Goliath Resources Limited (TSXV:GOT) controls 100% interest in four, highly-prospective properties in the prolific Golden Triangle and surrounding area of British Columbia
SmallCapPower | March 11, 2019: Goliath Resources Limited (TSXV:GOT) is a project generator with a portfolio of four 100% controlled properties in the prolific Golden Triangle and surrounding area of northwestern British Columbia. Covering 44,000 hectares, the four properties – Bingo, Golddigger, Lucky Strike and Copperhead, have returned widespread mineralization of gold, silver and copper from outcropping bedrock at surface due to receding glaciers and permanent snow pack melting. The 2019 core drilling program is planned to commence in July of this year at its Lucky Strike property on the newly-discovered Lorne Creek Au-Cu-Mo Porphyry and Gold Source Zone, a hydrothermal breccia.
Goliath Resources Limited (TSXV:GOT) -$0.06
- Market Cap: $6.3 Million
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*Share price data as at March 6, 2019, data obtained from S&P Capital IQ
Goliath controls 100% interest in four, highly-prospective properties including Bingo, Golddigger, Lucky Strike and Copperhead, covering 44,000 hectares in the prolific Golden Triangle, which hosts some of the world’s richest gold ore bodies. As a result of recent glacial recession and snowpack melting, Goliath’s four properties have returned widespread mineralization of gold, silver, and/or copper from grab and channel samples from exposed bedrock at surface. Although 130Moz gold and 800Moz silver have been found so far in the Golden Triangle, only the tip of the surface has been scratched as shown by BC Geological Survey (BCGS) database identifying ~900 mineral occurrences. This vast potential has lately been driving a renewed interest in the Golden Triangle, with juniors, including Goliath, actively exploring for the next big discovery.
For the first time ever, diamond drilling will commence in July 2019 at its newly-discovered Lorne Creek Au-Cu-Mo Porphyry system, and Gold Source Zone at its Lucky Strike Property. The Lorne Creek Au-Cu-Mo Porphyry is highlighted by a 1200m x 700m alteration system, with a Monzonite Porphyry centre and mineralized stockwork outcropping at surface. It is located at the headwaters of Lorne Creek, the most prolific placer gold producer in the entire district. 13.3k oz of placer gold was historically reported, and its hard rock source has yet to be discovered. GOT believes its large, newly-discovered Au-Cu-Mo porphyry at Lorne Creek to be the source of this placer gold.
The Gold Source Zone is 1500m x 200m metre area, which is located in the southeastern portion of the Lucky Strike property. It is situated in the Quock Formation and Hazelton Volcanics (Eskay Creek style of rocks), with milky quartz epithermal at surface. The hydrothermal breccia samples assayed 96.8 g/t Au (3.1 oz/t), and 22.3 g/t Au, 261 g/t Ag, 0.35% Cu, 0.15% Zn and 0.13% Pb over a 2m chip sample.
At the Golddigger property, GOT recently discovered Goldswarm, a 450m x 150 m zone located within two km from the famous RedLine (unconformity between Lower Hazelton and Stuhinirocks), which hosts the majority of deposits within the Golden Triangle. GOT plans further exploration in 2019 to expand data sets that will help in identifying potential drill targets planned for 2020.
Cashed up for the 2019 drilling program. Goliath has recently raised a total of $1.7 million ($1.0M in Dec. 18 and $0.7M in Nov. 18) in private placements to fund the 2019 drilling programs at Lucky Strike and Copperhead. The offerings consisted primarily of flow-through units and non-flow-through units at $0.10 per unit, with both units comprised of one common share and one half share purchase warrant at $0.20 for two years.
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