Goliath Reports 22.83 Grams Per Tonne Gold Equivalent Over 2 Metres Channel Cut at Golddigger in the Golden Triangle; Bulk Sample Recommended
Goliath Reports 22.83 Grams Per Tonne Gold Equivalent Over 2 Metres
Channel Cut at Golddigger in the Golden Triangle; Bulk Sample
Recommended
November 28, 2017 – Goliath Resources Ltd. (TSX-V: GOT) (the “ Company or “Goliath”) is
pleased to report initial channel, chip, and outcrop grab sample results from its Golddigger project.
Goliath has an option to acquire a 100% interest in the Golddig ger property. The property covers
14,220 hectares and is located on tide water south east of Stewart British Columbia in the Golden
Triangle.
The property is situated within two kilometres of the unconform ity between Lower Hazelton and
Stuhini rocks, also known as the “Red Line” boundary where the vast majority of major deposits
have been found within the Golden Triangle.
Highlights include:
Bulk sample recommended for the Anaconda Vein system to determine its economics
Presence of gold mineralization over a strike length of 2.3 kil ometers and 600 meters of
exposed vertical extent at the Anaconda Vein system
Anaconda Vein channel cut assayed 22.83 gpt Au eq over 2 metres
o incl. 5.81 gpt Au and 1,280 gpt Ag
Anaconda Vein channel cut assayed 19.08 gpt Au eq over 1.7 metres
o incl. 5.57 gpt Au, 1,016 gpt Ag and 0.3 % Pb
Geological mapping, prospecting and channel sampling is recommended to outline the full
geometry of the Gold Swarm zone in preparation for drilling
Gold Swarm zone grab samples assayed up to 21.1 gpt Au, 214 gpt Ag, 3.23% Pb and
0.26% Cu in different samples
Golddigger West
Anaconda Vein
The Anaconda vein system is a 1–10 metre-wide quartz vein with the confirmed presence of
localized gold mineralization over a known strike length of 2.3 kilometres, and is exposed in
vertical extent for 600 metres. The vein remains open along strike and to depth. Rope access teams
collected 61.72 metres of chip and channel samples from the ver tical face of the vein that ranged
from 0.5 to 4 metres in length (link to maps & photos).
Highlights included a channel sample grading 22.83 grams per tonne gold equivalent over 2 meters
(including 5.81 grams per tonn e gold, and 1,280 grams per tonne silver). An additional channel
contained 19.08 grams per tonne gold equivalent over 1.7 metres (including 5.57 grams per tonne
gold, 1,016 grams per tonne silver, and 0.3 percent lead). (See Table 1 below for highlights).
Collectively, 159 chip and outcrop grab samples were taken from the vein and the surrounding
rocks (see Table 1 below for highlights). Assays ranged from below the detection limit to 3.9 grams
per tonne gold, 1,435 grams per tonne silver, and 0.15 percent lead in different samples.
Highlights include a 0.6 metre chip sample containing 23.05 gra ms per tonne gold equivalent
(including 3.9 grams per tonne gold, 1,435 grams per tonne silv er, and 0.15 percent lead). An
additional 0.5 metre chip contained 18.23 grams per tonne gold equivalent (including 3.29 grams
per tonne gold, 1,120 grams per tonne silver, and 0.11 percent lead). Chip samples collected by
rope-access teams were taken parallel to the dip-slope of the v ein and thus do not represent the
true width of the mineralized zone.
Based on these highly mineralized results, the technical team has recommended a bulk sample be
taken as the next step to determine the economics of Anaconda vein system.
Golddigger East
Gold Swarm
Exploration in 2017 resulted in the discovery of the Gold Swarm zone with mineralization
extending over an area of 115 by 95 metres. The zone remains op en in all directions. The Gold
Swarm zone is characterized by qu artz veins, stockwork and brec cia zones that are variably
mineralized with pyrite, chalcopyrite, bornite and galena ( link to maps & photos ). Initial assays
from outcrop grabs have returned grades up to 21.1 grams per to nne gold, 214 grams per tonne
silver, 3.23 percent lead and 0.26 percent copper from different samples (see Table 1 below). Based
on these very encouraging initia l results, an extensive program including geological mapping,
prospecting, channel sampling, soil and silt sampling has been recommended for the 2018
exploration season to outline the full geometry of the zone in preparation for drilling.
The Gold Swarm zone and eastern side of the Golddigger property is underlain by inter-fingered
bimodal volcanic rocks similar to the Iskut River Formation. Th e Iskut River Formation of the
Hazleton Volcanic Group hosts the high-grade Eskay Creek deposit.
The geologic setting in this under explored area has excellent discovery potential due to its location
within Hazelton Group rocks, the same stratigraphic unit that h osts Auryn Resources Inc’s
Homestake Ridge deposit and Pre tium Resources Inc.’s Brucejack deposit. The property is also
situated within two kilometres of the unconformity between Lowe r Hazelton and Stuhini rocks,
also known as the “Red Line” boundary where the vast majority of major deposits have been found
within the Golden Triangle.
Table 1: Golddigger Property Assay Highlights
Sample Channel/Chip/Grab Zone
Length
(metres)
Gold Eq
(gpt)1
Gold
(gpt)
Silver
(gpt)
Copper
%
Zinc
%
Lead
%
W495063 ‐
W495086 Channel Anaconda 1.70 19.08 5.57 1,016.00 0.30
W495052 Channel Anaconda 2.00 22.83 5.81 1,280.00 0.09
W495420 Chip Anaconda 0.60 23.05 3.90 1,435.00 0.15
W495424 Chip Anaconda 0.50 18.23 3.29 1,120.00 0.11
W495396 Chip Anaconda 0.45 10.85 3.12 575.00 0.15
W495426 Chip Anaconda 1.00 9.50 2.45 531.00
W495387 Chip Anaconda 1.40 3.63 1.47 146.00 0.38
W495425 Outcrop grab Anaconda 27.67 2.04 1,925.00 0.10
W495318 Outcrop grab Goldswarm 21.24 21.10 10.80
W495319 Outcrop grab Goldswarm 8.54 4.42 214.00 0.26 1.44
W495320 Outcrop grab Goldswarm 8.16 3.77 168.00 0.15 3.23
W495397 Outcrop grab Anaconda 5.69 1.96 281.00
W495384 Outcrop grab Anaconda 5.75 1.28 211.00 0.67 0.21 0.61
W495478 Outcrop grab Anaconda 4.78 1.10 277.00
W495830 Outcrop grab NE Gossan 3.08 2.20 34.50 0.54
W495829 Outcrop grab Metalba nk 2.88 0.20 26.70 2.24 0.99
W495652 Outcrop grab Newgold 1.63 1.59 2.80
W495330 Outcrop grab Newgold 1.40 1.21 14.40
1AuEq based on metal prices (USD) on Nov 21, 2017: Au $1280.4 oz; Cu $3.0905 lb; Pb $1.1018 lb; Zn $1.45504 lb; Ag $17 oz
Statements
Mr. Roger Rosmus, CEO states:
“The Golddigger property is located close to tidewater access and in a geologic terrane that is host
to multiple world class mineral deposits. We look forward to bu lk sampling the Anaconda Vein
and further developing the Gold Swarm zone as they both have the potential to become company
makers.”
Dr. Stefan Kruse, Chief Consulting Geologist stated:
“We are extremely encouraged by the discovery of extensive gold mineralized zones in bedrock
at Golddigger. The new Gold Sw arm bedrock discovery zone at Go lddigger, provides excellent
potential to evolve into a very significant standalone discovery with multiple drill targets. We look
forward to expanding on these exciting new discoveries with the planned upcoming 2018
exploration program.”
Other
Stefan Kruse, Ph.D., P. Geo., Chief Consulting Geologist, is th e qualified person as defined by
National Instrument 43-101, for Goliath Resources Limited explo ration projects, and supervised
the preparation of, and has reviewed and approved, the technical information in this release.
All rock, channel and talus fine samples were crushed and pulverized at ALS Canada Ltd.’s lab in
Terrace, BC or in Reno Nevada. AL S is either Certified to ISO 9 001:2008 or Accredited to ISO
17025:2005 in all of its locations. The resulting sample pulps were analyzed for gold by fire assay
and using multi-element aqua regia digestion. The coarse reject portions of the rock, channel and
talus fine samples, as well as the pulps, were shipped to Goliath’s storage facility in Terrace, BC.
All samples were analyzed using ALS Canada Ltd.’s assay procedu re 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 ab sorption spectroscopy (AAS)
finish. Any results greater than 100 ppm for silver or 10,000 p pm 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 gravimet ric analysis). Gold values
of greater than 10 ppm Au were assayed by the Au-GRA22 method w hich includes a fire-assay
fusion procedure with a gravime tric finish. Blank and duplicate s QA/QC samples were inserted
into channels sample laboratory batches. Additionally, and 10% sub-sample of pulp and reject
material was sent to Activation Laboratories in Ancaster Ontario, for check-analysis.
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 b e representative of the material
sampled. In addition, the reader is cautioned that mineral reso urces are not mineral reserves and
do not have demonstrated economic viability and that proximity to known mineralization does not
guarantee similar mineralization will exist on the properties.
Gold equivalent assays are based on metal prices (USD) on Nov 2 1, 2017: Au $1,280.4 oz; Cu
$3.0905 lb; Pb $1.1018 lb; Zn $1.45504 lb; Ag $17 oz and are ba sed on an assumption of 100%
recovery.
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
Neither the TSX Venture Exchange nor its Regulation Services Pr ovider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.