Goliath Resources (TSXV: GOT) is reporting that it has intersected the highest concentration of visible gold to date at its Golddigger property in British Columbia. The company at the same time has indicated that it has a new discovery at depth, both of which occurred within the Surebet system.
Hole GD-24-260 is said to have encountered the highest concentration of visible gold to date, which was intercepted at the Bonanza Zone over 13.1 metres, beginning at a depth of 533 metres. The company at the same time got promotional, stating it looks similar to hole GD-23-197, which was previously reported to have assayed at 34.03 g/t gold equivalent over 9 metres. 21 drill holes are currently focused in the area of GD-23-197 due to the strong assay results.
66% of drill holes conducted this year at the Surebet discovery meanwhile are said to have had visible gold, with this years program having a 100% hit rate. Eight drill rigs are currently operating on site, with the program expanded from 15,000 metres to 36,000 metres.
The newest discovery meanwhile is referred to as the Deep Zone, which was encountered at a depth of 1,239 at the Surebet discovery. The zone is said to have multiple quartz veins with chalcopyrite, galena, and sphalerite. Assays for the discovery remain pending.
“This is proving to be a summer of discovery at Golddigger. The recently discovered Bonanza Zone has delivered a succession of core intercepts displaying visible gold, the most recent of which, hole GD-24-260, appears to be notably rich in gold particles. This might indicate that the Bonanza structure was a main fluid conduit at the time of gold deposition. Also very encouraging, more veins have been discovered at depth, a very promising sign. The mineralogy of these veins is nearly identical to Surebet and other shallower veins, a clear sign they are of the same origin,” commented Quinton Hennigh, director of strategic shareholder Crescat Capital.
The discoveries made this year have led to the company expanding its land package from 66,000 hectares to 91,518 hectares. The discoveries are said to suggest a reduced intrusion-related gold system exists on site, leading to additional land being staked.
Goliath Resources last traded at $1.27 on the TSX Venture.
Information for this story was found via Sedar and the companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
