TORONTO, Feb. 26, 2018 (GLOBE NEWSWIRE) -- Goliath Resources Limited (TSX-V:GOT). The Goldstandard Property is 100% owned by the DSM Syndicate a private precious metal project generator in British Columbia that has staked a total of six properties to date of which Goliath Resources Ltd., owns a 10% interest, including the Goldstandard property.
Highlights Include:
- New bedrock discovery with no previous work recorded in the area.
- Discovery of the Big Show Zone: a large en echelon quartz vein system that has been traced over 1000 by 350 metres in bedrock and remains open in all directions.
- Situated within the regional Pootlass High Strain Zone, a corridor of brittle and ductile deformation, approximately 2 km wide and up to 30 km long.
- The Goldstandard property remains largely unexplored providing for excellent additional discovery potential.
- Quartz veins assayed up to 1.57 grams per tonne gold in grab samples and 0.53 grams per tonne gold from a two-metre chip sample (link to image).
- Widespread, unexplored newly exposed outcrop do to glacial and snow pack abatement provides for strong discovery potential.
- Geological mapping, prospecting, channel sampling, and an alteration study is recommended to outline the full extent of the Big Show Zone and to delineate drill targets.
The Goldstandard Property is situated approximately five kilometers north of Bella Coola, BC (link to map). The property covers 690 hectares with close access to infrastructure. The Goldstandard property was generated and prospected as part of a reconnaissance exploration program and was staked based on positive results that yielded up to 1.57 grams per tonne gold in grab samples. This included the original discovery of the Big Show zone where multiple sheeted, oxidized, sulphide-bearing quartz veins were discovered over a 1000 by 350 metres zone. Individual vein widths reach up to three meters (link to image), are oxidized with local disseminations of pyrite, and in places traceable in outcrop for up to thirty meters along strike. Of the veins sample within the Big Show Zone thus far, two contained gold mineralization.
Within the Big Show Zone veins occur in brittle-ductile shears and faults (link to image) forming discontinuous sheeted vein sets that produced values up to 1.565 grams per tonne from a bedrock grab sample. Fifty meters away, a two metre chip samples assayed 0.529 grams per tonne gold. Five other samples collected on the property did not contain any significant mineralization. Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are not intended to be representative of the material sampled.
The eastern margin of the Goldstandard Property is characterized by strongly foliated and folded, sheeted layers of granodiorite, alternating with foliation-parallel and folded, sheeted mafic layers. The southern extent is dominated by laminated and strongly folded and sheared metasedimentary rocks, with local intrusions of deformed plutonic rocks, most of which are deformed granodiorite and diorite. The plutonic rocks on the Property are interpreted to be a part of the Cretaceous Desire plutonic suite. Veins are hosted in altered granite and mafic volcanics with shearing most prevalent in the meta-sedimentary horizons.
Goldstandard is situated in the Pootlass High Strain Zone, a corridor of brittle and ductile deformation, approximately two kilometres wide and up to thirty kilometres long, that is proximal to the boundary between the Intermontane and Insular superterranes, which is demarked by the Coast Shear Zone. This structural corridor is characterized on the property by several prominent topographical lineaments that trend northwest. In the Big Show Zone, veins form en echelon to two encompassing topographical lineaments and maybe part of a larger scale Riedel shear system. Prolonged faulting and shearing focused within this structural corridor, that transects the Goldstandard Property, provided extensive conduits for mineralizing fluids and favourable sites for mineralization.
Based on positive results from brief first pass exploration on the Goldstandard property a follow-up exploration program consisting of comprehensive prospecting, preliminary mapping, and systematic reconnaissance geochemical sampling is recommended to fully evaluate the gold potential at the Goldstandard property. The property is in an alpine area with abundant exposure and is located only five kilometres from Bella Coola, BC which allows for cost effective exploration.
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Dr. Stefan Kruse. P.Geo., Chief Consulting Geologist stated:
“The geological setting and favourable structural trends of the Goldstandard property are extremely prospective. We look forward to the results of an extensive follow-up program in 2018.”
Other
The DSM syndicate is a project generator focused on original discovery resulting from glacial and snowpack recession. The properties will be made available to qualified parties. For further information including photos and maps, interested parties may visit www.DSMSyndicate.ca or contact Dan Stuart, by e-mail (danstuart@marketonefinancial.com) or by phone at +1-778-233- 0293.
Goliath Resources Limited (TSX-V: GOT) owns a 10% interest, and Juggernaut Exploration Ltd. (TSX-V:JUGR) owns a 20% interest in the DSM Syndicate (www.dsmsyndicate.ca).
Dr. Stefan Kruse, PhD, P.Geo, chief consulting geologist, is the qualified person as defined by National Instrument 43-101 and supervised the preparation of, and has reviewed and approved, the technical information in this release.
All rock, channel and talus fine samples were crushed and pulverized at ALS Canada Ltd.'s lab in Vancouver, BC. ALS is either Certified to ISO 9001:2008 or Accredited to ISO 17025:2005 in all of its locations. The resulting sample pulps were analyzed for gold by fire assay in Reno, Nevada or in Vancouver, BC. The pulps were also assayed using multi-element aqua regia digestion at ALS Canada Ltd.'s lab in Vancouver, BC. The coarse reject portions of the rock samples, as well as the pulps, were shipped to DSM Syndicate's storage facility in Terrace, BC. All samples were analyzed using ALS Canada Ltd.'s assay procedure ME-ICP41, a 1:1:1 aqua regia digestion with inductively-coupled plasma atomic emission spectrometry (ICP-AES) or inductively-coupled plasma mass spectrometry (ICP-MS) finish for 35 elements as well as the Au-AA24 leadcollection fire assay fusion procedure with atomic absorption spectroscopy (AAS) finish. Any results greater than 100 ppm for silver or 10,000 ppm copper, lead and zinc were additionally assayed using ALS's OG46 method particular to each element. This method used an HNO3-HCl digestion followed by ICP-AES (or titrimetric and gravimetric analysis). Gold values of greater than 10 ppm Au were assayed by the Au-GRA22 method which includes a fire-assay fusion procedure with a gravimetric finish. Due to the reconnaissance nature of 2017 program, no independent blanks, standards or duplicates were inserted into the sample stream.
The reader is cautioned that grab samples are spot samples which are typically, but not exclusively, constrained to mineralization. Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are not intended to be representative of the material sampled.
Further information regarding Goliath Resources Limited can be found at https://goliathresourcesltd.com/
Contact Information:
Roger Rosmus
Chief Executive Officer
roger@goliathresources.com
+1-416-488-2887 x222
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