Goliath reports up to 20.6 gpt Gold and 761 gpt Silver at DSM Gold Star Property
Goliath reports up to 20.6 gpt Gold and 761 gpt Silver at DSM Gold Star
Property
TORONTO, Oct. 30, 2018 -- Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (Frankfurt: B4IE) ( the
“Company” or “Goliath”) is pleased to report channel, chip, and grab sample assay results from the Gold Star
property at: 1) the newly discovered 190 metre long Goldilocks quartz vein stockwork zone and 2) the Yellow Brick
Road vein discovered in 2017 that has been expanded from 90 to 170 meters long, both zones remain open in all
directions. Samples assayed up to 24.55 grams per tonne gold equivalent (20.6 g/t Au, 329 g/t Ag, 0.02 % Pb) and
40.5 grams per tonne gold equivalent (29.6 g/t Au, 845 g/t Ag, 0.3 % Cu, and 0.55 % Pb) from each zone respectively .
The DSM syndicate owns 100% of The Gold Star property covering 793 hectares that it generated and staked. DSM is a
private project generator that holds a total of six B.C. properties of which Goliath Resources Ltd. owns a 10% interest.
2018 Highlights Include:
• Two new high-grade quartz vein and stockwork zones, no previous work recorded in the area
— Goldstar property – large areas that remain to be explored with excellent gold potential
• Yellow Brick Road Zone
— The Yellow Brick Road Zone has been extended based on high-grade gold mineralized samples from 90 meters
to 170 metres in length and remains open in all directions (link to video)
— Channel samples over 0.3 metre assay up to 28.7 g/t Au, 410 g/t Ag, 1.4 % Cu, and 6 % Pb ( link to image)
• Goldilocks Zone
— Quartz vein and stockwork zone samples define an area of 190 metres by 20 meters with highlights including
24.55 g/t AuEq (20.6 g/t Au and 329 g/t Ag) from a 1 meter chip sample and 13.65 g/t AuEq (9.34 g/t Au and 353 g/t
Ag) from a 1.5 meter chip sample, and the zone remains open in all directions ( link to map)
• The high-grade gold and silver mineralization confirmed on surface at these two discovery zones located 500 meters
apart provides strong drill targets to test for a large gold mineralizing system at depth
The Gold Star Property is situated 23 kilometers south of Bella Coola, BC and is located approximately 5.5 kilometers from
logging access roads and lies within 4.5 kilometers of South Bentick Arm and tidewater ( link to video). The Gold Star Property
is an original discovery with no previous recorded work in the area. The prospect was generated and staked by the DSM
Syndicate following positive results from a reconnaissance prospecting program in 2017 and followed up with a short program
in 2018 that involved channel sampling, prospecting, and drone imagery.
Rapid glacial and snow pack recession has exposed extensive areas of bedrock with additional strong potential to host gold
mineralization.
Host rock is variably altered with zones of pervasive chloritization, oxidized pyritization, and local clay alteration. The Yellow
Brick Road Zone is pyrite-chalcopyrite-galena bearing, vuggy quartz veins are up to 1 meter wide with an encompassing pyritic
and quartz-sericite-pyrite alteration envelope that is up to 30 cm wide. Off-shoot veinlets form local breccia and stock work in
the altered wall rock. Sulphides occur as coarse seams and dissemination within quartz vein material.
A total of 17 rock samples were taken at the newly discovered Goldilocks Zone (see Table 1), fourteen of which returned
greater than 1 g/t Au and up to 20.6 g/t Au and 329 g/t Ag from a 1 metre chip sample ( link to map ). The mineralized grab
samples define an area approximately 190 by 20 metres, in an area of recent glacial and snowpack recession.
Five grab samples and four channel grab samples were taken at the Yellow Brick Road Zone this season, expanding on the
high-grade mineralization discovered last year. The grab samples ranged from 2.5 to 29.6 g/t Au and 49 to 845 g/t Ag.
Similarly, channel grab samples returned up to 28.7 g/t Au, 410 g/t Ag, 1.4 % Cu, and 6 % Pb, see Table 1.
Table 1: Goldstar Property Highlights
Sample # Zone Channel/Chip/Grab1 Length
(metres)
Gold
(g/t)
Silver
(g/t)
Copper
%
Lead
%
Gold
Eq3 (g/t)
W496968 Yellow Brick Road Grab 29.60 845.00 0.30 0.55 40.47
W497407 Yellow Brick Road Channel 0.30 28.70 410.00 1.40 6.00 38.88
W496863 Goldilocks Chip 1.00 20.60 329.00 0.00 0.02 24.55
W496860 Goldilocks Grab 11.70 313.00 0.09 0.03 15.60
W497406 Yellow Brick Road Channel 0.30 11.10 260.00 1.97 1.28 18.00
W496862 Goldilocks Chip 1.50 9.34 353.00 0.05 0.02 13.65
W496970 Yellow Brick Road float 6.82 141.00 0.54 0.05 9.40
W496969 Yellow Brick Road Grab 5.33 113.00 0.20 0.52 7.27
W386012 Yellow Brick Road Grab 4.90 74.10 0.05 0.46 6.10
W496920 Goldilocks Chip 1.00 4.28 133.00 0.00 0.00 5.87
W497408 Yellow Brick Road Channel 0.27 3.91 89.40 0.05 0.05 5.08
W496922 Goldilocks Grab 2.99 761.00 0.96 0.42 13.84
W496861 Goldilocks Grab 2.65 52.00 0.00 0.03 3.29
W496865 Goldilocks Grab 2.55 44.30 0.01 0.02 3.11
W496971 Yellow Brick Road Chip 1.00 2.45 48.50 0.25 0.03 3.44
W496921 Goldilocks Grab 1.42 32.50 0.00 0.09 1.85
W496924 Goldilocks Chip 0.50 1.15 27.00 0.00 0.00 1.47
W496919 Goldilocks Chip 1.50 0.77 19.10 0.00 0.00 0.99
W497409 Yellow Brick Road Channel 0.75 0.26 2.70 0.01 0.01 0.31
W496864 Goldilocks Grab 0.12 5.30 0.00 0.00 0.18
W3875154 Yellow Brick Road Grab 55.80 795.00 1.71 12.30 74.28
W3875134 Yellow Brick Road Grab 21.40 339.00 0.66 4.85 28.97
W3875174 Yellow Brick Road Grab 16.70 212.00 0.17 0.40 19.71
W3875164 Yellow Brick Road Grab 16.20 267.00 1.25 2.62 22.71
W3875124 Yellow Brick Road Grab 0.67 2340.00 1.67 0.11 31.39
W3875144 Yellow Brick Road Grab 9.28 152.00 0.07 0.13 11.28
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
2True thickness of mineralized zone not known
3AuEq metal values are calculated using: Au $1222.9/oz, Ag $14.63/oz, Cu $2.8499/lb
42017 Sample Data
High-grade polymetallic veining has been sampled over ~1 km strike length indicating strong potential for a large mineralizing
system at depth. Additionally, the Goldstar property lies in an area of prolonged intrusive activity in a geological setting
favourable for gold and polymetallic mineralization.
Based on encouraging precious and base metals results from grab and channel samples resulting from two one-day programs,
a systematic and comprehensive exploration program is strongly recommended in preparation for drilling. Upcoming planned
work includes further prospecting and preliminary mapping, drone mapping on both the Yellow Brick Road and Goldilocks
Zones, coupled with property-wide reconnaissance prospecting and geochemical sampling.
Extensive regions of snowpack and glacial recession provide large areas with strong gold potential that remain to be explored.
Follow up work will focus on expanding the known extent of mineralization at the Yellow Brick Road and Goldilocks zones,
which will lead to the understanding and modeling of this gold-rich mineralizing system. Follow-up prospecting of the vast
unexplored regions of the Goldstar Property adds to future discovery potential. Close proximity to logging roads and tide water
provides for good access to infrastructure.
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 gold 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 storage 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.
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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