The visible gold mineralization, independently confirmed by the Colorado School of Mines, was detected in hole GD-22-49 - a 750 meter extension hole from the Surebet Main zone - as well as in hole GD-22-58 - a 300 meter extension hole to the west of Surebet Main and west of the Northeast Fault. Goliath itself states that the presence of this visible gold strongly suggests that the potential exists for very high-grade intersections. At the same time, the company adds, this means that clas-sic mineralization style of Surebet has now been proven over an area of 1.6 square kilometers.
With this, visible gold has now been identified in quartz-sulfide veins and breccias in several drill holes, including GD-22-49, which is from Pad A on the southeast side of the Northeast Fault, and GD-22-58, which is from the South Cliff extension pad on the northwest side of the Northeast Fault. All previous occurrences of visible gold have been identified within quartz breccias and veins in contact with or in close proximity to galena and sphalerite that occur in the Hazelton sedimentary unit. The Hazelton volcanic unit also contains Surebet textures, sphalerite and galena that offer excellent, as yet untapped potential for additional discoveries in the underlying volcanic rocks. The presence of visible gold has been independently confirmed by the Colorado School of Mines, with whom the Company is collaborating on a project aimed at determining the origin and evolution of gold mineralizing fluids in the Surebet zone.
This occurrence of visible gold in the Surebet mineralized intercepts is, according to Goliath, fur-ther confirmation of the exceptional results of the metallurgical study conducted on a composite sample of combined core from 16 diamond drill holes assayed from 2021. This study has shown that when crushed to 150 microns, 98.2% of the gold can be recovered without acid leaching, rep-resenting a relatively low cost and environmentally friendly mining scenario. An impressive 38.1% of the gold and 10.5% of the silver can be recovered by gravity mining alone. This suggests that a processing scheme employing early gravity recovery should produce considerable gold in the form of ore ingots. Gravity is generally considered to be the lowest cost method of gold recovery in the mining industry and would therefore be of considerable benefit to the economics of the project.
Conclusion: Surebet drilling consistently produces excellent results in 2022, as far as can be seen from a purely visual examination of the samples obtained. In particular, the visible gold from two holes on different sides of the Northeast Fault appear very promising and indicate potential for very high gold grades. With the drill information now released, the area where classic Surebet mineralization, as drilled in 2021/2022, has been proven has grown from 1.4 square kilometers two weeks ago to more than 1.6 square kilometers now - and this area remains open for further discoveries! It also appears, based on metallurgical studies, that given that gold mineralization at Surebet starts at surface, has thick intervals and high grade, Goliath could potentially mine under-ground and with relatively little environmental impact. The use of gravity separation, exceptional geometry, grade continuity, indicated low-cost recovery, environmentally friendly geochemistry and excellent proximity to infrastructure, combined with the cost of exploration, labor and the majority of materials in Canadian dollars could make for excellent economics. All in all, it is be-coming increasingly clear that this is a unique and extremely rare opportunity that, according to CEO Roger Rosmus, has already attracted the interest of numerous institutions and mining com-panies. The only thing missing are the results of the laboratory analysis!
Details of the drilling and further metallurgical details can be found in the company's press re-lease.
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. Furthermore, we cannot exclude that other stock letters, media or research companies discuss the stocks recommended by us during the same period. Therefore, symmetrical information and opin-ion 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 a con-flict of interest exists.