TORONTO, July 05, 2018 (GLOBE NEWSWIRE) -- Goliath Resources Limited (TSX-V: GOT) (Frankfurt: B4IE) (the "Company" or "Goliath") is pleased to announce the initiation of its surface exploration programs on both its Copperhead and Lucky Strike properties in preparation for their inaugural drilling programs.
On the Lucky Strike property, the program has been designed to test the multiple zones of gold in bedrock and polymetallic quartz vein mineralization that were defined during the successful 2017 field program.
The 2018 program will include detailed geological mapping, trenching, whole rock and alteration studies, soil sampling, prospecting, channel sampling, and diamond drilling. In preparation for drilling, the Company will also conduct a detailed IP (induced polarization) geophysical program designed to identify disseminated sulphides in the subsurface that are believed to be associated with a gold-copper-molybdenum porphyry system. A SkyTEM electromagnetic survey found concentric conductive zones flanking a magnetic high extending over 2500 x 1500 x 500 metres that remains open to depth within the Prosperity Bullseye Zone (see February 26th 2018 Press Release).
In preparation for the inaugural drilling program at the Copperhead property, a similar surface exploration program is planned on the Copper King Trend. The program has been designed to outline the full extent of a breccia zone containing anomalous copper-silver mineralization (see January 15th 2018 Press Release). The Copper King Trend, defined by mineralized grab samples, measures 350 metres wide by 2000 metres long and remains open in all directions. Grab sample are selective in nature and not intended to be representative of the material sample. This extensive breccia system is believed to be associated with a large north-south trending structure.
Both properties are located in world class geological settings with excellent potential to host large deposits. Results from the program will be released once assays have been received, compiled, and interpreted.
Mr. Roger Rosmus, Director, President and CEO of Goliath states: “The BOD, management and the entire exploration team have been extremely eager to getting boots on the ground in preparation for the highly anticipated drilling of our two new discoveries located at the Lucky Strike and Copperhead properties during this exploration season. We are very confident that this year’s drilling success will have a positive and material impact on our market cap.”
Stefan Kruse, Ph.D., P. Geo., Chief Geologist, is the qualified person as defined by National Instrument 43- 101, for Goliath exploration projects, and supervised the preparation of, and has reviewed and approved, the technical information in this release.
For more information please contact:
Goliath Resources Limited
Mr. Roger Rosmus
President and Chief Executive Officer
Tel: +1-416-488-2887 x222
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