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News Release - June 15, 2018 4:38 PM ET 

 

 

Goliath Resources Limited Highly Prospective for Discovery, Golden Triangle BC

 

NEW YORK, NY, June 15,  2018 /Sector Newswire/ -- Goliath Resources Limited (TSX-V: GOT) (Frankfurt: B4IE) is the subject of a Mining MarketWatch Journal review. Goliath Resources offers one of the best opportunities for extraordinary gains in the resource sector at the moment as it prepares to drill two of its four properties proximal to the Golden Triangle in British Columbia. The virgin targets which were previously under glaciers that only recently retreated are exposing exceptional Gold, Silver, and Copper mineralization at surface. GOT.V share price is apt to rise into drilling as the target indicators are of such quality it appears Goliath has potential to realize significant resources;

 

 

1) the 'Prosperity Bullseye Zone' on Goliaths' Lucky Strike Property is a drill ready target with strong and textbook porphyry potential, the zone registers high Au-Cu-Mo in-soil anomalies, believed to be the source of 6 oz nuggets historically found downstream in creeks encircling.

 

Figure 1) Lucky Strike Prosperity Bullseye Zone Target [click to see video of Bullseye target]

 

   

 

2) the Copperhead Property will see exposed volcanic breccia targets drilled starting in 8% Copper and 45 g/t Silver mineralization at surface -- the only question is how deep and what grade.

 

Figure 2) image of 11 metre Cu-Ag sample from Copperhead target at surface. 

 

 

 

A very real possibility exists for investors to experience a major appreciation in share price when a discovery is announced. Analogies for what GOT.V investors have potential to see are what happened to the share prices of GT Gold Corp. (TSX-V: GTT) and Garibaldi Resources Corp. (TSX-V: GGI) when they hit their discovery drill holes in 2017:

 

Figure 1a & 1b (below) -- Charts of GTT ($0.20 to $2.76) and GGI ($0.12 to $5.27) showing what a discovery of significance can do.

e.g.    &  

If you made money on those discoveries in 2017 you will want to reload with GOT.V. 

Full copy of the Mining Journal Review may be viewed at http://miningmarketwatch.net/got.htm online.

 

Both of Goliath's properties are highly prospective for major discovery from upcoming drilling this Summer-2018. The Copperhead Property has widespread highly mineralized volcanic breccia at surface, and Goliath's Lucky Strike Property's Prosperity Bullseye Zone, besides quality placer, also has a huge soil sampling grid that ticks all the boxes for porphyry, SkyTEM affirms this belief with the potential to be massive. In fact, the Prosperity Bullseye Zone has high-grade multi-ounce silver, and almost one ounce gold in bedrock at surface, with zinc, copper, and lead, which appears to be the by-product of a porphyry engine down below -- this porphyry appears to have caused pollymetallic quartz veining at surface which has been documented.  

 

GOT.V currently has a market cap of ~$18.6 million (~84.6 million shares outstanding recently trading at $0.22/share), ~155M fully diluted (with most warrants at ~$0.18 strike price, exercising of warrants will bring in ~$11.5 million to the treasury to fund most of 2019). Entering the Summer-2018 Goliath Resources is cashed-up (having raised ~$3M in an oversubscribed financing in Q2-2018) to complete all its 2018 drilling and exploration plans. The current share float is closer to only ~33 million, there is believed to be a very large contingent of strong hands going into drilling later in 2018 -- the share price is apt to rise substantially pending fireworks.

 

The backstory on Goliath Resources Limited

 

The Founder, President & CEO of Goliath Resources is Roger Rosmus, MBA. He optioned the Company's 4 projects from the J2 Syndicate. The J2 Syndicate had explored from Terrace BC all the way North to the Yukon boarder, specifically looking for original elephant-size potential discoveries resulting from glacial and snowpack recession. Having funded the founder of the J2 Syndicate for many years (Mr. Rosmus is an individual well known in the mining industry for financing/nurturing mining ventures to successful fruition/hand-offs for decades, making money for investors), he had first dibs on the most prospective of J2's properties in 2016. Goliath Resources Limited was incorporated in February of 2017, and $2.2 million was privately raised (they had orders for $3.2 million); most of the people that were putting money into the deal were mining engineers, geologists, and people from the industry that could recognize that Goliath had something really special. All four properties have widespread high-grade mineralization of gold, copper, and/or silver at surface, in bedrock, splattered everywhere -- the bulk of the $2.2M went into the ground in 2017, exploring the ground on its four properties that had previously been hidden under glaciers for the last 15,000+ years and were being seen for the first time.

 

 

Figure 3 (above) -- Location Map of Goliath Resources Limited's 4 projects in prolific mining-friendly region -- Glaciers have melted (due to climate change) and the permanent snow pack is melting, revealing exceptionally highly-mineralized ground. GOT.V has an option to acquire 100% on 4 properties covering 44,003 hectares. In fact, Seabridge, which is in the Golden Triangle, credits climate change for uncovering Canada's biggest gold deposit.

 

Two of Goliaths' four properties, Golddigger and Bingo, are located in the southern tip of the prolific Golden Triangle near Stewart. The other two, which are the ones being drilled this 2018, Lucky Strike and Copperhead, are just to the south.  Goliath is to the south, outside the triangle down near Terrace, where no one has spent a lot of time -- most of mining industry's focus has been in the triangle where the excitement and money flowed from the old Murray Pezim/Eskay Creek gold rush days. Goliath is not a rehash of old projects, it has all brand new discoveries. The majority of Goliath's claims had never had a BC Minfile registered. The Lucky Strike and Copperhead properties are located within the Skeena Arch, a world class geological setting, with a belt-scale structural corridor associated with significant porphyry and related mineralization.

 

All four properties have the potential to be a 'company-maker', one project on its own is enough to be company-makers. If Goliath Resources hits on all the projects it will likely dividend them out to the shareholders, create a new company, and finance each independently.

 

Goliath Resources' M.O.

 

The Company's business model is looking for new elephant-size projects that will tick all the boxes for senior mining companies to do a strategic investment, JV, and/or a potential take-out. Goliath is essentially a 'project generator', it has no intention of taking anything into production. Goliath will take its projects as far up the value curve, as far as it can, and at some point hand it off to the mining engineers and its job is done. 'Probability of success' is what Goliath is looking for.

 

Quality people are behind the management, governance, and technical team

 

We urge readers to view the CV's of key people at the bottom of this article, it is an impressive assemblage of talent. E.g.; Goliath's Senior Exploration and Corporate Development Consultant, Bill Chornobay, has seen a lot of press. He was lead on the team that discovered the Golden Mile in Ontario, which eventually got taken out by Argonaught for $327 million. He originally discovered the Coffee Creek asset up in the Yukon, the Supremo Zone, which was ultimately bought out by Goldcorp for $520 million. A couple years ago he did a $53 million JV with Newmont Mining on his brand new discovery that he generated in the Yukon. He has a proven track record with well over $1 billion in value by following this model that zeros-in on the big and obvious, that tick the boxes for majors, and intends on replicating success for Goliath Resources.

    

The Following is an overview of each of Goliath Resources Limited's projects:

 

#1) Lucky Strike Property, ~30 km North of Terrace, BC - 24,440 ha, 3% NSR on all with 1% buyback provision.

 

Stellar initial grab samples in 2016 came back 24.7 grams per tonne Gold, 172 grams per tonne Silver, 2.04% Copper and 6.3% Zinc, prompting staking. The Prosperity Bullseye Zone on Goliath Resources' Lucky Strike Property will be drilled this summer-2018.


 

 

Figure 4 (above) -- Lucky Strike Project claim map -- The reddish circle shows the location of the primary focus for GOT.V's 2018 drilling plans at Lucky Strike, the Prosperity Bullseye Zone. Goliath is in the right hunting ground for quality porphyry, and also more recently they've recognized VMS. Note the tributaries of Lorne Creek to the East (outside of the property claims) in the image above, ~50 years ago Newmont Mining was looking for porphyry there -- obviously they knew about these highly rich placer creeks with huge nuggets of gold -- but 50 years ago the Prosperity Bullseye was glacial, covered with ice and snow and inaccessible due to glacial ice and permanent snowpack. If the old timers could have gotten into Prosperity Bullseye Goliath Resources technical team would have found adits and the place would have been mined.

 

Infrastructure: Goliath's Lucky Strike Project has logging road access, is only 3 km to a major highway, power, and is only ~30 km (by Highway) north of major infrastructure in Terrace, BC. 

 

 

Figure 5 (above) -- Image of Prosperity Bullseye Zone at Lucky Strike Project -- The reason the zone it is called 'Bullseye" is because of the gold laden creeks encircling a ~3.4 km x 2.4 km bullseye. The water stream comes right up to bench seen in the image above. There is gold in the placers that flow North, South, East, and West. You don't need to be a geologist to figure out where the gold is coming from here, and 6 oz gold nuggets don't swim upstream.
 

The Prosperity Bullseye Zone has all the making of a new massive porphyry discovery and is drill ready

 

 

Figure 6 (above) -- 3D Model of Goliath's Lucky Strike Property Prosperity Bullseye Zone. With SkyTEM the modeling is a textbook porphyry, ~2.5 km x 1.5 km and at least 500m deep, with magnetic highs, and conductive shells. The big blob in the centre of this image is where Goliath will be drilling, in the middle, above where it did the positive soil geochem.

 

Click to view 3D Model Video of the Prosperity Bullseye Zone:

 

 

The Prosperity Bullseye Zone at Lucky Strike is 2.4km x 3.4km at the head waters of two prolific placer creeks and indicates strong Porphyry Potential; open in all directions.

 
SkyTEM electromagnetic aerial survey found concentric, highly conductive zones flanking magnetic highs, a classic porphyry signature extending over 2500 x 1500 x 500 metres and remains open to depth.

 
Coincident with the SkyTEM geophysical anomaly soil geochemistry defined a 2000 x 400 metre zone of anomalous gold-copper-molybdenum. The zone remains open.

 
The soil anomaly has a geochemical signature consistent with some porphyry systems.

 
Grab sample taken from an intrusive rock assayed 0.29% Mo, similar to other porphyry systems in this region.

 
IP, trenching and mapping will be completed prior to drilling.

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Soil sampling at Goliath's Lucky Strike Property Prosperity Bullseye Zone

 

 

 

Figure 7 (above) - Soil sampling grid; A 2 km x 400 m grid yielded up to 7.27 gpt Gold, 557 ppm Copper, 65 ppm Molybdenum, 50 ppm Tungsten, 4 ppm Antimony and 10 ppm Bismuth.

 

 

Figure 8 (above) - Anomalous block model, Prosperity Bullseye Zone.

 

 

Figure 9 (above) - Prosperity Bullseye Zone Summary of porphyry indicators.

 

 

Figure 10 (above) - Close up view of alteration sample 25535 -- (μm = one millionth of a meter) Seen is porphyritic/equigranular intrusive rock with phyllic alteration and disseminated pyrite and chalcopyrite. Red dotted outline of fine-grained sericitized feldspar phenocrysts can be recognized in aplitic groundmass.

 

Sample results from soil samples as well as grabs from exposed bedrock occurring in polymetallic quartz veins at Prosperity Zone include:

 
Detailed Soil Sampling Grid 25 x 25 Metre Over an Area of 2000 x 400 Metres:
   up to 7.27 gpt Gold, 557 ppm Copper, 65 ppm Molybdenum, 50 ppm Tungsten, 4 ppm Antimony and 10 ppm Bismuth.

 
Channel Cut Over 0.21 Metres:
   1.66 gpt Gold, 105 gpt Silver, 0.08% Copper, 0.39% Zinc and 5.45% Lead.

 
Chip over 1.2 Metres:
   22.3 gpt Gold and 31.5 gpt Silver.

 
Grabs from exposed bedrock at surface:
   0.29% Molybdenum similar to other porphyry systems in this region.
   23.9 grams per tonne Gold and 32.2 grams per tonne Silver.
   24.7 grams per tonne Gold, 172 grams per tonne Silver, 2.04% Copper and 6.3% Zinc.
   1.53 grams per tonne Gold and 149 grams per tonne Silver.
   0.3 grams per tonne Gold, 188 grams per tonne Silver, 0.41% Copper and 8.34% Lead.
   1.6 grams per tonne Gold and 100 grams per tonne Silver.
   122 grams per tonne Silver and 4% Lead.

 

2018 Plans at Goliath's Lucky Strike Property Prosperity Bullseye Zone: Goliath knows where it will drill. Drilling will start with a modest program of ~500 m to validate the porphyry.

 

Note: Goliath also is advancing the Kingpin Zone on the Lucky Strike Property, however that will not be a drill target for 2018. Details of the kingpin Zone may be located further below in this article under 'Other Projects/Properties' section.

 

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#2) Copperhead Property, ~40 km SW of Smithers, BC - 4,354 ha, 3% NSR on all with 1% buyback provision.

 

Goliath will drill the Copperhead Property this summer-2018.

Figure 11 (above) Copperhead Property claims map.

 

Copper King Trend is 2000 x 350 metres and has strong porphyry potential. The zone remains open in all directions.
 

SkyTEM aerial magnetics and electromagnetic data discovered an intense magnetic high and adjacent resistive zone, consistent with a hydrothermal alteration system.
 

Ground geophysics, trenching, and channel sampling will be completed prior to drilling.

 

Infrastructure: Goliath's Copperhead Project has logging road access, is ~3 km to a major road, power, and ~40 kilometres southwest of major infrastructure in Smithers, BC.

 

Figure 12 (above) Copperhead Property claims map, with image of 11 metre chip sample from target area. Goliath has exceptional grades at surface and several drill ready targets.

 

The Copper King Trend is 2000 x 350 metres and has strong potential to be a large fault breccia system. The zone remains open in all directions.
 

Ground geophysics, trenching, and channel sampling will be completed prior to drilling.

 

Massive and semi-massive sulphide breccias are documented in an area of sparse outcrop over 450 metres with potassic alteration. Breccia grab samples of copper mineralization up to 7.97 %.
 

Drill ready target at location of 11 metre chip sample from a volcanic breccia containing massive and semi-massive sulphides that returned 0.17 g/t Au, 4.28 % Cu, and 45.41 g/t Ag. The chip sample started and ended in mineralization that remains open.
 

Drill ready target at location of 8 metre chip sample from breccia that returned 0.08 g/t Au, 1.57 % Cu, and 12.45 g/t Ag. The chip sample started and ended in mineralization that remains open.

 

  

 

Figure 13 & 14 (above) high quality widespread mineralization at surface.

 

 

Figure 15 (above) high quality widespread mineralization at surface.

 

2018 Plans at Goliath's Copperhead Property: Goliath will certainly drill where it has ~8% copper at surface, and the area with ~4% and 45 g/t Silver mineralization as well, among others. 

  

Full copy of the Mining Journal Review may be viewed at http://miningmarketwatch.net/got.htm online.

 

This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell any of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URL(s).

 

 

SOURCE: Sector Newswire editorial

editorial@SectorNewswire.com

 

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