Goliath Starts Exploration Field Program on the Nelligan Project in the Chibougamau-Chapais Region of Quebec’s Prolific Abitibi Greenstone Belt - Seite 2

Of special interest is the 80 mineral claims of the Doda Lake Claim Block which is under option from TomaGold Corporation (See August 10, 2020 - News Release).

The Nelligan Project – the Geology and Exploration Model

The Nelligan Project (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 Nelligan trends. The western boundary Nelligan East Claim Block is located 8km east of the Joe Mann that 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 Claim Block is located at the western end of the Nelligan trend, some 30km from IAMGOLD’s and Vanstar’s 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. 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 Project.