Goliath Starts Exploration Field Program on the Nelligan Project in the Chibougamau-Chapais Region of Quebec’s Prolific Abitibi Greenstone Belt

TORONTO, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Goliath Resources Ltd. (TSX-V: GOT.V) (Frankfurt: B4IE) (OTCQB: GOTRF) (the “Company or “Goliath”) is pleased to announce the start of it 2020 exploration field program (the “Stage 1 Program”) on the recently acquired 340km² Nelligan Project (the “Project”) comprising the East and Nelligan West Claim Blocks (See August 10, 2020 - News Release). The Project is 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. 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.

Mr. Roger Rosmus, Director, President and CEO of Goliath states: “Goliath is initiating its Quebec exploration in the prolific Abitibi Belt in preparation for drilling new gold targets generated. We look forward to establishing a significant presence in the Chibougamau-Chapais Mining Camp. We believe in the gold discovery potential in a relatively unexplored segment of the Camp within recently uncovered major structural corridors within the Nelligan Project.”

Goliath’s 2020 Exploration Field Program

The Stage 1 Program follows an initial digital compilation and synthesis of all the historic work on the Nelligan Project and will now be followed up with field reconnaissance work that will consist of prospecting, geological mapping, rock sampling and analysis. The six (6) claim blocks forming the Projects will be covered by an airborne magnetic and EM survey to complement earlier government and company airborne surveys done in the area. The geophysical surveys will be merged into a single database along with any ground geophysical surveys, especially IP, and the prospecting data for eventual drill target identification. New generated gold targets will be drilled later in Q4-2020 and early Q1-2020.