Goliath Resources (TSXV:GOT) Reports Visible Gold and Quartz-Sulphide Mineralization, Intercepts 14.68 g/t AuEq Over 26.89 Meters at Surebet Zone, Golddigger Property, B.C

Source: Goliath Resources Limited

Goliath Resources (TSXV:GOT) has announced assay results for several drill holes from the Golden Gate Feeder Zone at its Golddigger Property located in the Golden Triangle, B.C. All of the drill holes revealed extensive intervals of quartz-sulphide mineralization accompanied by several occurrences of visible gold.

For hole GD-23-173, gold was discovered in two main intervals. The most notable interval, known as the Surebet Zone, ranged from 45.11 to 72 meters. Within this section, concentrations of 33.02 g/t gold equivalent were detected over 9.60 meters. The observed minerals in this zone include pyrrhotite, sphalerite, galena, and minor chalcopyrite. Visible gold was spotted seven times in the Surebet Zone, with the largest piece measuring up to 0.7 mm. Another significant interval, called the Bonanza Shear, was found between 446 and 455.27 meters. Assays for the latter are still underway.

In the GD-23-116 hole, three distinct mineralized intervals were noted. The Surebet Zone was detected between 38 and 42 meters with a concentration of 11.86 g/t gold equivalent over 3.00 meters. Further in-depth, another segment was located between 104 to 107 meters and a third at depths between 513 and 516.64 meters. The detected minerals in this hole were predominantly galena, sphalerite, pyrrhotite, chalcopyrite, and pyrite.

Hole GD-23-151 exhibited quartz-sulphide mineralization over three segments. The first is believed to be a splay of the Surebet zone, yielding 2.36 g/t gold equivalent over 2.70 meters. The primary Surebet Zone displayed a concentration of 8.28 g/t gold equivalent over 2.70 meters. Further results for the Bonanza Shear are pending. A notable find was a 0.5-millimeter-wide flake of visible gold at a depth of 143.85 m.

GD-23-135 demonstrated visible gold and quartz-sulphide mineralization over three intervals. The primary interval, linked to the Bonanza Shear, showed concentrations of 4.06 g/t gold equivalent over 5.00 meters. Two other intervals connected to the Surebet Zone were also observed. Visible gold was located at the 61.00-meter depth.

Source: Goliath Resources Limited

The drill results offer insights into the mineral wealth of the Golden Gate Feeder Zone. They not only highlight the presence of gold but also provide details on other minerals such as sphalerite, galena, and chalcopyrite among others. Further analyses and studies are expected to shed more light on the potential of the Golddigger Property.

The Golddigger Property is situated in the renowned geological setting of the Eskay Rift, nestled within the famed Golden Triangle of British Columbia. Spanning a vast expanse of 59,089 hectares (or 146,012 acres), this property is positioned within just 3 kilometers of the pivotal ‘Red Line,’ a geological marker known to host multiple world-class deposits.

A standout feature of the Golddigger Property is the Surebet discovery. This discovery boasts outstanding metallurgical results with gold recoveries standing at an impressive 92.2%. A significant portion, 48.8% to be precise, of this gold can be derived just from gravity at a 327-micrometer crush, highlighting the discovery’s potential.

Strategically, the location of the Golddigger Property is unparalleled. It is comfortably close to the communities of Alice Arm and Kitsault, and there’s an added advantage of having a permitted mill site on private property nearby. The property is ideally located on tide water, making it conveniently accessible by barge all the way to Prince Rupert, a distance of 190 kilometers via the Observatory inlet/Portland inlet. Further bolstering its accessibility, the town of Kitsault can be reached by road and boasts facilities like a barge landing, dock, and infrastructure that can accommodate up to 300 people. This town is also equipped with high-tension power, making it energy-efficient.

The region surrounding the Golddigger Property is also well-developed. Notably, the Dolly Varden Silver Mine Road is merely 7 kilometers east of the Surebet discovery. Other key infrastructures, such as the Alice Arm barge landing and high-tension power, are also in close proximity.

The city of Terrace, with a population of 16,000, acts as a pivotal hub, offering access to railways, major highways, and an airport. It also serves as a crucial supply point for essentials ranging from food and fuel to lumber. On the other hand, the coastal town of Prince Rupert, home to 12,000 residents, is significant in its own right. Apart from housing an international container seaport, it provides access to a railway network, an airport, and supplies.

Highlights from the results are as follows:

  • GD-23-173 intercepted Visible Gold and significant quartz-sulphide mineralization in 2 broad mineralized intervals. The main interval corresponds to the Surebet Zone and was intersected from 45.11 to 72.00 meters.
    • The main intercept consists of 14.68 g/t AuEq (5.81 g/t Au and 719.13 g/t Ag) over 26.89 meters (approx. true width) including 23.89 g/t AuEq (9.40 g/t Au and 1176.14 g/t Ag) over 15.49 meters and 33.02 g/t AuEq (10.97 g/t Au and 1817.34 g/t Ag) over 9.60 meters.
    • A 9.27-meter interval from the deeper high grade Bonanza Shear intercepted from 446 to 455.27 meters that contains Visible Gold and abundant semi-massive and stringer galena, sphalerite, pyrrhotite and chalcopyrite (assays pending).
    • An accompanying infographic is available here
  • GD-23-116 intercepted 3 intervals with significant quartz-sulphide mineralization as massive to semi-massive and stockwork galena, sphalerite, pyrrhotite, chalcopyrite and pyrite. The main intercept between 38 and 42 meters corresponds to the Surebet Zone, a second interval from 104 to 107 meters corresponds to a Surebet splay and the third interval corresponds to the Bonanza Shear from 513 to 516.64 meters.
    • The main intercept consists of 11.86 g/t AuEq (8.92 g/t Au and 147.53 g/t Ag) over 3.00 meters* within 8.94 g/t AuEq (6.75 g/t Au and 73.10 g/t Ag) over 4.00 meters*.
    • A second mineralized interval consists of 5.11 g/t AuEq (2.39 g/t Au and 219.00 g/t Ag) over 3.00 meters*.
    • The third interval consists of 5.77 g/t AuEq (4.70 g/t Au and 29.93 g/t Ag) over 3.64 meters* interpreted as the Bonanza Shear.
    • An accompanying infographic is available here
  • GD-23-151 intercepted 3 mineralized intervals. The first two intercepts were intersected from 79.15 to 81.85 meters and 99.15 to 168.38 meters and are interpreted to be a Surebet Splay and Surebet Zone, respectively. One intercept of the Bonanza Shear was intersected from 475.41 to 502.00 meters.
    • The main intercept corresponds to the Surebet Zone and consists of 8.28 g/t AuEq (7.25 g/t Au and 51.81 g/t Ag) over 2.70 meters* within 3.77 g/t AuEq (3.32 g/t Au and 23.07 g/t Ag) over 6.70 meters* within 2.93 g/t AuEq (2.56 g/t Au and 18.64 g/t Ag) over 8.85 meters* and within 1.05 g/t AuEq (0.89 g/t Au and 8.21 g/t Ag) over 29.85 meters*.
    • Assays are pending on a 26.59 meter* interval from the lower high grade Bonanza Shear consisting of abundant stockwork, stringer and massive galena, sphalerite and pyrrhotite.
    • Mineralization in the gold-rich intercepts consists of stockwork to stringer and massive sulphides with up to 1% sphalerite, 1% galena and 10% pyrrhotite, and includes one occurrence of Visible Gold at a depth of 143.85 meters (Surebet Zone).
    • An accompanying infographic is available here
  • GD-23-135 intercepted Visible Gold and quartz-sulphide mineralization in 3 significant mineralized intervals:
    • The main interval corresponds to the Bonanza Shear and consists of 5.00 meters* of 4.06 g/t AuEq (3.97 g/t Au and 2.08 g/t Ag) within 9.00 meters* of 2.87 g/t AuEq (2.81 g/t Au and 1.70 g/t Ag) and within 19.02 meters* of 1.75 g/t AuEq (1.70 g/t Au and 1.21 g/t Ag).
    • A second interval corresponds to the Surebet Zone and consists of 1.17 meters* of 6.33 g/t AuEq (5.75 g/t Au and 32.50 g/t Ag) within 3.17 meters* of 3.31 g/t AuEq (2.82 g/t Au and 25.59 g/t Ag).
    • The last interval is most likely a splay off the Surebet Zone and consists of 2.00 meters* of 4.41 g/t AuEq (2.76 g/t Au and 76.70 g/t Ag) within 4.76 meters* of 2.09 g/t AuEq (1.22 g/t Au and 39.16 g/t Ag).
    • An accompanying infographic is available here
  • All the occurrences of Visible Gold to date have been consistently identified within quartz-breccia and veins in contact with or in close proximity to pyrrhotite, sphalerite and/or galena mineralization.
  • Based on 2021 and 2022 drill assay results, the Bonanza Shear and Surebet Zone are currently modeled to be >13,000,000 m3 (Avg. 5.31 meters* @ 2.7 AuEq) and 5,500,000 m3 (Avg. 6.88 meters* @ 6.31 g/t AuEq) respectively (see model below).
    • An accompanying infographic is available here

Table 1: Selected 2023 Golddigger drill hole assay results.

Hole ID From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%) AuEq (g/t)
GD-23-116 Interval 38.00 42.00 4.00 6.75 73.10 0.02 0.02 0.00 8.94
Including 38.00 41.00 3.00 8.92 147.53 0.09 1.70 1.23 11.86
Interval 104.00 107.00 3.00 2.39 219.00 0.02 0.12 0.16 5.11
Interval 513.00 516.64 3.64 4.70 29.93 0.03 0.97 0.86 5.77
GD-23-135 Interval 54.80 66.00 11.20 0.58 20.73 0.01 0.26 0.33 1.07
Including 59.00 63.76 4.76 1.22 39.16 0.02 0.50 0.53 2.09
Including 59.00 61.00 2.00 2.76 76.70 0.02 0.98 0.97 4.41
Interval 100.00 113.62 13.62 0.86 9.74 0.01 0.03 0.08 1.03
Including 100.00 105.17 5.17 1.82 22.16 0.01 0.08 0.20 2.20
Including 102.00 105.17 3.17 2.82 25.59 0.01 0.13 0.31 3.31
Including 104.00 105.17 1.17 5.75 32.50 0.02 0.13 0.32 6.33
Interval 141.52 148.85 7.33 0.41 8.19 0.00 0.06 0.13 0.58
Including 144.00 145.70 1.70 1.19 8.13 0.00 0.06 0.26 1.42
Including 144.86 145.70 0.84 1.61 6.72 0.00 0.08 0.32 1.85
Interval 388.15 407.17 19.02 1.70 1.21 0.00 0.00 0.06 1.75
Including 397.00 406.00 9.00 2.81 1.70 0.00 0.00 0.10 2.87
Including 397.00 404.00 7.00 3.32 2.00 0.00 0.00 0.12 3.40
Including 397.00 402.00 5.00 3.97 2.08 0.00 0.00 0.15 4.06
Interval 430.00 432.00 2.00 0.39 1.07 0.01 0.00 0.02 0.42
Including 430.00 431.00 1.00 0.67 1.02 0.01 0.00 0.03 0.70
GD-23-151 Interval 99.15 129 29.85 0.89 8.21 0.01 0.08 0.06 1.05
Including 99.15 108.00 8.85 2.56 18.64 0.01 0.21 0.17 2.93
Including 100.30 107.00 6.70 3.32 23.07 0.01 0.26 0.19 3.77
Including 100.30 103.00 2.70 7.25 51.81 0.02 0.63 0.44 8.28
GD-23-173 Interval 45.11 72.00 26.89 5.81 719.13 0.03 0.50 0.39 14.68
Including 46.26 61.75 15.49 9.40 1176.14 0.05 0.81 0.60 23.89
Including 51.00 60.60 9.60 10.97 1817.34 0.05 0.73 0.60 33.02

Table 2: Collar information for the drill hole reported in this news release.

Drillhole Name Easting Northing CRS Azimuth Dip Length (m)
GD-23-116 457720.7 6162966 NAD83 UTM Z9N 130 63 532
GD-23-135 457712.0 6162910 NAD83 UTM Z9N 160 55 521
GD-23-151 457717.5 6162967 NAD83 UTM Z9N 215 55 555
GD-23-173 457717.2 6162968 NAD83 UTM Z9N 235 85 473

 

 

 

 

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.
Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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