TORONTO, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to announce that Mr. Roger Rosmus, Founder & CEO will be presenting at Noble Capital Markets’ Basic Industries Emerging Growth Virtual Equity Conference on Wednesday, September 25th @ 11:00am – TRACK 1, Eastern Standard Time. The broadcasted formal presentation will feature a fireside style Q&A session with questions welcome from the virtual audience. Scheduled 1x1 meetings with Mr. Rosmus are also available for registered, qualified investor attendees.
Attendees interested in viewing the presentation can register for this event, at no cost, by clicking here: Virtual Equity Conference Registration.
A video webcast of the presentation will be available following the event on the Company's website www.goliathresourcesltd.com and as part of a complete catalog of presentations available on Channelchek www.channelchek.com the investor portal created by Noble. The webcast will be archived on the Company's website and on Channelchek.com for 90 days following the event.
About Noble Capital Markets, Inc.
Noble Capital Markets (“Noble”) is a U.S. based research driven investment bank that has supported small & microcap companies since 1984 (Website). As a FINRA and SEC licensed broker dealer Noble provides institutional-quality equity research, merchant and investment banking, and order execution services. In 2005, Noble established NobleCon, an investor conference that has grown substantially over the last two decades. Noble launched www.channelchek.com in 2018 - an investor community dedicated exclusively to public small and micro-cap companies and their industries. Channelchek is the first service to offer institutional-quality research to the public, for FREE at every level without a subscription. More than 6,000 public emerging growth companies are listed on the site, with growing content including research, webcasts, podcasts, and balanced news. Goliath will also be presenting at the 20th NobleCon, and is a sponsor of “The After” celebrating Noble’s 40th year in business - Emerging Growth Equity Conference, Boca Raton, December 3 – 4, 2024; Click Here.
Goliath’s New Surebet Discovery Of A High-Grade Gold System and Company Highlights:
- Strategic cornerstone shareholders include Crescat Capital, Mr. Larry Childress (post current funding), Mr. Rob McEwen, Mr. Eric Sprott and a Global Commodity Group, Singapore.
- Located in a mining friendly jurisdiction within a world class geological setting of the Golden Triangle, British Columbia, Canada and has excellent infrastructure including the town of Kitsault built by Phelps Dodge in the 70's at ~C$50 million cost that can house up to 300 people; Camp Goliath - Kitsault (Click Here)
- Next to the old Kitsault Mine, a permitted brownfield mine site on private property, which is located on the BC Hydro grid with road access to the Nass Valley and tidewater access to Prince Rupert.
- Surebet’s mineralization can be seen at surface for 1.0 kilometers of strike and 1.1 kilometers down-dip extent appears to continue below the valley floor with 700 meters of vertical relief that has exceptional continuity; the more it gets drilled the bigger the system gets based on results to date.
- 66,930 meters have been drilled to date at the Golddigger property (2021 – 2023) + ongoing ~36,000 meters in 2024 with the vast majority of holes targeting the Surebet Discovery with a 100% success rate.
- The gold mineralization has excellent metallurgical recoveries of 92.2% Gold from gravity and flotation, including 48.8% free gold from gravity alone at a 327 micron crush; no deleterious minerals or cyanide required.
- 44 holes (or 35%) of 124 holes drilled in 2023 contained Visible Gold with nuggets up to 11 mm in size.
- Best hole to date is GD-23-180 assaying 86.99 g/t AuEq (86.84 g/t Au and 6.52 g/t Ag) over 5.90 meters.
- Highest concentration of visible gold in drill core and 66% of the holes contain visible gold (Sept 3/24 news).
- 2024 drilling has outlined the Bonanza High-Grade Gold Triangle (assays pending) within the Surebet Discovery measuring 410 x 612 x 720 meters with holes assaying over 1 oz/t Gold up to 9 meters ~true width.
- The system has exceptional continuity of the gold mineralization that is predictable with our geological team having a strong understanding of the system.
- Drilling thus far shows a majority of the coarser grain visible gold seen up to 11 mm in size is hosted further downhole near or within the volcanics and still above the valley floor; system remains open.
- Deeper drill holes tested near and below the valley floor in 2024 has intercepted 4 new mineralized horizons with one containing visible gold 460 meters below the valley floor; gold mineralization remains wide open in all directions for further new discoveries.
- The Golddigger property is fully permitted until 2029 for 199 drill pads.
- 10 gold mineralized vein horizons have been identified to date and remain open.
- The mineralized footprint of the Surebet Discovery corresponds to 1.8 km2, the equivalent in size to >336 NFL football fields and remains wide open.
Goliath’s New Treasure Island Discovery, VMS Style High-Grade Gold & Copper Highlights:
- Treasure Island is a 500 x 450 meter mineralized outcrop of high-grade gold-copper that has all the indications of another potential material discovery for Goliath ~40 kms north of the Surebet Discovery on the Golddigger Property.
- A maiden drill program was completed in 2024, totaling 2,938 meters drilled, 12 holes and from 4 pad locations.
- Certain drill holes from each pad location averaged 29.99 meters wide of mineralization, inclusive of 6.79 meters of moderate, semi-massive and massive sulphide mineralization in quartz-sulphide breccia.
- Drill hole number TI-24-01 is comparable to what was observed in a surface channel cut, which assayed 28.08 gpt AuEq (20.60 gpt Au, 63.60 gpt Ag and 5.04 % Cu) over 0.85 meters and confirms the continuity of the system at depth.
Qualified Person
Rein Turna P. Geo is the qualified person as defined by National Instrument 43-101, for Goliath Resource Limited projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release. Mr. Turna is also a director of the Company.
About Goliath Resources Limited
Goliath Resources Limited is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia. All of its projects are in world class geological settings and geopolitical safe jurisdictions amenable to mining in Canada. Goliath is a member and active supporter of CASERM which is an organization represents a collaborative venture between Colorado School of Mines and Virginia Tech. Goliath’s key strategic cornerstone shareholders include Crescat Capital, Mr. Rob McEwen, Mr. Eric Sprott,
Mr. Larry Childress (post current pp close), and a Global Commodity Group based in Singapore.
For more information please contact:
Goliath Resources Limited
Mr. Roger Rosmus
Founder and CEO
Tel: +1.416.488.2887
roger@goliathresources.com
www.goliathresourcesltd.com
Other
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.
Portable XRF (X-Ray Fluorescence) readings are semi-quantitative measurements and calibrations of the equipment in the field not always allow to compare results to certified reference materials but are used as guideline to augment the understanding of the mineralization observed. These measurements are not intended to be representative of the geochemical composition of the material measured. XRF readings are carried out using a handheld device and could be influenced by external factors.
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 North Vancouver. ALS is either certified to ISO 9001:2008 or accredited to ISO 17025:2005 in all of its locations. At ALS samples were processed, dried, crushed, and pulverized before analysis using the ME-MS61 and Au-SCR21 methods. For the ME-MS61 method, a prepared sample is digested with perchloric, nitric, hydrofluoric, and hydrochloric acids. The residue is topped up with dilute hydrochloric acid and analyzed by inductively coupled plasma atomic emission spectrometry. Overlimits were re-analyzed using the ME-OG62 and Ag-GRA21 methods (gravimetric finish). For Au-SCR21 a large volume of sample is needed (typically 1-3kg). The sample is crushed and screened (usually to -106 micron) to separate coarse gold particles from fine material. After screening, two aliquots of the fine fraction are analysed using the traditional fire assay method. The fine fraction is expected to be reasonably homogenous and well represented by the duplicate analyses. The entire coarse fraction is assayed to determine the contribution of the coarse gold.
Widths are reported in drill core lengths and the true widths are estimated to be 80-90% and AuEq metal values are calculated using: Au 2398.13 USD/oz, Ag 28.118 USD/oz, Cu 4.10 USD/lbs, Pb 2067.5 USD/ton and Zn 2669 USD/ton on July 28th, 2024. There is potential for economic recovery of gold, silver, copper, lead, and zinc from these occurrences based on other mining and exploration projects in the same Golden Triangle Mining Camp where Goliath’s project is located such as the Homestake Ridge Gold Project (Auryn Resources Technical Report, Updated Mineral Resource Estimate and Preliminary Economic Assessment on the Homestake Ridge Gold Project, prepared by Minefill Services Inc. Bothell, Washington, dated May 29, 2020). Here, AuEq values were calculated using 3-year running averages for metal price, and included provisions for metallurgical recoveries, treatment charges, refining costs, and transportation. Recoveries for Gold were 85.5%, Silver at 74.6%, Copper at 74.6% and Lead at 45.3%. It will be assumed that Zinc can be recovered with the Copper at the same recovery rate of 74.6%. The quoted reference of metallurgical recoveries is not from Goliath’s Golddigger Project, Surebet Zone mineralization, and there is no guarantee that such recoveries will ever be achieved, unless detailed metallurgical work such as in a Feasibility Study can be eventually completed on the Golddigger Project.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the OTCQB Venture Market accepts responsibility for the adequacy or accuracy of this release.
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.
The forward-looking information contained in this release is made as of the date hereof and Goliath is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
This announcement does not constitute an offer, invitation, or recommendation to subscribe for or purchase any securities and neither this announcement nor anything contained in it shall form the basis of any contract or commitment. In particular, this announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal.
The securities referred to herein have not been and will not be will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/34b8cf97-04a2-4c7b-a14a-ede6ea36912b
