A year full of exciting new discoveries?
Since 2001, gold explorer Goliath Resources (WKN A2P063 / TSXV GOT) has already significantly expanded its spectacular Surebet discovery, part of the Golddigger project in British Columbia’s famous Golden Triangle. In three short drill seasons a total of 66,930 meters had been drilled by 2023 – with consistently great success. Goliath has now launched the 2024 drilling campaign and plans to drill an additional 15,000 meters with two and later even three rigs, this year!
CEO Roger Rosmus’ company is thus building on a very successful 2023, in which 97% of the drill holes drilled (86 out of 92) encountered gold mineralization. And over significant widths. Meanwhile, the known area of the Surebet discovery covers 1.8 square kilometers and has mineralization exposed at surface for 1.0 kilometer along strike and 1.1 kilometers down dip, with 700 metres of vertical relief with exceptional continuity.
Focus on possible depth extension and origin of Surebet
The drill program planned for this year is focused on extending Surebet to depth to get closer to the suspected source of the high-grade gold mineralization. To date, Goliath has discovered a total of ten mineralized horizons at Surebet that could potentially expand the volume of mineralization and remain open for expansion.
Concept of mineralization veins on Golddigger; Source: Goliath Resources
The campaign now underway aims to achieve this as well as discovering new mineralized horizons and extending the excellent continuity, which is a major advantage in the exploration of the Surebet system – and will also be in subsequent exploitation.
However, it is not only the high hit frequency of the drill holes that makes Surebet so special, but also their quality. This is because 35% or 44 of the 124 holes drilled there last year contained visible gold with nuggets up to 11 millimeters in size and eleven of the holes drilled on Surebet so far have had more than 100 and up to 513 gram-meters, which are exceptionally strong values. In this frequency in particular…
Potential for the confirmation of three new discoveries
In addition, Goliath is planning the first ever drilling on three high-grade gold-copper targets called Jackpot, Treasure Island and Full Contact. Which offers the prospect of confirming three new discoveries with the drill bit and thus, as the company puts it, creating “additional upside for shareholders”…
Drill sites 2024 on Golddigger; Source: Goliath Resources
Goliath only recently discovered the Jackpot outcrop and assays included 21.5 ounces or 667.40 grams per ton gold equivalent! Jackpot is believed to be associated with the Surebet discovery as it contains nearby bonanza grades with similar texture, mineralogy and geochemistry within the volcanic rocks!
Treasure Island, on the other hand, is located 36 kilometers north of Surebet. This is a copper, silver and gold discovery that extends over approximately 550 by 450 meters. Goliath was able to take numerous high-grade samples here, with an exceptionally high number of channel samples in particular – 15 out of 16 (!) – containing more than 1 g/t gold equivalent and up to 14.4% copper!
Finally, Full Contact is located 19 kilometers northwest of Surebet and Goliath was able to obtain samples with up to 101.13 g/t gold equivalent and 1% copper. Like Treasure Island, this target area is also located on the so-called Red Line, the geological contact between Triassic Stuhini rocks and Jurassic Hazelton rocks, in the vicinity of which (approx. 2 km) a large part of the copper and gold deposits of the famous Golden Triangle can be found. Both Treasure Island and Full Contact thus demonstrate the excellent, previously untapped potential for further discoveries on Goliath’s huge gold digger property.
A year full of exciting new discoveries?
Goliath attracted the interest of Crescat Capital some time ago. The asset manager specializing in commodities holds 18.4% of the outstanding shares of Goliath Resources and supports the company with its exceptional expertise. In particular, Crescat’s technical advisor Dr. Quninton Hennigh, a world-renowned geologist, is convinced of the quality and opportunities of the Golddigger project. With 2024 drilling starting now, he explains:
“When I observe the development of exploration projects over time, I generally find that the projects that consistently deliver better and better results are the ones that ultimately make quality discoveries that become successful mines. The Golddigger project is a classic example of this. Goliath is about to enter its fourth drill season. Looking back, it has been a remarkably productive journey. While the Surebet lode itself was a great discovery that delivered strong drill results, other and even more exciting discoveries soon followed, including the Golden Gate and Bonanza lodes. Now the company will not only continue drilling these robust veins, but also has a whole new set of targets to test: Jackpot, Treasure Island and Full Contact. I think this year will be full of exciting new discoveries.”
We certainly agree and will definitely stay on the ball for our readers!
Conclusion: Investors obviously welcome the fact that Goliath Resources is preparing to embark on another aggressive drilling campaign at the Golddigger project. Probably also because the company had taken the time to do extensive analysis and modeling in the wake of the successful 2023 drill campaign at Golddigger. According to CEO Rosmus, this additional data has significantly increased Surebet's geologists' understanding and allows them to get closer to the suspected source of the high-grade mineralization. If Goliath is successful in this regard, it could be the catalyst for the stock to reach a new level. We also believe that the new targets, which have not yet been tested with drilling, have outstanding potential. We are delighted for the stock market that Goliath is now getting started and will of course be following this exciting story!
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