THDR
7 years ago
THUNDER BRINGS THE NEWS
Sent: Thu Apr 12 2018 9:18:46 AM EDT
BusinessWire, GlobeNewswire and PR Newswire News
Arian Resources Corp GNHRF:Grey Market
Goliath Arranges Funding for Inaugural Drilling Programs on Two New Discoveries at Lucky Strike & Copperhead
GlobeNewswire
9:18 AM ET
Goliath Resources Limited (TSX-V:GOT) (Frankfurt:B4IE) (the "Company or "Goliath") is pleased to announce a non-brokered private placement for proceeds totaling $1,300,000. The offering has strong support from both institutions and accredited investors alike in Europe and Canada. The proceeds are earmarked to fund the inaugural drill programs on new discoveries on both the Copperhead and Lucky Strike properties. The exploration programs on these two properties is also planned to include systematic exploration, inclusive of geophysics, detailed mapping and additional alteration studies to assist in understanding the extent and controls on mineralization that will help further define the geologic models. The financing is scheduled to close next week on Thursday, April 19th, 2018.
Mr. Roger Rosmus, CEO states:
"We are extremely pleased with the results to date generated by the team's hard work and with the significant interest received from the financial and technical community, inclusive of many senior mining companies. Our two properties being drilled are situated in the right geological settings where several large world class mineral deposits have been discovered and have the added benefit of having logging road access and excellent infrastructure nearby in Terrace & Smithers B.C. The geologic team is excited to start drilling these new discoveries and continue moving all four properties further up the value curve with the 2018 exploration programs. Any one of these discoveries could be a drill hole away from unlocking significant value for our shareholders."
The offering will consist of flow-through units (each an "FT Unit") at the price of $0.15 and non-flow-through units (each an "NFT Unit") at the price of $0.11. Each FT Unit will be comprised of one common share which is a "flow-through" share for Canadian income tax purposes and one share purchase warrant (each full warrant a "$0.30 Warrant"). Each $0.30 Warrant will entitle the holder to purchase one additional common share which is not a "flow-through" share at the price of $0.30 for 24 months after Closing. Each NFT Unit will be comprised of one common share which is not a "flow-through" share and one share purchase warrant (each a "$0.22 Warrant"). Each $0.22 Warrant will entitle the holder to purchase one additional common share which is not a "flow-through" share at the price of $0.22 for a period of 24 months after Closing. If at any time after four months after the date of completion of the offering the Company's Shares have a closing price equal to or higher than $0.44 or $0.60 per Share for ten (10) consecutive trading days on the TSX-V (as defined herein), the Company shall thereafter be entitled to give notice to the holders of all $0.22 Warrants or the $0.30 Warrants respectively, by news release, that such warrants will expire at 4:30 p.m. (Toronto time) on that date which is 30 days after the date of such news release unless exercised before the expiry of that period.
The Company will pay finder's fees equal to 7% of the gross proceeds from a portion of the financing in cash, and 7% finders warrants equal to the number of units sold in accordance with the policies of th e TSX Venture Exchange. The proposed private placement and finder's fees are subject to TSX Venture Exchange acceptance. All shares issued pursuant to the offering (including shares issued to finders) and any shares issued pursuant to the exercise of warrants will be subject to a four-month hold period from the closing date.
About Goliath
Goliath Resources Limited is a precious metals exploration company focused in the prolific Golden Triangle and surrounding area of northwestern British Columbia. It controls 100% of four highly prospective properties that include Bingo, Golddigger, Lucky Strike and Copperhe ad covering over 44,000 hectares. All four properties have brand new discoveries that all have returned anomalous gold, silver and/or copper in grab and channel samples from exposed bedrock at surface. These new discoveries occurred in an area of glacial recession and snowpack melting in a geological setting where world class deposits have been found within the Golden Triangle and surrounding area.
Drill Ready Projects
Lucky Strike Property - Drill Ready Prosperity Bullseye Zone
The Prosperity Bullseye Zone is 2.4km x 3.4km in size is completely surrounded by and are at the headwaters of the two most prolific placer gold creeks in the entire district (Historical - see BC MINFILE 103I204 and 103I050). There is logging road access from the paved highway that takes you within 500 metres of the drill site at The Prosperity Bullseye Zone, which is believed to be the source of the placer gold. A 2000 by 400 metre soil anomaly has a geochemical signature consistent with a porphyry system (Cu, Mo, Au, Bi, Sb), with one highly anomalous soil sample containing 7.87 g/t gold (See Jan 8, 2018 Press Release). Coincident with the soil anomaly, a SkyTEM electromagnetic survey found concentric conductive zones flanking a magnetic high extending over 2500 x 1500 x 500 metres that remains open to depth (link to 3D model video). Within the zone there are historically documented high-grade polymetallic veins and lo calized altered intrusives with molybdenum (0.29%). A preliminary alteration study of a single bedrock sample determined the rock was a porphyritic intrusive with phyllic alteration and disseminated pyrite and chalcopyrite mineralization. All of the above are compatible with the porphyry deposit model. Historical assay results have not been independently verified.
The 2018 exploration program is also planned to include systematic exploration including ground and airborne geophysics, detailed mapping, additional alteration studies to assist in understanding the extent and controls on mineralization in preparation for drilling this porphyry target. Link to video (click here - video), all maps (click here - maps), and all photos (click here - photos).
Copperhead Property - Drill Ready Copper King Trend
The Copper King Trend is 2000 x 350 metre target area defined by mineralized grab, chip and channel samples which is being explored for its porphyry potential. The property has logging road access from a paved highway that are 6km to the drill site. SkyTEM aerial magnetics and electromagnetic data discovered an intense magnetic high and adjacent resistive zone, consistent with a hydrothermal alteration system. Highlights from the zone include an eleven metre chip sample from a volcanic breccia containing massive and semi-massive sulphides that returned 0.17 g/t Au, 4.28 % Cu, and 45.41 g/t Ag. An 8 m etre chip sample returned 0.08 g/t Au, 1.57 % Cu, and 12.45 g/t Ag (See Jan 15, 2018 Press Release). Both chip samples started and ended in mineralization and remain open. Massive and semi-massive sulphide breccias are documented in an area of sparse outcrop over 450 metres south. Grab samples with copper mineralization up to 7.97% were taken from this brecciated system which is likely a continuation of that to the north. 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.
Ground and airborne geophysics, trenching, channel sampling, detailed mapping, soil sampling, and prospecting will trace the copper mineralization along strike and will be completed prior to drilling in 201 8. Links to video (click here - video), all maps (click here - maps), and all photos (click here - photos).
Exploration Projects
Golddigger Property - Gold-Swarm Discovery
The newly discovered Goldswarm zone on the Golddigger Property is a large breccia at surface extending over 115 by 95 metres. It remains open in all directions within a large unexplored alteration zone recently exposed by receding snowpack and glacial ice. The zone is situated within the Golden Triangle and within two kilometres of the unconformity between the Lower Hazelton and Stuhini rocks, also known as the "Red Line" the key location where the vast majority of major deposits have been found within the Golden Triangle.
All grab samples taken from Goldswarm contained gold mineralization ranging from 3.77 to 21.1 g/t Au in outcrop (See Nov 28, 2017 Press Release). A visible alteration zone extending over 1200 by 150 metres remains unexplored. Ongoing glacial and snowpack abatement will provide for additional strong discovery potential. 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 2018 exploration program will involve prospecting, detailed mapping, channel sampling, an alteration study, and a drone survey that will help develop our understanding of the extent and controls on mineralization.
Bingo Property - Bingo Main Zone Discovery
The newly discovered Bingo Main Zone on the Bingo Property is a large zone of gold and copper mineralized grab, chip, and channel samples within a stratabound horizon that extends over an area of 3 20 by 175 metres and remains open in all directions. 83% of all the samples taken contained anomalous gold mineralization with highlights from the zone include a channel cut over 4.85 metres that assayed 1.77 gpt Au, and 0.20 % Cu, and a channel cut over 3.20 metres assayed 1.48 gpt Au and 0.37 % Cu (See Dec 5, 2017 Press Release). The zone is very magnetic, and the mineralized horizon will be traced to depth with an airborne magnetic survey.
The 2018 exploration program will include detailed mapping, prospecting, channel sampling and a drone survey in preparation for an extensive drill program in 2019.
Othe r
Stefan Kruse, Ph.D., P. Geo., Chief Consulting Geologist, is the qualified person as defined by National Instrument 43-101, for Goliath Resources Limited exploration projects, 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 Terrace, BC or in Reno Nevada. 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 and using multi-element aqua regia dig estion. The coarse reject portions of the rock, channel and talus fine samples, as well as the pulps, were shipped to Goliath'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 lead-collection 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. Blank and duplicates QA/QC samples were inserted into cha nnels sample laboratory batches. Additionally, and 10% sub-sample of pulp and reject material was sent to Activation Laboratories in Ancaster Ontario, for check-analysis.
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 www.goliathresourcesltd.com
Contact Information:
Roger Rosmus
Chief Executive Officer
roger@goliathresources.com
+1-416-488-2887 x222
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
https://resource.globenewswire.com/Resource/Download/58f02673-5851-4b8d-9376-2037aacb7a53?size=1
precious_gold
14 years ago
GOLDEN TOUCH RESOURCES (TSX.V)
TRADING SYMBOL: GOT
INVESTMENT HIGHLIGHTS
Golden Touch Resources (GOT.V) is a mineral and development company that announced on Dec. 20th, 2010, an agreement to merge with Jab Resources Limited, a company that held the portfolio of many Albanian projects in many advanced stages of exploration.
The fundamentals of the GOT / JAB deal is essentially very simple. Consideration for Jab will be paid by the 1) issuance of approximately 8,568,376 common shares of GOT, 2) warrants to purchase 269,352 common shares of GOT exercisable at $1.20 per share and 3) warrants to purchase an additional 1,925,449 shares of GOT exercisable at $1.80 per share.
PROJECTS IN ALBANIA
Golden Touch Resources acquires from the merger a healthy portfolio of exploration permits totaling approximately 140 Sq. km’s located in Northern Albania. Previous to the merger, Jab Resources had spent over 5 Million Dollars on exploration and development within the permit areas. As a result of this vigorous work effort, an outlining of a significant package of Gold, Chromite, and Platinum mineralization were discovered. Golden Touch has recently commissioned an updated National Instrument 43-101 compliant technical report.
PROJECT HIGHLIGHTS
GOLD
Previous drilling has discovered and defined a gold bearing “breccia zone” with an average surface size of around 10 meters wide and 1300 meters in length. A total of 157 holes have been completed on the region with grades as high as 7 meters of 10 grams per ton Gold. Drill results of surface grades have been reported as high as 6 meters of 6.3 grams per ton and 9 meters of 3.3 grams per ton. In addition to the discovery at this zone, there are another 6 high priority gold zones that have showed positive surface results but are yet to be drill tested. Further testing of these addition gold zones is said to be in GOT’s next phase of exploration plans.
CHROMITE
Prior to the merger between Golden Touch and Jab Resources, 3 Million Dollars was spent by Jab on exploration and also the completion of a pre-feesibilitystudy on the company’s chromite project. The study indicates that there is an estimated NPVof 200 Million Dollars and that the potential mine life of this site would be around 20 years. With 57 holes recently drilled by Jab, the company concluded that the operation would be made up of several mine sites that would surround a central processing facility. This processing facility handle a two stage production of concentrating the chromite in the first stage, and then the second stage would be the further concentration of the materials down to a substance called ferrochrome. Ferrochrome is needed in the production process of high grade steel and also stainless steel.
PLATINUM
Previous drilling on the company’s platinum project has identified a “breccia zone” with significant showings of platinum averaging 4.8 grams per ton. The zone is spread out intermittently over an area of around 6 kilometers with grades on the actual surface as high as 14 meters of 1.5 grams per ton. Further exploration of this zone has been planned is detail for the company’s next phase of exploration.
GOT shares are currently traded on the Toronto Venture Exchange (TSX.V: GOT) and also on the Frankfurt Stock Exchange (0GT). For more information contact Golden Touch President, AlyMawji at: 1-604-306-5415 or visit: www.goldentouchresourcescom
Penny Stocks 2.0
14 years ago
Golden Touch Resources Corp. - NEWS RELEASE
Golden Touch Res Corp. Ordinary Shares (Canada) (USOTC:GNHRF)
Intraday Stock Chart
Today : Monday 8 November 2010
Golden Touch Resources Corp. ("Golden Touch" or the "Company", formerly known as GFE Capital Corp.) (TSX-V Symbol: GOT) is pleased to announce that it has signed a non binding letter of intent (the "LOI") to purchase 100% of the issued capital of Jab Resources SH PK ("Jab Albania"). Jab Albania is the wholly owned Albanian subsidiary of Jab Resources Limited of Australia ("Jab Australia"). In consideration of the acquisition of Jab Albania, the Company will, subject to the acceptance of the TSX Venture Exchange, issue 8,146,887 common shares in the capital of Golden Touch (the "GT shares") and pay CAD $200,000 to Jab Australia. The Company has been advised that Jab Australia intends to dividend out the GT Shares to its shareholders. Golden Touch paid Jab Australia a non refundable $20,000 payment upon the execution of the LOI. Jab Albania is the holder of a portfolio of exploration permits totaling approximately 140 sq km, located in Northern Albania. Jab Albania has already spent in excess of US$5 million on exploration within the permit areas, which has resulted in the outlining of significant gold, platinum group elements (PGE) and chromite mineralization.
Golden Touch is currently conducting due diligence with regard to this proposed acquisition including site visits, title confirmation and corporate records review. Golden Touch and Jab Albania have agreed to use their best efforts to negotiate a definitive purchase and sale agreement by November 19, 2010. Golden Touch advises that until such time as it is satisfied with its due diligence enquiries and the parties have entered into a formal share purchase agreement, there is no guarantee that the transaction will occur as stated or at all.
Jab Australia commissioned Mathison Geoscience Pty Ltd. to prepare of a National Instrument 43-101 compliant technical report (the "Report") on the Albanian Exploration Projects held by Jab Albania, which Report dated September 30, 2009 and revised February 18, 2010 is filed and available for review on SEDAR under Jab Australia's company profile. The following commentary from Jab Albania provides a summary of the information on the Albanian Exploration Projects. Readers are cautioned not to rely entirely on this summary, but are encouraged to review the Report in its entirety.
GOLD
Exploration for gold has located near surface gold mineralization within a major regional structural breccia zone that can be defined over a strike length of 20 km. Along this strike interval geochemical surface soil sampling has defined a number of gold in soil anomalies over approximately ten kilometres of the strike. One anomaly coincides with an area previously drill tested in the 1980's for "sulphide bearing silica"(silica). The silica was used as a flux material for a copper smelter. The other nine kilometres remains untested.
The sulphide bearing silica (silica) occurs as pods within the breccias which dips northwards at around 30 degrees. The silica located in each hole was selectively sampled and assayed for a range of elements, of which only gold was found to be present in significant quantities.
The results of 157 diamond holes, ranging in diameter 74-146 mm, have been verified and compiled into a data base of historical information. Most of the holes were drilled on a 40 m x 40 m grid (some areas 20m x 20m) over a length of 700 metres along the strike of the breccia, with scattered holes out to a length of 1,300 metres.
From these holes 246 separate assays (average down hole interval one metre), have been compiled by Jab Albania into a data base and evaluated. The best gold bearing down hole intervals being:
Hole Intercept downhole (M) Intercept thickness (m) Grade ( g/t Au)
415 59-65.9 6.9 9.5
64 26.5 - 34.5 8.0 7.2
224 48-53.5 5.5 10.4
26a 41.5 - 43.5 2 21.8
62 55-59.6 4.6 6.4
224 44-44.8 0.8 29.4
540 45-46.8 1.8 10.25
274 56-56.6 0.6 23.7
The gold mineralisation is open in both directions along strike, as well as to depth. The prospective breccia zone dips at about 30 degrees to the north beneath a thin layer of colluvium.
High grade gold mineralization occurs in at least four areas, each of which could reflect a mineralized pipe, originally fed from depth, that have been developed within major structural dilation zones within the breccia.
Surface sampling by Jab Albania has indicated that gold occurs not only in the silica pods but elsewhere in the breccias. The geological logs suggests that the breccias may average 10 metres in width.
Jab Albania has completed a trench over the only known outcrop on the property, which has defined mineralization in excess of 6 metres in width with an average gold grade of 6.3 g/t Au.
Jab Albania is of the view that the evaluation of the prospective breccia zone within any drill hole is incomplete and hence there is potential for verification drilling to locate additional gold mineralization even within the section drilled.
PLATINUM
JAB Albania has defined PGE mineralization within a 6 km long structural breccia zone in north eastern Albania. Within this zone previous drilling has outlined mineralization.
21 diamond drill holes (diameter 91mm-127 mm) have been drilled over a strike length of 250 metres, mostly on a 20m x 20 m grid. From these holes Jab has been able to verify 135 assays results considered significant (>0.1 g/t Pt, each of which typically represents a one metre downhole intervals.
Significant drill holes include:
Hole Intercepted (m) Intercept width (m) Grade Pt (g/t)
74 0-3.5 3.5 3.0
16 34.8-35.8 1.0 3.3
47 16.5 -21.5 5.0 1.52
80 51-54 3.0 1.9
57 71-72 1.0 1.0
70 45-48.8 3.3 0.9
Recent trenching indicates the zone prospective for PGE's are 5-14 metres wide averaging 1.5-2 g/t Pt.
The trench intercepts are much wider than those of the drilling, suggests that the full width of the prospective zone has not been fully evaluated by the drilling.
Mineralogy suggests that Pt makes up around 80% of the PGE and most of the rest is Pd. There is also around 28% Cr2O3 associated with the PGE zones.
CHROMITE
JAB Albania has undertaken an exploration program to evaluate chromite mineralization over an area of about 100 sq km of north eastern Albania. The program included an evaluation of historic drill results of work conducted by the Albanian government as well as trenching and drilling conducted by Jab Albania. Jab Albania completed 57 reverse circulation holes (diameter 114-127 mm for 3834 metres to test a small part of the total prospective chromite bearing area within its permit areas.
From the drill program a total of 3,204 samples were sent to the ALS Laboratory in Romania for analysis. All the drill holes intersected chromite mineralisation, providing the impetus to commence independent studies of the mineralogy and metallurgy of the mineralization as well as resource estimates, open pit optimization and environmental studies.
From these investigations Jab Albania prepared an internal pre feasibility study into the development of an open pit and underground chromite mine and downstream processing project and was able to demonstrate that, subject to further drilling, a viable project could be established.
In the 1980's Albania was the world's third largest supplier of chromite ore. About one million tonnes of ore have been previously mined from within Jab Albania's tenements, all from the selective mining of direct shipping chromite ore from narrow outcropping high grade pods.
JAB Albania's drilling suggests that substantial areas of disseminated mineralization occur around the high grade pods, with a view to establish large tonnage lower grade open pit mines, supplemented by more selective higher grade selective underground mines, target the larger pods present. By including lower grade material Jab Albania found that tonnage of mineralization could be substantially increased over previous estimates.
Jab Albania is of the view that the areas considered prospective for chromite occur in four separate locations within the permits, totaling 25 kms of strike. The Company is also of the view that to date only a small part of the potential chromite bearing area has been drill evaluated and that further drilling could establish a substantial resource ahead of the development of a significant mining and ore processing operation.
The metallurgical test work has suggested that a chromite concentrate with an attractive Cr:Fe ratio could be produced from a first stage processing plant, that would be suitable for conversion to a high carbon ferrochrome at a grade above 60% Cr, which could be developed as a second stage plant.
The technical content of this news has been reviewed and prepared by Robert Murdoch, a member of Australasian Institute of Mining and Metallurgy and also Australian Institute of Geoscientists, a qualified person within the definitions of National Instrument 43-101. Mr. Robert Murdoch is the executive director of Jab Resources Limited the owner of Jab Albania.
On Behalf of the Board of Directors Golden Touch Resources Corp.
David Schmidt, President
This news release includes "forward-looking information", as such term is defined in applicable securities laws. The forward-looking information includes, without limitation, statements regarding the extent and timing of its exploration programs, exploration program budgets and exploration results. This forward-looking information is given as of the date of this news release. Users of forward-looking information are cautioned that actual results may vary from the forward-looking information contained herein. While the Company has based this forward-looking information on its expectations about future events as at the date that such information was prepared, the information is not a guarantee of the Company's future performance and is subject to risks, uncertainties, assumptions and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking information. Such factors and assumptions include, amongst others, the effects of general economic conditions, the price of lithium, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings and negotiations and misjudgments in the course of preparing forward-looking information. In addition, there are also known and unknown risk factors which could cause the Company's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Known risk factors include, among others, risks relating to exploration and development; the ability of the Company to obtain additional financing; the Company's limited operating history; the need to comply with environmental and governmental regulations; political and economic instability and general civil unrest in Bolivia; potential defects in title to the properties; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; and other risks and uncertainties. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company is under no obligation to update or alter any forward-looking information except as required under applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
SOURCE Golden Touch Resources Corp.
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