The decision made by Goliath Resources (WKN A2P063 / TSXV GOT) to re-log and assay numerous older drill cores as part of the 2025 exploration program, based on work completed and research completed by the Colorado School of Mines is proving to be more and more of a “great idea”. Because once again, the Canadian gold company is able to report and expand on additional high-grade mineralization from its Surebet discovery!
This time the focus was on drill hole GD-24-280, which returned 8.31 g/t gold over 23 meters, including 15.69 g/t gold over 11 meters and 37.45 g/t gold over four meters – and this in a third rock package within the high-grade Bonanza gold zone. Incidentally, Goliath had also drilled GD-24-260 there, which returned a strong 34.52 g/t AuEq over 39.00 meters, including 132.93 g/t AuEq (!) over 10 meters! And, today’s results so far only contain the gold values discovered. As soon as silver, copper, lead and zinc grades are available, these will be incorporated and a gold equivalent (AuEq) value calculated.
Goliath Resources highlights additional discovery potential for high-grade gold mineralization
As indicated above, the mineralization in GD-24-280 has been shown to be of a different nature compared to the mineralization typical of the Bonanza Zone. In this third rock package, it is characterized by broad, gold-rich intervals of strongly calc-silicate altered breccia with multiple instances of gold visible to the naked eye. Which, according to Goliath Resources, once again demonstrates the potential for further discoveries of high-grade gold mineralization in the Surebet discovery area!
The company considers the drill hole presented today to be a step-out hole located approximately 500 meters east of the previously reported drilling from the Bonanza Zone. These include:
- Drill hole GD-23-197, which yielded 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 thickness); as part of a section of 21 meters with 14.83 g/t AuEq (14.17 g/t Au and 29.13 g/t Ag); within 27 meters with 11.60 g/t AuEq (11.07 g/t Au and 23 g/t Ag and
- GD-24-235, which yielded 35.04 g/t AuEq (34.16 g/t Au and 34.15 g/t Ag) over 6.34 meters ~true thickness, within 15.86 g/t AuEq (15.40 g/t Au and 17.11 g/t Ag) over 11.9 meters (see press release dated July 20, 2024).
As a result, the Company has now discovered high-grade gold at Surebet in three distinctly different rock types at Surebet. These include gently dipping, gold-rich stacked veins, gold-rich intermediate to felsic Reduced Intrusive Related Gold (RIRG) near vertical Eocene-aged dykes and the newly discovered broad gold-rich zones of calc-silicate altered breccia.
And all of these rock packages contain substantial amounts of gold visible to the naked eye and are wide open for expansion. At the same time, Goliath Resources says, they all clearly confirm that a magmatic source (motherlode) is likely to be found at depth, acting as an intrusion responsible for the extensive, 1.8 square kilometer, high-grade Surebet gold system. All in all, an impressive set of targets that the company can tackle in 2025 with its drill program that was just expanded to 60,000 meters!
Further high-grade gold in re-tested drill holes
Recently, Goliath Resources confirmed numerous locations of visible gold in several additional drill holes from 2021 to 2024 that have not yet been assayed. Most recently, the company intersected 6.31 g/t AuEq over 14.35 meters with 11.36 g/t AuEq over 7.85 meters in a re-assayed hole (GD-22-64) from a gold-bearing RIRG vein.
The company is now awaiting results from six more drill holes with gold visible to the naked eye – both from RIRG veins and calc-silicate altered breccias as well as from the known layered veins.
Renowned expert Dr. Quinton Hennigh, geological and technical advisor to Crescat Capital, a strategic investor in Goliath, explains: “It is remarkable how the Surebet Gold System is revealing its secrets. Five years ago, the original target was the shallowly dipping, thick Surebet gold-quartz-sulphide vein. After several seasons of drilling, other similar shallow gold-quartz-sulfide veins were discovered beneath Surebet, including the remarkable high-grade Bonanza gold-quartz-sulfide vein. Just last year, the discovery of multiple near-vertical reduced intrusive dykes has added a new twist to the story, as these appear to host significant amounts of stockwork gold-quartz-sulfide mineralization and, more importantly, indicate a direct connection of the Surebet system to an intrusive gold source. Today’s discovery that significant high-grade gold mineralization occurs in calc-silicate rocks forming the thermal aureole around a deep intrusion further fuels speculation. It will be interesting to see where this natural progression of discoveries will take us.”
Mr. Rosmus, founder and CEO of Goliath Resources, is naturally also delighted with the exceptionally good new analytical results. This is because a new discovery of high-grade gold has been made, which is part of the Surebet area. He explained: “We have high-grade gold in gently dipping veins over 1.2 kilometers long, vertical RIRG veins that intersect the veins and which we now call “Goldilocks zones” because they contain high-grade gold in two temperature ranges. In several places the gently dipping veins and vertical RIRG veins intersect, giving us the potential for multiple Goldilocks zones. Now we can add a new discovery of high-grade gold in a third distinct rock package at Surebet.
Another important target for our 2025 drill campaign has emerged from the Colorado School of Mines detailed geological study, which is a magmatic gold source we call the Motherlode that is responsible for the gold mineralization in the three distinct rock packages. To better locate the magmatic source, we are using a combination of the depth of the RIRG veins and our previous geophysical surveys. This once again highlights the immense and untapped potential for further discoveries in the Surebet deposit.
Our geological team has already started the 2025 drilling campaign at full speed with the aim of drilling 60,000 meters. Eight drill rigs are currently in operation, with another due to arrive shortly. We have many people to thank for the success of the high-grade gold discovery at Surebet, including our shareholders, our geological team, the Colorado School of Mines for their excellent research work, our drill teams and many others. We have never started the drilling season with so much geologic data, which puts us in an excellent position for our best drilling season to date at Surebet.”
