High-grade mineralized dykes indicate source of the gold system

In just 15 months of net working time, Goliath Resources (WKN A2P063 / TSXV GOT) has proven a system of layered, high-grade gold veins at its Golddigger project that is second to none. The massive Surebet discovery covers an area of 1.8 square kilometers and another 1.2 kilometers vertically as of the end of 2024. And the company has drilled a total of 243 holes encompassing 92,000 meters and achieved a 100% hit rate in over 300 pierce points.

All of this is already impressive enough and the potential of the numerous gold veins is far from exhausted, but it is now becoming apparent that the Surebet mineralization could potentially increase substantially – through the exploration of additional structures to which Goliath had previously paid less attention.

But that is now changing! Because updated modelling of the Surebet mineralization showed, as Goliath now reports, that the layered system mentioned is directly related to a reduced intrusive gold system (RIRG), the Motherlode intrusive source of the entire high-grade mineralization system, from which numerous gold-bearing feeder dykes emanate. And it is precisely these „dykes“ that Goliath will now investigate in more detail, after up to 12 g/t gold equivalent (AuEq) consisting of 11.84 g/t gold and 15.61 g/t silver over 10 meters, plus a second separate interval of 8.59 g/t AuEq (8.35 g/t Au and 20.74 g/t Ag) over 5.00 meters were detected in them last year, among other things, which also remain open for expansion!

17 of these RIRG feeder veins, which are up to 25 meters thick and can be traced on the surface over a strike length of at least up to 1,500 meters, have so far been encountered by the company through drilling or mapped on surface, of which 13 dykes have yet to be investigated. And interestingly, the layered veins hosted in sedimentary and volcanic rocks have been dated and are very similar in age in geological terms as host rock in the RIRG feeder dykes. Which, according to Goliath, points to a syngenetic relationship between these two stages of mineralization.

Two stages of gold mineralization are observed petrographically in all gold bearing veins at the Surebet Discovery. The first stage is higher-temperature and occurs with a strong bismuth-gold association, which is most commonly observed in the RIRG dykes. This is further evidence these are the feeder pathway structures that provided mineralization for the high-grade gold stacked veins. The second is a lower temperature stage most commonly found in the sedimentary rocks and volcanic rocks. Certain intervals are observed containing both high temperature and low temperature stages of gold i.e. previously announced drill hole GD-24-260 that ran 34.52 g/t AuEq (34.47 Au and 3.96 Ag) over 39 meters, including 132.93 g/t AuEq (132.78 Au and 12.98 Ag) over 10.00 meters.

Accelerated exploration program 2025

Goliath will now accelerate this year’s exploration activities by logging, sampling and assaying the untested dykes in light of the strong assay results from the four feeder veins tested in 2024. As the company further explains, this data should provide excellent potential to further target and vector in on the gold mineralization system as a whole.

Four of the previously logged feeder dykes were reported to contain high-grade mineralization intercepts with visible gold, molybdenite, bismuth and tellurium mineralization associated with a RIRG system. As part of the 2025 work at Surebet, Goliath will now re-log and re-analyze 19 drill holes with promising mineralization intervals from 2021 to 2024, potentially providing more than 900 metres of assays for an early quick start of the exploration season. Incidentally, the mobilization of the teams is already planned for May this year.

The same source is tapped

In our opinion, the significance of these new findings cannot be overstated. As Dr. Quinton Hennigh, geological and technical director at Goliath’s major shareholder Crescat Capital explains, Surebet now shows convincing evidence of the causal intrusion that produced this remarkable high-grade gold system. The numerous steeply dipping feeder dykes most recently encountered in drilling have quartz-sulphide veins and veinlets that are very similar in composition to the numerous shallow and shallow-dipping veins that have been the focus of exploration to date, he said.

Age dating has also shown that the emplacement of these veins is very close to the age of the mineralization. This is interesting for three reasons, Dr. Hennigh continued. Firstly, it indicates that the veins themselves represent a very prospective, potentially extensive exploration target. Secondly, the veins and mineralizing fluids clearly tap the same structures, which are believed to be deep-rooted and derived from a parent magma source at depth. This could mean that there is much more gold in the system that could be explored beneath and to the side of the Surebet discovery. Finally, it is also immediately apparent that there is a spatial relationship between these veins and the location of most of the high-grade intercepts discovered to date. In short, Dr. Henigh concludes, there is now a clear vector to guide future drilling in high-grade areas. For the renowned expert, the 2025 drilling season cannot start soon enough!

Roger Rosmus, founder and CEO of Goliath, also explains once again why the latest findings could be so important. Among other things, he pointed out that it now looks like Surebet could potentially be a combination of layered gold veins (such as those occurring at the Pogo mine, in Alaska which has been in production since 2006 with a resource of 6.7 million ounces of high-grade gold) and a RIRG system (like the Snowline Gold discovery that has resource over 7 million gold ounces in the Yukon)!

As Mr. Rosmus explained, this exploration season’s drilling will start move as early as possible to expand both the layered gold veins as well as the feeder dykes to get closer to the source of the Surebet discovery gold system. All we can say is: drill, baby, drill!