Sure bet: Goliath Resources again proves up high-grade gold and silver mineralization

Goliath Resources (TSXV GOT / WKN A2P063) is coming up with one strong drill hole after another from its Golddigger project in British Columbia’s Golden Triangle. The highlight of the four holes presented today was probably the 14.68 g/t gold equivalent over 26.89 metres within the Surebet discovery. It proves, not for the first time, that Surebet discovery is indeed a sure bet!

As Goliath announced, Holes GD-23-173, GD-23-116, GD-23-151 and GD-23-135 were from the Bonanza Feeder Zone and all encountered thick intervals of significant quartz sulphide mineralization with widespread visible gold.

Hole GD-23-173 intersected visible gold and rich sulphide mineralization contained in quartz stockwork and quartz breccia veins in two intervals, the Surebet Zone from 45.11 to 72 metres depth (an interval of 26.89 metres approximate true width) and the Bonanza Shear from 446 to 455.27 metres. The main intersection of mineralization (corresponding to the Surebet Zone) had 33.02 g/t gold equivalent consisting of 10.97 g/t gold and 1,817.34 g/t silver over 9.60 metres. This intercept was part of a broader interval that had 23.89 g/t gold equivalent (9.40 g/t gold and 1,176.14 g/t silver) over 15.49 metres and 14.68 g/t gold equivalent (5.81 g/t gold and 719.13 g/t silver) over 26.89 metres.

The shallower section (Surebet Zone) is in sedimentary units composed of mudstones and siltstones and shows the presence of mineralized stockwork and quartz breccia veins. Mineralization consists of semi-massive to stringer pyrrhotite (up to 5%), sphalerite (up to 2%), disseminated to patchy galena (< 1% but continuous throughout the section) and minor chalcopyrite (< 1%). In the Surebet Zone section, the occurrence of visible gold up to 0.7 mm in size was observed seven times.

However, results from the deeper intercept corresponding to the Bonanza shear are still pending. Mineralization consists of disseminated to semi-massive pyrrhotite (1%) and galena, sphalerite and chalcopyrite, which have an abundance of 1% over the entire length of the section, but are concentrated in local quartz veins. Visible gold was identified at 447.4 meters depth in association with sulfides.

High gold and silver values over thick mineralized intervals

Hole GD-23-116 also impressed and intersected sulphide mineralization in the form of massive to stockwork galena, sphalerite, pyrrhotite, chalcopyrite and pyrite in three different intervals. The shallowest intercept, observed between 38 and 42 metres, is interpreted as the Surebet Zone and consists of 11.86 g/t gold equivalent (8.92 g/t gold and 147.53 g/t silver) over 3.00 metres within 8.94 g/t gold equivalent (6.75 g/t gold and 73.10 g/t Ag) over 4.00 metres. The second mineralized intercept, interpreted as an outcrop of the main Surebet zone, was found between 104 and 107 metres and consists of 5.11 g/t gold equivalent (2.39 g/t gold and 219.00 g/t silver) over 3.00 metres. The deepest intercept, interpreted as the Bonanza shear, was intersected between 513 and 516.64 metres and consists of 5.77 g/t gold equivalent (4.70 g/t gold and 29.93 g/t Ag) over 3.64 metres.

The Surebet zone section is in massive to semi-massive siltstone and contains stockwork galena (2%), sphalerite (5%), pyrrhotite (10%), and pyrite (2%). The Surebet shoot is in sandstone and has galena (<1%) and pyrrhotite (<1%) scattered throughout the unit, reaching locally higher concentrations along quartz-chlorite veins and dykes. The section of Bonanza shear observed between 513 and 516.64 meters is hosted in siltstones and contains massive to stockwork galena (2%), sphalerite (2%), pyrrhotite (5%) and pyrite (5%) with minor amounts of chalcopyrite.

Four of four drill holes have encountered significant gold and silver mineralization

Drill hole GD-23-151 intersected quartz-sulphide mineralization in three mineralized intervals (corresponding from top to bottom to a Surebet spread, the Surebet Zone and the Bonanza shear). The first section corresponds to a Surebet Zone spread and has 2.36 g/t gold equivalent (1.40 g/t gold and 48.12 g/t silver) over 2.70 metres within 1.32 g/t gold equivalent (0.78 g/t gold and 26.98 g/t silver) over 5.00 metres. The second (and most important) intercept corresponds to the Surebet Zone and consists of 8.28 g/t gold equivalent (7.25 g/t gold and 51.81 g/t silver) over 2.70 meters within 3.77 g/t gold equivalent (3.32 g/t gold and 23. 07 g/t silver) over 6.70 metres within 2.93 g/t gold equivalent (2.56 g/t gold and 18.64 g/t silver) over 8.85 metres and within 1.05 g/t gold equivalent (0.89 g/t gold and 8.21 g/t silver) over 29.85 metres. A third intercept corresponds to the Bonanza shear; assay results are currently pending.

A 0.5 millimeters wide platelet of visible gold was identified at a depth of 143.85 m contained within a quartz breccia vein associated with pyrrhotite and sphalerite mineralization. Sulfide-rich quartz breccias and veins interpreted to be part of the Surebet Zone were intersected from 79.15 to 81.85 m (Surebet play) and continued in an extensive interval from 99.15 to 168.38 m hosted in siltstones interbedded with mudstones (Surebet Zone). Mineralization observed ranges from stringer to stockwork and massive pyrrhotite (up to 10%), sphalerite (up to 1%) and galena (up to 1%) with minor concentrations of chalcopyrite. A strongly mineralized section interpreted to be part of the Bonanza shear was recovered from a depth of 475.41 to 502 meters. Mineralization in this section consists of disseminated to massive pyrrhotite, pyrite and sphalerite. Assay results for the deepest section are pending and will be reported when received.

Hole GD-23-135 intersected visible gold and quartz-sulphide mineralization in three significant intervals. The main intercept corresponds to the Bonanza shear and consists of 5.00 metres of 4.06 g/t gold equivalent (3.97 g/t gold and 2.08 g/t silver) within 9.00 metres of 2.87 g/t gold equivalent (2.81 g/t gold and 1.70 g/t silver) and within 19.02 metres of 1.75 g/t gold equivalent (1.70 g/t gold and 1.21 g/t silver). A second intercept corresponds to the Surebet Zone and consists of 1.17 meters* of 6.33 g/t gold equivalent (5.75 g/t gold and 32.50 g/t silver) within 3.17 meters* of 3.31 g/t gold equivalent (2.82 g/t Au and 25.59 g/t silver). The final intercept is most likely an extension of the Surebet Zone and consists of 2.00 metres* of 4.41 g/t gold equivalent (2.76 g/t gold and 76.70 g/t silver) within 4.76 metres* of 2.09 g/t gold equivalent (1.22 g/t Au and 39.16 g/t silver).

The hole intersected a series of overlying sedimentary units consisting of mudstone, siltstone and sandstone with minor volcanic tuff. Visible gold was encountered at 61.00 meters. Quartz-sulphide breccia intercepts were intersected between 54 and 61 metres (Surebet Splay), 102 and 106 metres (Surebet Zone) and between 387 and 406.00 metres (Bonanza Shear). Mineralization consists of strands and assemblages of sphalerite (up to 1%), galena (up to 1%), chalcopyrite (up to 1%) and pyrrhotite (up to 2%).

Conclusion: Golddigger, Surebet, Bonanza Shear - Goliath has aptly named its project and the various zones of mineralization, as significant, high-grade gold mineralization can be detected time and again with a high degree of certainty, some of which actually has bonanza grades. And intercepts that appear somewhat lower grade really only do so because Goliath keeps the standard so high. In any case, in view of the continuously strong results, we are getting excited about how the first resource estimate for Golddigger will ultimately turn out, even if that’s still a ways off.

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