Goliath Resources (TSX-V: GOT; FRA: B4IF) is poised to commence its first drill program on the newly discovered Surebet Zone within its 230 square kilometer Golddigger License in British Columbia's prolific Golden Triangle. The drill permit for a diamond drilling program has been received and is valid for five years, the company announced today. The spectacular discovery of Surebet - in German "safe bet" - had been reported in November last year. Extensive channel sampling had identified a high-grade polymetallic gold-silver structure that runs like a fissure through the mountain. The mineralized shear zone is exposed over a length of one kilometer (1,000 meters) and extending vertically for 500 meters in elevation. Measurements of the zone returned an average thickness of 9.84 metres grading 10.68 grams per tonne gold equivalent (AuEq) (7.59 g/t Au). Since the discovery, Goliath's stock has quadrupled, attracting prominent investors including Crescat Capital and Eric Sprott as well in the technical community attracting Dr. Quinton Hennigh to become a technical advisor. Upcoming drilling is expected to cover ~5,000 meters. A 3D model of the Surebet zone and a video showing proposed drill locations can be found under the following link. (3D Model & Proposed Drill Locations Video Link).
Figure 1: Like a fissure, the gold-bearing mineralized shear zone stretches across the mountain, revealing the three-dimensional structure that lies beneath. Goliath geologists hypothesize that the mineralization is coalescing into a planar package. This is precisely the hypothesis they intend to test in the planned drilling.
The Golddigger property is 23,858.51 hectares in size and is located just 7 kilometers west of the Dolly Varden Mine access road, allowing for low-cost exploration (link to claims map). Approximately 8 kilometers to the southwest is Fury Gold Mines' Homestake Ridge deposit, a high-grade gold-silver deposit containing 982,700 ounces of gold (4.99 g/t gold) and 19,600,000 ounces of silver (97.7 g/t silver). Individual drill intercepts returned up to 73 meters of 21 g/t gold and 12 g/t silver (source - Auryn Resources PEA & website) (Link to Regional Map).
Goliath's confidence that the stock will continue to perform well is demonstrated by the recent grant of stock options. A total of 285,000 common shares were issued to directors and consultants of the company. These stock options are exercisable at CAD 0.68 each, which is the closing price on May 3, 2021. The term is for 5 years ending May 4, 2026.
Conclusion: The name "Surebet" is well chosen for marketing reasons, but it also captures the geological realities. Normally, a company must first drill extensively to obtain the structural information that is already out in the open on the Surebet Zone. If the upcoming drilling confirms the gold values measured in the channel samples and the consistent thickness of the mineralized package, Goliath could very quickly calculate an initial resource. Well-known geologist Dr. Quinton Hennigh, who acts as an advisor to the invested Crescat Fund, once estimated Surebet's potential from the hip at ~2.0 million ounces of gold using only an average 4 meters shear zone width (click for video). Others see far higher numbers and rightly remind us that Surebet comprises only a fraction of the Golddigger area. But as always, the truth lies at the tip of the drill bit. The only thing that is certain is that Goliath is probably one of the most exciting exploration stories ever this season. We'll stay tuned.
According to §34b WpHG and according to paragraph 48f paragraph 5 BörseG (Austria) we would like to point out that principals, partners, authors and employees of GOLDINVEST Consulting GmbH hold or may hold shares of Goliath Resources and therefore a possible conflict of interest exists. We also cannot exclude that other stock letters, media or research firms discuss the stocks we recommend during the same period. Therefore, symmetrical information and opinion generation may occur during this period. Furthermore, there is a consulting or other service contract between Goliath Resources and GOLDINVEST Consulting GmbH, which means that there is a conflict of interest, especially since Goliath Resources remunerates GOLDINVEST Consulting GmbH for reporting Goliath Resources.