{kanada_flagge}Goliath Resources Limited (TSX-V: GOT; OTCQB: GOTRF; FSE: B4IF) has encountered visible gold at a depth of 33.12 meters in the first hole of the 2023 drill season at its Golddigger project in the Golden Triangle, British Columbia!
{kanada_flagge}Goliath Resources Limited (TSX-V: GOT; OTCQB: GOTRF; FSE: B4IF) has encountered visible gold at a depth of 33.12 meters in the first hole of the 2023 drill season at its Golddigger project in the Golden Triangle, British Columbia!
The step-out hole is located on the Eastern Extension of the Surebet discovery in what is known as the Golden Gate Feeder Zone. The hole is approximately 250 metres from hole GD-22-49 hole drilled in 2022 from Pad A, which also contained visible gold at a depth of 116.50 meters. GD-22-49 is also located in the Golden Gate Feeder Zone resulting in a 166 AuEqgm value intersecting 21.30 gpt AuEq (20.46 gpt Au and 40.06 gpt Ag) over 7.77 meters, including 27.55 gpt AuEq (26.47 gpt Au and 51.55 gpt Ag) over 6.00 meters (see Figure 1). The Golden Gate Feeder Zone is characterized by high-grade and wide intercepts of gold mineralization where several structures meet that act as potential fluid conduits. The presence of visible gold strongly indicates the potential for very high-grade gold intercepts.
Goliath has commenced an aggressive drilling program this year totaling 70 drill holes from 21 separate drill fields on the Golddigger property. The campaign is focused on higher grade zones and extending the footprint of the newly discovered Surebet Zone and Bonanza Shear to the east-southeast-northeast and at depth. This year’s campaign includes a maiden drill program planned for the newly discovered Goldswarm zone, located 4 km along strike to the north of the Surebet Zone, with similar mineralization and structures exposed at surface, where channel intersections have encountered up to 29.70 g/t Au over 0.55 metres, 25.1 g/t Au over 0.40 metres and up to 54.3 g/t Au, offering tremendous upside potential for a new drill discovery in 2023.
Figure 1: Surebet and its extension into the Golden Gate Feeder Zone. The 2022 and 2021 season drilling is highlighted in blue and pink. The current season’s drilling is shown in red.
Roger Rosmus, Founder and CEO of Goliath Resources, stated, “The mineralization confirmed in GD-23-111 strongly suggests the presence of a large mineralized system and potential feeder source at the Golden Gate Feeder Zone. The planned ~18,000 meter drill program is designed to extend the extent of the Surebet zone and Bonanza shear in all directions and includes an initial drill program at the newly discovered high-grade gold-silver Goldswarm zone, located 4 km north of Surebet and believed to be part of the same mineralized system that feeds Surebet. Surebet is emerging as the next major high-grade gold-silver discovery in the Golden Triangle, B.C.”
Hole GD-23-111, drilled from pad TS-1, intersected a 36.98 meterinterval of sulphide mineralization characterized by veins, stringers and patches of semi-massive pyrrhotite (up to 2%) with minor sphalerite (up to 1%) in quartz stockwork and breccias from 92.70 to 129.68 metres within sedimentary units. This section is followed by a second section of 44.32 meters* of altered andesite from 129.68 to 174.00 meters containing stringers and semi-massive patches of sulfides (mainly pyrrhotite up to 1% and sphalerite up to 1%). The main mineralized section is interpreted as a northeast extension of the Bonanza shear, which defines the contact between the sedimentary units and the underlying volcanic units.
Conclusion: the same rule applies to exploration projects as to real estate. Value is decided by: Location, location, location. Goliath has secured a 53 km section on both sides of the geologically productive “Red Line” on its Golddigger property. The “Red Line” is the structure along which most major projects in the Golden Triangle are located. Goliath’s exploration license covers 59,089 hectares. Most of it is still unexplored. Huge areas of newly exposed outcrops due to glacial melt offer excellent potential for new discoveries. Goliath is the first company to have access to these outcrops in this way. Already it is safe to say that the Surebet discovery will continue to grow this season. But it doesn’t take a crystal ball to predict that Surebet was just the first of many more discoveries on Golddigger. We are especially looking forward to the results of Goldswarm.
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