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Feature article August 1, 2020:


Goliath Resources Highly Prospective for Major Discovery in Golden Triangle (BC) & in Abitibi Greenstone Belt (Quebec)


"With a low outstanding share count, exceptionally prospective projects, and a solid exploration program on tap for 2020, the share price of GOT.V appears to be a coiled spring."

  • Highly skilled technical team and management , in mining-friendly jurisdictions.

Goliath Resources Limited

(TSX-V: GOT) (Frankfurt: B4IE) (OTCQB: GOTRF)


Share data, Capitalization, & Corporate info


 Shares Outstanding:  ~16.9 million

 Recently Traded: ~CDN$0.28/share (TSX-V: GOT)

 Current Market Capitalization: ~$4.73 million Canadian

 Corporate Website: www.GoliathResourcesLtd.com

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Valuation Commentary: Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (Frankfurt: B4IE) is a precious metals project generator that offers one of the best opportunities for extraordinary gains in the resource sector at the moment as it focuses its 2020 exploration efforts on two prolific fronts;


1) Abitibi Greenstone Belt of Quebec; the newly acquired Nelligan East and Nelligan West Gold Projects (click here to see related news release) is highly prospective for major discovery. The Quebec team is designing a programme to assist in delineating drill targets for winter 2020/2021 at Lake Doda property. It is near the Monster Lake deposit (1.11Mt @ 12.14 g/t Au; 434k oz), Nelligan deposit (4.4Mt @ 8.26 g/t Au; 1.17M oz produced 1956-2007).


2) Golden Triangle in British Columbia; Goliath is advancing the recently discovered 'Sure-Bet' Zone on its Golddigger property this 2020. The Golddigger property sits within the red-line corridor which hosts several world class deposits. Golddigger sits next door to Auryn's Homestake Ridge deposit (5.6Mt @ 5.7 g/t Au; 982k oz). This zone was previously under glaciers that only recently retreated exposing exceptional mineralization at surface. The program will primarily be a series of channel cuts up to 40 m wide and spaced out accordingly along multiple outcropping NW-SE trending structures that are over 1,500 m in length. The initial discovery structure has 800 m of vertical relief outcropping up one side of the mountain as well as running down the other side for 800 m and up to 40 m wide. A number of highly mineralized 1 to 2 metre chip samples as well as a 8.4 metre channel cut were taken in 2019. The 8.4 metre channel cut assayed 5.37 g/t Au, 114.8 g/t Ag, 0.01% Cu, 0.28 % Zn and 1.10% Pb; true width & remains open (see related new discovery news release – Click Here). The following video [3 min. 55 sec.] gives an overview of the opportunity...




The Golddigger programme has been designed to test the extent of mineralization within these structures consisting of massive sulphides as well as the mineralized surrounding wall rock consisting of Hazelton sediments. These results will assist in delineating drill targets for 2021.


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Goliath's Business Model


The Company's business model is looking for new elephant-size projects that will tick all the boxes for senior mining companies to do a strategic investment, JV, and/or a potential take-out. Goliath is essentially a 'project generator', it has no intention of taking anything into production. Goliath will take its projects as far up the value curve as it can, and at some point hand it off to the mining engineers and its job is done. 'Probability of success' is what Goliath is looking for.


Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (Frankfurt: B4IE) has a recently revised share structure, currently with only ~16.9M shares outstanding, and is in the process of raising capital to complete on its 2020 exploration efforts. See related July 16, 2020 news release "Goliath Announces Financing and Strategic Investment from a Syndicate Led by Palisades Goldcorp" & July 27, 2020 news "Goliath Upsizes Financing to $2,166,000"; in-short Goliath is working on $916,000 Quebec flow through completed and no raising hard dollars, and is raising up to $1,250,000 of hard dollars at $0.20 per unit by way of a non-brokered private placement. Each unit will be consist of one common share plus one 5 year full warrant at $0.25 with no accelerator. The deal is paying 6% cash and 6% broker unit exercisable at $0.20 (one share, plus one full five year warrant @ $0.25).


Quality people are behind the management, governance, and technical guidance


We urge readers to view the CV's of key people at the bottom of this article, it is an impressive assemblage of talent. E.g.; Goliath's Senior Exploration and Corporate Development Consultant, Bill Chornobay, has seen a lot of press. He was lead on the team that discovered the Golden Mile in Ontario, which eventually got taken out by Argonaught for $327 million. He originally discovered the Coffee Creek asset up in the Yukon, the Supremo Zone, which was ultimately bought out by Goldcorp for $520 million. A couple years ago he did a $53 million JV with Newmont Mining on his brand new discovery that he generated in the Yukon. He has a proven track record with well over $1 billion in value by following this model that zeros-in on the big and obvious, that tick the boxes for majors, and intends on replicating success for Goliath Resources.


Below is additional insight on Goliaths projects.


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Nelligan East and Nelligan West Gold Projects, Abitibi Greenstone Belt, Quebec - Canada


Excerpt copy of July 16, 2020 news release regarding acquisition:


Goliath to Acquire Key Mineral Claim Blocks in the Chibougamau-Chapais Region of Quebec’s Prolific Abitibi Greenstone Belt

TORONTO, July 09, 2020 (GLOBE NEWSWIRE) -- Goliath Resources Ltd. (TSX-V: GOT.V) (OTCQB: GOTRF) (Frankfurt: B4IE) (the “Company or “Goliath”) is pleased to announce the signing of agreements to acquire six (6) significant mineral claim blocks (the “Claims”) totalling 391 mineral claims for 340km2, now under Goliath’s Nelligan East Project and Nelligan West Project (the “Nelligan Projects” or the “Projects”). The Projects are located in the northeastern Chibougamau-Chapais Mining Camp (the “Camp”) of the Abitibi Greenstone Belt (the “AGB”). The Region is known for its historic gold and copper production, and has recently seen an increase in mineral exploration following the discovery of new gold mineralization, such as IAMGOLD/TomaGold with the Monster Lake (1.11 million tonnes grading 12.14 g/t gold for 433,000 ounces of gold; IAMGOLD, 2018) and IAMGOLD/Vanstar with the Nelligan gold deposits . The proposed acquisitions are subject to final TSXV approval.

The Nelligan Projects – the Geology and Exploration Model

The Nelligan Projects (Figures 1 and 2 – Click Here) are located in two strategic areas of the Region in proximity to past producing mines, and historic and current gold and/or gold-copper occurrences and mineral resources.


Mineral exploration assessment reports and statistics indicate a total gold production of 200 million ounces of gold from the 80,000 km2 in the AGB of Quebec and Ontario. Most of the gold occurs within quartz veins or “Lode Gold Deposits” in several major mining camps since the early 1900s, including the Camp. The Canadian-Malartic and Detour Lake Superpits are examples of bulk mineable lower-grade gold deposits currently being mined from the AGB.

Goliath’s acquisitions focussed on and along two historic gold trends in the Camp: the Joe Mann and the Nelligan trends.

The western boundary Nelligan East Project is located 8km east of the Joe Mann Mine. The Joe Mann Mine operated from 1956 to 2007. A total of 4.4 million tonnes of ore was extracted from the underground operation grading 8.26 g/t gold for 1.17 million ounces of gold, 5 g/t silver for 607,000 ounces of silver, and 0.25% copper for 28.7 million pounds of copper (Doré Copper Mining, 2020).   

The Nelligan West Project is located at the western end of the Nelligan trend, some 30km from the Nelligan Gold Deposit. The Nelligan Deposit hosts Inferred Mineral Resources of 97.0 million tonnes grading 1.02 g/t Au (for 3.2 million ounces of gold) (IAMGOLD, 2019).

The Camp hosts east-west trending mafic volcanics or basalts, felsic volcanics or pyroclastics and volcaniclastics, sedimentary rocks and major intrusive complexes, all intruded by gabbro sills and dykes. The sedimentary rocks and gabbros hosts the Nelligan-style of mineralization – one of the potential targets on the Projects. Major faults intersect all rock types and consists of four (4) groups based on their direction: east-west, southeast, northeast and north-northeast trending faults. The east-west trending Guercheville Fault or Deformation Zone, along with its subsidiary faults, cut the Nelligan Projects. The Guercheville is similar to the Larder-Cadillac and Destor-Porcupine Deformation Zone where most of the gold mineralization occurs in the southern portion of the Abitibi Greenstone Belt. It reaches up to 1 km wide and is characterized by shearing and carbonate-sericite-rich alteration.

At the Nelligan Gold Deposit, gold occurs in a series of subparallel alteration zones, up to 200m wide consisting of silica, iron carbonate, potassium and sodium feldspars, iron oxide as hematite, and up to 30% pyrite as disseminations and semi-massive lenses with minor chalcopyrite. Visible gold is rare and it is found in association with quartz-carbonate veinlets or between pyrite grains. The gold mineralization at the Joe Mann Mine is hosted in sulphide bearing quartz veins and has been mined to a vertical depth of -1,200m along a 2km strike length – the second potential target on the Projects.

Exploration work by Goliath will focus on disseminated and vein style of mineralization for both 1 to 1.5 g/t gold in a bulk mineable scenario, and 5 to 15 g/t gold in a more selective underground mineable scenario.

Please note that the above referenced gold mineralization hosted on nearby projects is not necessarily indicative of the mineralization hosted on the Claims.

Mr. Roger Rosmus, Director, President and CEO of Goliath states: We are very pleased to be taking a land position in the prolific Abitibi Greenstone Belt of Quebec in addition to our current British Columbia properties. This diversity should help to build value for our shareholders as these assets are developed, as well as provide year round news flow as drilling is generally conducted in the winter months.

The Claims statistics from each of the Project’s acquired blocks are summarized in Table 1 below.

Table 1. Nelligan East and West Projects – Claim Statistics.
ROHAULT LAKE (GRIESBACH)     25 1399.55  
    SUB-TOTAL 175 9795.54 218.9
POUGNET LAKE (DALLAIRE)     11 616.15  
    SUB-TOTAL 216 12098.81 121.0
    TOTAL 391 21894.35 339.9

The mineral claims were acquired via five (5) transactions outlined in Table 2 below.

Table 2. Nelligan East and West Projects – Acquisition Terms.

GOLD CROSS/GRENVILLE GOLD (CLAIM SYNDICATE) 247 100% 400,000 400,000 $0.24/5 41,780 2 1%/$1,000K N/A
JAMES LAKE (URBANGOLD MINERALS) 28 100% 200,000 N/A N/A 75,000 1 0.5%/$500K $500K cash payment by disclosing MREs
Minimum 250K gold equivalent ounces
ROHAULT LAKE (G. GRIESBACH) 25 100% 350,000 N/A N/A 40,000 2 1%/$1,000K N/A
POUGNET LAKE (M.-A. DALLAIRE) 11 100% 100,000 N/A N/A N/A 2 1%/$500K N/A
DODA LAKE (TOMAGOLD CORPORATION) 80 65% 625,000 625,000 $0.24/3 50,000 1.2 0.6%/$2,000K Acquire 80% by disclosing MREs by
July 17, 2025

2020 Exploration Program

Goliath expects to start its Stage 1 program in Q3-2020 and will include a digital compilation and synthesis of all the historic work on the Nelligan Projects, field reconnaissance work and prospecting, including rock sampling.  A Stage 2 program could be carried out as early as Q4-2020 on any new gold targets generated, and may include airborne and/or ground geophysical surveys and diamond drilling.

Qualified Person

Mr. Yvan Bussières, P. Eng., Goliath’s Quebec-based mineral exploration consultant reviewed and approved the technical information in this news release. Mr. Bussières is a Qualified Person as defined by National Instrument (“NI”) 43-101 regulations.

For more information please contact

Goliath Resources Limited
Mr. Roger Rosmus
President and Chief Executive Officer
Tel: +1-416-488-2887 x222

...click here to see full copy from source


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The Golden Triangle, British Columbia, Canada



Figure 3 (above) -- Location Map of Goliath Resources Limited's 4 projects in prolific mining-friendly region -- Glaciers have melted (due to climate change) and the permanent snow pack is melting, revealing exceptionally highly-mineralized ground. GOT.V has an option to acquire 100% on 4 properties covering 44,003 hectares. In fact, Seabridge, which is in the Golden Triangle, credits climate change for uncovering Canada's biggest gold deposit.


Two of Goliaths' four properties, Golddigger and Bingo, are located in the southern tip of the prolific Golden Triangle near Stewart. The other two, Lucky Strike and Copperhead, are just to the south.  Goliath is to the south, outside the triangle down near Terrace, where no one has spent a lot of time -- most of mining industry's focus has been in the triangle where the excitement and money flowed from the old Murray Pezim/Eskay Creek gold rush days. The Lucky Strike and Copperhead properties are located within the Skeena Arch, a world class geological setting, with a belt-scale structural corridor associated with significant porphyry and related mineralization.


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Golddigger Property


Figure 4 (above) Golddigger Propoerty Location Map.


The eastern side of the Golddigger property is underlain by inter-fingered bimodal volcanic rocks similar to the Iskut River Formation. The Iskut River Formation of the Hazleton Volcanic Group hosts the high-grade Eskay Creek deposit.

This world class geologic setting has excellent discovery potential due to its location within Hazelton Group rocks that have the same stratigraphic unit that hosts Auryn Resources Inc’s Homestake Ridge deposit and Pretium Resources Inc.’s Brucejack deposit. The property is also situated within two kilometres of the unconformity between Lower Hazelton and Stuhini rocks, also known as the “Red Line” boundary where the vast majority of major deposits have been found within the Golden Triangle.

The new discovery in 2019 of the Sure Bet Zone is 1550 metres by 1130 metres within a larger mineralized zone covering 4sqkm in area. It is next door to Auryn’s Homestake Ridge high-grade Au & Ag deposit of ~1.2M oz AuEq @ 7.41 g/t AuEq and only 7km west of the Dolly Varden Mine access road that leads to Alice Arm, BC. The exploration plan for 2020 will consist of extensive channel cutting, sampling and mapping in preparation for an inaugural drill program in 2021.

Mineralization consists of structurally controlled massive sulphides containing Galena, Sphalerite and Pyrite within NW-SE trending in several fault structures that are up to 40 metres wide.


2019 exploration results regarding the Golddigger property: See October 22, 2019 news release "Newly Discovered Large High-Grade Polymetallic Gold Zone in the Golden Triangle, B.C. - Goliath Cuts 8.4 Meters of 7.37 g/t AuEq and Remains Open"


Figure 5 (above) claims/area map Golddigger Property.


Figure 6 (above) Golddigger Property NW-SE trending structures and alteration halo - discovery outcrop.


Figure 7 (above) Golddigger Sure-Bet zone.


This article primarily looks at Goliath's 2020 exploration focus. Please visit Goliath's corporate website for expanded insight and an overview of all of the Company's assets.


     Content found herein is not investment advice see Terms of Use, Disclosure & Disclaimer



Recent news releases regarding Company accomplishments and operational developments:


• July 27, 2020 -- Goliath Upsizes Financing to $2,166,000

• July 24, 2020 -- Goliath Increases Size of Financing Up to $1,500,000

• July 16, 2020 -- Goliath Announces Financing and Strategic Investment From a Syndicate Led by Palisades Goldcorp

• July 9, 2020 -- Goliath to Acquire Key Mineral Claim Blocks in the Chibougamau-Chapais Region of Quebec’s Prolific Abitibi Greenstone Belt


• April 29, 2020 -- Goliath Announces Amended Property Agreements Completed



Goliath Resources Limited's Technical Leadership, Management, and Governance  Skip to top

The current management team and board of directors has a well rounded combination of people that each contribute expertise in disciplines necessary for a successful mining entity:


Roger Rosmus, MBA, – Founder, CEO & Director

Mr. Rosmus is the President and co-founder of Aberdeen Gould Advisory Services Ltd. It provides corporate advice encompassing strategic and operational strategies to private and public companies in multiple sectors. He has over 25 years of investment banking experience in the public and private sectors, acted as lead on many mergers, acquisitions and corporate financings. Previously, he was President and co-founder of an independent investment bank Aberdeen Gould Capital Markets Ltd., a Toronto based Exempt Market Dealer. Mr. Rosmus was also President and founder of Aberdeen Gould Inc., where he successfully completed over 30 M&A transactions. He has also owned and operated several businesses in a wide variety of industries. Mr. Rosmus holds an MBA from The University of Western Ontario – Richard Ivey School of Business.


Graham C. Warren, CPA, CMA, – Chief Financial Officer, Corporate Secretary; Director

Mr. Warren is a Senior Financial Executive with over 30 years of experience in the mining, oil and gas, environmental, biotech, service and tech sectors both domestically and internationally. He has been involved in numerous financings and M&A transactions for both private and public companies and has guided several companies through the going public process. Mr. Warren has served as CFO and/or Director of numerous public companies and is currently the CFO of Pangolin Diamonds Corp. and a reporting issuer Arehada Mining Limited. He is a past director of Changfeng Energy Inc., Cordoba Minerals Corp., Exile Resources Inc., Active Control Technology and Hanfeng Evergreen Inc. Mr. Warren has had extensive involvement in all facets of organizations including finance, human resources, sales, marketing and operations and has guided boards in their corporate governance obligations.


Wayne Isaacs, – Director (Independent)

Mr. Isaacs has a 30 year career on Bay Street specializing in the resource sector both as a corporate executive of resource companies and as an investment banker. This extensive experience has allowed him to successfully seek out and engage and acquire significant resource assets and financing to support exploration, development and mining activities for his operating and investee companies. Mr. Isaacs has been involved as principal in 30 listed companies and has served as a director and / or senior officer of over 35 listed companies. He was the President and Director of Forsys Metals Corp. from 2003 to 2007, a TSX listed company with uranium properties in Namibia, Africa which he managed from start up to in excess of $750 million in market capitalization raising over $70 million to advanced its uranium property from the exploration stage to the production decision stage. Mr. Isaacs is currently a Director of AM Resources Corp. (TSX.V: AMR), a mining company engaged in the exploration of coal, hydrocarbons and gold mining sites located in Colombia. He is a graduate of the University of Western Ontario and has held numerous securities certifications and licenses.


Michael A. Dehn, B.Sc, – Consulting Geologist and Director

Mr. Dehn has over 25 years of experience in the mining industry. Between 1994 and 2005, he worked as an exploration geologist and later as a Senior Geologist with Goldcorp Inc. Michael has been a director of publicly traded and private junior mining companies, with listings on the North American and European stock exchanges. His expertise lies in grassroots to advanced minerals exploration, marketing and financing junior companies.


Stefan Kruse, Ph.D., P. Geo – Structural Geologist, – Chief Consulting Geologist

Dr. Kruse is a structural geologist specializing in structural controls on mineralization, from prospect to belt scale. His PhD dissertation focused on polyphase deformation and tectonic evolution in the Canadian Cordillera. Based on this work he was awarded the Governor General’s Academic Gold Medal award and GAC Structure and Tectonics division Best PhD award. Additionally, Dr. Kruse is a former lecturer and current Honorary Research Associate at the University of New Brunswick. Dr. Kruse is a registered professional geologist with the Association of Professional Engineers and Geoscientists of New Brunswick (APEGNB) and the Professional Engineers and Geoscientists of Newfoundland and Labrador (PEGNL).


Mr. Bill Chornobay, – Senior Exploration and Corporate Development Consultant

Mr. Chornobay a business man with over 30 years experience in negotiations, identifying and acquiring undervalued assets, corporate finance, corporate development, team building, and managing exploration programs in the Americas. He has held Board and Senior Management positions, and has been instrumental in raising over $150 million dollars in the resource sector. Mr. Chornobay is a leader , team and company builder who has provided the overall corporate vision and building blocks that are required to grow successful companies. He has extensive experience in project generation, acquisition, and management of several successful exploration programs resulting in discovery.

Mr. Chornobay is a firm believer in the untapped resource potential of Canada and his practical approach , team spirit, vision and project management have a long proven track record of success. A Project Generators 30 Year History 1987 to 2017 [click to view PDF].


Rein Turna, P.Geo., – Consulting Geologist & QP

Mr. Rein Turna is a consulting geologist with over 40 years experience in mineral exploration in Canada focused on British Columbia, Ontario, Saskatchewan, Yukon and Northwest Territories. He is a registered professional geologist with the Association of Professional Engineers and Geoscientists of British Columbia since 1993. Mr. Turna has held staff and consulting positions with major and medium mining companies including Placer Dome Inc., Falconbridge Ltd., UMEX Inc., Lac Minerals Ltd. and Osisko Hammond Reef Gold Ltd. He has managed exploration programs for porphyry, volcanogenic massive sulphide, epithermal and other deposit types. Researched and worked on Archean orogenic gold and sedex prospects. Mr. Turna has extensive experience in property assessment as well as supervision of drill projects.


Leon Daniels, Ph.D, BSc., BSc. Honours Geology, – Consulting Geologist

Dr. Leon Daniels has extensive exploration and production experience that spans over 35 years. He is the published author of numerous research papers relating to diamonds and associated minerals, and the exploration and development of kimberlites in various areas. Dr. Daniels worked for Falconbridge Exploration, Botswana, evaluating the 180 ha crater facies M1 kimberlite. He also discovered the DK4 kimberlite (the only kimberlite in the Orapa kimberlite field not discovered by De Beers, and more recently co- founded African Diamonds Plc (AIM: AFD), which was subsequently acquired by Lucara Diamond Corp. (TSX: LUC), a Lundin Group of companies in 2010, for $100,000,000. Dr. Leon Daniels is a member of the Australian Institute of Geoscientists.



Note: This article is not intended to be a complete overview of Goliath Resources Limited or a complete listing of Goliath Resources' projects. Mining MarketWatch urges the reader to contact the subject company and has identified the following sources for information:


For more information contact Goliath Resources Limited's head office at: Ph (416) 488.2887 ext.222


Company's web site: www.goliathresourcesltd.com   SEDAR Filings: URL



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*Content found herein is not investment advice see Terms of Use, Disclosure & Disclaimer. This is a journalistic article and the author is not a registered securities advisor, and opinions expressed should not be considered as investment advice to buy or sell securities, but rather journalistic opinion only. Technical mining terms used by the writer may be used/expressed in simplified layman terms and should not be relied upon as appropriate for making investment decisions unless the reader contacts the company directly for independent verification. *Estimates of potential made by the mining analyst and journal(s) are non 43-101 and not from the Company.




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