FULL DISCLOSURE: Canacom Group is long the equity of Goliath Resources.
Goliath Resources (TSXV: GOT) has continued to see success in their efforts to relog certain drill holes previously conducted at the Surebet discovery. The latest relogging has again yielded positive results, demonstrating further gold exists at the Golddigger property in BC.
The latest results have demonstrated that gold is present within a third rock package within the high grade gold Bonanza zone. Highlights from the results include:
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- GD-24-280: 8.31 g/t gold over 23.0 metres from a depth of 105.0 metres
- Including 15.69 g/t gold over 11.0 metres
The intercept, which comes from a 500 metre step-out to the east from other high grade holes previously conducted, including hole GD-23-197 which intersected 34.03 g/t gold over 9.0 metres.
Mineralization here is said to have a different expression compared to what has become typical for the Bonanza zone, with hole GD-24-280 characterized by a broad gold-rich interval of calc-silicate altered breccia. Multiple occurrences of gold are said to be visible to the naked eye in this mineralized rock package, which is the third such type of rock found to be mineralized with gold at Bonanza. The identification of this new mineralized material is said to demonstrate the additional discovery potential for high grade gold at Surebet.
WATCH: Gold Drilling Scaled to 60,000 Meters: How Big Can This Get? | Roger Rosmus – Goliath Resources
“We are delighted with the exceptional assay results from drill hole GD-24-280 within a newly identified calc-silicate altered high-grade gold breccia, with visible gold to the naked eye. This gives us a new discovery of high-grade gold, this time in a third distinct rock package at the Surebet high-grade gold discovery. We have high-grade gold in stacked gently-dipping veins stretching over 1.2 kilometers, vertical RIRG dykes that crosscut the veins which we are now referring to Goldilocks zones as they have high-grade gold in two temperature regimes. There are multiple locations where the gently-dipping veins and vertical RIRG dykes crosscut, which gives us the potential to have several Goldilocks zones. Now, we can add a new discovery of high-grade gold in a third distinct rock package at Surebet,” commented Roger Rosmus, CEO of Goliath Resources.
Assays meanwhile are said to be pending for six additional drill holes that are being re-logged with visible gold having been identified, while exploration remains ongoing on site as part of an expanded 60,000 metre drill campaign with eight drill rigs currently turning.
Goliath Resources last traded at $2.46 on the TSX Venture.
FULL DISCLOSURE: Goliath Resources is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Goliath Resources. The author has been compensated to cover Goliath Resources on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
