Goliath Resources (TSXV:GOT) Drills Multiple Zones of Mineralization at First Hole of 2022 Drill Program at Golddigger Property, B.C.

Source: Goliath Resources

Goliath Resources (TSXV:GOT) has announced new initial observations from the first successful inaugural hole out of 84 planned drill holes at the Golddigger Property. Located in Golden Triangle, B.C., the 100%-owned property has begun its 2022 diamond drill campaign at the Surebet discovery on the property.

Founder and CEO of Goliath Resources Roger Rosmus commented in a press release: “We are off to an exciting 2022 drill season. Initial results from the inaugural hole with multiple broad intercepts of mineralization have far exceeded our expectations. Mineralization confirmed in the inaugural hole at the New Extension Target strongly indicates the presence of a large mineralizing system at depth on the Golddigger property. The planned 24,000 m drill program will test areas to the east, north and west of the known mineralization covering 5.25 square km and allow us to better understand the relationship between Surebet, the New Extension Target and New Gold. Surebet is shaping up to become the next big high-grade gold-silver discovery in the Golden Triangle, B.C.”

Highlights from the drilling are as follows: 

  • The first hole of 2022 (GD-22-25) on Pad J in the New Extension Target has intersected five broad intervals of disseminated and vein/breccia hosted sulphide mineralization near surface up to 95.5 m containing pyrrhotite, pyrite and chalcopyrite in Hazelton volcanics. Assays are pending and will be released once received, compiled, and interpreted.
    • An accompanying infographic is available at: Click Here
    • An accompanying infographic is available at: Click Here
    • An accompanying infographic is available at: Click Here             
  • The extensive mineralizing system has been confirmed over 1 km North-South along the Surebet  Zone and 2 km East-West from Real Deal to the newly drilled Pad J located in the New Extension Target (see map below); it remains open in all directions.
    • An accompanying infographic is available at: Click Here 
  • The 2022 drill program is designed to expand the extent of known mineralization from 2021 in all directions, including to the West (to Lake Pad, 940 m SW of Real Deal), test the known gold mineralization to the North (to New Gold, 1 km north of North Rubble), and to the East (to Pad J within the New Extension Target, 1.5 Km South-East of the Surebet Outcrop where initial drilling has confirmed multiple broad zones of mineralization)
  • The 2022 drill program will focus on expanding the known parameters of the Surebet high-grade gold-silver discovery with 24,000 m of drilling planned in 84 holes from 24 pad locations using 4 drill rigs. Its designed for resource level infill drilling and outline the large mineralized system over an area of 2.1 km East-West by 2.5 km North-South (5.25 square kilometers).

GD-22-25 (E 458908.947, N 6161976.043, azimuth 120°; dip -85°) was collared from Pad J the most easterly pad planned for 2022 at the New Extension Target located 1.5 km South-East of the outcropping Surebet and 2 km East-West from Real Deal.

Inaugural drilling on the New Extension Target intercepted five broad mineralized intervals characterized by disseminated sulphides, sulphides in stringers, veins and breccias containing pyrrhotite, pyrite and chalcopyrite. The Intervals are from bedrock at 42.4 m to 137.9 m, 181.9 m to 190.37 m, 202.08 m to 222.14 m, 256.9 m to 261.08 m, and 276.01 m to 353.00 m (end of hole) and remains open. The target of this hole was surface mineralization consisting of multiple channel and grab samples containing up to 44.4 gpt Au and 1629 gpt Ag modelled to be intersected at 200-250 m down hole.

Sulphide mineralization primarily occurs disseminated throughout an epidotized andesitic volcanic host rock and as millimeter to centimeter-size stringers and aggregations within quartz and quartz-epidote veins and breccia. The majority consist of pyrrhotite (locally up to 2 %), pyrite (locally up to 5 %) and chalcopyrite (locally up to 3%). A fault zone was intersected from 69.63 m to 78.09 m which is believed to have partially displaced the mineralized units. The drilling and data continue to confirm the presence of a large mineralizing system on the property and mineralization remains open in all directions.

During the 2022 drill campaign, Goliath plans to test the Surebet mineralized system at depth over an extensive area reaching as far as Lake Pad to the West (940 m SW of Real Deal) and New Gold to the North (1 km north of North Rubble) focused on delineating a mineralized area of 2.1 km East-West by 2.5 km North-South (see map above). Several drill locations are planned up to 600 meters West of Real Deal to target the Surebet mineralized system at depth based on the projected model generated from the 2021 drill results and 2020 channel sample results.

A series of drill holes are planned for the New Gold zone located 1 km north of Surebet. Similarly to the New Extension Target, this zone contains surface gold mineralization over 400 meters that remains open with ~ 30 m of gold bearing breccia also observed in outcrop. The New Gold Zone is hosted in Hazelton volcanics in close proximity to the ‘Red Line’. The majority of the world class mineral deposits discovered within the Golden Triangle are hosted in the Hazelton volcanics and occur within a few kilometers of the unconformity between Lower Hazelton and Stuhini rocks (also known as the ‘Red Line’).

Multiple surface channel, chip and grab samples collected from Real Deal and Cloud 9 secondary structures believed to be associated with the Surebet Zone within this area returned significant gold and silver values, further confirming the presence of a large gold-silver rich mineralizing system at depth. These secondary structures are interpreted to be acting as conduits for fluids to the surface.

Source: Goliath Resources

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I cover the mining industry and the best mining stocks around the world. I write about industry news, individual companies, projects, management, and profiles on industry leaders.

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