Significant new gold-rich zone identified
44 of the 124 holes (35%) drilled at Goliath Resources’ (WKN A2P063 / TSXV GOT) Golddigger project in 2023 intersected visible gold. And with the very first drill hole of 2024, CEO Roger Rosmus’ company can continue this impressive run of success!
As Goliath has just announced, drill hole GD-24-235 discovered a new zone of mineralization at depth, which has been named the “Mothership Feeder Zone”. According to the company, this zone showed numerous particles of visible gold and strong sulphide mineralization in quartz breccias at a drill hole depth of 648 metres (125 metres above the valley floor).
In addition, a 24.4 meters thick porphyritic intrusion was discovered between 529.29 and 553.67 meters downhole. This contains veins with abundant visible gold, molybdenite of up to 2 mm in size and bismuth. This, says Goliath, increases confidence that they are approaching the source that feeds the high-grade Surebet gold system!
Overview of the Surebet discovery mineralization zones; Source: Goliath Resources
This means that the first drill hole of the new program has also shown the potential for further discoveries in the course of the work that has just begun. Goliath is already in the process of investigating the newly discovered zone in more detail. Several drill holes are planned to penetrate to greater depths. This includes a 900-meter-deep hole that is already being drilled.
As Goliath further explains, GD-24-235 is the first drill hole of 2024 to show numerous strongly mineralized veins with visible gold, galena, sphalerite, pyrrhotite and pyrite mineralization in both sedimentary and volcanic rock units.
Goliath has targeted the Bonanza shear zone and the underlying volcanic rocks with the drill hole reported today. There, 9 meters of 34.03 g/t gold equivalent (32.55 g/t gold and 65.71 g/t silver) were encountered last year in hole GD-23-197. And according to the company, the mineralization observed in hole GD-24-235 between 445.4 and 447.39 metres depth is similar to that intersected in GD-23-197 between 449.37 and 458.40 metres downhole. This indicates that similar grades can be expected from the new mineralized section – even if the analysis is still pending!
Comparison of mineralization of GD-24-235 and GD-23-197; Source: Goliath Resources
Goliath’s current drilling program is designed to locate the possible suspected source of all the high-grade gold drilled to date at the Surebet discovery. At the same time, new additional veins or shear zones are to be discovered and the ten veins already known to be extended. In addition, the aim of the drilling is to improve the continuity of the veins and shears.
Dr. Quinton Hennigh, renowned geologist as well as Technical and Geological director of Goliath’s strategic shareholder Crescat Capital, recently explained why he believes this summer should be full of discoveries for the company. The expert points out that Goliath is still committed to testing new ideas and targets and has so far achieved consistently ever better results from Surebet and other targets on the Golddigger project. And already in the first week of the new drill program, the company appears to have discovered a significant new gold-rich zone that may also represent part of the source from which Surebet and similar structures received their mineralization. The numerous particles of visible gold, Dr. Hennigh continued, are cause for great excitement, especially considering that the mineralization could be spatially associated with a potentially causative intrusion!
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