Detailed evaluation of five drill cores from the Waterfall drilling platform shows clear similarities to drill intercepts from the Cliff platform location 150 meters to the south (see Figure 1). The Company reports today that the best drill hole at the Waterfall site, GD-21-20, intersected a total of 32.6 meters of extensive quartz-sulphide veins, breccias and associated alteration, including 4.2 meters of semi-massive sulphides with pyrrhotite, pyrite, galena and minor sphalerite and chalcopyrite. Geologists are comparing drill hole GD-21-20 with drill hole GD-21-03 at the Cliff drill site, where grades of 6.37 g/t AuEq (4.46 g/t Au and 122.13 g/t Ag) were encountered over an almost identical 35.7-meter thickness, including 4.5 meters of 31.88 g/t AuEq (24.97 g/t Au and 458.10 g/t Ag). The structural similarity of the two 150 metre drill intersections bodes well for positive results from the pending drill core assays.
Figure 1: Overview of the distribution of the total of nine drill rig locations on the Surebet Zone. Out of 23 drill holes, only three have been fully evaluated in the laboratory.
All five drill holes from the Waterfall drill site have intersected veins, breccias and sulphide mineralization. Results from each drill hole are: GD-21-19 (170 metres @ 090°/-62°) intersected 38.0 metres, including 1.3 metres of semi-massive sulphide breccias; GD-21-18 (157 metres @ 080°/-62°) intersected 33.9 metres, including 2.2 metres* of semi-massive to massive quartz-sulphide stockwork and breccias; GD-21-22 (269 meters @ 000°/-90°) intersected 27.1 meters*, including 3.60 meters of quartz breccias with semi-massive sulfide intervals; and o GD-21-17 (127m @ 055°/-60°) intersected 13.9 meters.
Step-out drill holes planned on Real Deal
Goliath plans additional step-out drill holes to test the mineralized structure to a down-dip extension of 500 meters to the west. Drill holes are planned at the newly discovered Real Deal occurrence located 620 meters west of the Surebet Zone (see Figure 1) and 290 meters east of Cloud 9 (Figure 1, highlighted with yellow star).
Bottom line: the market is impatiently awaiting further drill core assays from the lab. The bad news is that, unfortunately, the labs are hopelessly overloaded - as they are every season - and the full release of results from the 20 drill holes still to be completed is likely to be delayed. The good news is that, for now, the structural information they are gaining from visual analysis of the drill intercepts is all the geologists need to guide their drilling program - and it is extremely encouraging, because everything so far points to a high degree of continuity in the Surebet Zone. That's worth a lot. Exactly how much will then be revealed by the final analyses. Regardless of the lab results, the bold step-out drill holes at Goliath in particular are likely to attract a lot of attention. We look forward to seeing the results.
According to §34b WpHG i.V.m. FinAnV (Germany) and according to section 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 rule out 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 consulting or other service contract between Goliath Resources and GOLDINVEST Consulting GmbH, which means that a conflict of interest exists.