The real potential of the project could lie at depth just below the valley floor.
Goliath Resources (TSXV: GOT, FRA: B4IF) is once again pushing the envelope with this year’s drilling campaign at its Golddigger property in Golden Triangle, B.C. Geologists believe that the Surebet discovery itself is just the proverbial tip of the iceberg. The real potential of the project could lie at depth just below the valley floor. This is supported by the increase in coarser visible gold and base metal components observed with increasing depth in recent drilling (GD-24-235 and currently GD-24-244). The findings indicate stronger mineralization in deeper parts of the system once drilling extends beyond the valley floor. Geologists suspect that the drilling is approaching the heat source responsible for the precious and base metal mineralization observed at Surebet (see Figure 1).
Roger Rosmus, CEO of Goliath Resources, commented: “Drilling has only just begun to scratch the surface and there is excellent potential for further discoveries as we venture deeper into the valley floor and beyond. Due to the topography of the Surebet discovery and the fact that the majority of drilling has been conducted on the slope of the mountain, none of the holes completed to date have been drilled deeper than the valley floor where the Surebet system remains open.”
100% of the first 8 holes drilled to date during the 2024 drilling season have intersected continuous strong mineralization in the targeted veins. This includes mineralization suggesting that drilling has tapped the heat source of the gold mineralization system at the Surebet discovery. Abundant visible gold up to 1.30 mm in size has been identified in multiple intercepts in 6 of the first 8 holes drilled in 2024, representing 75% of the holes drilled to date. Most of the abundant visible gold from these holes is located further down plunge in volcanic rocks and gold mineralization remains open in all directions. Mineralization consists of abundant visible gold, galena, sphalerite, chalcopyrite and other sulphides hosted in breccias, stockwork and/or veins. This system is still wide open for further discoveries. 44 holes (or 35%) of 124 holes drilled in 2023 contained visible gold with nuggets up to 11 mm in size.
GD-24-235, drilled from the Golden Gate pad and previously reported, intersected abundant visible gold up to 1.30 mm in size and sulphide mineralization in shear zones occurring in both the sedimentary and volcanic units. This hole returned 15.86 g/t AuEq (15.40 g/t Au and 17.11 g/t Ag) over 11.9 meters (true width), including 35.04 g/t AuEq (34.16 g/t Au and 34.15 g/t Ag) over 5.24 meters (true width) (updated section), and corresponds to the Bonanza Shear (444.3 – 452.9 meters downhole). Assays are pending on a 24.4 meter intercept of a porphyritic intrusion with abundant visible gold, molybdenite up to 2 mm in size and bismuth between 529.29 and 553.67 meters downhole, interpreted as the Mothership Feeder Zone. As well, assays are also pending on a 10 meter interval between 550 and 650 meters downhole that is hosted within the andesite (volcanics) with abundant visible gold, up to 30 % pyrrhotite, 3 % chalcopyrite, 1 % sphalerite, and 1 % pyrite interpreted as the Golden Gate Zone.
Drill hole GD-24-244 (in progress) also intersected visible gold within an interval of strong quartz-sulphide mineralization at 700 metres downhole depth hosted in volcanic rocks. This is the deepest occurrence of visible gold and sulphide mineralization downhole recorded to date on the Surebet discovery and confirms the enormous additional discovery potential at depth below the valley floor where the system remains wide open.
It is important to note that the gold zones begin at the top of the mountain where there is an extremely large outcrop with 700 meters of vertical relief. The gold zones exposed at surface extend for 1 km on the south slope and 1.1 km on the north slope and appear to have the potential to extend to the valley floor and beyond. The gold zones could be easily accessed through a series of portals and underground workings to accurately target the gold zones in a potential mining scenario.
To date, 10 mineralized veins have been delineated in the Hazelton sedimentary unit and underlying Hazelton volcanic rocks, with additional (or further) mineralization discovered at drill depth along trend deeper in the mountain. Promising results from the 2024 drilling campaign have intersected a new zone that may represent the top of the heat source. An impressive vertical trend of visible gold has been identified in the drill core (see Figure 1). The highest gold zones are fine-grained, sporadically visible gold. In the deeper zones downhole there is a transition to abundant visible gold that are coarser-grained.
The drill plan for 2024 will focus on securing the continuity of the 10 known mineralized veins, including Surebet, Bonanza, Goldzilla and Golden Gate, and extending them in all directions, which will allow the Company to better understand the size and grade distribution of this system, which remains wide open. To date, 66,930 meters have been drilled on the Golddigger property (2021 – 2023). The Golddigger property has 199 drill holes permitted through 2029.
Conclusion: Goliath Resource could live up to its name in a way that even the founder probably did not think possible when the company was originally christened. The latest observations point to enormous additional discovery potential at depth below the valley floor. If this potential is even remotely confirmed, the upcoming discovery could far trump all previous drillings in Goliath’s success story. Goliath could prove to be a giant among giants.
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