{kanada_flagge}In 2021 and 2022, gold explorer Goliath Resources (WKN A2P063 / TSX.V: GOT) drilled a total of 92 holes at its Golddigger project in British Columbia, focusing primarily on the Surebet discovery. Goliath encountered gold-bearing mineralization in 89 of these holes, giving CEO Roger Rosmus’ company a very respectable hit rate of approximately 97%. Thus, two aggressive drilling seasons were enough to suggest the world-class format of a potential deposit that was previously totally unknown! Now the company presents further important information about Surebet.
{kanada_flagge}In 2021 and 2022, gold explorer Goliath Resources (WKN A2P063 / TSX.V: GOT) drilled a total of 92 holes at its Golddigger project in British Columbia, focusing primarily on the Surebet discovery. Goliath encountered gold-bearing mineralization in 89 of these holes, giving CEO Roger Rosmus’ company a very respectable hit rate of approximately 97%. Thus, two aggressive drilling seasons were enough to suggest the world-class format of a potential deposit that was previously totally unknown! Now the company presents further important information about Surebet.
Of course, news about the metallurgical properties of a project’s ore is less interesting to many than spectacular drill results – which Goliath has delivered time and again in the past – but metallurgical tests are important for the economic viability and CAPEX of a gold deposit. After all, what good are high gold grades if extracting the precious metal from the rock is difficult and / or very laborious – and therefore more expensive?
In this regard, however, Goliath Resources is delivering positive news as well, reporting today that they were able to collect 48.8% gold and 10.3% silver in a low mass gravity concentrate alone. This produced a gravity concentrate that contained 209 g/t gold and 1,341 g/t silver, with this product having only 1.47% of the mass of the original sample.
Incidentally, the source material came from a composite sample consisting of quartered diamond drill core from 32 mineralized intervals intersected during the 2022 drilling campaign. The composite sample was calculated to contain 9.42 g/t gold, 184.4% silver, 1.3% lead and 0.94% zinc.
The gravity tailings were subsequently subjected to bulk flotation and HydroFloat bulk cleaning which returned a total of 92.2% gold, 86.5% silver, 94.2% lead and 96.9% zinc in a concentrate weighing only 11.9% of the original sample mass. The final grade of the concentrate after gravity separation and flotation was 73.2 g/t gold, 1,346 g/t silver, 10.36% lead and 7.69% zinc. It is also important to note that the arsenic grade in the final product was just 0.24% which is popular with smelters worldwide.
Goliath also said that examination of the ground mineral particles shows that even at the coarse grind size of P80 327 μm, or 0.327 mm, most of the targeted minerals of economic interest are free of gangue or waste minerals. This suggests that even coarser grinding could yield similarly favorable recovery results. Coarser grinding, of course, would mean lower energy input and thus lower costs, which would be a potentially important economic advantage for the Surebet project. Especially since gravity separation and flotation are already less capital intensive techniques than most other processing methods for precious metal recovery.
And, also a weighty benefit, according to Goliath, metallurgy test results indicate that Surebet could potentially be developed without requiring cyanide!
Of course, further tests are still needed, among other things to determine whether the mass of the concentrates can be further reduced by, for example, removing barren magnetic gravel by magnetic separation. Such further refinement would make the product even more desirable on the market and, of course, reduce the amount of material that ultimately has to be transported.
Well-known expert Quinton Hennigh, technical and geological director at Crescat Capital, a strategic investor in Goliath, is pleased about these results and speaks of Surebet having “a number of optimal characteristics”. He emphasizes that it is rare to see such simple and favorable metallurgy in a gold and silver project.
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