In cooperation with Goliath Resources (TSX-V: GOT, FSE: B4IF), the Colorado School of Mines has completed a study on the ore formation process at the Surebet zone of the Golddigger project based on available drill data and drill core. As a result of this study, a new ore formation process has been discovered at Surebet and possibly also for other projects in the region never documented before now. This assumption leads to the expectation that the high-grade gold mineralization is fed by a young (Eocene) Reduced Intrusion Related Gold (RIRG) source. This new information will assist greatly in narrowing in and locating the main source heat engine which opens up largely untapped discovery potential.
Understanding gold systems is sometimes reminiscent of solving a puzzle. Some are very easy and therefore quick to solve, others require more effort to solve and are therefore requires a little more time. The Surebet gold system on the Golddigger property in the Golden Triangle in the Canadian province of British Columbia undoubtedly belongs to the second category.
For Goliath Resources and its shareholders this is cause for celebration, as the new study by the Colorado School of Mines confirms that Surebet was formed by a young, reduced intrusion related gold system (RIRG) never documented before. The company has not yet discovered the source in its drilling as yet, however these dykes carrying RIRG are most likely connected that should lead to the Motherlode RIRG feeder source. The potential for the future at this point is correspondingly large.
One of the key conclusions from this insight is that there must be a common source for the gold found by Goliath Resources in both formations. The company has not yet discovered this source in its drilling. For invested shareholders and all investors interested in Goliath, this is a very significant statement, as it suggests that despite the sensational gold finds of the past two years, the jackpot has still not been cracked. Accordingly, the potential that emerges here for the future is enormous.
Huge discovery potential lies ahead for Goliath Resources
Let us therefore delve a little deeper and more precisely into the geological details: the high-grade gold mineralization at Surebet occurs in two different temperatures (hotter & cooler magma). Both contain remarkably high proportions of visible gold. This is fine to coarse grained with both the grain size and abundance increasing with the hotter magma gold combined with the cooler magma gold.
This observation is consistent with the assessment that the gold system becomes richer with increasing drilling closer to the source and that both types of high-grade gold mineralization are currently still open in all directions. The shear zones are anything but small. Goliath has intersected veins up to 39 meters wide in its drilling. The gold occurred as solid gold or in alloys with bismuth and tellurium in quartz-sulphide veins. In addition, quartz veins several millimetres to centimetres wide were identified in which the gold occurs together with bismuth, tellurium and molybdenite in felsic to intermediate dykes.
Gold from different periods of the earth’s development
The studies conducted by the Colorado School of Mines determined that the volcanic-hosted gold mineralization in the shear-hosted veins has an age of 50.7 million years, assuming a deviation of plus or minus one million years. This result overlaps with the uranium-lead-zircon age of 52.0 million years (± 1.5 million years tolerance) determined for the mineralized felsic to intermediate dykes. The fact that both the shear zone-bounded gold-rich veins and the gold-bearing dykes have relatively similar ages indicates that a common intrusion can be addressed as the source and cause of mineralization.
However, most of the known deposits in the Golden Triangle do not date from the Eocene (56 to 34 million years) like the current discoveries at Surebet, but from the much older Jurassic (201 to 145 million years). Goliath’s spectacular drilling successes of 34.52 g/t gold equivalent over 39.0 metres in the gold mineralized shear-hosted veins within the sedimentary and volcanic rocks and up to 12.03 g/t gold equivalent in the reduced porphyry felsic to intermediate feeder veins therefore demonstrate not only to the company’s shareholders, but basically to the entire industry, that the rich Eocene mineralization has been more or less overlooked in the exploration of the Golden Triangle in the past.
At Surebet, the first phase of gold mineralization resulted in the deposition of native bismuth, bismuth tellurides and the gold-bismuth mineral maldonite. It is associated with calcium silicate alteration including actinolite. This early mineralization occurs primarily in quartz veins that cut the gold-bearing dykes and volcanic rocks. The later enrichment of gold mineralization cuts through the early phase. It is associated with chlorite alteration. Whereby the late phase of gold mineralization accounts for most of the gold observed to date in the shear-zoned veins.
A major task with enormous potential lies ahead for Goliath Resources
Studies such as those conducted by the Colorado School of Mines cost time and money. But it is time well spent if it subsequently contributes to a deeper geological understanding and a clearer grasp of the special features of the system. Goliath Resources has taken precisely these essential steps in recent months. The year 2024 was an extremely important milestone with the discovery of visible gold in 92% of all drill holes, as well as discovering the feeder dykes contain high-grade gold over minable widths.
The RIRG within the dykes have enriched the entire system of stacked veins; essentially the gold comes from a common intrusive source first passing through the dykes pathways and then feeding/creating the stacked mineralized veins. Finding the Motherlode feeder source will be one of Goliath Resources’ focuses in this year’s drill campaign. Goldinvest will stay on the ball for you and we would not be surprised if Goliath does hit this geological Motherlode feeder source in the coming months.
