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MarketScreener Homepage  >  Equities  >  TSX VENTURE EXCHANGE  >  Goliath Resources Limited    GOT   CA0917411088

GOLIATH RESOURCES LIMITED

(GOT)
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Goliath Resources : Provides Exploration Update on its Nelligan Gold-Copper Project, Abitibi Greenstone Belt

11/17/2020 | 11:11am EST

TORONTO - Goliath Resources Ltd. (TSX-V: GOT.V) (Frankfurt: B4IE) (OTCQB: GOTRF) (the 'Company or 'Goliath') is pleased to announce the completion of its 2020 reconnaissance exploration field program (the 'Stage 1 Program') on the recently acquired district-scale precious and base metal play covering its 340km2 Nelligan Gold-Copper Project (the 'Project').

The Project is located in the southern segment of Chibougamau-Chapais Mining Camp (the 'Camp'), some 50km (Nelligan East Claim Block) and 75km (Nelligan West Claim Block) from Chibougamau within the prolific Abitibi Greenstone Belt (the 'AGB'). The Camp 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.

After the initial digital compilation and synthesis of all the historic work on the Nelligan Project, Goliath' Exploration Team followed up with a 30-day reconnaissance field exploration work consisting of (1) re-opening 20km of historic logging roads on the Nelligan West Claim Block to access the Doda Lake, Noel Lake, Pougnet Lake and Dallaire Claims and (2) prospecting, geological mapping and rock sampling, with a focus of the Doda Lake Claims.

Contact:

Mr. Roger Rosmus

Tel: +1-416-488-2887

Email: roger@goliathresources.com

Web: www.goliathresourcesltd.com

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 Company to complete the financing 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.

The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the 'Securities Act'), or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, within the United States, unless the securities have been registered under the Securities Act or an exemption from the registration requirements of the Securities Act is available.

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
GOLIATH RESOURCES LIMITED -2.08% 0.47 Delayed Quote.2.13%
IAMGOLD CORPORATION -1.81% 4.33 Delayed Quote.-5.57%
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Financials
Sales 2020 - - -
Net income 2020 -2,49 M -1,97 M -1,97 M
Net cash 2020 0,11 M 0,09 M 0,09 M
P/E ratio 2020 -0,83x
Yield 2020 -
Capitalization 18,3 M 14,4 M 14,4 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 98,4%
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Managers and Directors
NameTitle
Roger Rosmus President, Chief Executive Officer & Director
Graham Charles Warren Chief Financial Officer, Secretary & Director
Wayne Vance Isaacs Independent Director
Jean Lafleur Independent Director
Ewan Webster Senior Consultant
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