Sector: Mining, Energy, Industrial, Transportation :
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;
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.
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:
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.
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
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
• 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.
SOURCE: Sector Newswire editorial