Still enormous, untapped expansion potential
Canadian gold explorer Goliath Resources (TSXV GOT / WKN A2P063), which loyal Goldinvest.de readers have known about for years, has become one of the industry’s high-flyers in recent weeks. Rising gold prices, repeated support from major investors and, not least, repeated strong drill results have recently taken Goliath to a five-year high.
Once again, Goliath has presented assay results from drilling at its Surebet discovery that would make many other explorers lick their fingers! Founder & CEO Roger Rosmus’ company encountered numerous intersections of stacked veins in the now-reported drill holes, dating from 2024, that intersected high-grade gold mineralization of up to 10.91 g/t gold equivalent (AuEq) (10.53 g/t Au and 22.83 g/t Ag) over 10.00 metres, including 15.51 g/t AuEq (14.99 g/t Au and 31.10 g/t Ag) over 7.00 metres, in the Surebet and Bonanza zones.
Not only that, Goliath also reported similar mineralization intercepts from two new stacked gold mineralized veins. Once again, the company is demonstrating the consistently high grades and thicknesses of the Surebet Zone gold mineralization layers, which are now stacked vertically over 1.2 kilometers and cover an area of 1.8 square kilometers. And the Surebet discovery, according to Goliath Resources, remains wide open for growth…
100% hit rate and enormous expansion potential
The company has now proven gold mineralization in all 243 drill holes encompassing 300 pierce points, some of which are widely spaced. In this 1.8 km2 area, Goliath has identified eight known and seven new stacked gold veins and confirmed them with drill results. The confirmation of multiple stacked gold veins and widespread gold-rich reduced intrusive veins assaying up to 12.03 AuEq over 10 meters within the area to depths of up to >1.2 km, which remain open both laterally and at depth, confirms the continuity of Surebet’s widths and grades and demonstrates that this world-class gold system has tremendous additional untapped expansion potential!
Incidentally, Goliath achieved all of this within a net period of just 15 months – the time that could actually be spent on the project due to prevailing weather conditions. Above all, the continuity and predictability of the extensive mineralization system was demonstrated. In particular, the confirmation of high gold grades in the recently discovered RIRG (Reduced Intrusion Related Gold) system with significant amounts of visible gold, bismuth and molybdenum mineralization assaying up to 12.03 AuEq over 10 meters could significantly increase the size potential of the Surebet discovery, according to Goliath.
In addition to the consistently excellent drill results, Goliath Resources has already carried out initial metallurgical tests on Surebet material. Because without an economic recovery rate, the highest gold grades are of little use. And here, too, success has been reported, with exceptional gold recovery rates of 92.2% achieved in the tests with the aid of gravity separation and flotation of which 48.8% is free gold from gravity alone (no deleterious elements).
Results of 77 drill holes are still pending
Compilation, interpretation and modeling of assays for an additional 77 holes is underway and Goliath will release further assay results shortly: from 39 holes drilled in 2024 (33 with visible, abundant visible gold and/or coarse-grained visible gold), 12 holes drilled in 2021-2023 into the reduced intrusive veins (five with visible, abundant visible gold and/or coarse-grained visible gold), 14 from resurveyed shoulders from 2021-2023 (three have visible and/or abundant visible gold), and 12 from VMS-style mineralization at Treasure Island, 40 kilometers north of the Surebet discovery.
This year, Goliath Resources will now focus on expanding the 1.2 vertical kilometers of stacked layers of high-grade gold mineralization over an area of 1.8 sqkm, which remains open in all directions, laterally and at depth. In addition, the RIRG system, which is thought to be at depth and which Goliath geologists believe to be the source of the massive, high-grade Surebet discovery, will also be tested further!
According to the company, the phase of high-risk exploration has been left behind with the drilling in 2024. According to Goliath Resources, the work and drilling planned for 2025 represents the start of a low-risk expansion phase. The “only thing” left seems to be to find out how big the Surebet discovery can grow.
Source: Goliath Resources
The detailed results of the latest drilling presented by Goliath Resources can be found in the company’s press release
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