Goliath Resources Drills massive 132.93 g/t Gold over 10.00 Metres!

Goliath Resources (TSXV GOT / WKN A2P063) today presents the best drill hole drilled to date at its extraordinary Golddigger project in the Golden Triangle region of British Columbia. This hole, dating from last year’s drilling, intersected 34.52 g/t – more than an ounce – of gold equivalent over a length of 39 metres. And the highest grade interval of that intercept was a massive 132.93 g/t gold equivalent over 10.00 metres! With the other drill holes also intersecting high-grade gold mineralisation, further evidence was provided for the recently published massive expansion of the Bonanza Gold Zone.

Although the 2024 drilling season was extremely short for Goliath Resources, lasting only three months, 105 drill holes were completed. 89 of them are still in the laboratory for evaluation. However, the 16 drill cores that have already been evaluated make interesting reading, as Goliath has once again achieved great success. Last week, the company reported that the area of the bonanza high-grade gold zone had almost doubled as a result of the drilling. An area of 180,000 m² that was roughly triangular in shape was expanded to 341,000 m². However, the end of the line has not yet been reached, as the zone remains open in several directions.

The drill results presented this week not only confirm this huge expansion of the mineralised zone, but they also do so with a bang, because with GD-24-260, Goliath Resources drilled the best hole drilled to date at the Golddigger project last year. Over a length of 39 metres, 34.52 g/t gold equivalent was detected. At its peak, the gold content rose to 132.93 g/t over 10.00 metres. Within this zone, the gold equivalent content even increased to 166.04 g/t (165.84 g/t gold and 16.07 g/t silver) over 8.00 metres.

The laboratory results thus confirmed the visual findings that had already been made during the drilling, as the drill hole had the highest concentration of visible gold observed in the drill cores to date. Located just 200 metres below the high-grade Surebet Zone, the Bonanza Zone is also developing into a high-grade gold zone. In addition to gold, the mineralised rock also contains silver, bismuth and tellurium.

A systematic drill programme now is to confirm and expand on the successes of 2024

Against this outstanding background, the other results of the re-evaluated drilling seem a little ‘weak’ at first glance – although they are anything but! Many explorers would be happy if they could come up with drill results like these.

However, the overall findings are always more important than a single drill hole, and it is becoming increasingly clear that the significant increase in the size of the mineralised areas is based on very reliable assumptions. However, a systematic drill programme is now needed to confirm the expansion of the mineralised zones and provide more clarity about the structure of the veins and their sources. This also sets the direction for 2025, as Goliath’s geologists will now focus on designing this drilling programme and identifying the optimal locations for future drilling.

Goliath Resources Intersects Superimposed Veins in Succession of Drill Holes

In drill hole GD-24-275, Goliath Resources intersected two separate superimposed veins of high-grade gold, silver and base metals. These are characterised by sulphide-rich quartz breccias and are analogous to the mineralisation discovered in the Surebet and Bonanza zones. At the Surebet Zone, 5.00 g/t gold equivalent (4.88 g/t gold and 9.94 g/t silver) over 6.00 metres, including 6.67 g/t gold equivalent (6.60 g/t gold and 13.07 g/t silver) over 4.42 metres, were intersected. In the bonanza zone portion, 12.01 g/t gold equivalent (11.70 g/t gold and 25.66 g/t silver) over 11. 00 metres, including 16.48 g/t gold equivalent (16.05 g/t gold and 35.03 g/t silver) over 8.00 metres.

In hole GD-24-252, Goliath Resources intersected two additional separate, superimposed veins with high grades of gold, silver and base metals. They are part of the Bonanza and Golden Gate zones and contain sulfide-rich quartz breccias. In the area of the Bonanza zone, 5.25 g/t gold equivalent (5.13 g/t gold and 9.46 g/t silver) was intersected over a length of 10.97 metres. This included a higher-grade interval of 5.74 g/t gold equivalent (5.61 g/t gold and 10.23 g/t silver) over 8.95 metres. At the Golden Gate Zone, the drill intersected 5.00 metres of 3.99 g/t gold equivalent (3.94 g/t gold and 4.46 g/t silver). It is encouraging to see that both zones remain open.

Three separate stacked veins with high-grade gold, silver and base metals were intersected by drill hole GD-24-242. The mineralisation corresponds to the sulfide-rich quartz breccias of the Surebet, Bonanza and Golden Gate zones and is also still open. At the Surebet Zone, 5.08 g/t gold equivalent (4.99 g/t gold and 7.29 g/t silver) over
10.85 metres was intersected. This included a higher-grade interval of 8.41 g/t gold equivalent (8.26 g/t gold and 12.35 g/t silver) over 5.46 metres. Within the Bonanza zone, 2.11 g/t gold equivalent (2.09 g/t gold and 1.71 g/t silver) over 2.19 metres, within five metres of 1.11 g/t gold equivalent (1.10 g/t gold and 1.21 g/t silver). In the Golden Gate Zone area, this drill hole intersected an additional 5.56 g/t gold equivalent (5.26 g/t gold and 24.61 g/t silver) over 4.11 metres.

Excellent prospects for 2025

There are not many exploration companies that can show such spectacular and, above all, such continuous drill results as Goliath Resources. A total of 243 drill holes have been drilled and evaluated on Surebet to date. They intersected mineralised zones at a fantastic rate of 100 per cent, and 106 of them had coarse visible gold. Last year, this rate was particularly high, with 59 of 64 drill holes, or 92 per cent, returning visible gold.
So luck and chance can be ruled out. Instead, it must be noted and acknowledged that the ore bodies at the Golddigger project not only represent a world-class, high-grade gold discovery, but also prove to be highly continuous and highly predictable.

This should wet the appetite of any investor willing to take the risk of investing in the area of gold exploration, because of the 105 drill holes that have been drilled in recent weeks and months, only 16 have been evaluated so far. This means that the results of 85 per cent of all holes are still pending.