Goliath Resources: Will recent drill holes exceed one ounce of gold per ton again?
These drill results could be interesting! Canadian gold explorer Goliath Resources (WKN A2P063 / TSXV GOT) has completed an initial, visual examination of drill core samples from hole GD-23-226, revealing that they have encountered visible gold “in abundance” in an interval of 23.65 meters!
As the company explained, this interval corresponds to the Surebet zone, the original discovery zone on the Golddigger project, located in the Hazelton sediments. The mineralization, Goliath added, consists of galena, sphalerite, pyrrhotite and minor chalcopyrite.
Meanwhile, Goliath has confirmed widespread mineralization over an area of 1.8 square kilometers (!), with 42% of the 98 holes drilled in 2023 containing visible gold with grades up to 485 gm (gram meters) gold equivalent, according to the company. In addition, many holes with results pending had large quantities of visible gold with nuggets up to 4 mm in size.
Already, the visible gold with nuggets of up to 1.7 mm from holes GD-23-203 over 15.8 meters as well as GD-23-197 (19.15 meters with up to 1% visible gold and 4 mm nuggets) far exceeds the visible gold from hole GD-23-173. And that hole finally yielded over 1 ounce of gold equivalent per ton within 14.68 gold equivalent over 26.89 meters in the lab analysis. So, one can hope for even stronger results from the latest drill hole.
One strong drill hole follows the next
Hardly less promising than hole GD-23-226 is hole GD-23-203 (see above), which Goliath reported only yesterday. Because this intersected a 15.8 meter long section that contained abundant visible gold with nuggets of up to 1.7 mm in size. This intercept corresponds to the Bonanza shear, the contact between the sedimentary and volcanic Hazleton units. Mineralization consists of extensive concentrations of galena, sphalerite, pyrrhotite and minor chalcopyrite.
Assay results are also pending here. A comparison of assay results from the above mentioned GD-23-173 hole based on visible gold and sulfides strongly suggests that the pending assay results from GD-23-203 with its numerous visible gold nuggets and extensive sulfides should also show significantly higher gold values than the above mentioned 1 ounce / ton gold equivalent for GD-23-173!
Conclusion: It’s hard, not to be excited about the pending analysis results of the drill holes reported by Goliath in recent days. After all, there are indications that they could turn out even better than a drill hole that showed more than 1 ounce of gold per ton! (Even if this cannot be guaranteed, of course.) Perhaps several such results will convince the currently so difficult market and let the Goliath shares sustainably break out of its current sideways movement at comparatively low levels.
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