FULL DISCLOSURE: Canacom Group is long the equity of Goliath Resources.
A re-logging program being undertaken by Goliath Resources (TSXV: GOT) has already yielded extremely positive early results, with the company this morning revealing it has encountered multiple occurrences of visible gold in a hole being re-examined.
The hole, GD-22-64, is said to have had multiple occurrences of visible gold that can be seen by the naked eye over a 26.47 metre interval. The interval intersected a intermediate granitoid reduced intrusion related gold feeder dyke, which is one of the many dykes that is currently believed to be related to the intrusion responsible for the high-grade mineralization identified at Surebet. Gold grains up to 1 mm in diameter have been identified within the core.
“The identification of visible gold within this new dyke interval in hole GD-22-64 is a highly encouraging start to our 2025 drill exploration program at Surebet. The strong similarities to previously drilled, high-grade intercepts within these RIRG dykes reinforce our belief that we are in close proximity to a significant gold-rich intrusive source,” commented Roger Rosmus, CEO of Goliath Resources.
The newly identified visible gold is said to be reminiscent of GD-22-58, which was also drilled in 2022. When relogged last year, the hole assayed up to 12.03 g/t gold equivalent over 10 metres true width.
GD-22-64 is the first of fifty holes being reexamined this year that has encountered Eocone intrusive granitoid dykes. Last year, a total of 13 holes were relogged from the same series of intrusive dykes, of which 6 had visible gold. In addition to GD-22-58 and its previously stated intersection, hole GD-24-237 assayed 10.50 g/t gold equivalent over 7.00 metres, GD-23-180 assayed 3.46 g/t gold equivalent over 7.00 metres and GD-23-226 assayed 6.03 g/t gold equivalent over 2 metres.
READ: Goliath Resources Launches 91 Hole, 40,000 Metre Drill Program At Surebet
The latest discovery comes as Goliath begins its largest drill program to date. 40,000 metres of drilling is scheduled to occur under this year’s exploration program, with the program focused on expanding the Surebet discovery. Planned drilling will look to test for the Motherlode Causative Intrusive Gold Source, alongside testing further Eocene intrusive granitoid dykes and expanding the known mineralized veins laterally. Infill drilling will also occur, which will look to increase the density of pierce points within the known stacked veins.
Rosmus continued, “Our largest drill program to date is strategically designed to methodically unlock the full potential of the Surebet discovery, including testing for the ‘Motherlode’ causative intrusion and further defining the extensive high-grade mineralization across the project.”
Assays are currently pending for hole GD-22-64, while a total of 2,062 metres in aggregate will be re-logged over the next month and may be sent in for assay.
Goliath Resources last traded at $2.03 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.
