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Assays Compilation, Interpretation and Modeling For 83 More Holes Are Underway

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Drilling Highlights:

  • Strong gold mineralization assaying 12.03 g/t AuEq (11.84 g/t Au and 15.61 g/t Ag) over 10.00 meters, including 19.91 g/t AuEq (19.62 g/t Au and 25.61 g/t Ag) over 6.00 meters plus a second separate interval assaying 8.59 g/t AuEq (8.35 g/t Au and 20.74 g/t Ag) over 5.00 meters, including 14.26 g/t AuEq (13.87 g/t Au and 34.10 g/t Ag) over 3.00 meters have been confirmed in an intrusion related feeder dyke that remains open, strongly indicating close proximity to a large gold-rich intrusive source at depth (Reduced Intrusion Related Gold system, RIRG).
  • Strong mineralization confirmed in 100% of 243 widespread drill holes containing 300 intercepts to date within 1.8 km2 area where 8 stacked gold veins as well as 5 new stacked gold veins have been identified and confirmed by assays. Confirmation of multiple stacked gold veins and widespread gold rich reduced intrusion feeder dykes within the 1.8 km2 area up to >1.2 km deep that remain open both laterally and to depth, confirms the continuity of the widths and grades at Surebet demonstrating this world class gold system has tremendous additional untapped expansion potential remaining.
  • GD-22-58 intercepted two separate intervals with exceptional gold grades over substantial widths within a reduced intrusion related porphyritic intermediate feeder dyke containing visible gold, bismuth and molybdenum mineralization reminiscent of a RIRG system that remains open:

    • 12.03 g/t AuEq (11.84 g/t Au and 15.61 g/t Ag) over 10.00 meters, including 19.91 g/t AuEq (19.62 g/t Au and 25.61 g/t Ag) over 6.00 meters, including 23.82 g/t AuEq (23.47 g/t Au and 30.54 g/t Ag) over 5.00 meters.
    • 8.59 g/t AuEq (8.35 g/t Au and 20.74 g/t Ag) over 5.00 meters, including 14.26 g/t AuEq (13.87 g/t Au and 34.10 g/t Ag) over 3.00 meters.
    • An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/8be74eae-e539-40a0-8fe3-f97bb0fdf895
  • Widespread gold-rich RIRG mineralization in mineralized porphyritic dykes has been previously reported in drill holes GD-24-237 which intercepted 10.50 g/t AuEq (10.41 f/t Au and 7.15 g/t Ag) over 7.00 meters, GD-23-180 which intercepted 3.46 g/t AuEq (3.43 g/t Au and 2.68 g/t Ag) over 7.00 meters, and GD-23-226 which intercepted 1.85 g/t AuEq (1.85 g/t Au and 0.00 g/t Ag) over 8 meters.

  • Continued confirmation of high gold grades in this newly discovered RIRG system characterized by considerable amounts of visible gold, bismuth, and molybdenum mineralization in the felsic to intermediate porphyritic dykes on Surebet as well as in the intrusions surrounding Surebet (i.e. Blue Origin) could greatly increase the resource potential of the Surebet discovery.
  • Drilling in 2025 will focus on expanding the stacked layers of gold mineralization that remains open in all directions, including to depth and vectoring in on the reduced intrusion indicated at depth believed to be the source for the extensive high-grade gold mineralization on the Surebet discovery currently covering at least 1.8 km2.
  • GD-24-250 intercepted multiple stacked intervals of strong gold mineralization consisting of quartz-sulphide veining and breccias with visible gold, sphalerite and galena from the Whopper vein, Surebet Zone and Bonanza shear that remain open:
    • Whopper Vein: 6.55 g/t AuEq (6.45 g/t Au and 4.08 g/t Ag) over 6.69 meters, including 9.48 g/t AuEq (9.34 g/t Au and 5.33 g/t Ag) over 4.61 meters.
    • Surebet Zone: 4.49 g/t AuEq (3.88 g/t Au and 14.44 g/t Ag) over 4.90 meters, including 5.48 g/t AuEq (4.72 g/t Au and 29.92 g/t Ag) over 3.75 meters.
    • Bonanza Shear: 11.66 g/t AuEq (11.13 g/t Au and 17.82 g/t Ag) over 5.97 meters, including 17.48 g/t AuEq (16.71 g/t Au and 26.24 g/t Ag) over 3.97 meters.
    • An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/4b5f7eb9-693c-46c7-bbaf-904e913d3af4
  • GD-24-291 intercepted substantial gold mineralization consisting of quartz-sulphide veins and breccia intervals with visible gold, galena, sphalerite and minor chalcopyrite in several stacked intervals corresponding to the Bonanza Shear and the Golden Gate zone that remain open:
    • Bonanza Shear: 6.14 g/t AuEq (6.10 g/t Au and 1.50 g/t Ag) over 5.00 meters, including 16.15 g/t AuEq (16.12 g/t Au and 1.24 g/t Ag) over 1.00 meter.
    • Bonanza Shear: 2.86 g/t AuEq (2.74 g/t Au and 5.37 g/t Ag) over 6.00 meters, including 8.35 g/t AuEq (8.23 g/t Au and 6.34 g/t Ag) over 1 meter.
    • Golden Gate: 6.32 g/t AuEq (6.29 g/t Au and 1.51 g/t Ag) over 6.00 meters, including 9.45 g/t AuEq (9.41 g/t Au and 2.07 g/t Ag) over 4.00 meters.
    • An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/a3eefe41-11b7-4f32-86d3-987a3abd2b6c
  • GD-24-263 intercepted 3 stacked gold mineralized zones with quartz-sulphide vein stockwork and breccias with sections of semi-massive to massive sphalerite and galena, as well as visible gold in an interval corresponding to the Bonanza Shear that remain open:
    • New stacked Gold Vein: 2.06 g/t AuEq (1.92 g/t Au and 4.01 g/t Ag) over 6.17 meters, including 2.43 g/t AuEq (2.27 g/t Au and 4.57 g/t Ag) over 5.13 meters.
    • New stacked Gold Vein: 2.08 g/t AuEq (1.93 g/t Au and 5.76 g/t Ag) over 10.32 meters, including 2.24 g/t AuEq (2.06 g/t Au and 6.78 g/t Ag) over 5.19 meters.
    • Bonanza Shear: 8.56 g/t AuEq (8.37 g/t Au and 12.71 g/t Ag) over 6.00 meters, including 10.27 g/t AuEq (10.05 g/t Au and 15.25 g/t Ag) over 5.00 meters, including 12.84 g/t AuEq (12.56 g/t Au and 19.02 g/t Ag) over 4.00 meters.
    • An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/8c5c59aa-b4f9-40f6-84ae-6e6d3a40f704
  • GD-24-290 intercepted exceptional stacked intervals of quart-sulphide veining and breccias in 4 mineralized horizons containing pyrrhotite, sphalerite and galena the deepest of which corresponds to the Bonanza Shear that remains open:
    • New stacked Gold Vein: 7.96 g/t AuEq (7.88 g/t Au and 5.52 g/t Ag) over 4.85 meters, including 13.49 g/t AuEq (13.38 g/t Au and 8.87 g/t Ag) over 2.85 meters.
    • New stacked Gold Vein: 3.42 g/t AuEq (3.40 g/t Au and 1.44 g/t Ag) over 5.00 meters, including 8.41 g/t AuEq (8.38 g/t Au and 2.88 g/t Ag) over 2.00 meters.
    • New stacked Gold Vein: 4.50 g/t AuEq (4.49 g/t Au and 0.84 g/t Ag) over 5.15 meters.
    • Bonanza Shear: 4.24 g/t AuEq (4.18 g/t Au and 2.71 g/t Ag) over 4.98 meters.
    • An accompanying infographic is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/49f7b451-444c-4f59-a570-974285be6b3d
  • GD-24-241 intercepted an excellent interval of quartz-sulphide veining containing visible gold, sphalerite and galena corresponding to the Bonanza Shear that remains open:

  • With only 15 months of boots on the ground, the strong mineralization consistently observed in 100% of all 243 drill holes collared within a 1.8 km2 area to date clearly demonstrates the continuity and predictability of this extensive mineralizing system that remains open in all directions providing for excellent additional discovery and expansion potential.

  • 100% of 243 widespread holes drilled on Surebet intersected the targeted mineralized zones in 300 intercepts, 106 of which intersected visible gold including the 64 holes drilled in 2024 which intercepted significant mineralization with 92% of the holes (or 59 out of 64 holes) containing visible gold, demonstrating the excellent continuity and predictability of this extensive high-grade world class gold discovery that remains wide open.
  • Metallurgical testing has shown exceptional gold recoveries of 92.2% from gravity and floatation requiring only a 327 micrometer crush, with 48.8% occurring as free gold; no cyanide required to recover the gold.
  • Assays compilation, interpretation and modeling are currently underway for an additional 83 holes and will be announced shortly: 45 drilled in 2024 (38 or 84% have visible and or abundant visible gold), 12 drilled into the Reduced Intrusive Dykes 2021-2023 (5 or 42% have visible and or abundant visible gold), 14 relogged shoulders 2021 - 2023 (3 or 21% have visible and or abundant visible gold) and 12 from VMS style mineralization at Treasure Island 40 km to the north of Surebet.
TORONTO, Feb. 10, 2025 (GLOBE NEWSWIRE) -- Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the "Company” or "Goliath”) is pleased to report exceptional gold intercepts of 12.03 g/t AuEq (11.84 g/t Au and 15.61 g/t Ag) over 10.00 meters, including 19.91 g/t AuEq (19.62 g/t Au and 25.61 g/t Ag) over 6.00 meters plus a second separate interval assaying 8.59 g/t AuEq (8.35 g/t Au and 20.74 g/t Ag) over 5.00 meters, including 14.26 g/t AuEq (13.87 g/t Au and 34.10 g/t Ag) over 3.00 both from a high-grade gold intrusive feeder dyke that remains open at Surebet on its 100% controlled Golddigger Property (the "Property”), Golden Triangle, B.C. This excellent interval clearly indicates close proximity to a large feeder source at depth believed to be a Reduced Intrusion Related Gold system (RIRG). In addition, initial assays compiled/modeled for 5 additional drill holes from the successful 2024 drill program intersected excellent gold grades up to 11.66 g/t AuEq (11.13 g/t Au and 17.82 g/t Ag) over 5.97 meter in the shear hosted veins at Surebet, clearly demonstrating minable widths and grades and exceptional continuity and predictability of this large expanding world-class gold discovery that remains wide open both laterally and to depth with tremendous untapped discovery potential remaining.

Assays compilation, interpretation and modeling are currently underway for an additional 83 holes and will be announced shortly: 45 drilled in 2024 (38 or 84% have visible and or abundant visible gold), 12 drilled into the Reduced Intrusive Dykes 2021-2023 (5 or 42% have visible and or abundant visible gold), 14 relogged shoulders 2021 - 2023 (3 or 21% have visible and or abundant visible gold) and 12 from VMS style mineralization at Treasure Island 40 km to the north of Surebet.

  • GD-22-58 intercepted two separate intervals with exceptional gold grades over substantial widths within a reduced intrusion related porphyritic intermediate feeder dyke that remains open containing visible gold, bismuth and molybdenum mineralization reminiscent of a RIRG system at depth:

    • 12.03 g/t AuEq (11.84 g/t Au and 15.61 g/t Ag) over 10.00 meters, including 19.91 g/t AuEq (19.62 g/t Au and 25.61 g/t Ag) over 6.00 meters, including 23.82 g/t AuEq (23.47 g/t Au and 30.54 g/t Ag) over 5.00 meters.
    • 8.59 g/t AuEq (8.35 g/t Au and 20.74 g/t Ag) over 5.00 meters, including 14.26 g/t AuEq (13.87 g/t Au and 34.10 g/t Ag) over 3.00 meters.
Roger Rosmus, Founder and CEO of Goliath Resources, states: "We are excited to see such high-grade gold mineralization in the RIRG feeder dykes as well as the consistent continuity and predictability of the high-grade gold mineralization in multiple stacked veins similar to those seen in the world-class >10 Moz high-grade underground Pogo gold mine. Based on 100% hit rate in 243 widespread holes with 300 intercepts drilled to date within the 1.8 km2 area of Surebet we look forward to moving into a low-risk expansion and infill drilling phase in 2025. We look forward to reporting additional assays from 83 holes remaining once compiled, interpreted and modelled with a planned updated model before the end of the month confirming the scale and geometry of this world-class gold discovery that remains wide open. Based on the extensive dataset and understanding we are certainly on track to expand this bonanza grade discovery both laterally and to depth targeting the existing and new high-grade layers and ultimately the source of the extensive gold system. The serious interest already garnered from multiple miners and institutions alike clearly demonstrates a world-class discovery like Surebet is an extremely rare opportunity. We look forward to unlocking its full value for all of our stakeholders.”

Gold-rich RIRG mineralization in multiple mineralized porphyritic dykes has been previously reported in drill holes GD-24-237 which intercepted 10.50 g/t AuEq (10.41 f/t Au and 7.15 g/t Ag) over 7.00 meters, GD-23-180 which intercepted 3.46 g/t AuEq (3.43 g/t Au and 2.68 g/t Ag) over 7.00 meters, and GD-23-226 which intercepted 1.85 g/t AuEq (1.85 g/t Au and 0.00 g/t Ag) over 8 meters (released on December 12, 2024).

Strong mineralization has been confirmed in 243 drill holes containing 300 intercepts that intersected the 8 known stacked mineralized gold veins as well as the reduced intrusion feeder dykes within the 1.8 km2 area and over 1.2 km deep that remains open laterally and to depth, clearly showing the exceptional continuity of widths and grades at Surebet. Continued confirmation of high gold grades in this newly discovered RIRG system characterized by considerable amounts of visible gold, bismuth, and molybdenum mineralization in the felsic to intermediate porphyritic dykes on Surebet as well as in the intrusions surrounding Surebet could greatly increase the resource potential of the Surebet discovery.

Drilling in 2025 will focus on expanding the mineralization in all directions, including to depth vectoring in on the reduced intrusion indicated source for the extensive high-grade gold mineralization on the world-class Surebet discovery.

With only 15 months of boots on the ground, the strong mineralization consistently observed in 100% of all 243 drill holes with 300 intercepts collared within a 1.8 km2 area to date clearly demonstrates the continuity and predictability of this extensive mineralizing system that remains open in all directions providing for excellent additional discovery and expansion potential. All 64 holes drilled in 2024 have intercepted significant mineralization with 92% of the holes (or 59 out of 64 holes) containing occurrences of visible gold, demonstrating the excellent continuity of this extensive high-grade gold system that remains wide open in all directions.

  • GD-24-250 intercepted multiple stacked intervals of strong gold mineralization consisting of quartz-sulphide veining and breccias with visible gold, sphalerite and galena from the Whopper vein, Surebet Zone and Bonanza shear that remain open:

    • Whopper Vein: 6.55 g/t AuEq (6.45 g/t Au and 4.08 g/t Ag) over 6.69 meters, including 9.48 g/t AuEq (9.34 g/t Au and 5.33 g/t Ag) over 4.61 meters.
    • Surebet Zone: 4.49 g/t AuEq (3.88 g/t Au and 14.44 g/t Ag) over 4.90 meters, including 5.48 g/t AuEq (4.72 g/t Au and 29.92 g/t Ag) over 3.75 meters.
    • Bonanza Shear: 11.66 g/t AuEq (11.13 g/t Au and 17.82 g/t Ag) over 5.97 meters, including 17.48 g/t AuEq (16.71 g/t Au and 26.24 g/t Ag) over 3.97 meters.
  • GD-24-291 intercepted substantial gold mineralization consisting of stacked quartz-sulphide veins and breccia intervals with visible gold, galena, sphalerite and minor chalcopyrite in several intervals corresponding to the Bonanza Shear and the Golden Gate zone that remain open:

    • Bonanza Shear: 6.14 g/t AuEq (6.10 g/t Au and 1.50 g/t Ag) over 5.00 meters, including 16.15 g/t AuEq (16.12 g/t Au and 1.24 g/t Ag) over 1.00 meter.
    • Bonanza Shear: 2.86 g/t AuEq (2.74 g/t Au and 5.37 g/t Ag) over 6.00 meters, including 8.35 g/t AuEq (8.23 g/t Au and 6.34 g/t Ag) over 1 meter.
    • Golden Gate: 6.32 g/t AuEq (6.29 g/t Au and 1.51 g/t Ag) over 6.00 meters, including 9.45 g/t AuEq (9.41 g/t Au and 2.07 g/t Ag) over 4.00 meters.
  • GD-24-263 intercepted 3 stacked gold mineralized zones with quartz-sulphide vein stockwork and breccias with sections of semi-massive to massive sphalerite and galena, as well as visible gold in an interval corresponding to the Bonanza Shear that remain open:

    • New Stacked Gold Vein: 2.06 g/t AuEq (1.92 g/t Au and 4.01 g/t Ag) over 6.17 meters, including 2.43 g/t AuEq (2.27 g/t Au and 4.57 g/t Ag) over 5.13 meters.
    • New Stacked Gold Vein: 2.08 g/t AuEq (1.93 g/t Au and 5.76 g/t Ag) over 10.32 meters, including 2.24 g/t AuEq (2.06 g/t Au and 6.78 g/t Ag) over 5.19 meters.
    • Bonanza Shear: 8.56 g/t AuEq (8.37 g/t Au and 12.71 g/t Ag) over 6.00 meters, including 10.27 g/t AuEq (10.05 g/t Au and 15.25 g/t Ag) over 5.00 meters, including 12.84 g/t AuEq (12.56 g/t Au and 19.02 g/t Ag) over 4.00 meters.
  • GD-24-290 intercepted exceptional intervals of stacked quartz-sulphide gold veining and breccias in 4 mineralized horizons containing pyrrhotite, sphalerite and galena the deepest of which corresponds to the Bonanza Shear that remains open:

    • New Stacked Gold Vein: 7.96 g/t AuEq (7.88 g/t Au and 5.52 g/t Ag) over 4.85 meters, including 13.49 g/t AuEq (13.38 g/t Au and 8.87 g/t Ag) over 2.85 meters.
    • New Stacked Gold Vein: 3.42 g/t AuEq (3.40 g/t Au and 1.44 g/t Ag) over 5.00 meters, including 8.41 g/t AuEq (8.38 g/t Au and 2.88 g/t Ag) over 2.00 meters.
    • New Stacked Gold Vein: 4.50 g/t AuEq (4.49 g/t Au and 0.84 g/t Ag) over 5.15 meters.
    • Bonanza Shear: 4.24 g/t AuEq (4.18 g/t Au and 2.71 g/t Ag) over 4.98 meters.
  • GD-24-241 intercepted an excellent interval of quartz-sulphide veining containing visible gold, sphalerite and galena corresponding to the Bonanza Shear that remains open:

    • Bonanza Shear: 3.00 g/t AuEq (2.72 g/t Au and 7.67 g/t Ag) over 15.00 meters, including 3.65 g/t AuEq (3.27 g/t Au and 10.20 g/t Ag) over 11.00 meters, including 4.22 g/t AuEq (3.83 g/t Au and 11.46 g/t Ag) over 8.00 meters.
Table 1: Highlights for drill holes reported in this news release.

Hole IDZone From (m)To (m)Interval (m)Au (g/t)Ag (g/t)Cu (%)Pb (%)Zn (%)AuEq (g/t)
GD-22-58DykeInterval220.00230.0010.0011.8415.610.000.010.0212.03
Including224.00230.006.0019.6225.610.000.010.0219.91
Including225.00230.005.0023.4730.540.000.010.0223.82
DykeInterval244.00249.005.008.3520.740.000.010.028.59
Including245.00248.003.0013.8734.100.000.010.0214.26
GD-24-241BonanzaInterval554.00569.0015.002.727.670.010.170.493.00
Including558.00569.0011.003.2710.200.020.230.653.65
Including558.00566.008.003.8311.460.020.300.594.22
GD-24-263NEWInterval342.06348.236.171.924.010.010.050.232.06
Including343.10348.235.132.274.570.010.050.282.43
NEWInterval520.25530.5710.321.935.760.010.040.222.08
Including520.25525.445.192.066.780.010.060.272.24
BonanzaInterval634.00640.006.008.3712.710.030.030.058.56
Including635.00640.005.0010.0515.250.030.030.0610.27
Including636.00640.004.0012.5619.020.040.040.0712.84
GD-24-250WhopperInterval287.85294.546.696.454.080.010.040.156.55
Including288.92293.534.619.345.330.010.050.219.48
SurebetInterval440.50445.404.903.8824.440.040.530.604.49
Including440.50444.253.754.7229.920.040.680.755.48
BonanzaInterval598.55604.52()[\]\\.,;:\s@\"]+)*)|(\".+\"))@((\[[0-9]{1,3}\.[0-9]{1,3}\.[0-9]{1,3}\.[0-9]{1,3}\])|(([a-zA-Z\-0-9]+\.)+[a-zA-Z]{2,}))$/;return b.test(a)}$(document).ready(function(){if(performance.navigation.type==2){location.reload(true)}$("iframe[data-lazy-src]").each(function(b){$(this).attr("src",$(this).attr("data-lazy-src"))});if($(".owl-article-body-images").length){$(".owl-article-body-images").owlCarousel({items:1,loop:true,center:false,dots:false,autoPlay:true,mouseDrag:false,touchDrag:false,pullDrag:false,nav:true})}var a=$("#display_full_text").val();if(a==0){$.ajax({url:"/ajax/set-article-cookie",type:"POST",data:{cmsArticleId:$("#cms_article_id").val()},dataType:"json",success:function(b){},error:function(b,d,c){}})}$(".read-full-article").on("click",function(d){d.preventDefault();var b=$(this).attr("data-cmsArticleId");var c=$(this).attr("data-productId");var f=$(this).attr("data-href");dataLayer.push({event:"paywall_click",paywall_name:"the_manila_times_premium",paywall_id:"paywall_article_"+b});$.ajax({url:"/ajax/set-article-cookie",type:"POST",data:{cmsArticleId:b,productId:c},dataType:"json",success:function(e){window.location.href=$("#BASE_URL").val()+f},error:function(e,h,g){}})});$(".article-embedded-newsletter-form .close-btn").on("click",function(){$(".article-embedded-newsletter-form").fadeOut(1000)})});$(document).on("click",".article-embedded-newsletter-form .newsletter-button",function(){var b=$(".article-embedded-newsletter-form .newsletter_email").val();var d=$("#ga_user_id").val();var c=$("#ga_user_yob").val();var a=$("#ga_user_gender").val();var e=$("#ga_user_country").val();if(validateEmail(b)){$.ajax({url:"/ajax/sendynewsletter",type:"POST",data:{email:b},success:function(f){$(".article-embedded-newsletter-form .nf-message").html(f);$(".article-embedded-newsletter-form .nf-message").addClass("show");setTimeout(function(){$(".article-embedded-newsletter-form .nf-message").removeClass("show");$(".article-embedded-newsletter-form .nf-message").html("")},6000);dataLayer.push({event:"newsletter_sub",user_id:d,product_name:"newsletter",gender:a,yob:c,country:e})},error:function(f,h,g){}})}else{$(".article-embedded-newsletter-form .nf-message").html("Please enter a valid email address.");$(".article-embedded-newsletter-form .nf-message").addClass("show");setTimeout(function(){$(".article-embedded-newsletter-form .nf-message").removeClass("show");$(".article-embedded-newsletter-form .nf-message").html("")},6000)}});$(document).on("click",".article-embedded-newsletter-form .nf-message",function(){$(this).removeClass("show");$(this).html("")});
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