FULL CONTACT HIGH-GRADE Au TARGET HIGHLIGHTS:
- The new high-grade Full Contact discovery consists of a 1.4 km trend on the “Red Line” (the contact between
Stuhini and Hazelton Group rocks) within which are multiple gossans with samples that assayed up to 101.13 g/t AuEq (101.00 g/t Au and 10 g/t Ag) and remains open.- An accompanying infographic is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/ca039c63-8614-42a1-8c5c-38e71e26bb5f
- An accompanying infographic is available at:
- The Full Contact discovery contains multiple silicified zones, quartz veins up to 14 m wide, and shear zones, containing strong widespread gold-sulphide mineralization over a 700 meter trend with grades up to 101.13 g/t AuEq or 3.25 oz/t AuEq (101.00 g/t Au and 10 g/t Ag) that remains wide open in all directions.
- An accompanying infographic is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/0c553221-a538-4933-93f6-afce88c4bbfd
- An accompanying infographic is available at:
- A 70-meter-wide of mineralized quartz veins and breccia that remains open in all directions has been identified in the immediate surroundings of the 101.13 g/t AuEq sample.
- Full Contact discovery shares the same geological setting and alteration as the Bonanza Shear, part of the Surebet Discovery with mineralization forming around the volcanic-sedimentary units' contact.
- Mineralization at Full Contact consists primarily of pyrite, with lesser arsenopyrite and sphalerite disseminated within silicified zones, concentrating in veins and fractures.
- The new Full Contact discovery is located on the southern side of Goliath’s Cambria Icefields claim blocks, 19 kilometers northwest of the
Surebet Zone .- An accompanying infographic is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/0f6bc29b-b8e3-400d-b22f-0ffc3bb533b5
- An accompanying infographic is available at:
- The new Full Contact target is drill ready and could quickly evolve into a significant new discovery. Additional follow-up work along the 1.4 km trend that remains open would include further prospecting, channel cutting and mapping to outline the full extent of this discovery that remains open in preparation for future drilling.
- The new Full Contact outcrop has only recently been exposed as a result of exponential glacial retreat and permanent snowpack abatement confirming the excellent remaining discovery potential on the 100% controlled Golddigger property covering over 64,000 hectares.
- The new Full Contact target demonstrates the excellent untapped potential for additional discoveries on the Golddigger property, which encompasses 56 km of the Red Line, and could quickly evolve into another material discovery.
- Multiple additional high-grade gold-silver-base-metals showings were discovered on the Cambria Icefields claims along the Red Line and will be further explored during the 2024 field season in preparation for future drilling.
- An accompanying infographic is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/ec1c755a-a1d2-410c-a97c-9445e145c4db
- An accompanying infographic is available at:
The new high-grade Full Contact discovery is located 19 km northwest of the
The Full Contact target is drill ready and can quickly evolve into a significant new discovery. Additional follow-up work along the 1.4 km trend that remains open would also include further prospecting, channel cutting and mapping to outline the full extent of this discovery that remains open in preparation for additional drilling.
The Full Contact outcrop has only just very recently been exposed as a result of exponential glacial retreat and permanent snowpack abatement confirming the excellent remaining discovery potential on the 100% controlled Golddigger property covering over 64,000 hectares. It demonstrates the excellent untapped potential for additional discoveries on the Golddigger property, which encompasses 56 km of the “Red Line” and could quickly evolve into another material discovery.
Table 1: 2023 grab and chip samples from the Full Contact target.
Sample ID | Au (g/t) | Ag (g/t) | Cu (%) | Pb (%) | Zn (%) | AuEq (g/t) |
ST116361 | 101.00 | 10.00 | 0.01 | 0.01 | 0.00 | 101.13 |
ST115867 | 0.95 | 40.50 | 1.04 | 0.01 | 0.02 | 2.82 |
ST116169 | 0.42 | 0.70 | 0.01 | 0.00 | 0.03 | 0.46 |
ST116168 | 0.18 | 0.94 | 0.02 | 0.00 | 0.01 | 0.21 |
ST112559 | 0.04 | 10.55 | 0.11 | 0.00 | 0.01 | 0.31 |
Multiple additional high-grade gold-silver-base-metals showings have been identified on the Cambria Icefields claims. These showings will be further explored during the 2024 field season in preparation for future drilling and include the previously announced
Golddigger Property
The Golddigger Property is 100% controlled covering an area of 64,264 hectares (158,800 acres) and is in the world class geological setting of the Eskay Rift within
The Surebet discovery has exceptional metallurgy with gold recoveries of 92.2% inclusive of 48.8% free gold from gravity alone at a 327-micrometer crush (no deleterious elements and no cyanide required to recover the gold based on metallurgical work completed to date).
It is in an excellent location in close proximity to the communities of
Additional infrastructure in the area includes the
Qualified Person
Other
Oriented HQ-diameter or NQ-diameter diamond drill core from the drill campaign is placed in core boxes by the drill crew contracted by the Company. Core boxes are transported by helicopter to the staging area, and then transported by truck to the core shack. The core is then re-orientated, meterage blocks are checked, meter marks are labelled, Recovery and RQD measurements taken, and primary bedding and secondary structural features including veins, dykes, cleavage, and shears are noted and measured. The core is then described and transcribed in MX DepositTM. Drill holes were planned using Leapfrog GeoTM and QGISTM software and data from the 2017-2022 exploration campaigns. Drill core containing quartz breccia, stockwork, veining and/or sulphide(s), or notable alteration are sampled in lengths of 0.5 to 1.5 meters. Core samples are cut lengthwise in half, one-half remains in the box and the other half is inserted in a clean plastic bag with a sample tag. Standards, blanks and duplicates were added in the sample stream at a rate of 10%.
Grab, channels, chip, and talus samples were collected by foot with helicopter assistance. Prospective areas included, but were not limited to, proximity to MINFile locations, placer creek occurrences, regional soil anomalies, and potential gossans based on high-resolution satellite imagery. The rock grab and chip samples were extracted using a rock hammer, or hammer and chisel to expose fresh surfaces and to liberate a sample of anywhere between 0.5 to 5.0 kilograms. All sample sites were flagged with biodegradable flagging tape and marked with the sample number. All sample sites were recorded using hand-held GPS units (accuracy 3-10 meters) and sample ID, easting, northing, elevation, type of sample (outcrop, subcrop, float, talus, chip, grab, etc.) and a description of the rock were recorded on all-weather paper. Samples were then inserted in a clean plastic bag with a sample tag for transport and shipping to the geochemistry lab. QA/QC samples including blanks, standards, and duplicate samples were inserted regularly into the sample sequence at a rate of 10%.
All samples are transported in rice bags sealed with numbered security tags. A transport company takes them from the core shack to the ALS labs facilities in
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.
About
Goliath Resources Limited is an explorer of precious metals projects in the prolific
For more information please contact:
Mr.
Founder and CEO
Tel: +1.416.488.2887
roger@goliathresources.com
www.goliathresourcesltd.com
Widths are reported in drill core lengths and the true widths are estimated to be 80-90% and AuEq metal values are calculated using: AuEq metal values are calculated using: Au 1924.79 USD/oz, Ag
Neither the
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Goliath’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the ability of the Company to complete financings and its ability to build value for its shareholders as it develops its mining properties. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Goliath. Although such statements are based on management's reasonable assumptions, there can be no assurance that the proposed transactions will occur, or that if the proposed transactions do occur, will be completed on the terms described above.
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