{kanada_flagge}The newly discovered Surebet Zone gold system is once again proving that its name is well deserved. Goliath Resources (TSX-V: GOT; OTCQB: GOTRF; FRA: B4IF) has found significant gold-silver intercepts in 16 more holes, confirming its record hit rate at its Golddigger project in British Columbia’s Golden Triangle.
{kanada_flagge}The newly discovered Surebet Zone gold system is once again proving that its name is well deserved. Goliath Resources (TSX-V: GOT; OTCQB: GOTRF; FRA: B4IF) has found significant gold-silver intercepts in 16 more holes, confirming its record hit rate at its Golddigger project in British Columbia’s Golden Triangle.
The latest results are from the second of three lots drilled during the past drill season. To date, this brings the total to 68 holes drilled within the 1.6 square kilometer Surebet area from 2021 and 2022. Only two wells have not intersected the Surebet zone. This brings the hit rate to date to 97 percent. A further 27 drill results from the third batch are still pending.
Assays have reconfirmed that the Surebet zone extends over at least 1.6 square kilometers and remains open. Based on the 2021 and 2022 drilling evaluated to date, the weighted average width of the Surebet Zone is now 5.33 metres and the weighted average grade of the Surebet Zone is 5.97 g/t gold equivalent.
The remaining drill holes from the third batch are from Pads 5, 7, 12, 13, Real Deal, West of N.E. Fault and G could again extend the footprint of the Surebet Zone to the south and east. (see map)
Figure 1: Outlined in red are the five drill pads of the 16 holes from the second batch. Outlined in blue are the seven drill pads from which an additional 27 drill results are expected to be reported shortly.
Highlights of the latest results from the 2022 drilling campaign include hole GD-22-80, drilled from Pad 3 (1000 meters west of Surebet Main). This hole returned 117.21 gpt AuEq (115.00 gpt Au and 28.50 gpt Ag) over one metre, the highest gold mineralization ever recorded at Surebet. The high grade intercept is within 5 meters of 24.64 gpt AuEq (23.17 gpt Au and 6.32 gpt Ag). Hole GD-22-70, drilled from Pad 8 (750 metres west of Surebet Main), returned high grade gold mineralization of 41.85 gpt AuEq (37.03 gpt Au and 195.37 gpt Ag) over 2. 02 metres within 14.66 gpt AuEq (12.93 gpt Au and 69.00 gpt Ag) over 6.00 metres.
Roger Rosmus, founder and CEO of Goliath Resources, stated, “The assays demonstrate the incredible continuity of the Surebet discovery, which also has excellent metallurgy with a gold recovery of 98.2%. This is an exceptional result for a young discovery that has progressed at an incredible pace considering that the first exploration drill program began just over a year ago in the summer of 2021 and the total field time to date on the Surebet discovery is only 6 months for 2021 and 2022 combined. Based on the promising grade and geometry results, this discovery is rapidly becoming a new world-class high-grade gold discovery.”
Based on its data, Goliath recently more than doubled its land package from 23,859 hectares to 52,756 hectares. The newly staked properties extend 56 kilometers along the so-called red line and offer tremendous additional discovery potential in extensive areas of newly uncovered deposits created by the recent permanent snow and glacier melt. The red line marks the contact between the Stuhini Group rocks and the Hazelton Group, which is believed to be a key marker where most of the world-class multi-million ounce Golden Triangle deposits are located within ~2 km. The geological team is confident that the new concessions have excellent potential to continue to add value to the Company in the future.
Exploration plans for 2023
Based on the data collected and the increased understanding of the Surebet discovery and the surrounding extensive mineralized system, the Company plans targeted exploration and prospecting work focused on generating potential future drill targets in the source area of a 509 ppb Au state stream sediment sample (99th percentile) collected just 4 km south of Surebet in the stream that drains from the south slope of the ridge immediately south of Surebet and is believed to be part of the same extensive gold mineralized system. This area is referred to as the “ace in the hole” and is an area of very large gold discovery potential within the same geologic domain that has the same lithology and initial geochemistry as at Surebet.
Conclusion: Goliath’s Golddigger project now covers the huge area of 520 km². Compared to this, the successful Surebet zone, with its current extent of 1.6 km², is just the size of a postage stamp. However, Surebet is growing extremely fast and reliably and predictably delivering high-grade results. Rarely is an early-stage discovery likely to have advanced in less time than in this case. So far, Goliath only hints at the huge regional potential: There could easily be several more Surebet-style mineralization systems within the Golddigger project. Their search is just beginning. In any case, the geological address is right.
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