT) (FSE: B4IE) (OTCQB: GOTRF)
(the “Company or “ Goliath”) is pleased to announce its inaugural diamond drilling program has
commenced at its newly discovered Au-Cu-Mo outcropping porphyry center. The Lorne Creek porphyry
is located within its 100% controlled Lucky Strike Property, located in northwestern British Columbia in
the surrounding area to the Golden Triangle.
The Lucky Strike Property is 31,511 hectares in size and located 40 kilometers north of Terrace, British
Columbia. It has logging road access and is ~ 8 kilometers to a major highway, power, rail , and
additional infrastructure. The objective of the drill program is to trace mineralization from surface to
depth at its newly discovered outcropping Lorne Creek Au-Cu-Mo Porphyry System. Link to target video
(Click Here).
Property highlights include:
• A confirmed mineralized Au-Cu-Mo po rphyry center is defined by a large 1200 by 700 metre
alteration system , that is cored by QSP (link to image ). The core contains gold-bearing
chalcopyrite and molybdenite stockwork mineralization;
o The gold, copper, and molybdenum grades from the Lorne Creek Porphyry system are
consistent with typical porphyry systems.
• The Lorne Creek Porphyry Discovery is at the headwaters of Lorne Creek, the most prolific placer
gold producer in the district.
• Historical placer gold production of 13,721 troy ounces and nuggets of up to 1.5 ounces gold
(see BC MINFILE No. 103I204, 103I050 and 103I207).
• Mapping has highlighted a spatial link between poly metallic Au/Pb/Zn/Cu/Ag (link to image )
veins and Cu -Mo porphyry centers. These veins are coincident with historically documented
porphyry related polymetallic veins in Lorne Creek. Link to samples video (Click Here).
• Along the headwaters of Lorne Creek, a series of silt sample s were taken during the 2017
season. These returned multi-element anomalies, including copper, molybdenum, and gold
values up to 40 6 ppb. A historic BC MINFILE report (No. 103l027) from this creek reports
angular, pyritized and quartz -veined boulders hosted in a molybdenum -rich porphyry
environment.
• The Lorne Creek Porphyry System is located within a larger known porphyry belt.
Mr. Roger Rosmus, CEO and Director of Goliath states:
“We are very excited that our inaugural drill program has commenced at the newly discovered porphyry
center that contains gold, copper, molybdenum mineralization outcropping at surface. It is extremely
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rare to discover a new porphyry center outcropping at s urface. Management believes this porphyry
system likely explains the source of the significant amount of placer gold historically produced from
Lorne Creek. This discovery has attracted interest from several senior mining companies. With positive
drilling results, the Lorne Creek Au-Cu-Mo Porphyry System is positioned to quickly evolve into the next
big porphyry discovery in an area with significant infrastructure already in place . W e look forward to
reporting our 2019 drilling results with much anticipation”.
Qualified Person
Stephen Roach P. Geo is the qualified person as defined by National Instrument 43 -101, for Goliath
exploration projects, and supervised the preparation of, and has reviewed and approved, the technical
information in this release.
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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