Goliath Intercepts 10.94 gpt AuEq Over 9.70 Meters in the Bonanza Shear Significantly Increases Volume and Average Grade of the Multi-Layered High-Grade Surebet Gold System Drill Highlights:
Goliath Intercepts 10.94 gpt AuEq Over 9.70 Meters in the Bonanza Shear
Significantly Increases Volume and Average Grade of the
Multi-Layered High-Grade Surebet Gold System
Drill Highlights:
● SUREBET ZONE HIGHLIGHTS
◦ The mineralization model has been updated with the latest assay results , increasing the
average grade by 43%, and a 24 % increase in volume, from 5,500,000 m 3 volume at 6.31
gpt AuEq (previously reported) to a volume of the Surebet Zone to 6,800,000 m3 with an
average grade of 9.04 gpt AuEq, which remains open.
◦ The Surebet Zone, hosted in the Hazelton Sediments , has been intersected in 106 drill
holes to date with broad intervals of quartz -sulphide mineralization, 92% of which have
intersected gold mineralization.
◦ GD-23-220 intersected the Surebet Zone and assayed 13.24 gpt AuEq (10.05 gpt Au and
154.71 gpt Ag) over 5.10 meters, including 21.74 gpt AuEq (16.51 gpt Au and 253.41 gpt
Ag) over 3.10 meters.
◦ GD-23-221 intersected the Surebet Zone and assayed 7.91 gpt AuEq (7.44 gpt Au and 22.40
gpt Ag) over 7.15 meters within 4.43 gpt AuEq (4.16 gpt Au and 12.87 gpt Ag) over 13.00
meters.
◦ GD-23-130 intersected the Surebet Zone and assayed 4.66 gpt AuEq (3.53 gpt Au and 55.29
gpt Ag) over 5.70 meters, including 6.25 gpt AuEq (5.12 gpt Au and 55.36 gpt Ag) over 3.70
meters.
◦ Multiple drill holes ( previously reported ) with high -grade gold -silver mineralization
intersected the Surebet Zone including GD -23-157 assaying 21.08 g/t AuEq (18.95 g/t Au
and 95.31 g/t Ag) over 23.00 meters; and GD-23-173 assaying 14.68 g/t AuEq (5.81 g/t Au
and 719.13 g/t Ag) over 26.89 meters.
● BONANZA SHEAR HIGHLIGHTS
◦ The mineralization model has been updated with the latest assay results and the
calculated potential volume of the Bonanza Shear is >15,000,000 m3 with an average grade
of 8.14 gpt AuEq and remains open, corresponding to a 200 % increase in grade and a 15%
increase in volume (from 13,000,000 m3 at 2.71 gpt AuEq).
◦ The Bonanza Shear, hosted at the contact between the Hazelton Sediments and Volcanics
has been intersected in 104 drill holes to date with broad intervals of quartz -sulphide
mineralization, 84% have intersected gold mineralization.
◦ GD-23-113 intersected the Bonanza Shear and assayed 10.94 gpt AuEq (10.80 gpt Au and
6.24 gpt Ag) over 9.70 meters, including 17.63 gpt AuEq (17.42 gpt Au and 9.51 gpt Ag)
over 6.00 meters and 34.85 gpt AuEq (34.47 gpt Au and 17.48 gpt Ag) over 3.00 meters.
◦ GD-23-217 intersected the Bonanza Shear and assayed 11.55 gpt AuEq (11.47 gpt Au and
5.77 gpt Ag) over 5.00 meters, including 57.41 gpt AuEq (57.10 gpt Au and 24.80 gpt Ag)
over 1.00 meters.
◦ GD-23-119 intersected the Bonanza Shear and assayed 13.82 gpt AuEq (13.70 gpt Au and
9.77 gpt Ag) over 4.00 meters, including 16.67 gpt AuEq (16.53 gpt Au and 11.38 gpt Ag)
over 3.00 meters.
◦ GD-23-140 intersected the Bonanza Shear and assayed 7.30 gpt AuEq (7.20 gpt Au and
5.74 gpt Ag) over 7.20 meters, within 4.04 gpt AuEq (3.97 gpt Au and 3.46 gpt Ag) over
11.00 meters.
◦ GD-23-155 intersected the Bonanza Shear and assayed 5.32 gpt AuEq (5.24 gpt Au and
2.84 gpt Ag) over 8.00 meters, including 10.37 gpt AuEq (10.26 gpt Au and 4.80 gpt Ag)
over 4 meters.
◦ GD-23-127 intersected the Bonanza Shear and assayed 4.82 gpt AuEq (4.57 gpt Au and
5.44 gpt Ag) over 8.00 meters, including 6.81 gpt AuEq (6.49 gpt Au and 6.95 gpt Ag) over
5.00 meters.
◦ Multiple drill holes ( previously reported ) with high -grade gold -silver mineralization
intersected the Bonanza Shear including GD-23-180 assaying 65.00 gpt AuEq (64.88 gpt Au
and 8.03 gpt Ag) over 7.90 meters; and GD-23-170 assaying 9.40 gpt AuEq (9.33 gpt Au and
3.98 gpt Ag) over 7.00 meters.
● GOLDEN GATE ZONE HIGHLIGHTS
◦ The mineralization model has been updated with the latest assay results and the
calculated potential volume of the Golden Gate Zone is >1,100,000 m 3 with an average
grade of 3.94 gpt AuEq and remains open.
◦ The newly discovered Golden Gate Zone, hosted within the Hazelton Volcanics and 20
meters below the Bonanza Shear has been intersected in 12 drill holes with broad intervals
of quartz-sulphide mineralization, all or 100% have intersected gold mineralization.
◦ GD-23-133 intersected the Golden Gate Zone and assayed 4.96 gpt AuEq (4.76 gpt Au
and 5.76 gpt Ag) over 7.85 meters, including 9.89 gpt AuEq (9.53 gpt Au and 10.80 gpt
Ag) over 3.85 meters.
◦ GD-23-183 intersected the Golden Gate Zone and assayed 4.61 gpt AuEq (4.51 gpt Au and
3.35 gpt Ag) over 3.50 meters and 6.55 gpt AuEq (6.26 gpt Au and 8.67 gpt Ag) over 3.00
meters.
◦ GD-23-140 intersected the Golden Gate Zone and assayed 6.15 gpt AuEq (6.00 gpt Au and
4.72 gpt Ag) over 3.00 meters.
◦ GD-23-197 (previously reported) intersected the Golden Gate Zone and assayed 11.60 gpt
AuEq (11.07 gpt Au and 23 gpt Ag) over 27 meters, including 14.83 gpt AuEq (14.17 gpt Au
and 29.13 gpt Ag) over 21.00 meters and 34.03 gpt AuEq or 1.09 oz/t AuEq (32.55 gpt Au
and 65.71 gpt Ag) over 9 meters.
PROPERTY HIGHLIGHTS
Updated Model
Cross Section
Surebet - 2023 Completed Drilling
● To date, a total of 11 holes are >100 up to 513 gm AuEq (5% of all holes drilled), 18 holes are
>75 up to 99 gm AuEq (8% of all holes drilled), 30 holes are >50 up to 74 gm AuEq (13% of all
holes drilled), 66 holes are >25 up to 44 gm AuEq (28% of all holes drilled), and 139 holes are
>10 up to 24 gm AuEq (59% of all holes drilled).
● 44 holes out of 124 holes drilled in 2023 on the Golddigger Property contain visible gold
corresponding to 35 % of the holes drilled.
● Footprint of the Surebet discovery has been expanded to 1.8 km 2, the equivalent in size to
>336 NFL football fields that contain multiple extensive stacked bonanza-grade veins within
650 meters from surface that have been tested to date. It remains wide open with excellent
additional discovery potential with only an aggregate of 1 2 months boots on the ground to
date.
● Several lines of evidence, including metals and geochemical trace elements, zonation , type,
origin of fluids and age of the mineralization strongly suggest a Porphyry Feeder Source at
play.
● A study in collaboration with the Colorado School of Mines has confirmed that the
mineralization formed at 4 -5 km below the paleo -surface and extensive Porphyry Feeder
source that provides excellent additional discovery potential at depth.
● To put this into perspective; there is potential for up to 5-10 times the number of stacked veins
below the already discovered system corresponding to 10 times the height of the CN Tower
from top to bottom.
● This original discovery has gone from target generation to where it is today modeled at
>22,900,000 m3 of rock averaging 7.74 gpt AuEq with only 12 months of boots on the ground,
clearly demonstrating Surebet is a world class discovery, and we are likely only seeing the tip
of the iceberg.
● Excellent infrastructure 7 km to road, 300 -man camp on private property, deep water barge
access only 190 km to international container port and rail, 25 km to high tension power.
● The discovery is modelled to be amiable to underground mining, no detrimental minerals
present, environmentally friendly cost -effective mining, with 92.2% gold recovery at a 327
micron crush including 48.8 % free gold recoverable using simple gravity, bala nce recovered
using flotation with no cyanide leaching required.
● Assays are still pending for the exploration surface samples taken from Golddigger’s Cambria
Ice Fields claim blocks.
Toronto, Ontario – January 9, 2024 – Goliath Resources Limited (TSX -V: GOT) (OTCQB: GOTRF) (FSE:
B4IF) (the “Company” or “Goliath”) is excited to report assay results for the remaining 99 new drill holes
from the Surebet Discovery at its 100% controlled Golddigger Property (the “Property”), Golden
Triangle, British Columbia. The vast majority of reported holes intersected broad intervals of significant
quartz-sulphide mineralization and wid espread gold -silver mineralization expanding the volume and
average grade of the Surebet Zone, Bonanza Shear and Golden Gate Zone, all of which remain open.
Highlights for the Surebet Zone include drill hole GD -23-220, which assayed 13.24 gpt AuEq (10.05 gpt