Goliath Resources: Best drill program at Golddigger, yet!

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

As a result, analytical results from a staggering 105 drill holes are now pending! This includes 62 of the holes drilled this year as well as 17 previous holes of RIRG-style (Reduced Intrusion Related Gold) mineralization in veins and 14 additional separate holes drilled between 2021 and 2023 on the Surebet discovery area that are being re-logged. Results from 12 holes drilled this year at Treasure Island are also pending.

Spectacular: 100% hit rate of mineralization in all holes drilled in 2024 at Surebet, with 59 of 62 (or 92%) (!) had visible gold, of which 19 (32%) had abundant visible gold in numerous occurrences (more than four).

Bonanza High Grade Gold Triangle

Goliath has also delineated the Bonanza High-Grade Gold Triangle during the 2024 season which still remains open. This is a zone of substantial gold and sulphide mineralization at the structural intersection of the Surebet and Bonanza zones in the shape of a 720 x 612 x 410 metre triangle. It has tested the continuity of this broad, high-grade gold horizon with 19 holes. Previously assayed hole GD-24-197 returned 34.03 g/t gold equivalent over 9 meters, while GD-24-235 returned 35.04 g/t gold equivalent over 5.25 meters. Accordingly, results of 17 drill holes from within the triangle are still pending.

In addition, Goliath Resources made another discovery with the drilling in 2024, which was christened 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-sulphide veins and breccias with visible gold, chalcopyrite, galena and sphalerite, which, according to the company, illustrates the enormous additional untapped discovery potential of the Surebet system, which in turn remains wide open in every direction, including to depth.

The Deep Zone also contains the deepest intercept of mineralization drilled to date at a depth of 890 metres (1.239 kilometers below surface). This is a 1.75 meter long interval from 890.90 to 892.65 meters with quartz veins containing visible gold and significant amounts of chalcopyrite, galena and sphalerite that remain wide open. Assay results for all drilled intersections of the new Deep Zone are pending.

Reduced Intrusion Related Gold (RIRG)

A well, Goliath has identified significant amounts of visible gold, bismuth mineralization and molybdenite in veins hosted in intermediate porphyry rocks in several drill holes. Re-surveying and sampling of veins in drill core from 2021-2023 included 17 drill holes totaling more than 800 samples submitted for assay.

The new Blue Origin discovery comprises a series of veins up to 20 cm wide containing bismuth minerals, molybdenite and chalcopyrite hosted in a felsic intrusion 4.5 kilometers south of the Surebet discovery. This intrusion may be spatially related to Surebet as it is an uplifted part of the potential feeder source below the 1.8 km2 area that remains open.

Goliath expands land package by 28% based on promising data

Due to the newly discovered visible gold, bismuth minerals and felsic to intermediate porphyry dykes at Surebet, as well as intrusions surrounding 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 (plus 28%) to include ground amenable to this style of mineralization. Results from all 24 drill holes containing mineralized veins and all surface samples from Blue Origin are pending.

As if that were not enough, in the 2024 exploration season, the company also identified the Jackpot outcrop 1.4 kilometers from the original Surebet discovery, where, among other things, a 7 mm gold nugget was taken from a vein in which 667.40 g/t gold equivalent had previously been detected. Six holes have been drilled here and results are pending.

Last but not least, the current year also saw the discovery of Treasure Island with channel samples returning up to 28.08 g/t gold and grab samples returning up to 11.08 g/t gold equivalent. Here, Goliath has drilled 12 holes from 4 pads over 450 metres of strike length. Based on the best hole from each pad, mineralization was intersected over an average of 29.99 metres in width, including on average 6.79 metres of moderate, semi-massive and massive sulphide mineralization.

The strong sulphide mineralization found in the drill holes is comparable to that observed in a surface channel intersection that returned 28.08 g/t gold equivalent over 0.85 metres. Again, results from the 12 holes drilled are pending.