Goliath Resources Limited Announces Mobilization of Its 24,000 m Diamond Drill Program

Goliath Resources Limited is delighted to confirm that it has mobilized for its scheduled 24,000 m diamond drill program on the Golddigger Project’s large high-grade gold-silver deposit. It is designed for infill drilling and depth testing in the recently found Surebet Zone’s outer extremities.

Newly Discovered Surebet Zone Highlights:

• Over 1 km of strike, 100% of the 24 holes drilled during the inaugural campaign in 2021 encountered substantial widths of high-grade gold-silver mineralization, confirming 1.1 km of down-dip extent:
  • Over 5.87 m*, the average grade and width from all 24 holes were 6.29 gpt AuEq (4.35 gpt Au and 104.94 gpt Ag)
  • GD-21-03 intersected 6.37 gpt AuEq (4.46 gpt Au and 122.13 gpt Ag) over 35.72 m*
• Completely financed 24,000 m drill campaign with four diamond drill rigs, totaling 85 holes from 24 different drill pad locations
• The Surebet Zone is part of a deep-rooted intrusion-related precious metals system that originated at a large depth of 5–6 km below paleosurface, indicating that it is likely vast and has high growth potential
• Drilling carried out on the recently found Extension Target has the potential to dramatically increase the footprint to the southeast by 1.2 km
• Infill drilling and targeting the outer extremities of the known gold-silver zone down-dip will be part of the 2022 campaign to trace the length of this enormous high-grade system that remains open
• Metallurgical recoveries of 98.2% gold from gravity and flotation, including 38.1% free gold from gravity, are exceptional

This new discovery was found on tidal water in a world-class geological setting near Stewart, BC, in British Columbia’s Golden Triangle. The Kinskuch Project (Hecla Mining Company) and the Homestake Ridge Deposit and Dolly Varden Silver Mine (Dolly Varden Silver Corp.) are both close by.

Goliath has designed a 24,000-m drill campaign, consisting of 85 holes drilled from 24 different drill pads, to target the vast high-grade gold-silver structural finding exhibited at the surface at the Surebet Zone, both along strike and to depth.

All 24 holes of 5,332 m in the inaugural 2021 drill program struck substantial widths of high-grade gold silver across 1 km of strike and verified 1.1 km of down-dip extension.

We are very pleased to have mobilized for our aggressive 2022 drill campaign at our newly discovered Surebet Zone. This new discovery has already demonstrated to be an extensive robust system that is structurally controlled down-dips 1.2 km confirmed by drilling in 2021. We have identified multiple strong drill targets focused on significantly expanding the potential size of this system that remains open.

Mr. Roger Rosmus, CEO, Goliath Resources Limited

Rosmus added, “The Golddigger property is in geo-political safe jurisdiction and key geologic setting where many world-class deposits have been discovered. The Surebet Zone potential has been compared to the past producing high-grade Silbak Premier Mine just to the north and certainly has the early makings of the next big discovery in the Golden Triangle. We look forward to reporting our drilling results with much anticipation.”

Golddigger Property

The Golddigger Property is 100% owned and spans 23,859 hectares (59,646 acres or 239 km²) amid the world-class geological setting of the Eskay Rift in British Columbia’s Golden Triangle, and it is only 2 km from the Red Line, which is home to many world-class deposits.

The land lies 30 km southeast of Stewart, British Columbia, on tidewater. The Kinskuch Project (Hecla Mining Company) is located near the Homestake Ridge Deposit & Dolly Varden Silver Mine (Dolly Varden Silver Corp.).