FULL DISCLOSURE: Canacom Group is long the equity of Goliath Resources.
Goliath Resources (TSXV: GOT) is taking its exploration program to the next level, announcing this morning that it has contracted JDS Energy & Mining to develop plans for an exploration adit at Surebet, part of the Golddigger property in BC.
JDS specifically has been contracted to “assess the viability, permitting, and development” of an underground adit. The adit would be used to access an expanse of the high grade lode known as the Bonanza zone, which is 200 metres above the valley floor.
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The adit is expected to serve a number of purposes, including underground drilling of extensive portions of the Surebet lode system, reducing the amount of drilling needed for resource work, while potentially extending the drill season. The adit will also enable geological confirmation of the thickness and continuity of the Bonanza zone, and potentially allow for bulk sampling of the zone, which would confirm prior drill results (such as hole GD-24-260, which intersected 34.47 g/t gold and 3.96 g/t silver over 39.0 metres} while providing material for advanced metallurgical work.
“Knowing the location and controls of these highly prolific zones within the mineralized system will certainly help with future targeting and planning of a potential bulk sample with the highest economic value. Also, it would significantly reduce total meter drilling costs and enable us to increase the meters to be drilled, as well as serve as a permanent access point for future mining operations, supporting scalability,” commented Goliath CEO Roger Rosmus.
“We would be able to drill in multiple directions and allow for exploration of a wider area underground without surface constraints while expanding and increasing confidence in the systems continuity. Direct observation of rock formations, faults and high-grade gold zones will provide valuable data to target and expand the known system. Ultimately, we would be able to drill year-round versus packing up at the end of our short exploration season which would help expedite the timelines to expand on the system.”
Goliath also noted this morning that it will be mobilizing in the near term for its 2025 drill campaign, which the company has previously stated will focus on expanding the known stacked layers of high grade gold at Surebet, alongside advancing the Treasure Island VMS discovery as well.
Goliath Resources last traded at $2.09 on the TSX Venture.
FULL DISCLOSURE: Canacom Group, the parent company of The Deep Dive is long the equity of Goliath Resources. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
