92% of Drillings Showed Visible Gold in 2024!

After Goliath Resources (WKN A2P063 / TSXV GOT) recently completed a financing round of more than CAD 16 million with participation from several big names in the mining industry, the gold explorer now also announces the completion of its 2024 drilling program on the extremely exciting Golddigger project. Goliath completed 38,125 drill meters this season, while originally only 16,000 drill meters were planned. Given the numerous promising results and observations, it’s no wonder that CEO Roger Rosmus’s company has so dramatically increased the pace!

In total, the results of an impressive 105 drill holes are now pending! This includes 62 of this year’s drillings as well as 17 previous drill holes with RIRG-like (Reduced Intrusion Related Gold) mineralization in veins and 14 additional separate drill holes that were drilled between 2021 and 2023 in the area of the Surebet discovery and are now being re-examined. The results of 12 drill holes drilled on Treasure Island this year are also still pending.

Spectacular: 59 or 92% (!) of the drillings conducted in 2024 showed visible Gold, of which 19 (32%) even showed visible gold in numerous places (more than four).

Bonanza High Grade Gold Triangle

During the 2024 season, Goliath defined the so-called Bonanza High-Grade Gold Triangle, among other things. This is a zone of substantial gold and sulfide mineralization at the structural intersection of the Surebet zone with the Bonanza zone in the shape of a triangle measuring 720 x 612 x 410 meters.

The company has investigated the continuity of this broad, high-grade gold horizon with 19 drill holes. The already analyzed drill hole GD-24-197 yielded 34.03 g/t gold equivalent over 9 meters, while GD-24-235 showed 35.04 g/t gold equivalent over 5.25 meters. Accordingly, the results of 17 drill holes from the triangle are still pending.

In addition, Goliath Resources made another discovery with the 2024 drillings, which they named the Deep Zone. No wonder, as this zone is located at a depth of 1,239 meters below the surface. The Deep Zone contains multiple quartz-sulfide veins and breccias with visible gold, chalcopyrite, galena, and sphalerite, which, according to the company, illustrates the enormous additional, yet untapped discovery potential of the Surebet system, which remains open in every direction, including depth.

The Deep Zone also contains the deepest mineralized intersection drilled to date at a depth of 890 meters (1,239 kilometers below the surface). This is a 1.75-meter long section from 890.90 to 892.65 meters with quartz veins containing visible gold as well as significant amounts of chalcopyrite, galena, and sphalerite, and remains wide open. Assay results for all drilled sections of the new Deep Zone are still pending.

Reduced Intrusion Related Gold (RIRG)

Additionally, Goliath has identified significant amounts of visible gold, bismuth mineralization, and molybdenite in veins located in intermediate porphyritic rock layers in several drill holes. The re-measurement and sampling of the ore veins in drill cores from 2021-2023 included 17 drill holes with a total of more than 800 samples submitted for analysis. The new Blue Origin discovery comprises a series of veins up to 20 cm wide containing bismuth minerals, molybdenite, and chalcopyrite, located in a felsic intrusion 4.5 kilometers south of the Surebet discovery. This intrusion could be spatially related to Surebet, as it is an uplifted part of the potential feeder source below the 1.8 km2 area that is still open.

Goliath Expands Land Package by 28% Due to Promising Data

Due to the newly discovered visible gold, bismuth minerals, and felsic to intermediate porphyritic dikes on Surebet, as well as the intrusions in the vicinity of Surebet (i.e., Blue Origin) that strongly resemble a Reduced Intrusion-Related Gold System (RIRG), the company has expanded its 100% controlled land package from 66,000 ha to 91,518 ha (28% more) to include open terrain suitable for this type of mineralization.

The results of all 24 drill holes containing mineralized rock veins, as well as all surface samples from Blue Origin, are still pending.

But that’s not all: during the 2024 exploration season, the company also identified the Jackpot outcrop 1.4 kilometers away from the original Surebet discovery, where among other things, a 7 mm gold nugget was extracted – from a vein where 667.40 g/t gold equivalent had previously been detected. Six drill holes were completed here, with results still pending.

Last but not least, this year also saw the discovery of Treasure Island with channel samples yielding up to 28.08 g/t gold and grab samples producing up to 11.08 g/t gold equivalent. Here, Goliath has drilled over a strike length of 450 meters, demonstrating mineralized sections averaging 29.99 meters in thickness, containing an average of 6.79 meters of moderate, semi-massive, and massive sulfide mineralization.

What’s exciting is that the strong sulfide mineralization found in the drill holes is comparable to that observed in a surface channel cut, which showed up to 28.08 g/t gold equivalent over 0.85 meters. Here too, the results of the 12 completed drill holes are still pending.

Conclusion: In our view, it appears that the 2024 drilling program will be the most successful to date on the Golddigger Project. This is saying something, given the successes of the past. Particularly noteworthy is the high percentage of visible gold and/or abundant visible gold in this year’s drill cores, as well as the fact that a new high-grade area has been defined where the Bonanza Shear Zone and the Surebet Zone appear to meet. This seems to be high-grade gold mineralization zones with exceptionally abundant visible gold over a large area, now referred to as the Bonanza High Grade Gold Triangle. And of course, Goliath was able to demonstrate a whole series of overlapping zones with impressive continuity, predictability, and widespread distribution of visible gold at the Surebet discovery, as well as drill several regional exploration targets. Overall, according to CEO Rosmus, a “dynamic, long-lived, high-performance mineralization system with multiple events at depth” is emerging, which furthermore remains open. So the more Goliath drills, the larger the system has become so far. For now, we are extremely excited about the numerous drill results expected in the coming weeks and months!