Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE:
B4IF) (the
“Company” or
“Goliath”) is pleased to report it has received a
lead order from its strategic investor, Crescat Capital LLC, the
Company’s single largest shareholder. Goliath intends to raise up
to $3,000,000 through a non-brokered private placement.
Based on exceptional assay results and the
abundance of visible gold in a majority of the holes drilled thus
far, the Company will be expanding the drill program at the Surebet
Discovery.
100% of the first 8 holes drilled to date during
the 2024 drill season have intercepted continuous strong
mineralization in the targeted veins. Including mineralization that
suggests the drilling has tapped into the heat engine source of the
gold mineralizing system at the Surebet Discovery. Abundant visible
gold up to 1.30 mm in size has been identified in multiple
intervals in 6 out of the first 8 holes of 2024, corresponding to
75% of the holes drilled thus far. A majority of the gold seen is
hosted further downhole within the volcanics above the valley
floor, and gold mineralization remains open in all directions for
further new discoveries.
Goliath’s largest shareholder, Crescat Capital,
who currently owns ~18% (P/D) of the issued and outstanding common
shares of the Company, will be participating in this placement
pursuant to a pre-emptive right granted to them by the Goliath.
Goliath intends to raise up to $3,000,000
through a non-brokered private placement in a combination of: (i)
Non-Flow-Through shares (NFT) to be sold at a price of $1.11 each
and Flow-Through shares (FT) to be sold at a price of $1.28 that
will qualify as a flow-through share within the meaning of
Subsection 66(15) of the Income Tax Act (Canada).
The Company intends to use the proceeds for
general operating expenses and exploration related programs on its
properties located in and around the Golden Triangle of
northwestern British Columbia.
The proceeds from the FT offering will be used
for Canadian exploration expenses as such term is defined in
paragraph (f) of the definition of Canadian exploration expense in
Subsection 66.1(6) of the tax act, flow-through mining expenditures
as defined in Subsection 127(9) of the tax act that will qualify as
flow-through mining expenditures, and B.C. flow-through mining
expenditures as defined in Subsection 4.721(1) of the Income Tax
Act (British Columbia), which will be incurred on or before Dec.
31, 2025, and renounced with an effective date no later than Dec.
31, 2024. British Columbia Super Flow - the B.C. mining
flow-through share (B.C. MFTS) tax credit allows BC Residents who
invest in flow-through shares to claim a provincial non-refundable
tax credit of 20% of their B.C. flow-through mining expenditures.
B.C. flow-through mining expenditures are specific exploration
expenses incurred by a PBC and renounced by a corporation issuing
the flow-through shares.
Goliath may pay finders' fees composed of cash
and warrants on certain orders in connection with the placement,
subject to compliance with the policies of the TSX Venture
Exchange. All securities issued and sold under the offering will be
subject to a hold period expiring four months and one day from
their date of issuance. Completion of the offering and the payment
of any finders' fees remain subject to the receipt of all necessary
regulatory approvals, including the approval of the TSX Venture
Exchange.
About Crescat Capital LLC
Crescat is a global macro asset management firm
headquartered in Denver, Colorado. Crescat’s mission is to grow and
protect wealth over the long term by deploying tactical investment
themes based on proprietary value-driven equity and macro models.
Crescat’s goal is industry leading absolute and risk-adjusted
returns over complete business cycles with low correlation to
common benchmarks. Crescat’s investment process involves a mix of
asset classes and strategies to assist with each client’s unique
needs and objectives and includes Global Macro, Long/Short and
Precious Metals funds.
Crescat is advised by Dr. Quinton Hennigh, its
geologic and technical director on investments in gold and silver
resource companies. Dr. Hennigh became an economic geologist after
obtaining his PhD in Geology/Geochemistry from the Colorado School
of Mines. He has more than 30 years of exploration experience with
major gold mining firms that include Homestake Mining, Newcrest
Mining and Newmont Mining. Recently, Dr. Hennigh founded Novo
Resources Corp., and is currently serving as Co-Chairman. Among his
notable project involvements are First Mining Gold’s Springpole
gold deposit in Ontario, Kirkland Lake Gold’s acquisition of the
Fosterville gold mine in Australia, the Rattlesnake Hills gold
deposit in Wyoming, and Lion One’s Tuvatu gold project on Fiji,
among many others.
Golddigger Property
The Golddigger Property is 100% controlled
covering an area of 66,608 hectares (164,592 acres) and is in the
world class geological setting of the Eskay Rift, within 3
kilometers of the Red Line in the Golden Triangle of British
Columbia. This area has hosted some of Canada’s greatest mines that
include Eskay Creek, Premier and Snip. Other significant and well
known deposits in the Golden Triangle include Brucejack, Copper
Canyon, Galore Creek, Granduc, KSM, Red Chris, and Schaft Creek.
Goliath controls 56 kilometers of the Red Line which is a geologic
contact between Triassic age Stuhini rocks and Jurassic age
Hazelton rocks used as key markers when exploring for
gold-copper-silver mineralization.
The Surebet discovery has exceptional continuity
and excellent metallurgy with gold recoveries of 92.2% including
48.8% free gold from gravity alone, at a 327-micrometer crush (no
deleterious elements and no cyanide required to recover the gold
based on metallurgical work completed to date).
It is in an excellent location in close
proximity to the communities of Alice Arm and Kitsault where there
is a permitted mill site on private property. It is situated on
tide water with direct barge access to Prince Rupert (190
kilometers via the Observatory inlet/Portland inlet). The town of
Kitsault is accessible by road (190 kilometers from Terrace, 300
kilometers from Prince Rupert) and has a barge landing, dock,
high-tension power and infrastructure capable of housing at least
300 people.
Additional infrastructure in the area includes
the Dolly Varden Silver Mine Road (only 7 kilometers to the East of
the Surebet discovery) with direct road access to Alice Arm barge
landing (18 kilometers to the south of the Surebet discovery) and
high-tension power (25 kilometers to the east of Surebet
discovery). The city of Terrace (population 16,000) provides access
to railway, major highways, and airport with supplies (food, fuel,
lumber, etc.), while the town of Prince Rupert (population 12,000)
is located on the west coast and houses an international container
seaport also with direct access to railway and an airport.
Consulting Advisory
Agreement
The Corporation is pleased to announce it has
entered into a consulting agreement dated August 8, 2024 (the
“Consulting Agreement”) with Mezzo Consulting Services S.A. (the
“Consultant”) for the provision of advisory services relating to
prospective mergers and acquisitions, fundraising opportunities in
Europe and local business practices, culture and customs
(collectively, the “Services”). The Consulting Agreement shall have
an initial term of 24 months, after which it shall renew for one
month terms on the first day of each calendar month until
terminated by either the Corporation or the Consultant.
As compensation for the provision of the
Services, the Corporation has agreed to issue the Consultant, on a
one time basis, an aggregate of 240,000 restricted share units of
the Corporation (“RSUs”) pursuant to the Corporation’s Omnibus
Equity Incentive Plan (the “Omnibus Plan”). The RSUs shall vest one
year following their issuance and shall otherwise be governed by
the terms of the Omnibus Plan. The issuance of the RSUs remains
subject to the prior approval of the TSX Venture Exchange.
Qualified Person
Rein Turna P. Geo is the qualified person as
defined by National Instrument 43-101, for Goliath Resource Limited
projects, and supervised the preparation of, and has reviewed and
approved, the technical information in this release.
About Goliath Resources
Limited
Goliath Resources Limited is an explorer of
precious metals projects in the prolific Golden Triangle of
northwestern British Columbia. All of its projects are in world
class geological settings and geopolitical safe jurisdictions
amenable to mining in Canada. Goliath is a member and active
supporter of CASERM which is an organization represents a
collaborative venture between Colorado School of Mines and Virginia
Tech. Goliath’s key strategic cornerstone shareholders include
Crescat Capital, Mr. Rob McEwen and Mr. Eric Sprott.
For more information please
contact:
Goliath Resources Limited Mr.
Roger Rosmus Founder and CEO Tel:
+1.416.488.2887roger@goliathresources.com
www.goliathresourcesltd.com
Other
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.
Portable XRF (X-Ray Fluorescence) readings are
semi-quantitative measurements and calibrations of the equipment in
the field not always allow to compare results to certified
reference materials but are used as guideline to augment the
understanding of the mineralization observed. These measurements
are not intended to be representative of the geochemical
composition of the material measured. XRF readings are carried out
using a handheld device and could be influenced by external
factors.
Oriented HQ-diameter or NQ-diameter diamond
drill core from the drill campaign is placed in core boxes by the
drill crew contracted by the Company. Core boxes are transported by
helicopter to the staging area, and then transported by truck to
the core shack. The core is then re-orientated, meterage blocks are
checked, meter marks are labelled, Recovery and RQD measurements
taken, and primary bedding and secondary structural features
including veins, dykes, cleavage, and shears are noted and
measured. The core is then described and transcribed in MX
Deposit™. Drill holes were planned using Leapfrog Geo™ and QGIS™
software and data from the 2017-2022 exploration campaigns. Drill
core containing quartz breccia, stockwork, veining and/or
sulphide(s), or notable alteration are sampled in lengths of 0.5 to
1.5 meters. Core samples are cut lengthwise in half, one-half
remains in the box and the other half is inserted in a clean
plastic bag with a sample tag. Standards, blanks and duplicates
were added in the sample stream at a rate of 10%.
Grab, channels, chip and talus samples were
collected by foot with helicopter assistance. Prospective areas
included, but were not limited to, proximity to MINFile locations,
placer creek occurrences, regional soil anomalies, and potential
gossans based on high-resolution satellite imagery. The rock grab
and chip samples were extracted using a rock hammer, or hammer and
chisel to expose fresh surfaces and to liberate a sample of
anywhere between 0.5 to 5.0 kilograms. All sample sites were
flagged with biodegradable flagging tape and marked with the sample
number. All sample sites were recorded using hand-held GPS units
(accuracy 3-10 meters) and sample ID, easting, northing, elevation,
type of sample (outcrop, subcrop, float, talus, chip, grab, etc.)
and a description of the rock were recorded on all-weather paper.
Samples were then inserted in a clean plastic bag with a sample tag
for transport and shipping to the geochemistry lab. QA/QC samples
including blanks, standards, and duplicate samples were inserted
regularly into the sample sequence at a rate of 10%.
All samples are transported in rice bags sealed
with numbered security tags. A transport company takes them from
the core shack to the ALS labs facilities in North Vancouver. ALS
is either certified to ISO 9001:2008 or accredited to ISO
17025:2005 in all of its locations. At ALS samples were processed,
dried, crushed, and pulverized before analysis using the ME-MS61
and Au-SCR21 methods. For the ME-MS61 method, a prepared sample is
digested with perchloric, nitric, hydrofluoric, and hydrochloric
acids. The residue is topped up with dilute hydrochloric acid and
analyzed by inductively coupled plasma atomic emission
spectrometry. Overlimits were re-analyzed using the ME-OG62 and
Ag-GRA21 methods (gravimetric finish). For Au-SCR21 a large volume
of sample is needed (typically 1-3kg). The sample is crushed and
screened (usually to -106 micron) to separate coarse gold particles
from fine material. After screening, two aliquots of the fine
fraction are analysed using the traditional fire assay method. The
fine fraction is expected to be reasonably homogenous and well
represented by the duplicate analyses. The entire coarse fraction
is assayed to determine the contribution of the coarse gold.
Widths are reported in drill core lengths and
the true widths are estimated to be 80-90% and AuEq metal values
are calculated using: AuEq metal values are calculated using: Au
1924.79 USD/oz, Ag 22.76 USD/oz, Cu 3.75 USD/lbs, Pb 2128.75
USD/ton and Zn 2468.50 USD/ton on December 23, 2023. There is
potential for economic recovery of gold, silver, copper, lead, and
zinc from these occurrences based on other mining and exploration
projects in the same Golden Triangle Mining Camp where Goliath’s
project is located such as the Homestake Ridge Gold Project (Auryn
Resources Technical Report, Updated Mineral Resource Estimate and
Preliminary Economic Assessment on the Homestake Ridge Gold
Project, prepared by Minefill Services Inc. Bothell, Washington,
dated May 29, 2020). Here, AuEq values were calculated using 3-year
running averages for metal price, and included provisions for
metallurgical recoveries, treatment charges, refining costs, and
transportation. Recoveries for Gold were 85.5%, Silver at 74.6%,
Copper at 74.6% and Lead at 45.3%. It will be assumed that Zinc can
be recovered with the Copper at the same recovery rate of 74.6%.
The quoted reference of metallurgical recoveries is not from
Goliath’s Golddigger Project, Surebet Zone mineralization, and
there is no guarantee that such recoveries will ever be achieved,
unless detailed metallurgical work such as in a Feasibility Study
can be eventually completed on the Golddigger Project.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange), nor the OTCQB Venture Market
accepts responsibility for the adequacy or accuracy of this
release.
Certain statements contained in this press
release constitute forward-looking information. These statements
relate to future events or future performance. The use of any of
the words "could", "intend", "expect", "believe", "will",
"projected", "estimated" and similar expressions and statements
relating to matters that are not historical facts are intended to
identify forward-looking information and are based on Goliath’s
current belief or assumptions as to the outcome and timing of such
future events. Actual future results may differ materially. In
particular, this release contains forward-looking information
relating to, among other things, the ability of the Company to
complete financings and its ability to build value for its
shareholders as it develops its mining properties. Various
assumptions or factors are typically applied in drawing conclusions
or making the forecasts or projections set out in forward-looking
information. Those assumptions and factors are based on information
currently available to Goliath. Although such statements are based
on management's reasonable assumptions, there can be no assurance
that the proposed transactions will occur, or that if the proposed
transactions do occur, will be completed on the terms described
above.
The forward-looking information contained in
this release is made as of the date hereof and Goliath is not
obligated to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
except as required by applicable securities laws. Because of the
risks, uncertainties and assumptions contained herein, investors
should not place undue reliance on forward-looking information. The
foregoing statements expressly qualify any forward-looking
information contained herein.
This announcement does not constitute an offer,
invitation, or recommendation to subscribe for or purchase any
securities and neither this announcement nor anything contained in
it shall form the basis of any contract or commitment. In
particular, this announcement does not constitute an offer to sell,
or a solicitation of an offer to buy, securities in the United
States, or in any other jurisdiction in which such an offer would
be illegal. The securities referred to herein have not been and
will not be will not be registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities Act”), or
any state securities laws and may not be offered or sold within the
United States or to or for the account or benefit of a U.S. person
(as defined in Regulation S under the U.S. Securities Act) unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
NOT FOR DISSEMINATION IN THE UNITED
STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT
CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
Goliath Resources (TSXV:GOT)
과거 데이터 주식 차트
부터 9월(9) 2024 으로 10월(10) 2024
Goliath Resources (TSXV:GOT)
과거 데이터 주식 차트
부터 10월(10) 2023 으로 10월(10) 2024