Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) is a junior resource exploration company of precious metal projects in the prolific Golden Triangle of British Columbia and Abitibi Greenstone Belt of Quebec.
Both BC properties have returned widespread mineralization of high-grade Gold, Silver and/or Copper numbers from exposed bedrock in situ at surface. These new discoveries are the result of glacial recession and snowpack melting in geological settings where world class deposits have been found within the Golden Triangle and surrounding area.
The Company has discovered the “Surebet Zone”, an extensive new high-grade polymetallic gold-silver shear zone that remains open on its 100% controlled Golddigger property located just southeast of Stewart, British Columbia.
Goliath has completed an aggressive 2022 follow up drill campaign totaling 26,321 meters (86 holes from 20 drill pads) designed for resource level infill drilling as well as testing the outer extremities and at depth of the newly discovered Surebet Zone. Drilling has confirmed the high-grade gold-silver at the Surebet Zone and newly discovered Bonanza Shear. In an area covering 1.6 square kilometres, 97% (or 89 of 92) of widely spaced drill holes intersected broad high-grade intervals of high-grade gold-silver mineralization demonstrating the continuity of this newly discovered large gold system.
The Company has planned for an aggresive 2023 diamond drilling program for up to ~20,000 metres in total: Golddigger Property 18,000 metres & Luck Strike Property ~2,000 metres.
2021 & 2022 Drill Campaign Highlights:
- 273 AuEqgm result from drill hole GD-22-58 at South Cliff Stepout Pad contained Visible Gold and intersected 24.80 gpt AuEq (22.03 gpt Au and 127.62 gpt Ag) over 11.00 meters*, including 38.70 gpt AuEq (34.42 gpt Au and 197.45 gpt Ag) over 7.00 meters* and 44.47 gpt AuEq (39.60 gpt Au and 224.10 gpt Ag) over 6.07 meters*.
- 228 AuEqgm result from drill hole GD-21-03 at Cliff Pad intersected 6.37 gpt AuEq (4.46 gpt Au and 122.13 gpt Ag) over 35.72 meters*, including 31.88 gpt AuEq (24.97 gpt Au and 458.1 gpt Ag) over 4.52 meters*.
- 166 AuEqgm result from drill hole GD-22-49 at Pad A contained Visible Gold and intersected 21.30 gpt AuEq (20.46 gpt Au and 40.06 gpt Ag) over 7.77 meters*, including 27.55 gpt AuEq (26.47 gpt Au and 51.551 gpt Ag) over 6.00 meters*.
- 149 AuEqgm result from drill hole GD-22-100 at Pad 13 intersected 13.53 gpt AuEq (12.10 gpt Au and 54.13 gpt Ag) over 11.00 meters*, including 24.56 gpt AuEq (21.98 gpt Au and 97.94 gpt Ag) over 6.00 meters*.
- 139 AuEqgm result from drill hole GD-22-48 at North Rubble Pad intersected 12.61 gpt AuEq (6.98 gpt Au and 441.59 gpt Ag) over 11.00 meters*, including 15.37 gpt AuEq (8.42 gpt Au and 537.57 Ag) over 9.00 meters*.
- 10 out of 56 drill holes (~20%) from the Surebet Zone horizon intersected greater than 76 AuEqgm, inclusive of 5 drill holes (~10%) intersecting greater than 138 AuEqgm and up to 273 AuEqgm.
- The current Surebet Zone and Bonanza Shear modeled areas are 5,500,000 m3 (Avg. 6.88 meters* @ 6.31 g/t AuEq) and >13,000,000 m3 (Avg. 5.31 meters* @ 2.7 AuEq) respectively.
- Exceptional metallurgical recoveries of 92.2% Gold from gravity & flotation, inclusive of 48.8% Free Gold from gravity at a 327 micron crush; no deleterious minerals or cyanide required.
- Colorado School of Mines has confirmed an extensive porphyry feeder source at depth for the high-grade gold-silver mineralising fluids at Surebet providing excellent potential for additional upside drill discovery and expansion at depth.
- Based on 2022 positive grass roots exploration and drill results, Goliath significantly increased its land package from 23,859 hectares to 59,089 hectares, and now controls 56 kilometers of key terrain of the Red Line providing for additional upside discovery potential.
Responsible Mineral Development
Goliath Resources Limited is committed to working shoulder to shoulder with its stakeholders to achieve responsible development of its projects, and to contribute to the sustainable development of the communities in which we work. Our work programs are all carefully planned to achieve high levels of environmental and social performance.
* The stated mineralized lengths in meters are downhole core lengths and estimated to be 80-90% true widths. AuEq metal values are calculated using: Au 1792.60 USD/oz, Ag 23.13 USD/oz, Cu 4.37 USD/lbs, Pb 1.05 USD/lbs and Zn 1.52 USD/lbs on November 28, 2021. There is potential for economic recovery of gold, silver, copper, lead, and zinc from these occurrences based on other mining and exploration projects in the same Golden Triangle Mining Camp where Goliath’s project is located such as the Homestake Ridge Gold Project (Auryn Resources Technical Report, Updated Mineral Resource Estimate and Preliminary Economic Assessment on the Homestake Ridge Gold Project, prepared by Minefill Services Inc. (Bothell, Washington), dated May 29, 2020. Here, AuEq values were calculated using 3-year running averages for metal price, and included provisions for metallurgical recoveries, treatment charges, refining costs, and transportation. Recoveries for Gold were 85.5%, Silver at 74.6%, Copper at 74.6% and Lead at 45.3%. It will be assumed that Zinc can be recovered with the Copper at the same recovery rate of 74.6%. The quoted reference of metallurgical recoveries is not from Goliath’s Golddigger Project, Surebet Zone mineralization, and there is no guarantee that such recoveries will ever be achieved, unless detailed metallurgical work such as in a Feasibility Study can be eventually completed on the Golddigger Project.