Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) is a junior resource explorer for precious metal in the prolific Golden Triangle of British Columbia and Abitibi Greenstone Belt of Quebec.
In 2021, Goliath successfully completed a 5,332 meter maiden drill campaign on the newly discovered Surebet Zone in the Golden Triangle, BC. 100% of all 24 holes drilled intercepted significant widths of Au-Ag mineralization over 1 km of strike with 1.1 km of down dip extension confirmed.
Goliath is planning to drill ~24,000 meters (85 holes) in 2022. The campaign will include infill drilling and stepping out to test the outer extremities of the Surebet Zone to determine the potential size of this system.
2021 Maiden Drilling Campaign & Exploration Highlights:
* 100% of all 24 holes drilled during the 2021 maiden campaign totaling 5,332 meters intersected significant high-grade gold-silver mineralization over 1 km of strike and 1.1 km of down dip extent.
* Surebet delivers exceptional metallurgical recoveries of 98.2% Gold inclusive of 38.1% Free Gold from gravity.
* The projected footprint is 2,350 meters along the base and 1,350 meters to the top of the system.
* This successful maiden drill campaign confirms the continuity and extensive scale of a high-grade gold-silver polymetallic system that remains open.
* GD-21-03 intersected 6.37 gpt AuEq (4.46 gpt Au and 122.13 gpt Ag) over 35.72 meters*.
* The average grade and width from all 24 holes assayed 6.29 gpt AuEq (4.35 gpt Au and 104.94 gpt Ag) over 5.87 meters*.
* A newly discovered “Extension Target” of widespread high-grade gold-silver polymetallic mineralization outcrop was found 500 meters southeast of the Surebet Zone that is 1200 meters by 400 meters.
* The Extension Target samples are mineralogically, geochemically and texturally similar to the surface and in drill core seen on the Surebet Zone; grabs assayed up to 75.04 gpt AuEq and a channel cut assayed 14.76 gpt AuEq over 0.58 meters.
“Goliath Resource’s execution of a first phase drill program at Surebet has generated a major new gold-silver discovery in the Golden Triangle,” commented Dr. Quinton Hennigh, Advisor and Director of Crescat Capital, a strategic shareholder of Goliath. “The fact that all twenty-four core holes successfully encountered mineralized intercepts across the Surebet Zone is remarkable, and even more so, these holes define a mineralized footprint of 1,000 m strike and 1,100 m down dip extent. The weighted average down hole length and grade of these twenty-four holes is 5.87 m and 6.29 gpt AuEq, respectively. While another robust round of drilling is needed to more fully assess the Surebet Zone, this is a fantastic start and provides an early indication this is a significant new discovery. On top of this stellar drill success, the Company also successfully sampled new areas of mineralization that may prove to be natural extensions of the Surebet mineralizing system, especially to the southeast. If so, this discovery could grow very quickly. We at Crescat are delighted to be a part of this exciting story and eagerly await a new season of aggressive drilling at Surebet.”
Significant shareholders include Eric Sprott and Crescat Capital. Dr. Quinton Hennigh is a technical advisor.