Goliath/DSM Cuts 12 Metres of 6.00 g/t AuEq at Newly Discovered Orogenic Hinge Zone on Gold Standard Property
Goliath/DSM Cuts 12 Metres of 6.00 g/t AuEq at Newly Discovered Orogenic
Hinge Zone on Gold Standard Property
TORONTO, Oct. 15, 2019 -- Goliath Resources Ltd. (TSX-V: GOT) (FSE: B4IE) (OTCQB: GOTRF) (the “Company or
“Goliath”); is pleased to report the newly identified Goldzilla Hinge Zone, the Hinge measures up to 20 meters wide and can
be traced for 100m along strike, contains broad high grade gold mineralization and is drill ready. The hinge zone is part of the
Goldzilla orogenic vein system that has been traced for 800 metres with a vertical relief of 300 metres and remains open to the
South East. Channel cut grades on the Hinge Zone assayed up to 5.86 grams per ton (g/t) gold and 6.00 g/t AuEq over 12
metres including 5 metres of 13.03 g/t AuEq and 1 metre of 31.66 g/t AuEq true width. The Goldzilla Hinge Zone is located on
the Gold Standard property on the central coast of British Columbia, 4 km from major infrastructure.
The DSM Syndicate (DSM) is a private precious metal project generator in British Columbia that owns a total of six properties
inclusive of the Gold Standard Property. All six properties are lien free with no cash payment requirements or underlying
NSR’s. Goliath is a 10% shareholder of DSM and is entitled to receive its pro-rata share of all economics (cash,
NSR, shares, etc.) in relation to any transaction(s) completed with any of the six DSM properties.
Mr. Roger Rosmus, President and CEO, states: “We are extremely pleased with the results from the program with the
discovery of the Goldzilla Hinge Zone and several other high-grade orogenic gold veins on Gold Standard. These orogenic gold
systems are commonly mined to depths of 1 to 3 kilometres. This geologic setting and model have proven to host
several world class multi million-ounce deposits. The Gold Standard property has excellent potential for additional discoveries
both on surface and at depth. It has already garnered the interest of several miners and institutions alike confirming the
significance of this discovery. We also look forward to announcing our 2019 exploration and drilling and results once
received and interpreted from our 100% controlled Golddigger and Lucky Strike properties.”
2019 HIGHLIGHTS OF NEWLY IDENTIFIED GOLDZILLA HINGE ZONE:
• Through detailed mapping and surficial sampling, a 100 m by up to 20 m wide Hinge Zone has been
discovered containing high grade gold mineralization of up to 6.00 g/t AuEq over 12 m including 5 m of 13.03
g/t AuEq and 1 m of 31.66 AuEq ( Schematic of Hinge Zone ). This Hinge Zone is part of the Goldzilla orogenic
system that is traced on surface for 800 m with 300 m of vertical relief and remains open;
• The Goldzilla Hinge zone target is drill ready, the planned inaugural drill program will target the gold
mineralization discovered at surface and trace it to depth; and
• Drilling will be designed to unlock the full potential of this high grade orogenic vein system and to
understand the relationship between multiple other large en-echelon gold-bearing veins at depth ( Main
Video - Click Here ).
HIGHLIGHTS OF OTHER OROGENIC VEINS ON GOLD STANDARD:
• The Leviathan vein has been traced on surface for 500 m with 50 m of vertical relief. and remains open.
○ Channel sampling from 2019 returned grades of up to 3.65g/t AuEq over 3 m including 10.55g/t AuEq over 1
m true width. ( Leviathan Video – Click Here ) (Leviathan Schematic );
• The Kraken Vein has been traced on surface for 1000 m with 520 m of vertical relief and remains open.
○ Channel samples from 2019 returned grades of 29.48g/t AuEq over 0.7 m and a 1m chip taken 305m along
strike grading 6.52g/t Au. (Kraken Video – Click Here ) (Kraken Schematic );
• The East Vein is a newly discovered large vein system with grab samples up to 7.22 g/t Au and a 3 m chip
sample grading 5.75 g/t Au. The discovery of this vein system has increased the Big Show High Strain zone
from 2 km by 1 km to 4.6 km by 1.5 km. (East Vein Images ); and
• Several large en-echelon gold-bearing orogenic veins have been found within the Big Show high strain zone,
that has been expanded in 2019 from 2 km by 1 km, to 4.5 km by 1.5km, containing multiple large en-echelon
gold-bearing mineralized quartz veins and shear zones. Based on this new discovery, the claim block was expanded
from 1774 Ha to 4533 Ha.
Approximately 67 % of Canadian gold production comes from orogenic systems in world class geologic settings, with
examples including the nearby Bralorne Pioneer Camp in British Columbia (4.17 Moz) with depths to ∼2km, and many regions
within the Canadian shield including Kirkland Lake (>40 Moz), Timmins (>70 Moz), Val d’Or/Noranda (>69 Moz) and Red Lake
gold camps (>29 Moz). These gold deposits typically contain average mining grades of ~5 gpt Au to ~15 gpt Au, similar to
what is found at the Gold Standard property. Other orogenic systems are currently being explored such as Great Bear
Resources Dixie project that confirm similar grades in drilling (Orogenic Model - Click Here ).
THE 2019 EXPLORATION PROGRAM:
The 2019 program, which included detailed mapping, whole rock geochemistry, channel cutting, drone surveys and
prospecting, was designed to expand on the positive results of previous years and to delineate drill targets. This program
collected 365 rock samples on the Gold Standard property, in which 78 have gold grades between 0.25 g/t Au and 30.6 g/t Au.
This exploration program has further confirmed the extent of gold mineralization within multiple quartz veins and
shear zones, within the Big Show High Strain confirming an extensive orogenic gold system within the property .
This mineralized orogenic system is part of a regional high strain zone, a brittle and ductile, sub-vertical shear zone system
that is proximal to the boundary between the Intermontane and Insular superterranes, demarked by the Coast Shear Zone.
Localization of high strain zones within the system are associated with sheeted, oxidized, sulphide-bearing quartz veins and
shear zones that have been identified in outcrop with a strike length of 4.6 km and 1.5 km wide, which remains open in all
directions. Discrete gold bearing quartz veins and shears trend up to ~1 km in strike with 500 m of vertical extent and are up to
15 m in width. They host variable amounts of gold mineralization, oxidized pyrite and disseminated pyrite with chalcopyrite.
Table 1 – Gold Standard Property 2019 Channel Interval Highlights
Channel
ID/
Sample #
Sample
Type
Interval
(m)
Gold
(gpt)
Silver
(g/t)
Copper
(g/t)
Lead
(g/t)
Zinc
(g/t)
Gold Eq
(gpt)
Vein
System
Vein System 1 Goldzilla
GZ1 Channel 12 5.81 14.18 125.67 2.08 38.00 6.00 Hinge Zone
Including Channel 5 12.66 30.20 166.60 2.60 12.20 13.03 Hinge Zone
Including Channel 1 30.60 85.30 406.00 6.00 7.00 31.65 Hinge Zone
Including Channel 1 21.00 28.10 77.00 1.00 2.00 21.34 Hinge Zone
GZ2 Channel 8.3 1.04 3.29 104.75 1.48 50.45 1.09 Hinge Zone
Including Channel 4 1.52 4.28 85.75 2.00 50.50 1.58 Hinge Zone
Including Channel 1 2.93 7.90 139.00 4.00 82.00 3.04 Hinge Zone
GZ3 Channel 4 3.47 14.50 93.75 2.00 69.75 3.65 Hinge Zone
Including Channel 1 10.60 48.00 98.00 4.00 1.00 11.17 Hinge Zone
GZ4 Channel 3.7 3.45 3.45 24.51 1.00 4.68 3.59 Hinge Zone
Including Channel 1 11.20 40.20 30.00 1.00 1.00 11.67 Hinge Zone
Vein System 2 Kraken
KK1 Channel 0.7 1.52 22.50 138.00 5.00 9.00 5.94 Kraken
KK2 Channel 0.7 23.40 129.00 154.00 38.00 4.00 24.93 Kraken
KK3 Channel 0.8 1.90 2.00 4.00 1.00 3.00 1.92 Kraken
KK4 Channel 0.9 2.43 2.70 22.00 1.00 121.00 2.47 Kraken
Vein System 3 Leviathan
LV1 Channel 3 3.30 3.30 1789.33 4.33 32.33 3.65 Leviathan
Including Channel 1 9.59 32.60 4960.00 11.00 18.00 10.55 Leviathan
1. AuEq metal values are calculated using Au $1496.72/oz, Ag $17.63/oz, Cu $2.55/lb, Pb $0.95/ln, Zn $1.04lb. All values are
reported in USD and do not consider metal recoveries.
Table 2- Gold Standard Property 2019 Chip, Grab and Channel Highlights 1
Sample # Sample
Type
Sample
length (m) Au g/t Ag g/t Cu g/t Pb g/t Zn g/t Vein System
W491707 Channel 1.00 30.60 85.3 406 6 7 Goldzilla
W387311 Channel 0.68 23.40 129.0 154 38 4 Kraken
W491709 Channel 1.00 21.00 28.1 77 1 2 Goldzilla
W491499 Channel 1.00 11.20 40.2 30 1 1 Goldzilla
W491485 Channel 1.00 10.60 48.0 98 4 1 Goldzilla
W491873 Channel 1.00 9.59 32.6 4960 11 18 Leviathan
A0601121 Grab 7.22 6.2 8 15 4 East vein
W491706 Channel 1.00 6.71 19.0 124 2 3 Goldzilla
A0601375 Chip 1.00 6.52 10.7 1500 1 73 Kraken
A0601119 Chip 3.00 5.75 11.4 47 1 3 East vein
W387306 Channel 0.70 5.66 22.5 138 5 9 Kraken
A0601114 Grab 3.47 28.9 458 25 3 Leviathan
W491484 Channel 1.00 3.20 9.2 219 2 57 Goldzilla
W491462 Channel 1.00 2.93 7.9 139 4 82 Goldzilla
A0601379 Grab 2.79 7.4 450 13 2 East vein
W491711 Channel 1.00 2.70 11.0 114 3 10 Goldzilla
W491471 Channel 1.00 2.46 13.8 20 1 18 Goldzilla
W387327 Channel 0.91 2.43 2.7 22 1 121 Goldzilla
W491708 Channel 1.00 2.28 7.6 112 1 39 Goldzilla
W387326 Channel 0.83 1.90 2.0 4 1 3 Goldzilla
A0601101 Grab 1.89 2.6 26 1 5 Kraken
W491482 Channel 0.90 1.82 5.9 49 1 1 Goldzilla
W491464 Channel 1.00 1.55 4.4 97 2 83 Goldzilla
A0601278 Grab 1.53 17.3 2410 26 29 Other
A0601102 Grab 1.53 6.1 1355 1 9 Kraken
W491882 Channel 1.10 1.47 6.2 22 4 8 Goldzilla
W491460 Channel 1.00 1.45 3.9 18 1 1 Goldzilla
A0601255 Grab 1.18 2.2 123 1 5 Pheonix
A0601380 Grab 1.17 1.8 20 2 5 East vein
W491497 Channel 0.70 1.13 3.0 31 1 19 Goldzilla
A0601107 Grab 1.11 10.1 6750 1 91 Titanoboa
A0601360 Grab 1.04 39.0 3530 1 26 Titanoboa
A0601302 Grab 1.00 3.9 39 1 19 Goldzilla
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
Table 3 – Gold Standard Property 2018 Chip, Grab and Channel highlights
Excerpt from November 6th, 2018 News release2
Sample # Channel/Chip/Grab 2 Length
(metres)3
Gold
(g/t)
Silver
(g/t)
Copper
%
Gold
Eq4
(g/t)
Vein
System
Number
Vein
System
Name
W388888 Grab 110.00 934.00 0.42 121.84 2 Goldzilla
W496703 Grab 96.80 429.00 2.97 106.68 3 Leviathan
W495957 Chip 0.50 71.80 64.40 0.00 72.57 1 Kraken
W496900 Grab 40.50 117.00 0.70 43.02 3 Leviathan
W496949 Chip 0.50 39.00 300.00 0.24 42.96 2 Goldzilla
W496702 Grab 31.90 112.00 0.72 34.39 2 Goldzilla
W497438 Channel 0.50 31.00 83.90 0.00 32.00 2 Goldzilla
W386026 Chip 26.90 70.40 0.03 27.79 3 Leviathan
W495976 Grab 21.80 96.50 0.07 23.07 3 Leviathan
W494953 Chip 0.50 19.15 49.10 0.02 19.77 2 Goldzilla
W386031 Grab 17.40 75.40 0.66 19.36 3 Leviathan
W495987 Channel 0.25 16.15 72.20 0.37 17.61 3 Leviathan
W496948 Chip 0.50 15.85 118.00 0.11 17.44 2 Goldzilla
W495975 Grab 13.35 195.00 8.97 30.02 3 Leviathan
W386024 Chip 2.00 10.80 85.50 0.02 11.85 2 Goldzilla
W496898 Grab 9.20 31.20 0.00 9.57 2 Goldzilla
W500355 Grab 8.33 20.00 0.00 8.57 2 Goldzilla
W497436 Channel 0.22 6.87 48.70 0.10 7.61 2 Goldzilla
W495959 Chip 0.50 5.38 27.10 0.00 5.70 1 Kraken
W495955 Chip 0.50 4.94 6.20 0.01 5.03 1 Kraken
W386028 Float 4.20 21.00 0.07 4.56 3 Leviathan
W495958 Chip 0.50 4.19 8.40 0.00 4.29 1 Kraken
W386027 Float 3.68 28.60 0.70 5.14 3 Leviathan
W495983 Channel 0.40 3.46 22.40 0.00 3.73 3 Leviathan
W496701 Grab 3.30 18.50 0.59 4.46 3 Leviathan
W495954 Chip 0.50 3.24 14.20 0.01 3.43 2 Goldzilla
W497437 Channel 0.24 2.97 8.40 0.00 3.07 2 Goldzilla
W495979 Channel 0.50 2.93 11.60 0.30 3.55 3 Leviathan
W495981 Channel 0.30 2.90 14.00 0.01 3.08 3 Leviathan
W495984 Channel 0.50 2.51 12.90 0.03 2.71 3 Leviathan
W495952 Chip 0.50 2.38 12.10 0.00 2.52 2 Goldzilla
W500354 Grab 2.38 9.40 0.00 2.49 2 Goldzilla
W497446-7 Channel 0.44 2.22 6.24 0.02 2.33 2 Goldzilla
W495966 Chip 1.00 2.14 40.80 0.85 3.99 4 Titanoboa
W495968 Chip 0.50 2.12 11.90 0.58 3.19 4 Titanoboa
W495963 Grab 1.95 42.10 0.67 3.52 4 Titanoboa
W497444 Channel 0.22 1.89 5.00 0.00 1.95 2 Goldzilla
W495985-6 Channel 1.50 1.88 22.15 0.89 3.57 3 Leviathan
W496994 Grab 1.75 5.50 0.00 1.82 5 Hydra
W495988 Channel 1.00 1.71 23.80 1.70 4.71 4 Titanoboa
W496893 Grab 1.69 14.30 4.22 8.60 2 Goldzilla
W491657 Grab 1.65 3.80 0.00 1.70 2 Goldzilla
W497440 Channel 0.93 1.61 4.70 0.06 1.76 2 Goldzilla
W496894 Grab 1.46 7.20 0.71 2.68 2 Goldzilla
W496950 Chip 0.50 1.43 9.10 0.12 1.73 2 Goldzilla
W491656 Grab 1.39 5.00 0.00 1.45 2 Goldzilla
W497439 Channel 0.50 1.32 4.40 0.01 1.39 2 Goldzilla
W497435 Channel 0.44 1.31 4.60 0.00 1.37 2 Goldzilla
W497443 Channel 0.22 1.12 3.10 0.00 1.16 2 Goldzilla
W497433 Channel 0.46 1.11 215.00 0.00 3.68 2 Goldzilla
W500353 Grab 1.03 14.70 0.14 1.43 2 Goldzilla
W495977-8 Channel 1.50 0.86 2.60 0.07 1.00 3 Leviathan
2Grab 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
3True thickness of mineralized zone not known
4AuEq metal values are calculated using: Au $1222.9/oz, Ag $14.63/oz, Cu $2.8499/lb
Based on very positive results on the Gold Standard property, a follow-up exploration drilling program is strongly
recommended. The inaugural drill program will be designed to test the Goldzilla Hinge Zone both along strike and to depth.
The property is in an alpine area with abundant bedrock exposure due to recent glacial and snowpack abatement and is
located only 4 km from major infrastructure and 1 km to tidewater and logging roads, providing excellent cost-
effective exploration.
The Gold Standard property is an original discovery area located in a world class geological setting that remains largely
unexplored, providing tremendous untapped gold potential.
GEOLOGIC MODEL - OROGENIC GOLD SYSTEM:
• The 2019 exploration program has further confirmed the extent of gold mineralization within multiple quartz
veins and shear zones, within the Big Show High Strain zone confirming an extensive orogenic gold system
within the Gold Standard property;
• The prolonged faulting and shearing within this structural corridor on the Gold Standard property provided
extensive conduits for mineralizing fluids and favourable sites for mineralization. Within the Big Show Zone,
veins occur in an en-echelon pattern to the regional north-northwest orientation of the major shear zones.
These orogenic characteristics are consistent with gold-bearing mineralized veins and shear zones;
• Orogenic Gold Systems are often deep rooted and are mined to depths of 1 to 3 kilometres ( Orogenic Model
1 - Click Here); and
• Approximately 67 % of Canadian gold production comes from this world class geologic setting, with
examples including the nearby Bralorne Pioneer Camp in British Columbia (4.17 Moz) with depths to ∼∼∼∼2km,
and many regions within the Canadian shield including Kirkland Lake (>40 Moz), Timmins (>70 Moz), Val
d’Or/Noranda (>69 Moz) and Red Lake gold camps (>29 Moz). These gold deposits typically contain average
mining grades of ~5 gpt Au to ~15 gpt Au, similar to what is found at the Gold Standard property. Other
orogenic systems are currently being explored such as Great Bear Resources Dixie project that confirm
similar grades in drilling ( Orogenic Model 2 - Click Here ).
The DSM Syndicate (DSM) is a private precious metal project generator in British Columbia that owns a total of six properties
inclusive of the Gold Standard Property. All six properties are lien free with no cash payment requirements or underlying
NSR’s. Goliath is a 10% shareholder of DSM and is entitled to receive its pro-rata share of all economics (cash,
NSR, shares, etc.) in relation to any transaction(s) completed with any of the DSM properties. Goliath also has the
First Right of Refusal on the Gold Crest and Gold Star properties until March 30, 2020.
Qualified Person
Rein Turna, 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, B.C. 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, B.C. The pulps were also assayed using multi-element aqua regia digestion at
ALS Canada Ltd.'s lab in Vancouver, B.C. The coarse reject portions of the rock samples, as well as the pulps, were shipped
to DSM Syndicate's storage facility in Terrace, B.C. 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.
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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