Goliath Resources (TSX-V: GOT) says it’s found as much as 1% visible gold in three stacked zones on its Golddigger property in northern British Columbia.
Drill hole GD-23-197 intersected 19.1 metres of the sulphide-rich mineralized Surebet Zone, Bonanza Shear and the Golden Gate Zone, three shear zones that remain open, the Vancouver-based company said in a release on Thursday. The abundance of nuggets up to 4 mm across in Golden Gate suggests it’s a mineralized pathway to the other zones, it said.
“All the occurrences of visible gold to date have been identified within quartz-breccia and veins in contact with or in close proximity to sphalerite and/or galena mineralization,” the company said.
“The occurrence of visible gold has previously been independently confirmed in 2022 by the Colorado School of Mines with whom the company is collaborating on a project aimed at determining the origin and evolution of the gold mineralizing fluids at Surebet.”
Golddigger covers 617 sq. km. in the southern Eskay rift area of B.C.’s Golden Triangle mining zone where Tudor Gold (TSXV: TUD) is developing Treaty Creek, one of Mining Intelligence’s top 10 biggest gold projects in the world. North of Golddigger, Seabridge Gold (TSX: SEA; NYSE: SA) has the KSM property and Newcrest Mining (TSX: NCM; ASX: NCM), being taken over by Newmont (TSX: NGT; NYSE: NEM), runs the Brucejack mine.
Drilling this year on Surebet saw 33 of 90 holes intersect visible gold, delineating a 1.6-sq.-km mineralization area, Goliath said. All but two holes intersected either Surebet or Bonanza Shear.
Surebet is estimated to be 5.5 million cubic metres averaging 6.9 metres grading 6.3 grams gold equivalent per tonne, while Bonanza Shear is modeled at more than 13 million cubic metres averaging 5.3 metres grading 2.7 grams gold equivalent, the company said.
The project has barge access to Prince Rupert 190 km to the south and road access to the nearby town of Kitsault. Dolly Varden Silver’s (TSXV: DV) mine access road is 7 km east of Surebet and there is high-tension power 25 km east.
Surebet is characterized by a series of northwest to southwest trending structures that occur within a package of Hazelton Group sediments over Hazelton volcanics, Goliath says. This year’s drilling program was for up to 20,000 metres including 18,000 metres on Golddigger and 2,000 metres on its Lucky Strike project.
Goliath holds 49% of Lucky Strike, located south of the Golden Triangle and 40 km north of Terrace, B.C., and has an option to acquire the rest of the 315-sq.-km project. It drilled three holes on its Lorne Creek gold-copper-silver porphyry system in 2021.
Shares in Goliath Resources rose 7.8%, or 0.5¢, on Thursday in Toronto to 69¢ apiece, within a 52-week range of 53¢ to $1.74, valuing the company at $58.8 million.