35.04 g/t gold equivalent over ~true width of over 6 meters : Goliath Resources finds high-grade gold source!

While a gold medal in Paris only yields 6 grams of the yellow metal, Goliath Resources (TSXV GOT / WKN A2P063) is reporting significantly higher values in the first drill hole of 2024 on its Surebet discovery. 35.04 g/t gold equivalent (34.16 g/t gold and 17.11 g/t silver) over an interval of 6.34 meters ~true width, that is more than 1 ounce!

Something similar was almost to be expected, as Goliath had already observed abundant visible gold in this drill hole (GD-24-235). Incidentally, the entire mineralized interval is even longer and still returned an impressive 15.86 g/t gold equivalent over 11.9 metres (15.40 g/t gold and 17.11 g/t silver). This mineralization intercept corresponds to the Bonanza shear zone, one of a total of ten mineralized horizons that Goliath has identified to date within the Surebet discovery.

GD-24-235 represents a significant step-out along the same Bonanza shear/vein from a GD-23-197 drilled last year that assayed 34.03 g/t AuEq or 1.09 oz/t AuEq (32.55 g/t Au and 65.71 g/t Ag) over 9 meters ~true width, within 14.83 g/t AuEq (14.17 g/t Au and 29.13 g/t Ag) over 21 meters; and within 11.60 g/t AuEq (11.07 g/t Au and 23 g/t Ag) over 27 meters.

Further sections with visible gold at depth:

The analysis results for a section of 24.4 meters, a porphyritic intrusion between 529.29 and 553.67 meters downhole depth, are still pending. Here, too, the company has already identified veins with numerous patches of visible gold, molybdenite up to 2 mm in size and bismuth. According to Goliath, these are indications that they are proximal to the source that feeds the high-grade Surebet system!

As if that were not enough, the assay results are also pending for a 10-meter-thick section between 550 and 650 meters drilling depth, which is hosted in andesite in a series of closely spaced quartz-sulfide veins. Here, too, visible gold can be observed in large quantities of visible gold as well as up to 30% pyrrhotite, 3% chalcopyrite, 1% sphalerite, and 1% pyrite.

Increasing evidence of nearby, high-grade source of gold mineralization!

The aforementioned 11.9 meter drill intercept of 15.86 g/t gold equivalent lies between 445 – 457 meters downhole. The oriented core confirms the near true thickness of the mineralized vein widths, several large quartz-sulphide veins corresponding to the Bonanza Shear Zone, located just below the contact between the Upper Hazelton sedimentary units and the Lower Hazelton volcanic units, containing abundant visible gold, up to 2% sphalerite, 1% galena, 1% chalcopyrite, 2% pyrrhotite and 3% pyrite.

The increasing proportion of coarse gold and non-ferrous components observed at depth indicates stronger mineralization in deeper parts of the system, according to Goliath, as drilling is now beginning to penetrate into areas below the valley floor. This too, according to Goliath, indicates that they are getting closer to the source of this gold mineralization system! At least, the company believes it has now reached the upper part of this source.

Conclusion: Goliath encountered gold mineralization of impressive grades and widths in the very first hole of the 2024 program. The spectacular values also come from only one of three intercepts in this hole where visible gold was observed, so further strong results are to be expected! Importantly, there are further signs that Goliath is getting closer to the source of Surebet’s high-grade gold mineralization system. Should this source be further confirmed, we believe this would be a breakthrough for the company. We are now looking forward to the further results from GD-24-235 but also from the other drilling the company has done and will do – on Surebet and on other new gold and copper targets on the Golddigger project!