GOLIATH COMPLETES OVER 34,000 METERS OF DRILLING IN 2023 FOR A CUMULATIVE TOTAL OF OVER 65,000 METERS AND SUCCESSFULLY EXPANDS THE MINERALIZED FOOTPRINT OF SUREBET DISCOVERY TO 1.8 km2 2023 HIGHLIGHTS: Goliath significantly increased this years program from 18,000 to over 34,000 meters from 124 hole
GOLIATH COMPLETES OVER 34,000 METERS OF DRILLING IN 2023 FOR A
CUMULATIVE TOTAL OF OVER 65,000 METERS AND SUCCESSFULLY EXPANDS THE
MINERALIZED FOOTPRINT OF SUREBET DISCOVERY TO 1.8 km2
2023 HIGHLIGHTS:
Goliath significantly increased this years program from 18,000 to over 34,000 meters from 124 holes,
for a cumulative total of over 65,000 meters of diamond drilling from 234 holes completed to date
at its 100% controlled Golddigger Property; assays are pending on 116 holes drilled in 2023.
The Golddigger drill program successfully expanded the mineralized footprint of the Sure bet
discovery from 1.6 km2 to 1.8 km 2 and has increased the confidence level of the system
encompassing three confirmed stacked zones: Surebet Zone, Bonanza Shear and a new 2023
discovery of the G olden Gate Zone . A ll three zones remain wide open (see updated model and
further information below).
98 holes drilled on Surebet in 2023 have all intersected either the Surebet Zone , Bonanza She ar
and/or Golden Gate Zone representing a 100% hit rate confirmed over an area of widely spread
mineralization encompassing 1.8 km2 that remains wide open.
41 holes (out of 98 holes) drilled in 2023 on Surebet, Bonanza and/or Golden Gate have intersected
Visible Gold with up to 4mm nuggets, representing a 42% hit rate, and a previously reported hole up
to 485 gm*AuEq (15.59 troy ounces gram meter AuEq) intercept from GD-23-157 with 21.08 g/t AuEq
over 23.00 meters* (18.95 g/t Au and 95.31 g/t Ag).
All the occurrences of Visible Gold to date have been consistently identified within quartz-breccia
and veins in contact with or near pyrrhotite, sphalerite and/or galena mineralization.
Based on 2021-2022 drill assays and preliminary drilling results from 2023:
➢ Surebet Zone, hosted in the Hazelton Sediments has 106 drill pierce points and modeled to be
>5,500,000 m3 (Avg. 6.88 meters* @ 6.31 g/t AuEq).
➢ Bonanza Shear, hosted between the Hazelton Sediments -Volcanics has 104 drill pierce points
and the model has been expanded from 13,000,000 m3 to >25,000,000 m3.
➢ The newly discovered Golden Gate Zone, hosted within the Hazelton Volcanics has been
modelled to be >1,100,00 m3, grade definition is dependent on pending assays.
➢ All three zones remain open (see updated model and further information below).
➢ Management believes the average widths and grades of th is system should increase once all
assays are received, compiled, and interpreted from the 2023 program.
Five (5) newly discovered mineralized zones were identified within the Surebet Zone/Bonanza Shear
district part of the Golddigger property. Mineralization in these new prospective domains consists
of Surebet-style quartz -sulphide breccias, stockworks and veins with variable amounts of semi -
massive to massive, stringers and veinlets of galena, sphalerite and pyrrhotite greatly expanding the
footprint of this high-grade gold-silver system (further information and images below).
Goliath made four (4) new discoveries that were outcropping from within Golddigger’s Cambria
Icefields claims, located ~40km north of Surebet . They include Treasure Island, Metallica, Heavy
Hitter and Full Contact proximal to past producing mines. The mineralized zones show ge ologic
indicators of potential epithermal deposits. Multiple channel cuts and grab samples were taken to
develop into potential future drill targets; assays are pending ( further information and images
below).
Goliath has partnered with domain experts such as Dr. Quinton Hennigh and Dr. Thomas Monecke
from the Colorado School of Mines. The Company has also partnered with consulting firms including
SRK Consulting (Canada) Inc. , Archer, Cathro & Associates (1981) Limited , and Oriented Targeting
Solutions LLC (OTS), to analyze an extensive array of geological datasets spanning drilling, mapping,
drone photogrammetry and remote sensing data to interpret the presence of an Intrusion-Related
Gold Deposit.
Toronto, Ontario – October 16, 2023 – Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF)
(the “Company” or “Goliath”) is pleased to report a summary overview of the diamond drilling of over 34,000
meters from 124 holes and exploration results during the 2023 season at its 100% controlle d Golddigger
Property (the “Property”), Golden Triangle, B ritish Columbia. Inclusive of this exploration season, there has
been over 65,000 meters of diamond drilling to date from 234 holes.
Quinton Hennigh, Technical and Geologic Director of strategic shareholder, Crescat Capital, commented:
"In 2023, Goliath successfully completed one of the most aggressive exploration campaigns of any company
in the junior mining space. Their approximately 34,000 meters of drilling has now more fully fleshed out the
Surebet Zone and has also proven that there is a robust stacked lode system here including the expansive
Bonanza Shear and newly discovered Golden Gate Zone. In addition, Goliath's field teams have identified a
plethora of new high-grade quartz-sulphide lodes similar in nature to Surebet scattered across the vast
Golddigger project, all ready for drilling in 2024. Given there is a considerable inventory of core being assayed
at the lab, including several notable vein intercepts containing appreciable visible gold, we have a lot of
results to look forward to."
"We are extremely proud of our entire team who all stepped up to the plate to make this years program one
to remember for the books”, stated Roger Rosmus, Founder & CEO of Goliath Resources, further he stated:
“The fact Goliath has been able to outline such a large robust high-grade gold-silver system within only a
total of 10 months of cumulative diamond drilling and exploration time, is a very strong testament to this
world-class discovery. The structurally controlled Surebet discovery continues to demonstrate its exceptional
continuity with over 100 mineralized holes in the Surebet Zone as well as over 100 mineralized holes in the
Bonanza Shear has substantially increased managements confidence level of the system. In addition, the new
Golden Gate Zone discovery this year, is a very important development within the Hazelton Volcanics 20
meters below the Bonanza Shear as its possibly showing us the way to a nearby mineralized feeder source for
all these mineralized zones. We have already announced a 100% drilling hit rate within Surebet having visible
gold in 42% of the holes with up to 4mm gold nuggets in size. These include several very high grade holes
recently announced that have assayed up to 485 g*m AuEq; we look forward to additional results.”
Drill Trace Map
Diamond drilling from 2021 to 2023
Updated Model
Based on 2021-2022 diamond drill assays and preliminary diamond drilling results from 2023
Management believes the average widths and grades of this system should increase once all assays are
received, compiled, and interpreted based on the preliminary results thus far from 2023.
Cross Section
Locations of 7 drill holes assaying 138 g*m AuEq and up to 485 g*m AuEq as well as selected abundant
visible gold drill holes with assays pending.
Prospecting Highlights:
Expansion of Surebet Zone-Bonanza Shear
Five newly discovered mineralized zones were identified within the Surebet Zone/Bonanza Shear district part
of the Golddigger property. Mineralization in these new prospective domains consists of Surebet-style quartz-
sulphide breccias, stockworks and veins with variable amounts of semi -massive to massive, stringers and
veinlets of galena, sphalerite and pyrrhotite greatly expanding the footprint of this high-grade gold-silver
system. Specifically, the Bonanza Shear has been expanded to the northeast by 1.1 kilometers (outcropping on
the western side of the North Slope at Kahuna), south by 1.4 kilometers (across the valley from Pad A at
Humdinger) and southeast by 2.4 kilometers (along the main creek that drains from Surebet at Outpost). The
Surebet Zone was expanded by 400 meters to southwest along Real Deal. The mineralized shear zones and
veins discovered at Kahuna, Full House, Outpost, Humdinger and Lower Surebet have widths of up to 50 meters
and extend on surface for up to 2.5 kilometers (see map below).
1. Full House: it consists of a series of stacked E-W trending and N dipping significantly mineralized
shear zones sporadically outcropping at surface over 3 kilometers. They are characterized by Surebet-
style mineralization with massive to semi-massive galena and sphalerite (see images below). Visible
Gold was found in a grab sample on surface that assayed 113.5 g/t Au and 249.0 g/t Ag at the Payday
showing, located within the upper portion of the Full House trend. Full House is located 5 km
northwest of Surebet and 3.5 km southwest of Goldswarm. All these zones are believed to be closely
related and have most likely been mineralized by the same extensive high-grade feeder source
located at depth. Channel cuts, grab samples taken, and two (2) holes were drilled in 2023 at Payday;
assays are pending (see images below).
2. Kahuna Zone: a new 600 meter strike extension of the mineralized Bonanza Shear 2 kilometers to
the northeast of the Surebet Zone along the eastern part of the North Slope. Within the Kahuna
zone, two additional new polymetallic quartz-sulphide veins were discovered with up to 10-meter-
wide blow-outs containing abundant galena, sphalerite, and chalcopyrite. Channel cuts, grab samples
taken, and five (5) holes were drilled in 2023 and assays are pending (see image below).
3. Outpost Zone: multiple polymetallic quartz-sulphide veins, stockworks, and breccias have been
discovered within sedimentary and volcanic rocks located 5 kilometers to the southeast of the
Surebet Zone. These veins and breccia zones have been traced over 700 meters in outcrop and range
between 5 and 50 meters in thickness and remain open. Channel cuts, grab samples taken, and two
(2) holes were drilled in 2023 and assays are pending (see images below).
4. Humdinger Zone: the Bonanza Shear was traced for 400 meters on surface southeast of the Surebet
Zone and extended towards the west through the Real Deal Zone. It is projected to continue 1.5
kilometers south across the valley under the new Humdinger Zone. This zone is characterized by
multiple polymetallic quartz-sulphide veins and stockwork with a width of approximately 3 meters in
the west and increases in width to over 20 meters in the east that remain open in both directions.
Channel cuts, grab samples taken, and four (4) holes drilled in 2023 and assays are pending (see
images below).
5. Lower Surebet on Real Deal fault: the Bonanza Shear was traced 400 meters on surface southwest
of the Surebet Zone, extending south along Real Deal. This zone is characterized by Surebet-style
mineralization with galena and sphalerite within multiple polymetallic quartz-sulphide veins and
stockwork with a width up to 8 meters and remains open in both directions. Channel cuts, grab
samples taken, and four (4) holes drilled in 2023 and assays are pending (see images below).
Golddigger’s Cambria Icefields Claim Blocks
Four (4) new discovered targets have been identified in the recently staked claims on Goliath’s Cambria
Icefields Claim Blocks, located between Surebet and the town of Stewart, B.C. They are showing early signs of
a strong mineralizing system at play and represent extremely prospective drilling targets for the 2024 season.
The mineralized zones in the northern portion of the Cambria Icefields show geologic indicators of an
epithermal deposit, which could connect Treasure Island on the west with Metallica and Heavy Hitter on the
east. Testing this hypothesis with the 2024 drilling campaign could result in high-grade epithermal-style
mineralization over an area extending for more than 20 km (see map below).