Jun 23 2021
Goliath Resources Ltd. has announced the completion of a high-resolution geophysical survey, spanning a 16-km2 region that includes and surrounds the Surebet Zone — a recently discovered high-grade gold-silver zone on its fully controlled Golddigger property located in the Golden Triangle, British Columbia (BC).
Currently, the Surebet Zone includes 500 m of vertical relief, 1000 m of strike and 1000 m of down-dip extent that remains exposed to an average true width of 9.84 m grading 10.68 g/t AuEq (7.59 g/t AU).
The high-resolution geophysical survey covered a 16-km2 region (4 x 4 km) encompassing the scheduled 2021 new drill program of 5000 m from up to 14 individual drill pads and enclosing an area that has a strong potential of high-grade gold-silver. A helicopter was flown over the Surebet Zone in a systematic low-level (50 m) grid pattern with 50-m line spacing by Precision GeoSurveys.
This survey was designed to help trace the open gold-silver bearing system to depth and where it is enclosed by overburden. Once the data is modeled, it would be handy for tracing prospective new zones beyond the scope of 2021’s maiden drill program for further follow-up.
The Golddigger property is located in a world-class geological setting and spans 23,859 ha (59,646 acres). It is located in tidewater 30 km southeast of Stewart BC in the Golden Triangle and just 7 km west of the Dolly Varden Mine access road, thus enabling cost-effective exploration.
The recently discovered Surebet Zone is situated approximately 8 km southwest of Fury Gold’s Homestake Ridge deposit — a high-grade gold-silver resource estimate (M&I) comprising 19600000 oz of silver at 97.7 g/t and 982,700 oz of gold at 4.99 g/t, with drill intercepts of up to 73 m of 12 g/t silver and 21 g/t gold.
Numerous high-grade polymetallic gold-silver targets were also identified along 1 km (1000 m) of strike at the surface and 0.5 km (500 m) of vertical relief with an average true width of 9.84 m assaying a gold equivalent (AuEq) of 10.68 gpt and 7.59 g per ton gold (gpt Au) with 1 km (1000 m) of inferred down-dip extent.
The Surebet Zone targets are limited to a shear zone and will be assessed for the first time in the 2021 drill program. The high-grade polymetallic gold-silver mineralization is held within a wide alteration halo of strongly silicified Hazelton Group sediments of up to 43.5 m wide comprising mineralization assaying less than 0.5 g/t AuEq.
The Surebet Zone is defined by an array of NW-SE trending structures occurring within a package of Hazelton group sediments underlain by Hazelton volcanic and lies within 2 km of the Red Line.
Several more paralleling structures within a 4 km2 region were discovered through drone imagery, Lidar imagery and field observations. The presence of high-grade, gold-silver polymetallic mineralization inside these structures was confirmed through geochemical analyses.
Goliath Resources has granted stock options for a total of its 75,000 common shares to an Advisor. These options can be exercised at $0.92 each, which was the closing cost on June 21st, 2021. The stock options will expire June 22nd, 2026, and are controlled by the Goliath Resources’ stock option plan.