Goliath Cuts 3.75 Meters of 7.86 g/t AuEq on Gold Star Property
Goliath Cuts 3.75 Meters of 7.86 g/t AuEq on Gold Star Property
TORONTO, March 03, 2020 -- Goliath Resources Ltd. (TSX-V: GOT.V) (Frankfurt: B4IE) (the “Company" or “Goliath”)
reports channel sample results from the Goldilocks Zone on the Gold Star property, that assayed 7.86 g/t AuEq over 3.75m
true width. This channel was taken over a 3.75m wide section to partially test a 10.5m wide outcrop containing
extensive veining and alteration, the channel started in 9.01 g/t AuEq and ended in 10.79 g/t AuEq and remains
open. The Goldilocks Zone discovered in 2018 is 190m long by 20 meters wide and extends for 160 m vertical relief. It is
located 500 m north of the Yellow Brick Road Gold Zone, and remains open. The Yellow Brick Road Zone was discovered in
2017, mapped for 170 meters and remains open. Channel samples assayed up to 24.55 grams per tonne gold equivalent over
0.3 meters (20.6 g/t Au, 329 g/t Ag, 0.02 % Pb - DSM Oct 30 th 2018). These two high grade gold zones are in an under-
explored region of extensive glacial and snow pack recession providing vast areas of newly exposed bedrock with excellent
potential for additional gold discoveries (Property Map Highlights).
Goliath owns a 10% interest in The Gold Star property that covers 238 hectares in an original discovery that was generated
and staked by the DSM Syndicate. DSM is a private project generator that Goliath bought a 10% interest and holds a total of
six B.C. properties with the goal of optioning them to qualified parties. Additional information can be found on the DSM website
at www.dsmsyndicate.com. Goliath has a right of first refusal option to acquire 100% of The Gold Star Property that expires on
March 20, 2020.
Property Highlights Include:
• Goldilocks Zone Drill Ready
° Goldilocks Zone is demarked by multiple outcrops that daylight in glacial talus containing high-grade gold and
polymetallic mineralization with grab samples assaying up to 40 g/t AuEq. The zone is defined by veining and
altered host rock over an area of 190m by 20m and 160m vertical relief that remains open. To date 84% of samples
taken assayed greater than 1.0 g/t gold confirming the continuity of the widespread gold mineralization. (Link to
Image).
° 2019 Channel Cut within the Goldilocks zone consisted of a 3.75m cut to partially test a 10.5m wide section
of exposed outcrop. Assays returned 7.86 g/t AuEq over 3.75m true width. This channel started in 9.01 g/t
AuEq and ended in 10.79 g/t AuEq leaving the zone open. This zone also contains gold mineralization confirmed
in the host rock (pyritic chlorite schist) that assayed 1.13 g/t AuEq over a 1 meter interval within the 3.75 meter channel
(Link to 2019 Video).
• Yellow Brick Road Zone Drill Ready
° Located 500 meters south of Goldilocks, the Yellow Brick Road Zone has been traced for 170 meters, and remains
open (Link to 2018 Video).
° Channel samples over 0.3 metre assay up to 28.7 g/t Au, 410 g/t Ag, 1.4 % Cu, and 6 % Pb (Link to Image).
° The Yellow Brick Road Zone contains pyrite-chalcopyrite-galena bearing, vuggy quartz veins that are up to
1 meter wide with chip samples up to 24.55 AuEq over 1 meter (20.6 g/t Au, 329 g/t Ag, 0.02 % Pb) and with
grab samples assaying up to 55.80 g/t Au and 2340 g/t Ag. The veins are encompassed by a pyritic and quartz-
sericite-pyrite alteration envelope that is up to 30 cm wide.
The high-grade gold and silver mineralization confirmed on surface at these two discovery zones located 500 meters apart
coupled with multiple other newly discovered gold mineralized outcrops in the surrounding area provides strong drill targets to
test for a large common gold mineralizing system at depth. Drilling is recommended to outline the full extent of the surface
gold mineralization both along strike and to depth. (Link to Map).
Host rock is variably altered with zones of pervasive chloritization, oxidized pyritization, and local clay alteration that contain
gold and sliver mineralization. The Yellow Brick Road Zone is pyrite-chalcopyrite-galena bearing, vuggy quartz veins are up to 1
meter wide with an encompassing pyritic and quartz-sericite-pyrite alteration envelope that is up to 30 cm wide. Off-shoot
veinlets form local breccia and stock work in the altered wall rock. Sulphides occur as coarse seams and dissemination
within quartz vein material.
Table 1: Goldilocks Zone Channel Results 2019
Sample # Zone Rock Type Length
(metres)
Gold
(g/t)
Silver
(g/t)
Copper
%
Lead
%
Gold
Eq3
(g/t)
W491634 GoldiLocks Quartz Vein 0.8 7.37 143 0.02 0.01 9.01
W491635 GoldiLocks Quartz Vein 0.09 8.71 173 0.01 0.00 10.68
W491636 GoldiLocks Pyritic Chlorite
Shichst 1.00 0.96 28.4 0.01 0.04 1.31
W491637 GoldiLocks Quartz Vein 1.05 7.91 245 0.08 0.06 10.79
Channel
Weighted
Averages
GoldiLocks Quartz vein and
Host Rock 3.75 6.13 148 0.03 0.03 7.86
3AuEq metal values are calculated using: Au $1574.05/oz, Ag $17.78/oz, Cu $2.56/lb, Pb $0.97/Ib Prices on February 11 th
2020
Table 2: Gold Star Property Highlights from 2017 and 2018 ( DSM Oct 30th 2018)
Sample # Zone Channel/Chip/Grab1 Length
(metres)
Gold
(g/t)
Silver
(g/t)
Copper
%
Lead
%
Gold
Eq3
(g/t)
W496968 Yellow Brick Road Grab 29.60 845.00 0.30 0.55 40.47
W497407 Yellow Brick Road Channel 0.30 28.70 410.00 1.40 6.00 38.88
W496863 Goldilocks Chip 1.00 20.60 329.00 0.00 0.02 24.55
W496860 Goldilocks Grab 11.70 313.00 0.09 0.03 15.60
W497406 Yellow Brick Road Channel 0.30 11.10 260.00 1.97 1.28 18.00
W496862 Goldilocks Chip 1.50 9.34 353.00 0.05 0.02 13.65
W496970 Yellow Brick Road Float 6.82 141.00 0.54 0.05 9.40
W496969 Yellow Brick Road Grab 5.33 113.00 0.20 0.52 7.27
W386012 Yellow Brick Road Grab 4.90 74.10 0.05 0.46 6.10
W496920 Goldilocks Chip 1.00 4.28 133.00 0.00 0.00 5.87
W497408 Yellow Brick Road Channel 0.27 3.91 89.40 0.05 0.05 5.08
W496922 Goldilocks Grab 2.99 761.00 0.96 0.42 13.84
W496861 Goldilocks Grab 2.65 52.00 0.00 0.03 3.29
W496865 Goldilocks Grab 2.55 44.30 0.01 0.02 3.11
W496971 Yellow Brick Road Chip 1.00 2.45 48.50 0.25 0.03 3.44
W496921 Goldilocks Grab 1.42 32.50 0.00 0.09 1.85
W496924 Goldilocks Chip 0.50 1.15 27.00 0.00 0.00 1.47
W496919 Goldilocks Chip 1.50 0.77 19.10 0.00 0.00 0.99
W497409 Yellow Brick Road Channel 0.75 0.26 2.70 0.01 0.01 0.31
W496864 Goldilocks Grab 0.12 5.30 0.00 0.00 0.18
W3875154 Yellow Brick Road Grab 55.80 795.00 1.71 12.30 74.28
W3875134 Yellow Brick Road Grab 21.40 339.00 0.66 4.85 28.97
W3875174 Yellow Brick Road Grab 16.70 212.00 0.17 0.40 19.71
W3875164 Yellow Brick Road Grab 16.20 267.00 1.25 2.62 22.71
W3875124 Yellow Brick Road Grab 0.67 2340.00 1.67 0.11 31.39
W3875144 Yellow Brick Road Grab 9.28 152.00 0.07 0.13 11.28
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
2True thickness of mineralized zone not known
3AuEq metal values are calculated using: Au $1222.9/oz, Ag $14.63/oz, Cu $2.8499/lb
42017 Sample Data
Link to image gallery
Based on excellent results from very limited exploration, follow up exploration program is strongly recommended including
inaugural drilling, additional mapping, prospecting, bedrock sampling, ground geophysics, and Lidar.
Extensive regions of snowpack and glacial recession also provide large areas with strong gold potential that remain
unexplored. Follow up work and drilling will focus on expanding the known extent of mineralization at the Yellow Brick Road
and Goldilocks zones both along strike and to depth, which will lead to the understanding and modeling of this extensive gold-
rich mineralizing system. Follow-up prospecting of the vast unexplored regions of the Gold Star Property adds to future
discovery potential.
The Gold Star Property is situated on the central coast of BC and is located approximately 5.5 km from logging access roads
and lies within 4.5 km of tidewater, which provides for good access to infrastructure.
Effective immediately, Mr. Richard Groome has resigned from the Board of Directors of Goliath. The Board would like to thank
Mr. Groome for his contributions during his tenure and we wish him all the best on his future endeavours.
The Company also wishes to announce it has terminated its property option agreements to acquire the Bingo and Copperhead
properties.
Qualified Person
Rein Turna P. Geo is the qualified person as defined by National Instrument 43- 101, for Juggernaut Exploration 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.
About Goliath
Goliath Resources Limited is a project generator of precious metals projects focused in the prolific Golden Triangle and
surrounding area of northwestern British Columbia.
Further information regarding Goliath Resources Limited can be found at:
www.goliathresourcesltd.com
Contact Information:
Roger Rosmus
Chief Executive Officer
+1-416-488-2887 x222
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