Goliath launches major Golden Triangle drill program

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Goliath Resources Ltd. [GOT-TSXV, GOTRF-OTCQB, B41F-FSE] has mobilized for a 24,000-metre diamond drilling campaign on a high-grade gold-silver discovery at the company’s 100%-owned Golddigger project in British Columbia.

The announcement comes after Goliath raised $14.6 million from an offering of flow-through units priced at $1.19 each, money that has enabled Goliath to significantly expand the 2022 drill campaign at the newly discovered Surebet Zone on its Golddigger property, which is located in British Columbia’s Golden Triangle region.

 Goliath has an option to acquire a 100% interest in the Golddigger project, which covers an area of 23,859 hectares and is located on tide water, 30 kilometres southeast of Stewart, B.C.

The Homestake Ridge Deposit (Fury Gold Mines Ltd. [FURY-TSX, NYSE American]), Dolly Varden Silver Mine (Dolly Varden Silver Corp. [DV-TSXV, DOLLF-OTCBB]), and KInskuch Project (Hecla Mining [HL-NYSE]) are all in close proximity.

The company has discovered a new high-grade polymetallic gold-silver shear zone known as the Surebet Zone at Golddigger. Surebet is characterized by a series of northwest-southeast-trending structures that occur within a package of Hazelton Group sediments underlain by Hazelton volcanics.

LIDAR imagery, drone imagery, and field observations have identified several additional paralleling structures.

Goliath completed a 5,332-metre maiden drill campaign in 2021, where 100% of all 24 holes intercepted significant mineralization over 1.0 kilometre of strike and 1.1 kilometres of down dip extension of the Surebet discovery.

The average grade and width from the best hole from each seven widely spaced drill pads assayed 9.42 g/t gold equivalent (6.66 g/t gold and 172.66 g/t silver over 6.43 metres respectively. The company said these positive results confirm the continuity and scale of an extensive high-grade gold-silver polymetallic system that remains open.

“We have identified multiple strong drill targets focussed on significantly expanding the potential size of this system that remains open,’’ said Goliath CEO Roger Rosmus. The Surebet Zone potential has been compared to the past-producing high-grade Silbak Premier Mine just to the north and certainly has the early makings of the next big discovery in Golden Triangle,” Rosmus said.

Goliath has planned for a 24,000-metre drill campaign totaling 85 holes from 24 separate drill pads targeting the extensive high-grade silver structure discovery exposed at surface at the Surebet Zone, both along strike and at depth.

Drilling at the Surebet zone this year will include drill testing the outer extremities of the zone to determine the potential size of the system as well as the newly discovered adjacent Extension target to the southeast.

Goliath Resources is an explorer of precious metals projects in the Golden Triangle as well as the Abitibi greenstone belt of Quebec.

On May 17, 2022, Goliath shares closed at $1.21 and are currently trading in a 52-week range of $1.62 and 62 cents.


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