Impact: Positive
Goliath Resources reported visual results from the first hole (GD-24-235) of its 15,000m (62-hole) diamond drill program at the Surebet discovery within its 100%-owned Golddigger Au-Cu project located in the Golden Triangle of BC. The company identified a new deep zone, called the “Mothership Feeder Zone” which is reported to contain abundant VG and strong sulphide mineralization in quartz breccia at 648m downhole. Hole -235 intersected a 12m interval of high vein density from 445m-457m downhole, with multiple quartz-sulphide veins at the contact between sedimentary and volcanic units. It also hit a 24.4m intercept of a porphyritic intrusion from 529.3m-553.7m downhole, while a 10m interval hosting a series of closely spaced quartz-sulphide veins were also observed between 550-650m downhole. These veins contained variable amounts of semi massive to massive pyrite, sphalerite, and pyrrhotite, as well as minor amounts of galena and chalcopyrite. The feeder source of the Surebet system remains wide open for expansion. Overall, the visual observations of porphyritic texture and visible sulphides are what make these results exciting. While visual results are not necessarily indicative of positive assays results, we note that encouraging visual results have translated favourably at the project in the past. We believe that the identification of a more significant feeder zone could provide the project with additional exploration upside potential. We currently model a mineral inventory estimate of between 2.6-3.8M oz AuEq at 4.09 g/t (read initiation report), which only incorporates the veins above a potential feeder source.
