GOLIATH DISCOVERS EXTENSIVE MINERALIZATION IN MULTIPLE OUTCROPS OVER 500 METERS ON THE ICEFIELDS THAT REMAINS WIDE OPEN - GOLDEN TRIANGLE, B.C. 2023 Icefields Exploration Highlights: Three (3) new zones consisting of sulphide -rich breccia, stockwork and veins in shear zones have
GOLIATH DISCOVERS EXTENSIVE MINERALIZATION IN MULTIPLE OUTCROPS OVER 500
METERS ON THE ICEFIELDS THAT REMAINS WIDE OPEN - GOLDEN TRIANGLE, B.C.
2023 Icefields Exploration Highlights:
Three (3) new zones consisting of sulphide -rich breccia, stockwork and veins in shear zones have
been discovered on the icefields claim blocks of the Golddigger property and remain open (see map
below):
◦ NEW TREASURE ISLAND DISCOVERY - DRILL READY: Treasure Island consists of new mineralized
bedrock outcrops that have been exposed by glacial melt with multiple shear -hosted,
polymetallic zones over a 500 m eter long NW-SE trend that remains open in all directions.
Mineralized zones are up to 20 m eters wide with sections of massive chalcopyrite and pyrite
occupying shears and forming sulphide rich mineralization at structural intersections and
embayment zones within strongly folded and sheared mudstone, siltstone and tuff units. This
discovery is on trend with the past producer Porter Idaho Mine located 6 kilometers to the
west. The area is currently being channel cut and mapped in preparation for 2024 drilling (see
images below).
◦ NEW METALLICA DISCOVERY - DRILL READY: The Metallica Zone is situated 29 kilometers east
of Stewart on the northeast portion of the icefields. Multiple oxidized quartz-carbonate veins,
stockworks and lenses have been identified within altered andesite with 1 - 15 % sulphides.
Zones up to 4 meters wide contain pyrite with lesser chalcopyrite, sphalerite and galena over
a 300 meter by 400 meter area (see image below).
◦ NEW FULL CONTACT DISCOVERY - DRLL READY: Full Contact is located 19 kilometers northwest
of the Surebet Zone. A 1.3-kilometer-long gossan in an area of glacial abatement was
discovered with multiple silicified zones, quartz veins and shears. The area shares the same
geological setting and alteration as Surebet with mineralization forming around the volcanic –
sedimentary contact. Mineralization consisting primarily of pyrite, with lesser arsenopyrite and
sphalerite disseminated within silicified zones, concentrating in veins and fractures (see image
below).
The new discoveries show the immense untapped discovery potential remaining on the Golddigger
property. With a total of just over 8 months of boots on the ground at the Golddigger property to
date, including the current season, we are likely just seeing the tip of the iceberg.
More than 75 new targets with excellent additional discovery potential were generated on the
Golddigger property based on geochemical data, geophysical surveys, structural maps, satellite
imagery and satellite spectral alteration data, that will be prospected, mapped, and sampled during
the 2023 season in preparation for drilling.
Prospecting and mapping are ongoing on the entire property which encompasses 56 km of the Red
Line in an area where recent snowpack and glacial abetment has provided extensive zones of newly
exposed outcrop in a world-class geological setting (see tenure map below).
2023 Surebet Exploration Highlights:
Five (5) new zones consisting of strongly sulphide -mineralized veins and shear -zones directly
connected to the Surebet system have been discovered on the Golddigger property and remain
open (see map below):
◦ Kahuna: 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 zone,
two additional new polymetallic quartz-sulphide veins were discovered with up to 10 -meter-
wide blow-outs containing abundant galena , sphalerite and chalcopyrite . This zone remains
open and will be drill tested in 2023.
◦ Full House: Multiple polymetallic quartz-sulphide veins and shear zones with similar Surebet-
style mineralization consisting of semi -massive to massive sphalerite and galena were
discovered within a quartz -diorite intrusion located 5 kilometers northwest of the Surebet
Zone. The stack of mineralized veins and shear zones has an average width of 5 to 10 meters,
channel samples on Payday up to 3 ounces per tonne gold and remains open. Pending assay
results, Full House will be drill tested in 2024.
◦ Outpost: 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 sphalerite, galena and chalcopyrite rich veins and breccia zones have been
traced over 700 meters in outcrop and range between 5 and 50 meters in thickness and remain
open. Exploration is underway in preparation for 2023 drilling.
◦ Humdinger: The Bonanza Shear was 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 consisting of stringers and aggregates of sphalerite,
galena and chalcopyrite 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. The new Humdinger
Zone will be drill tested during the 2023 season.
◦ Lower Surebet on Real Deal fault: The Bonanza Shear was traced for 400 meters on surface
southwest of the Surebet Zone and extend s 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.
The new Lower Surebet Zone will be drill tested during the 2023 season.
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) greatly expanding the footprint of the Surebet gold system.
Toronto, Ontario – August 28, 2023 – Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF)
(the “Company” or “Goliath”) is pleased to report the discovery of 3 extensive new mineralized zones
consisting of sulphide -rich breccia, stockwork and veins in shear zones on the icefields claim blocks on its
100 % controlled Golddigger property (the “Property”), Golden Triangle, B.C. These new discoveries include
Treasure Island, Metallica, and Full Contact all of which remain open and clearly demonstrate the enormous
untapped discovery potential on the Golddigger property. Prospecting and mapping are ongoing on the entire
property which covers 56 km of the Red Line in an area where recent snowpack and glacial abetment has
provided extensive zones of newly exposed outcrop in a world-class geological setting.
Icefields Exploration
Treasure Island
Treasure Island consists of new mineralized bedrock outcrops that have been exposed by glacial melt with
multiple shear-hosted, polymetallic zones over a 500 m long NW-SE trend that remains open in all directions.
Mineralization follows the same NW-SE trend as nearby deposits including the past producing Porter Idaho
mine (6 km to the west, produced 27,268 tonnes at an average of averaged 0.986 g/t Au, 2692.1 g/t Ag,
5.08 % Pb, 3.853 % Zn and 0.101 % Cu between 1922 and 1950) and Red Mountain deposit (19 km to the
east, with a total inferred resource of 405,400 tonnes grading 5.32 gpt Au and 7.33 gpt Ag). Mineralized zones
on Treasure Island range up to 20 m wide with sections of massive chalcopyrite and pyrite occupying shears
and forming phenomenal sulphide ri ch mineralization at structural intersections and embayment zones
within strongly folded and sheared mudstone, siltstone, and tuff units. Mineralization also occurs
disseminated in silicified and deformed felsic dykes. The area was discovered during prospecting in 2023 and
is currently being channel cut and mapped in preparation for 2024 drilling (see map and images above).
Metallica
The Metallica Zone is situated 29 kilometers east of Stewart on the northeast portion of the icefields. Multiple
oxidized quartz-carbonate veins, stockworks and lenses have been identified within altered andesite with 1 -
15 % sulphides. Zones up to 4 meters wide contain pyrite with lesser chalcopyrite, sphalerite and galena over
a 300 meter by 400 meter area (see map and images above).
Full Contact
Full Contact is located 19 kilometers northwest of the Surebet Zone. A 1.3 kilometers long gossan in an area
of glacial abatement was discovered with multiple silicified zones, quartz veins and shears. The area shares
the same geological setting and alteration as Surebet with mineralization forming around the volcanic –
sedimentary contact characterized by mineralization consisting primarily of pyrite, with lesser arsenopyrite
and sphalerite disseminated within silicified zones, concentrating in veins and fractures (see map and images
above).
Surebet Exploration
Kahuna
Exploration, prospecting, and mapping in the newly discovered Kahuna Zone has delineated a new 600-meter
strike extension of the Bonanza Shear defining the contact between sedimentary and volcanic units 2
kilometers to the Northeast of the known Surebet Zone along the eastern part of the North Slope. Within the
zone, two additional new polymetallic quartz-sulphide veins were discovered with up to 10-meter-wide blow-
outs above and below the Bonanza Shear that extend for over 100 meters strike and dip s gently to the
southwest containing abundant galena, sphalerite, and chalcopy rite in the form of semi -massive
disseminations, stringers and veinlets. These veins together with the Bonanza Shear currently remain open
and will be drill tested with a series of newly designed holes for the 2023 season at the Kahuna Zone (see
map above).
Full House
The Full House Zone is located 5 kilometers northwest of the Surebet Zone in an area that extends from
Hastings Arm in the west to the Payday Showing in the east. Multiple polymetallic quartz-sulphide veins and
shear zones with similar Surebet-style mineralization consisting of semi -massive to massive aggregates,
stringers and veinlets of galena, sphalerite and pyrrhotite, have been discovered within a quartz-diorite
intrusion (Bulldog Creek pluton?). The stack of mineralized veins and shear zones extends for more than 3.5
kilometers with most structures striking east and moderately dipping to the north. Mineralization at Full
House Main located in the eastern part of the Full House Zone has been mapped for over 700 meters of strike
in a north-south direction with an average width of 5 to 10 meters and is ready to be drill tested in 2024.
North of Full House Main, a grab sample from the Payday showing from 2018 assayed 3 oz/t gold (113 g/t
Au). New channel sampling undertaken during the 2023 field season identified several occurrences of visible
gold in the vein. Currently the entire Full house Zone remains open in all directions and is being prepared for
drilling in 2024 (see map above).
Outpost
The new Outpost Zone is located 5 kilometers to the southeast of the Surebet Zone 3 kilometers to the west
of, and on trend with, the Humdinger Zone. In 2023 multiple polymetallic quartz-sulphide veins, stockworks,
and breccias have been discovered within sedimentary and volcanic rocks. Mineralization in these veins
consists of disseminations, seams and semi-massive sections of galena, sphalerite, arsenopyrite, pyrite and
pyrrhotite trending northeast - southwest. On the new Postman Creek showing, a 50-meter-wide polymetallic
quartz-sulphide stockwork with considerable amounts of galena, sphalerite , chalcopyrite, pyrite and
pyrrhotite was discovered within an andesite unit. The Postman Creek showing is currently being prepared
to be drill tested during the 2023 season. Four (4) additional large and extensive polymetallic quartz-sulphide
breccias with parallel vein sets h ave been discovered in sedimentary units. Individual vein and breccia sets
have been traced over 700 meters in outcrop and range between 5 and 20 meters in thickness contain ing
notable volumes of galena, sphalerite , arseno pyrite, pyrite and pyrrhotite, and remain open. Current
exploration consisting of channel cutting, prospecting, and mapping is underway to prepare the site to be
drill tested in 2023 (see map above).
Humdinger
To the southeast of the Surebet Zone below Pad A, the Bonanza Shear was traced for 400 meters on surface
towards the west then south along the Real Deal Zone and projected to continue 1.5 kilometers south across
the valley under the new Humdinger Zone. The new Humdinger Zone is characterized by multiple polymetallic
quartz-sulphide veins and stockwork with abundant galena, sphalerite, and chalcopyrite occurring as strong
disseminations, larger blebs and clots, concentrating in fractures or along bedding planes . The newly
discovered mineralized vein and stockwork zones have been traced in bedrock exposures for 2.4 kilometers
and dip gently to the south. The zone has a width of approximately 3 meters in the w est and increases in