Goliath drills 24.64 g/t AuEq over 5 metres at Golddigger, British Columbia

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Goliath Resources Ltd. [GOT-TSXV; GOTRF-OTCQB; B4IF-FSE] reported the second batch of assay results of the 2022 drill campaign on the Surebet zone discovery at its 100%-controlled Golddigger property in the Golden Triangle, northwestern British Columbia. Fifteen out of 16 newly reported holes from within the 1.6 km2 area on the Surebet Zone intersected broad intervals of high-grade gold-silver mineralization demonstrating the continuity of this newly discovered large gold system.

Drilling highlights: Hole GD-22-80 collared from Pad 3 (1,000 metres step-out to the West from Surebet Main) intersected high-grade gold mineralization containing 117.21 g/t AuEq (gold equivalent) (115.00 g/t gold and 28.50 g/t silver) over 1 metre within 24.64 g/t AuEq (23.17 g/t gold and 6.32 g/t silver) over 5.00 metres.

All 24 holes drilled during the 2021 maiden campaign totalling 5,332 meters intersected significant high-grade gold-silver mineralization over 1 km of strike and 1.1 km of down dip extent. GD-21-03 intersected 6.37 g/t AuEq (4.46 g/t gold and 122.13 g/t silver) over 35.72 metres. The average grade and width from all 24 holes assayed 6.29 g/t AuEq (4.35 g/t gold and 104.94 g/t silver) over 5.87 metres respectively, demonstrating excellent continuity of the Surebet Zone and grades.

A total of 42 out of 44 widely-spaced holes from the 2022 program that have received assays to date from within the 1.6 km2 area of the Surebet Zone intersected broad high-grade intervals of gold-silver mineralization demonstrating the continuity of this newly discovered large gold system in the Golden Triangle, British Columbia; two holes drilled into dykes.

Drill results reported to date from both the maiden drill campaign in 2021 and infill drilling campaign in 2022 confirm strong gold mineralization in 66 of 68 holes (97% hit rate) assayed from within the 1.6 square kilometer Surebet Zone are that remains open.

Assays from 66 drill holes to date has confirmed a 97% drilling hit rate and strong gold mineralization on the Surebet Zone that covering at least 1.6 km2 which remains open. Results to date demonstrate its part of a much larger gold mineralized system covering at least 5.25 km2 that also remains open. The assays results received to date confirm the high-grade Surebet Zone is demarked by an area that spans from North Rubble, west-southwest 1.2 km to Pad 1 (that remains open to the North and West), southwest 750 metres to Pad 11 and east 750 metres to Pad A (which remains open to the East and East-Southeast).

Assays for the final drill 27 holes still pending will be included in Batch 3 are expected to be released in the near future. Goliath has recently more than doubled its land package from 23,859 hectares to 52,756 hectares.

The Golddigger property is near the communities of Alice Arm and Kitsault situated on tide water with direct barge access to Prince Rupert (190 km via the Observatory inlet/Portland inlet). The town of Kitsault is accessible by road and has a barge landing, dock, and infrastructure capable of housing at least 300 people, including high-tension power.

Additional infrastructure in the area includes the Dolly Varden Silver Mine access road (only 8 km east of the Surebet discovery) with direct road access to Alice Arm barge landing (18 km the south of the Surebet discovery) and high-tension power (25 km east of Surebet discovery). Terrace provides access to railway, major highways, and airport with supplies (food, fuel, lumber, etc.), while Prince Rupert houses an international container seaport also with direct access to railway and an airport with supplies (food, fuel, lumber, etc.).

Roger Rosmus, Founder and CEO, stated: “Assays from within the 1.6 km2 Surebet Zone are confirming exceptional results with a 97% hit rate with 66 out of 68 holes reported to date intersecting significant widths and grades of gold mineralization. This demonstrates incredible continuity of this discovery that has excellent metallurgy with a 98.2% gold recovery with zero deleterious elements all near major infrastructure.

“This is an exceptional result for an original discovery that has advanced at an incredible rate considering that the maiden exploratory drill program started just over a year ago in the summer of 2021 and the total field time to date on the Surebet discovery is just 6 months for both 2021 and 2022 combined has provided an excellent ROI for its shareholders. Based on these promising results seen in both grade and geometry, this is quickly evolving into a new world-class high-grade gold discovery. We have commissioned additional metallurgical testing (initial metallurgical work showed 38.1% free gold and excellent recovery’s using simple gravity) and an environmental baseline study focused on moving the project forward towards potential future development. The Surebet Discovery has garnered the interest from several miners and institutions alike. We look forward to reporting assays on the remaining 27 holes in batch three from our 2022 drill campaign with much anticipation.”

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