Goliath Resources (TSXV:GOT) has announced the discovery of a new mineralized zone at its Golddigger Property in British Columbia’s Golden Triangle. The company reported finding visible gold and strong sulphide mineralization in the first drill hole of its 2024 exploration program.

Dr. Quinton Hennigh, Technical and Geologic Director of strategic shareholder, Crescat Capital, commented in a press release: “Just recently, I explained why I think this is going to be a summer of discovery for Goliath. The Company rightly persists to test new ideas and targets that have consistently generated better and better results from Surebet and other targets across the Golddigger Project. And here we are, just one week into the program, with what appears to be a major new discovery of a gold-rich zone, possibly a root feeder to the Surebet and related structures. The abundant particles of visible gold observed in this new zone give reason for a lot of excitement, especially given that mineralization is spatially associated with what might prove to be a causative intrusion. Other indicators support this magmatic association including the presence of molybdenum and bismuth-rich minerals in the sulfide assemblage of the vein breccia. I think the team at Goliath has done a remarkable job of identifying this target using sound science, and they should be congratulated for this remarkable discovery.”

Drill hole GD-24-235, collared from the Golden Gate Pad, intersected multiple mineralized veins containing visible gold, galena, sphalerite, pyrrhotite, and pyrite. The hole, drilled to a depth of 696 meters at an azimuth of 180 degrees and dip of 81 degrees, passed through a sedimentary sequence of mudrocks, an intermediate intrusive unit, multiple intermediate dykes, and andesite.

A significant interval of 22.4 meters containing a porphyritic intrusion with veins showing visible gold, molybdenum, and bismuth mineralization was reported. The company states this increases their confidence in the proximity of the feeder source for the Surebet system, which remains open for further exploration.

The drill hole was designed to intercept the Bonanza shear and test below an area where a previous hole (GD-23-197) intersected 9 meters grading 34.03 g/t gold equivalent in 2023. Goliath Resources reports that mineralization observed in the new hole is similar to what was seen in the 2023 drill hole, suggesting comparable gold grades may be expected.

Several mineralized intervals were highlighted in the company’s announcement:

– A 12-meter interval of high vein density from 445-457 meters downhole
– A quartz vein with significant mineralization from 445.4-447.39 meters
– Another quartz vein from 450.17-450.64 meters with visible gold
– Multiple quartz-sulphide veins observed between 550 and 650 meters downhole
– A 24.4-meter porphyritic intrusive unit from 529.29-553.67 meters

The 2024 drill program at the Golddigger Property is planned for 15,000 meters across 62 drill holes from 22 pad locations. Two drill rigs are currently operating on site. The program will focus on testing the potential feeder source at depth, discovering new veins, expanding the known vein footprint, and increasing vein continuity.

Goliath Resources controls 66,608 hectares at the Golddigger Property, which is located within the Eskay Rift geological setting of British Columbia’s Golden Triangle. The property is situated near other significant mining projects in the region and is reported to have good access to infrastructure, including proximity to tide water and road connections.

The company reports that previous metallurgical work on the Surebet discovery at Golddigger showed gold recoveries of 92.2%, including 48.8% free gold from gravity separation alone, with no cyanide required for gold recovery.

Highlights from the results are as follows:

• Discovery of a new deep zone, the “Mothership Feeder Zone” containing abundant visible gold and strong sulphide mineralization in quartz breccia at 648 meters downhole and 125 meters in elevation above the valley floor from GD-24-235, the first drill hole of 2024 (see image below).
• Discovery of a new 24.4 meter porphyritic intrusion between 529.29 – 553.67 meters downhole containing veins with abundant visible gold, molybdenite up to 2 mm in size and bismuth indicates increased confidence in the proximity of the feeder source of the Surebet system that remains wide open. (see image below).
  • An accompanying infographic is available here

• Results from this first drill hole confirms the strong potential for additional discovery during the 2024 drill program that has just began.
• Follow up on this newly discovered zone is underway with several deeper drill holes planned testing to greater depth inclusive of a 900 meter hole that is being drilled now.
• GD-24-235 is the first drill hole of 2024 which has intersected multiple strongly mineralized veins containing visible gold, galena, sphalerite, pyrrhotite and pyrite mineralization in both the sedimentary and volcanic units.
• GD-24-235 intersected a 12 meter interval of high vein density between 445 – 457 meters downhole, with multiple large quartz-sulphide veins at the contact between sedimentary and volcanic units containing abundant visible gold, up to 2 % sphalerite, 1 % galena, 1 % chalcopyrite, 2 % pyrrhotite, and 3 % pyrite.
• Within the andesite unit of GD-24-235, a 10 meter interval hosting a series of closely spaced quartz-sulphide veins have being observed between 550 and 650 meters downhole with abundant visible gold, up to 30 % pyrrhotite, 3 % chalcopyrite, 1 % sphalerite, and 1 % pyrite (see image below).
  • An accompanying infographic is available here
• Drill hole GD-24-235 was designed to intercept the Bonanza shear and volcanics below where drill hole GD-23-197 from 2023 intersected 9 meters of 34.03 g/t AuEq or 1.09 oz/t AuEq (32.55 g/t Au and 65.71 g/t Ag) in 2023.
• The mineralization observed in hole GD-24-235 from the 445.4 – 447.39 meter downhole interval is reminiscent of what was observed from 449.37 – 458.40 meters in GD-23-197, suggesting that similar gold grades can be expected from this interval; assays pending (see comparison image below).
  • An accompanying infographic is available here

• The drill program on Surebet is focused on testing its potential feeder source at depth above and below the valley floor, discovering new additional veins/shears, expansion of the known 10 vein footprint, and increased continuity of veins/shears.

Surebet Highlights:

• Colorado School of Mines study confirmed in its report, an extensive porphyry feeder source at depth for the high-grade gold mineralising fluids at Surebet, this provides excellent potential for additional upside drill discovery and expansion at depth (see About CASERM below).
• Several lines of evidence, including metals content and geochemical trace elements hot spots, zonation, type, origin of fluids and age of the mineralization strongly suggest vectoring in on a possible Porphyry Feeder Source.
• Exceptional continuity and excellent metallurgical recoveries of 92.2% Gold from gravity & flotation, inclusive of 48.8% Free Gold from gravity alone at a 327 micron crush; no deleterious minerals or cyanide required.
• The Golddigger property is fully permitted until 2029 for 199 drill pads.
• 66,930 meters have been drilled to date at the Golddigger property (2021 – 2023).
• 44 holes (or 35%) of 124 holes drilled in 2023 contained Visible Gold with nuggets up to 11 mm in size.
• 11 holes to date are greater than 100 and up to 513 gm AuEq.
• Best hole drilled to date is GD-23-180 assaying 65.00 g/t AuEq (64.88 g/t Au and 8.03 g/t Ag) over 7.90 meters, including 86.99 g/t AuEq (86.84 g/t Au and 6.52 g/t Ag) over 5.90 meters.
• Mineralization is exposed at surface for 1.0 kilometers of strike and 1.1 kilometers down-dip extent with 700 meters of vertical relief with exceptional continuity.
• 10 mineralized vein horizons have been identified to date and remain open.
• The mineralized footprint of the Surebet discovery corresponds to 1.8 km², the equivalent in size to >336 NFL football fields.

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.

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.

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

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.