TORONTO, Jan. 06, 2021 (GLOBE NEWSWIRE) — Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (Frankfurt: B4IF) (the “Company” or “Goliath”) is pleased to announce the extensive expansion of its claim holdings by 28% based on significant results that cover additional key geologic terrane around its Surebet high-grade polymetallic gold-silver discovery on its 100% controlled Golddigger property in the Golden Triangle, British Columbia.

In addition, the Company has adopted a shareholder rights plan (the “Rights Plan”). The purpose of the Rights Plan is to provide protection for the shareholders and Board of Directors with adequate time to consider and evaluate any unsolicited bid and to provide the Board of Directors with adequate time to identify, develop and negotiate value-enhancing alternatives, if considered appropriate, to any such unsolicited bid.

Mr. Roger Rosmus, CEO of Goliath states: “The Surebet discovery and results to date have far exceeded our expectations that has an excellent potential to rapidly evolve into a higher grade gold-silver mineralized system in the Golden Triangle. The interest from majors and institutional investors alike is a strong testament of the mineralization to date on the project in a low political risk and geopolitically stable jurisdiction of British Columbia, Canada. The Company looks forward to carrying out its fully funded 2021 inaugural drill program with great anticipation.”

Golddigger Property

The Golddigger property has been expanded by 28% from 18,587.0 hectares (46,467 acres) to 23,858.51 hectares (59,646 acres) based on significant results that cover additional key geologic terrane around the Surebet Zone in a world class geological setting. Golddigger is located on tide water 30 kilometers south east of Stewart BC in the Golden Triangle and only 7km West of the Dolly Varden Mine access road providing for cost effective exploration (Link to Claim Map).

The newly discovered Surebet Zone is located ~8 kilometers S.W. of Fury Gold Mines’ Homestake Ridge property, a high-grade gold-silver resource estimate (M&I) that contains 982,700 oz of gold @ 4.99 g/t gold and 19,600,000 oz of silver @ 97.7 g/t silver, with drill intercepts of up to 73 meters of 21 g/t gold and 12 g/t silver (source – Auryn Resources’ PEA & Website) (Link to Regional Map).

Multiple high-grade polymetallic gold-silver targets have been identified along 1 kilometer (1000 meters) of strike at surface and a half a kilometer (500 meters) of vertical relief with an average true width of 9.33 meters assaying 10.66 gpt gold equivalent (AuEq) and 7.58 grams per tonne gold (gpt Au) with 1 kilometer (1000 meters) of inferred down dip extent (Link to 3D Video).

The Surebet targets are contained within a shear zone and planned to be drill tested in the inaugural 2021 drill program. The high-grade polymetallic gold-silver mineralization is contained within a broad alteration halo of strongly silicified Hazelton Group sediments up to 43.5 meters wide containing mineralization assaying less than 0.5 gpt AuEq (Link to news November 25, 2020).

The Surebet Zone is characterized by a series of NW-SE trending structures that occur within a package of Hazelton group sediments underlain by Hazelton volcanics and are within 2km of the Red Line. Lidar imagery, drone imagery, and field observations have identified several additional paralleling structures within a 4 square km area. Geochemical analyses have confirmed high-grade gold-silver polymetallic mineralization within these structures (Link to Lidar Video).

CLICK HERE to read the full news release.

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