FULL DISCLOSURE: Canacom Group is long the equity of Goliath Resources.
Goliath Resources Limited (TSXV: GOT) has cut 26.80 g/t gold over 2.30 metres from the volcanic Wedge Zone at its Surebet discovery. The result extends a newly defined domain that links the Bonanza and Golden Gate zones in British Columbia’s Golden Triangle.
The interval, from hole GD-26-462, sits within 4.32 metres grading 14.28 g/t gold in the northeast step-out drilled earlier this season. Gold equivalent assays for the hole are pending.
Highlights from the four holes include:
- GD-26-462: 14.28 g/t gold over 4.32 metres from a depth of 442.18 metres,
- including 26.80 g/t gold over 2.30 metres
- And 9.31 g/t gold over 3.65 metres from a depth of 480.60 metres
- GD-26-417: 0.55 g/t gold equivalent over 58.00 metres from a depth of 214.00 metres
- And 2.22 g/t gold equivalent over 5.00 metres from a depth of 285.00 metres
- GD-26-425: 1.02 g/t gold equivalent over 23.20 metres from a depth of 299.80 metres
- GD-26-440: 0.66 g/t gold over 24.97 metres from a depth of 402.13 metres
Goliath’s case for the zone rests on volume rather than grade. The company says the lower-grade veinlet networks tie the higher-grade zones into a larger body of rock that could suit underground bulk mining.
The latest holes place the Wedge Zone in the west, northeast and south of the system, adding to two domains flagged in late August. Roughly 900 metres of volcanics between the western and southwestern domains remains untested.
“This is another important piece of the bigger picture that is unfolding at the Surebet Discovery as we continue to test for the Motherlode Causative Intrusive source. Based on these positive results, there appears to be an opportunity to add significant volumes of mineralization to the Surebet system,” said founder and CEO Roger Rosmus.
Drilling this year has already grown the Golden Gate Zone to 1.17 square kilometres from 0.85 and the Bonanza Zone to 1.51 square kilometres from 1.27. That lifts the overall Surebet footprint to 2.01 square kilometres.
The fully funded 50,000 metre program continues with seven rigs, and Rosmus expects assays to keep flowing into the new year.
Goliath Resources last traded at $1.64 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.
