Goliath Mobilized for Its 2019 Exploration and Drilling Season in the Prolific Golden Triangle and Surrounding Area

TORONTO, June 12, 2019 (GLOBE NEWSWIRE) — Goliath Resources Ltd. (TSX-V: GOT) (FSE: B4IE) (OTCQB: GOTRF) (the “Company or “Goliath”) is pleased to announce the crew has mobilized to Terrace, British Columbia in preparation of its planned summer exploration and drilling season at its 100% controlled Golddigger and Lucky Strike Projects.

The Golddigger property covers 14,220 hectares and is located on tide water 30 kilometres south east of Stewart, British Columbia in the Golden Triangle. The exploration program for this year will focus on expanding the dataset on the newly discovered Red Line Corridor and Goldswarm Breccia Zones in preparation for drilling in 2020. Link to property video (Click Here).

Property highlights include:

  • Within two kilometres of the unconformity between Lower Hazelton and Stuhini rocks, also known as the “Red Line”, the key location where the vast majority of major deposits have been found within the Golden Triangle (link to map);
  • Grabs up to 113.50 g/t Au 249.00 g/t Ag;
  • 0.55 m Channel grading 29.70 g/t Au and 14.30 g/t Ag (link to image);
  • 0.40 m Channel grading 25.10 g/t Au and 126.00 g/t Ag (link to image);
  • 0.50 m Chip grading 47.50 g/t Au and 272.00 g/t Ag (link to image);
  • 0.50 m Chip grading 24.50 g/t Au and 77.10 g/t Ag (link to image).

The Lucky Strike property is 31,511 hectares in size that has logging road access, a few kilometers to a major highway, power, rail and only 40 km north of Terrace, British Columbia by paved highway to additional infrastructure. The objective of the upcoming planned diamond drill program will be to trace the newly discovered Lorne Creek Au-Cu-Mo Porphyry System to depth at its outcropping mineralized porphyry. Link to target video (Click Here).

Property highlights include:

  • A mineralized Au-Cu-Mo porphyry centre has been confirmed that is defined by a large 1200 by 700 metre alteration system, that is cored by QSP (link to image), containing gold-bearing chalcopyrite and molybdenite stockwork mineralization;
    • The gold, copper, and molybdenum grades from the Lorne Creek Porphyry system are consistent with typical porphyry systems.
  • The Lorne Creek Porphyry Discovery is at the headwaters of Lorne Creek, the most prolific placer gold producer in the district.
  • Historical placer gold production of 13,721 troy ounces and nuggets of up to 1.5 ounces gold (see BC MINFILE No. 103I204, 103I050 and 103I207).
  • Mapping has highlighted a spatial link between polymetallic Au/Pb/Zn/Cu/Ag (link to image) veins and Cu-Mo porphyry centres. These veins are coincident with historically documented porphyry related polymetallic veins in Lorne Creek. Link to samples video (Click Here).
  • Along the headwaters of Lorne Creek, a series of silt samples were taken during the 2017 season. These returned multi-element anomalies, including copper, molybdenum, and gold values up to 406 ppb. A historic BC MINFILE report (No. 103l027) from this creek reports angular, pyritized and quartz-veined boulders hosted in a molybdenum-rich porphyry environment.
  • The Lorne Creek Porphyry System is located within a larger known porphyry belt.

Mr. Roger Rosmus, CEO and Director of Goliath states:
“The newly discovered mineralized gold, copper, molybdenum porphyry core outcropping at surface is an extremely rare find. Management believes this porphyry system to be the source of the placer gold that has been historically produced from Lorne Creek. This new discovery has already attracted interest from several miners alike. With positive drilling results, the Lorne Creek Au-Cu-Mo Porphyry System is poised to quickly evolve into the next big porphyry discovery. We are very excited and look forward to reporting all of our 2019 results with much anticipation”.

Qualified Person
Stephen Roach P. Geo is the qualified person as defined by National Instrument 43-101, for Goliath exploration projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release.

For more information please contact:

Goliath Resources Limited
Mr. Roger Rosmus
President and Chief Executive Officer
Tel: +1.416.488.2887 x222

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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 inaccuracies, 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 before 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.

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