Mr. Roger Rosmus of Goliath reports
GOLIATH REPORTS UP TO 110 GPT AU (3.21 OZ/T) AT 10% OWNED DSM GOLD STANDARD PROPERTY
Goliath Resources Ltd. and Juggernaut Exploration Ltd. have released channel, chip and grab sample assay results of up to 110 grams per tonne gold (3.21 ounces per ton) from the Big Show zone vein system, measuring two kilometres by one km. It remains open in all directions containing multiple large en echelon gold-bearing mineralized quartz veins. The Big Show zone is located on the Gold Standard property, four kilometres north of Bella Coola, B.C. Goliath Resources owns a 10-per-cent interest in the DSM syndicate, a private precious metals project generator in British Columbia that owns 100 per cent of six properties, inclusive of the Gold Standard property.
2018 highlights include:
Extensive new bedrock discovery in an area of recent snowpack and glacial abatement with no historic work recorded;Discovery of the Big Show zone, a large zone of prolific quartz veining that contains multiple large en echelon quartz veins that outcrop within a two-kilometre-by-one-kilometre zone that remains open in all directions: Seven large shear zone hosted mineralized vein systems containing consistent high-grade gold mineralization discovered to date;Vein highlights include: Vein system 1 (Kraken) assays up to:71.8 grams per tonnne gold (2.1 ounces per ton), 64.4 g/t silver, 72.6 g/t gold equivalent (0.5 chip sample);Vein system 2 (Goldzilla) assays up to:110 g/t Au (3.21 ounces per ton), 934 g/t Ag, 121.8 g/t AuEq (grab sample); 10.8 g/t Au, 85.5 g/t Ag, 11.85 g/t AuEq (two m chip sample);Vein system 3 (Leviathan) assays up to:96.8 g/t Au (2.8 ounces per ton), 429 g/t Ag, 106.7 g/t AuEq (grab sample); 26.9 g/t Au, 70.4 g/t Ag, 27.79 g/t AuEq (1.5 m chip sample);Multiple other large veins also discovered yet to be sampled providing for excellent additional gold potential; The Big Show zone situated within a large regional high strain zone, a corridor of brittle and ductile deformation: A channel sample grab of chlorite-schist from within a 15-metre-wide shear zone returning 0.28 g/t Au over 0.15 metre; The geological setting and style of mineralization, large gold-bearing mineralized veins and shear zones consistent with a mesothermal/orogenic system; these systems often deep-rooted and mined to depths of one to three kilometres or more;Approximately 67per cent of Canadian gold production coming from this world-class geologic setting, with examples including the nearby Bralorne Pioneer camp in British Columbia (4.17 million ounces) and many regions within the Canadian Shield including Kirkland Lake (greater than 40 million ounces), Timmins (greater than 70million ounces), Val d'Or/Noranda (greater than 69 million ounces) and Red Lake camps (greater than 29 million ounces);Based on the discovery of multiple new gold-mineralized veins claim blockrecently expanded from 690 hectares to 1,774 hectares: Gold Standard property is an original discovery located in a world-class geological setting that remains largely unexplored, providing for tremendous untapped gold potential.
The property was generated and staked by the DSM syndicate in 2017 following positive results from a brief reconnaissance exploration program.A limited follow-up program in 2018 was carried out to expand on the 2017 mineralized zones and systematically prospect the other unexplored regions of the claim block. This resulted in the discovery of seven new shear-zone-hosted en echelon large quartz vein systems, which remain open, confirming the tremendous untapped gold potential of the largely unexplored Gold Standard property.
This mineralized system is part of a regional high strain zone, a brittle and ductile, subvertical shear zone system. Localization of high strain zones within the system is associated with sheeted, oxidized, sulphide-bearing quartz veins that have been identified in outcrop within a two km by one km zone, which remains open in all directions. Discrete quartz veins trend up to 350 metres in length and are up to five metres thick.They host variable amounts of oxidized pyrite and disseminated pyrite with chalcopyrite. Additionally, the shear zones are typically demarked by chlorite schist of up to 15 metres wide, where a channel grab from a chlorite within a shear zone assayed 0.28 g/t Au over 0.15 metre.To date on the Big Show, all seven large vein systems identified and sampled contain gold mineralization
During the brief program, a total of 15.2 metres of channel sampling were completed. Highlights are reported in the associated table and include a 0.5-metre channel sample containing 32.00 g/t AuEq (31.00 g/t Au, 83.90 g/t Ag). Additionally, 30 chip samples were taken with highlights including a 0.5-metre chip sample of 72.57 g/t AuEq (71.80 g/t Au, 64.40 g/t Ag) with six samples assaying over 10 g/t Au. Fifty-two grab samples were collected with highlights including 121.84 g/t AuEq (110.00 g/t Au, 934.00 g/t Ag) and 106.68 g/t AuEq (96.80 g/t Au, 429.00 g/t Ag).
GOLD STANDARD PROPERTY HIGHLIGHTSSample GoldSilverCopper AuEq (3)No. (g/t) (g/t) (%)(g/t)W388888110.00934.000.42 121.84W496703 96.80429.002.97 106.68W495957 71.80 64.400.0072.57W496900 40.50117.000.7043.02W496949 39.00300.000.2442.96W496702 31.90112.000.7234.39W497438 31.00 83.900.0032.00W386026 26.90 70.400.0327.79W495976 21.80 96.500.0723.07W494953 19.15 49.100.0219.77W386031 17.40 75.400.6619.36W495987 16.15 72.200.3717.61W496948 15.85118.000.1117.44W495975 13.35195.008.9730.02W386024 10.80 85.500.0211.85W4968989.20 31.200.00 9.57W5003558.33 20.000.00 8.57W4974366.87 48.700.10 7.61W4959595.38 27.100.00 5.70W4959554.946.200.01 5.03W3860284.20 21.000.07 4.56W4959584.198.400.00 4.29W3860273.68 28.600.70 5.14W4959833.46 22.400.00 3.73W4967013.30 18.500.59 4.46W4959543.24 14.200.01 3.43W4974372.978.400.00 3.07W4959792.93 11.600.30 3.55W4959812.90 14.000.01 3.08W4959842.51 12.900.03 2.71W4959522.38 12.100.00 2.52W5003542.389.400.00 2.49W497446-72.226.240.02 2.33W4959662.14 40.800.85 3.99W4959682.12 11.900.58 3.19W4959631.95 42.100.67 3.52W4974441.895.000.00 1.95W495985-61.88 22.150.89 3.57W4969941.755.500.00 1.82W4959881.71 23.801.70 4.71W4968931.69 14.304.22 8.60W4916571.653.800.00 1.70W4974401.614.700.06 1.76W4968941.467.200.71 2.68W4969501.439.100.12 1.73W4916561.395.000.00 1.45W4974391.324.400.01 1.39W4974351.314.600.00 1.37W4974431.123.100.00 1.16W4974331.11215.000.00 3.68W5003531.03 14.700.14 1.43W495977-80.862.600.07 1.00(1) 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,(2) True thickness of mineralized zone not known.(3) AuEq metal values are calculated using: Au $1,222.9/ounce, Ag $14.63/ounce and Cu $2.8499/pound.
Gold Standard is situated within a regional corridor of brittle and ductile deformation that is proximal to the boundary between the Intermontane and Insular superterranes, demarked by the Coast shear zone. Prolonged faulting and shearing focused within this structural corridor that transects the Gold Standard property provided extensive conduits for mineralizing fluids and favourable sites for mineralization. These mesothermal/orogenic characteristics are consistent with a gold-bearing mineralized veins and shear zones. Deposits of this nature are found at the Bralorne Pioneer mining camp in British Columbia (4.17 million ounces) and many regions within the Canadian Shield including the Timmins, Val d'Or/Noranda, and Red Lake camps.Typical deep-rooted mines in these camps extend to depths in excess of one to three kilometres.
Based on very positive results on the Gold Standard property, a follow-up exploration program, consisting of comprehensive prospecting, mapping and systematic reconnaissance geochemical sampling, ground magnetics, and drone mapping, is recommended. This surface program is in preparation for an inaugural drill program to test this extensive high-grade gold system both along strike and to depth. The property is in an alpine area with abundant bedrock exposure due to recent glacial and snowpack abatement and is located only four kilometres from Bella Coola, B.C., one km to tidewater and logging roads, providing for excellent proximity to infrastructure for cost-effective exploration.
Qualified person
Stephen Roach, PGeo, 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, B.C. 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, B.C. The pulps were also assayed using multielement aqua regia digestion at ALS Canada Ltd.'s lab in Vancouver, B.C. The coarse reject portions of the rock samples, as well as the pulps, were shipped to DSM syndicate's storage facility in Terrace, B.C. 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 parts per million 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 (aqua regia) 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. Quality assurance/quality control 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.
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