Goliath Reports 15.75 G/T Au and 1845 G/T AG (53.9 OZ/T) from 1 Metre Chip Sample at Dsm Skyhigh Property
GOLIATH REPORTS 15.75 g/t Au and 1845 g/t Ag (53.9 oz/t) FROM 1 METRE CHIP
SAMPLE AT DSM SKYHIGH PROPERTY
Toronto, Ontario – December 4 th, 2018 – Goliath Resources Limited (TSX-V: GOT) (OTCQB:
GOTRF) (FSE: B4IE ) (the “Company” or “Goliath”) is pleased to report channel, chip, and grab
sample assay results of up to 15.75 grams per tonne gold and 1845 grams per tonne silve r (53.9
oz/t) over 1 metre at the Cloud 9 Zone at the DSM Skyhigh property. The property is 100% owned
by the DSM Syndicate, a private precious metals project generator in British Columbia, which
holds a total of six properties to date . Goliath Resources Ltd. owns a 10% interest in the DSM
Syndicate.
2018 Highlights Include:
The Cloud 9 Zone covers a large area, characterized by a series of gold-bearing, polymetallic
quartz veins (link to video), which have been expanded to 1.75 km by 0.4 km, and remains open
(link to map). The zone is defined by samples containing gold and silver mineralization.
• Multiple, relatively flat lying quartz veins have returned assays up to 17.3 grams per tonne
gold and 1845 grams per tonne silver (53.9 oz/t) (link to images).
• The Skyhigh Property covers seven historic ep ithermal and Cu -Mo porphyry mineral
occurrences dating back to the 1990’s.
• Rapid ongoing glacial and snowpack recession provides for excellent additional discovery
potential.
• Geological mapping, further prospecting, channel sampling, and alteration studies are
strongly recommended to outline the full geometry of the Cloud 9 Zone in preparation
for drilling.
The Skyhigh Property was generated and staked by the DSM Syndicate in 2017, following positive
results from a brief reconnaissance exploration program. The property is located approximately
95 kilometers north of Campbell River, BC and occupies 816 hectares. A logging road from
Loughborough Inlet, located 15 km to the west, provides access within 5 50 meters of the
property. An airstrip and logging camp are located 30 kilometres east. A limited follow -up
program in 2018 was carried out to systematically prospect the other unexplored regions of the
claim block and expand on the 2017 mineralized zones. During the brief field program, a total of
29 samples ( 4 channels, 10 chips, and 1 5 grabs) were collected from the Cloud 9 Zone with
highlights including a 1 metre chip that assayed 15.75 g/t Au and 1845.00 g/t Ag. These results
expanded the Cloud 9 Zone from a strike length of 700 to 1750 metres.
Table 1 – Skyhigh Property Highlights
Sample # Channel/Chip/Grab1 Length
(metres)2
Gold
(g/t)
Silver
(g/t)
Copper
%
Lead
%
Zinc
%
Gold
Eq3
(g/t)
W496955 Chip 1.00 17.30 72.70 0.01 0.01 0.03 18.19
W496803 Grab 16.10 1500.00 0.03 3.40 0.29 35.59
W496911 Chip 1.00 15.75 1845.00 0.11 1.24 0.16 38.27
W496909 Grab 11.80 1800.00 0.39 2.09 1.12 35.29
W496910 Chip 1.00 4.18 501.00 0.08 0.48 0.13 10.50
W496912 Grab 4.17 661.00 0.09 1.17 0.10 12.69
W496916 Grab 3.06 358.00 0.02 0.05 0.00 7.31
W496852 Chip 1.00 2.36 393.00 0.36 0.13 0.15 7.70
W496805 Float 2.25 939.00 0.05 0.14 0.09 13.47
W496854 Grab 2.22 14.90 0.01 0.02 0.05 2.45
W496801 Chip 1.00 1.79 204.00 0.07 0.06 0.03 4.34
W496851 Chip 2.50 1.38 174.00 0.06 0.24 0.23 3.80
W496918 Talus 1.38 110.00 0.03 0.15 0.06 2.82
W496917 Chip 0.50 1.14 232.00 0.19 0.20 0.00 4.25
W496956 Grab 1.04 8.10 0.00 0.00 0.00 1.13
W496853 Chip 1.50 1.01 214.00 0.02 0.12 0.14 3.70
W497402 Channel 0.3 0.12 409.00 10.1 0.00 0.24 20.82
1Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are not intende d to be
representative of the material sampled
2True thickness of mineralized zone not known
3AuEq metal values are calculated using: Au $1226.65/oz, Ag $14.38/oz, Cu $2.8164/lb, Pb $0.8779/lb, Zn $1.1929/lb
The regional geology is underlain by the Coast Plutonic Complex, which comprises granodiorite,
diorite, gneiss, migmatite, amphibolite and schist (Roddick, 1977). The metamorphic rocks
generally occur as small fault-bounded pendants. Feldspar porphyry dykes are locally abundant.
Limited geological mapping has been conducted on the property, but mapped areas are generally
underlain by rocks of the Coast Plutonic Complex. Mineralization is typically hosted in and/or
adjacent to quartz veins. The quartz veins are classified in to three types based on mineralogy,
texture, type of occurrence and geochemical signature. These types are:
1. Pyrite, chalcopyrite and molybdenite-bearing;
2. Pyrite-bearing
3. Pyrite, chalcopyrite, acanthite (silver)-bearing veins.
Further exploration work is recommended based on the positive 2017 and 2018 results, with the
expansion of gold-bearing polymetallic mineralization and the extensive snowpack and glacial
recession on the property. This will provide larger discovery areas with strong gold and silver
potential, which on the whole are under-explored. Suggested follow-up work would focus on
expanding the known extent of mineralization at the Cloud 9 Zone, which would include detailed
mapping, geochemical sampling, drone imagery, and channel sampling in preparation for drilling.
The property is in an alpine environment with excellent bedrock exposure and is in close
proximity to logging roads, and tide water.
Newstrike Property Update
This pr operty was staked in 2017 based on encouraging results from a regional exploration
program and received one day of follow-up exploration in 2018. A total of 20 samples were taken
that assayed from below detection to 6.64 gram per tonne gold. The DSM Syndicate is evaluating
and interpreting the results to determine the next phase of exploration on the project.
Money Property Update
The property was similarly staked in 2017 and again received a single day of follow-up exploration
in 2018. A total of 12 samples were taken on the property that assayed from below detection to
48.2 grams per tonne gold. Again, DSM Syndicate is evaluating and interpreting the results to
determine the next phase of exploration on the project.
Qualified Person
Stephen Roach 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, 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 g old 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 storag e 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.
Financing Update
As per the closing of $707,000 announced November 27, 2018, the Company would like to clarify
that it did pay finder's fees equal to 7% of the gross proceeds from a portion of the financing in
cash, and 7% finders warrants equal to the number of units sold in accordance with the policies
of the TSX Venture Exchange. The proposed private placement and finder's fees are subject to
TSX Venture Exchange acceptance. All shares issued pursuant to the offering and any shares
issued pursuant to the exercise of warrants will be subject to a four-month hold period from the
closing date. The Company did pay $18,060 in Finders Fees, and 90,300 in Finders warrants. These
whole warrants have the same price and terms as the warrants attached to the units sold.
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
General Disclaimer
Goliath Resources Limited "Goliath" has taken all reasonable care in producing and publishing information
contained in this news release and will endeavor to do so on a periodic basis. Material in this news release
may still contain technical or other inac curacies, omissions, or typographical errors, for which Goliath
assumes no responsibility. Goliath does not warrant or make any representations regarding the use,
validity, accuracy, completeness or reliability of any claims, statements or information on this site. Under
no circumstances, including, but not limited to, negligence, shall Goliath be liable for any direct, indirect,
special, incidental, consequential, or other damages, including but not limited to, loss of programs, loss of
data, loss of use of computer of other systems, or loss of profits, whether or not advised of the possibility
of damage, arising from your use, or inability to use, the material from this news release. The information
is not a substitute for independent professional advice b efore making any investment decisions.
Furthermore, you may not modify or reproduce in any form, electronic or otherwise, any information on
this site, except for personal use unless you have obtained our express written permission.
Forward-Looking Statements
This news release contains forward-looking statements, including but not limited to comments regarding
predictions and projections. More particularly, this document contains statements concerning the benefits
of the listing of the Company's shares on OTCQB. Forward-looking statements address future events and
conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from
those currently anticipated in such statements. The Company does not intend, and does not assume any
obligation, to update these forward -looking statements. Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the
OTCQB Venture Market accepts responsibility for the adequacy or accuracy of this release.