18,000 Meters of Drilling Underway at Goliath’s Extensive New High-Grade Gold-Silver Discovery in the Golden Triangle, B.C.
Dr. Quinton Hennigh, Geologic/Technical Director to Crescat Capital, a strategic shareholder of Goliath commented:
“This year, Goliath will be implementing a well-designed drill program geared toward grade and growth. One of the main focuses of this season’s drilling will be to better delineate and expand high-grade mineralization discovered last year around the eastern side of the Surebet Zone and Bonanza Shear. More information from these areas could contribute substantially to the future mineral resource estimate for the project. Chasing mineralization towards its presumed source at the Golden Gate Feeder Zone is also in the cards. In addition, the Company will undertake maiden drilling at new targets like Goldswarm where outcropping mineralization simulate to Surebet was discovered last year. Lastly, Goliath’s team will conduct intensive boots-on-the-ground work flushing out new targets in areas were early level geochemical sampling points to further discovery potential, especially in the northern part of the Golddigger Project. I am thoroughly excited to see the program begin and am eager to be on site to see the project myself in a few weeks.”
Mr. Roger Rosmus, CEO of Goliath states: “We very pleased that drilling has commenced for another aggressive 2023 drill campaign of 18,000 meters at Golddigger. This years campaign will include a maiden program at our newly discovered mineralized Goldswarm Zone having 650 meters of vertical relief and on strike with the Surebet discovery 4 km to the north that could potentially deliver another material drill discovery on the property. This years exploration campaign also includes developing new high-grade drill targets for 2024 with a focus on many newly seen outcrops popping up at surface within the icefields located in the northern region of our significantly expanded property area. The Golddigger Property is in a geo-political safe mining jurisdiction and key geologic setting where many world-class deposits have been discovered. We look forward to reporting this years exploration and drilling results for a combined total of 20,000 meters in 2023 from the Golddigger and Lucky Strike properties.”
TORONTO, June 12, 2023 (GLOBE NEWSWIRE) -- Goliath Resources Limited (TSX-V: GOT) (OTCQB: GOTRF) (FSE: B4IF) (the “Company” or “Goliath”) is pleased to report 18,000 meters of diamond drilling including a maiden drill program on its newly discovered Goldswarm Zone is underway at its 100% controlled Golddigger Project in the Golden Triangle, B.C. This project is on tide water in a world class geological setting near Stewart, in the Golden Triangle of British Columbia infrastructure near by. The Homestake Ridge Deposit & Dolly Varden Silver Mine (Dolly Varden Silver Corp.), and the Kinskuch Project (Hecla Mining Company) are in close proximity.
Goliath is planned for an aggressive 18,000 meters of drilling this year, totaling 70 holes from 21 separate drill pads on the Golddigger Property. The campaign will be focused on higher-grade zones and expanding the footprint of the newly discovered Surebet Zone/Bonanza Shear to the east-southeast-northeast. Inclusive of this years campaign, there is a maiden drill program planned at its newly discovered Goldswarm Zone 4 km along strike to the north of Surebet Zone having similar mineralization and structures exposed at surface where channel cuts assayed up to 29.70 g/t Au over 0.55 meters, 25.1 gpt Au over 0.40 meters and grabs up to 54.3 g/t Au providing additional upside potential of a new drill discovery in 2023.
The maiden drill campaign in 2021 at the Golddigger Property and follow up drilling program in 2022 is a total of 31,652 meters to date. Drilling to date has a 97% success hit rate as 86 holes of 92 totaling intercepted significant widths of high-grade gold-silver over a 1.6 square kilometer area at Surebet. This area has 1 km of mineralized strike exposed at surface and 1.1 km of mineralized down-dip extent exposed at surface with 700 meters of vertical relief.