The mining newspaper for Alaska and Canada's North
North of 60 Mining News - January
Goliath Resources Ltd. Jan. 13 reported that the latest batch of assays from its 2024 drilling at the Golddigger project in Northern British Columbia included one hole that cut 39 meters averaging 34.47 grams per metric ton gold and 3.96 g/t silver in the aptly named Bonanza High-Grade Zone.
Over the past three seasons, Goliath has outlined three high-grade gold zones – Surebet, Bonanza, and Golden Gate – along the 1,800-meter-long Surebet Corridor.
While a resource has yet to be calculated, a geological model completed early in 2023 estimates that these zones together host an estimated 22.9 million cubic meters of mineralized rock averaging 7.74 g/t gold-equivalent, which accounts for the value of both the gold and silver.
This model, however, does not include the results from the drilling completed in 2023 or 2024.
Highlights from the 2023 drilling along the Surebet corridor include:
• 23 meters averaging 18.95 g/t gold and 95.3 g/t silver (21.08 g/t gold-equivalent) in hole GD-23-157.
• 6.9 meters averaging 5.81 g/t gold and 719.1 g/t silver (14.68 g/t gold-equivalent) in hole GD-23-173.
• 7.9 meters averaging 64.88 g/t gold and 8 g/t silver (65 g/t gold-equivalent) in hole GD-23-180.
• 27 meters averaging 11.07 g/t gold and 23 g/t silver (24.83 g/t gold-equivalent) in hole GD23-197.
The 2024 drilling within the Surebet Corridor focused largely on the Bonanza High-Grade Zone, an area believed to be a feeder to the Surebet and Golden Gate zones.
"While other larger structures such as the Surebet Shear and the Golden Gate Zone are important, and should in no way be discounted, the Bonanza Shear is living up to its namesake," said Quinton Hennigh, geologic director at Crescat Capital and a technical advisor to Goliath. "Not only are exceptional gold grades present, but the Bonanza lode, a relatively flat-oriented structure, displays robust thicknesses."
Though the return of assays from the 2024 drill program have been slow for Goliath, the results that have come back have been impressive.
Highlights from the nine 2024 holes previously received include:
• 5.24 meters averaging 34.26 g/t gold and 34.15 g/t silver (35.04 g/t gold-equivalent) in hole GD-24-235.
• 8.95 meters averaging 30.39 g/t gold and 16 g/t silver (30.55 g/t gold-equivalent) in hole GD-24-249.
• Four meters averaging 32.56 g/t gold and 8.92 g/t silver (32.67 g/t gold-equivalent) in hole GD-24-262.
The latest batch of assays is from four holes that cut through the Bonanza, Golden Gate, and Surebet zones, including the 39 meters of greater than one-oz-per-metric-ton-gold in hole GD-24-260.
Hole GD-24-260 cut 3.4 meters averaging 5.39 g/t gold and 9.82 g/t silver (5.51 g/t gold-equivalent) in the Surebet Zone before cutting 39 meters averaging 34.47 g/t gold and 3.96 g/t silver (34.52 g/t gold-equivalent) in the deeper Bonanza High-Grade Zone.
"It's our best ever bonanza-grade drill hole to date," said Goliath Resources CEO Roger Rosmus.
While overshadowed by the bonanza grades in GD-24-260, all four holes included in the latest batch of results cut strong gold mineralization in multiple zones. Highlights include:
• GD-24-242 cut 10.85 meters averaging 4.99 g/t gold and 7.29 g/t silver (5.08 g/t gold-equivalent) in the Surebet Zone; 2.19 meters averaging 2.09 g/t gold and 1.71 g/t silver (5.08 g/t gold-equivalent) in the Bonanza Zone; and 4.11 meters averaging 5.26 g/t gold and 24.61 g/t silver (5.56 g/t gold-equivalent) in the Golden Gate Zone.
• GD-24-252 cut 10.97 meters averaging 5.13 g/t gold and 9.46 g/t silver in the Bonanza Zone; and five meters averaging 3.94 g/t gold and 4.46 g/t silver (3.99 g/t gold-equivalent) in the Golden Gate Zone.
• GD-24-275 cut six meters averaging 4.88 g/t gold and 9.94 g/t silver (5 g/t gold-equivalent) in the Surebet Zone; and 11 meters averaging 11.7 g/t gold and 13.07 g/t silver (12.01 g/t gold-equivalent) in the Bonanza Zone.
"We look forward to outlining the full extent of this world-class discovery with future drilling as it remains wide open in all directions," Rosmus added. "We firmly believe what has been found to date is only a tip of the iceberg."
In the meantime, Goliath awaits assays from 50 holes out of the 64 holes drilled within the Surebet Corridor last year, 29 previously drilled holes that are being relogged, and 12 holes drilled last year at Treasure Island, a gold-rich volcanic-hosted massive sulfide target about 36 kilometers (22 miles) north of the Surebet Corridor.
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