Drill Highlights:
- 100% of all holes completed to date on the Surebet discovery have intersected significant zones of sulphide mineralization confirming a mineralized footprint of 5.25 square kilometers; system remains wide open in all directions (see map below). Assays are pending on all 2022 drill holes and will be reported once received compiled and interpreted.
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6643e473-e7ff-44b2-a54b-e6a70a606305
- Hole GD-22-31 collared from Pad 15 (1344 meters step-out from Surebet Main) intersected 2 intervals of robust sulphide mineralization from 16.43 meters to 18.38 meters (interval 1.95 meters*) and from 160.90 meters to 220.00 meters (interval 59.10 meters*) (see image below). Mineralization primarily consists of fracture-fill stringers of pyrrhotite and pyrite, hosted in porphyritic andesite. A second interval intersected 98.99 meters of mainly disseminated sulphide mineralization associated with quartz-chlorite-epidote veining from 3.17 meters to 102.16 meters (98.99 meter* interval).
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a53dabfc-54dc-4a6a-85e2-cbe0ff6e9569
- Hole GD-22-38 drilled from Pad 11 (1344 meters step-out from Surebet Main) intersected a significant interval of continuous breccia and vein stockwork containing sulphide mineralization from 43.00 meters to 81.70 meters (38.7 meters* interval) consisting of stringers and aggregations of semi-massive to massive pyrrhotite, chalcopyrite and pyrite (see image below).
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/039aae55-dc70-4455-b449-710677424f35
- Hole GD-22-39 collared from Pad A (1205 meters step-out from Surebet Main) intersected 28.20 meters* of sulphides, quartz veining and brecciation hosted in siltstone from 81.10 meters to 110.00 meters containing interstitial pyrrhotite, galena, sphalerite and chalcopyrite in veins and stringers (see image below).
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c56c336f-8001-46f4-a580-0db4ab493d09
- Hole GD-22-37 collared from Pad 9 (1430 meters step-out from Surebet Main) contains 14.74 meters* of significant sulphide mineralization hosted in a siltstone unit containing quartz veinlets with interstitial to net-textured pyrrhotite, sphalerite and pyrite from 58.56 meters to 73.30 meters. It also contains a section of porphyritic andesite with pyrrhotite-pyrite stringer and disseminated sulphides from 170.00 meters to 192.00 meters (interval 22 meters*), past the contact between sediments and underlying volcanic rocks (see image below).
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a25e3e45-ea3d-48f0-b224-95dd22fbf3e2
- Hole GD-22-45 drilled from
Lake Pad (1642 meters step-out from Surebet Main) intersected 2 intervals of mineralized quartz breccia hosted in sandstone and containing interstitial pyrrhotite and pyrite from 40.07 meters to 42.62 meters (interval 2.55 meters*) and from 167.07 meters to 168.61 meters (interval 1.54 meters*) (see image below).- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0cbd3f1e-3394-4667-91ba-1a35432167ae
Previously reported 2022 drill hole highlights:
- Hole GD-22-30 drilled from the New Gold Pad (North Extension) intersected broad zones of significant sulphide mineralization including continuous mineralized breccia from surface up to 360 meters* (see image below).
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f6e97c1e-4997-464e-afbd-eb6f77edf1f4
- Drill hole GD-22-26 on Pad J in the
New East Extension Zone intersected a broad zone containing 135 meters* of vein/breccia-hosted and disseminated sulphide mineralization in volcanic rocks from bedrock (30 m) to the end of the hole (165 m) consisting of pyrrhotite, chalcopyrite and pyrite. The hole terminated in sulphide mineralization and remains open (see image below).- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/679d4c3c-53ed-4467-b9aa-bb18e3878235
Observations:
- Two distinct styles of mineralization have been observed: 1) sulphide mineralization occurring in quartz veins, stockwork and/or breccia, and 2) sulphide mineralization occurring in the host rock (sediments or volcanics).
- The drilling and data continue to demonstrate the presence of an extensive mineralizing system drilled and confirmed over and area of 5.25 square kilometers that remains open in all directions. Assays are pending and will be released once received, compiled, and interpreted.
- The extensive mineralizing system has been confirmed over 2.5 km North-South (between Pad J and New Gold located 1 km North of North Rubble) and 2.1 km East-West (between
Lake Pad and Pad J located in the Extension Target) (see map above). The system remains open in all directions. - Due to the extent of the mineralized intercepts observed at Pad A and Pad J, the technical team recommended to drill 3 additional holes from the newly added Pad G in the
New Extension Zone . - The 2022 drill program is focused on expanding the known parameters of the Surebet high-grade gold-silver discovery with ~ 27,000 m of drilling planned in 86 holes from 25 pad locations using 5 drill rigs. The program is designed for resource level infill drilling and outline the large mineralized system over an area of 2.1 km East-West by 2.5 km North-South (5.25 square kilometers).
- 100% of all 24 holes drilled during the 2021 maiden campaign totalling 5,332 meters intersected significant high-grade gold-silver mineralization over 1 km of strike and 1.1 km of down dip extent. GD-21-03 intersected 6.37 gpt AuEq (4.46 gpt Au and 122.13 gpt Ag) over 35.72 meters*. The average grade and width from all 24 holes assayed 6.29 gpt AuEq (4.35 gpt Au and 104.94 gpt Ag) over 5.87 meters* respectively.
Two distinct styles of mineralization have been observed: 1) sulphide mineralization occurring in quartz veins, stockwork and/or breccia, and 2) sulphide mineralization occurring in the host rock (sediments or volcanics). Drill holes GD-22-39, GD-22-42, GD-22-47, GD-22-49 and GD-22-50 collared from Pad A, and GD-22-40, GD-22-43 and GD-22-45 collared from
Drill interval highlights
Pad ID | Hole ID | From (m) | To (m) | Length (m) | Lithology | Mineralization | Textures |
15 | GD-22-28 | 4.67 | 33.35 | 28.68 | Mineralized Volcanics (Vein/Breccia/Stockwork) | Pyrrhotite-Pyrite | Disseminated/Veins/Stringer |
GD-22-29 | 124.81 | 140.22 | 15.41 | Mineralized Volcanics (Vein/Breccia/Stockwork) | Pyrrhotite-Pyrite | Disseminated/Veins/Semi-massive/Stringer | |
165.1 | 175.46 | 10.36 | Mineralized Volcanics (Vein/Breccia/Stockwork) | Pyrrhotite-Pyrite | Disseminated/Veins/Semi-massive/Stringer | ||
GD-22-31 | 16.43 | 18.38 | 1.95 | Mineralized Volcanics (Vein/Breccia/Stockwork) | Pyrrhotite-Chalcopyrite-Pyrite | Disseminated/Veins/Semi-massive/Stringer | |
160.9 | 220 | 59.10 | Mineralized Volcanics (Vein/Breccia/Stockwork) | Pyrrhotite-Chalcopyrite-Pyrite | Disseminated/Veins/Semi-massive/Stringer | ||
9 | GD-22-32 | 110.66 | 128.1 | 17.44 | Quartz-Sulfide (Vein/Breccia) | Pyrrhotite-Pyrite | Disseminated/Veins/Stringer |
GD-22-34 | 209.4 | 230.4 | 21.00 | Mineralized Volcanics (Vein/Breccia/Stockwork) | Pyrrhotite-Sphalerite-Pyrite | Disseminated/Veins/Stringer | |
230.4 | 240 | 9.60 | Quartz-Sulfide Vein/Breccia/Stockwork | Pyrrhotite-Sphalerite-Pyrite | Disseminated/Veins/Stringer | ||
GD-22-37 | 58.56 | 73.3 | 14.74 | Quartz-Sulfide (Vein/Breccia) | Pyrrhotite-Sphalerite-Pyrite | Disseminated/Veins/Stringer | |
170 | 192 | 22.00 | Mineralized Volcanics (Vein/Breccia/Stockwork) | Pyrrhotite-Sphalerite-Pyrite | Disseminated/Veins/Stringer | ||
11 | GD-22-36 | 45 | 86 | 41.00 | Quartz-Sulfide (Vein/Breccia) | Pyrrhotite-Pyrite | Disseminated/Veins/Semi-massive/Stringer |
243 | 246 | 3.00 | Mineralized Volcanics (Vein/Breccia/Stockwork) | Pyrrhotite-Pyrite | Disseminated/Veins/Semi-massive/Stringer | ||
GD-22-38 | 43 | 81.7 | 38.70 | Quartz-Sulfide (Vein/Breccia/Stockwork) | Pyrrhotite-Chalcopyrite-Pyrite | Disseminated/Veins/Semi-massive/Stringer | |
GD-22-41 | 38.6 | 41.4 | 2.80 | Quartz-Sulfide Vein/Breccia/Stockwork | Pyrrhotite-Pyrite | Disseminated/Veins/Semi-massive/Stringer | |
203.37 | 209.16 | 5.79 | Mineralized Volcanics (Vein/Breccia/Stockwork) | Pyrrhotite-Pyrite | Disseminated/Veins/Semi-massive/Stringer | ||
GD-22-44 | 29.84 | 30.75 | 0.91 | Quartz-Sulfide (Vein/Breccia/Stockwork) | Pyrrhotite-Pyrite | Disseminated/Veins/Semi-massive/Stringer | |
176.9 | 195.6 | 18.70 | Mineralized Volcanics (Vein/Breccia/Stockwork) | Pyrrhotite-Pyrite | Disseminated/Veins/Semi-massive/Stringer | ||
A | GD-22-39 | 81.8 | 110 | 28.20 | Quartz-Sulfide (Vein/Breccia/Stockwork) | Pyrrhotite-Galena-Sphalerite-Chalcopyrite | Disseminated/Veins/Semi-massive/Stringer |
GD-22-42 | 80.19 | 97.5 | 17.31 | Quartz-Sulfide (Vein/Breccia/Stockwork) | Pyrrhotite-Galena-Sphalerite-Chalcopyrite | Disseminated/Veins/Semi-massive/Stringer | |
GD-22-47 | 66.55 | 74.92 | 8.37 | Quartz-Sulfide (Vein/Breccia/Stockwork) | Pyrrhotite-Galena-Sphalerite-Chalcopyrite | Disseminated/Veins/Semi-massive/Stringer | |
GD-22-49 | 69.17 | 77.31 | 8.14 | Quartz-Sulfide (Vein/Breccia/Stockwork) | Pyrrhotite-Galena-Sphalerite-Chalcopyrite | Disseminated/Veins/Semi-massive/Stringer | |
99.82 | 99.95 | 0.13 | Quartz-Sulfide (Vein/Breccia/Stockwork) | Pyrrhotite-Galena-Sphalerite-Chalcopyrite | Disseminated/Veins/Semi-massive/Stringer | ||
113.67 | 117.17 | 3.50 | Quartz-Sulfide (Vein/Breccia) | Pyrrhotite-Galena-Sphalerite-Chalcopyrite | Disseminated/Veins/Semi-massive/Stringer | ||
GD-22-50 | 64.27 | 75.62 | 11.35 | Quartz-Sulfide (Vein/Breccia/Stockwork) | Pyrrhotite-Galena-Sphalerite-Chalcopyrite | Disseminated/Veins/Semi-massive/Stringer | |
105 | 109 | 4.00 | Quartz-Sulfide (Vein/Breccia) | Pyrrhotite-Galena-Sphalerite-Chalcopyrite | Disseminated/Veins/Semi-massive/Stringer | ||
Lake | GD-22-40 | 138.5 | 139.5 | 1.00 | Quartz-Sulfide (Vein/Breccia/Stockwork) | Pyrrhotite-Chalcopyrite-Pyrite | Disseminated/Veins/Stringer |
GD-22-43 | 102 | 104.75 | 2.75 | Quartz-Sulfide (Vein/Breccia/Stockwork) | Pyrrhotite-Pyrite | Disseminated/Veins/Stringer | |
GD-22-45 | 40.07 | 42.62 | 2.55 | Quartz-Sulfide (Vein/Breccia/Stockwork) | Pyrrhotite-Pyrite | Disseminated/Veins/Stringer | |
167.07 | 168.61 | 1.54 | Quartz-Sulfide (Vein/Breccia/Stockwork) | Pyrrhotite-Pyrite | Disseminated/Veins/Stringer |
Assays are pending on all 2022 drill holes and will be reported once received compiled and interpreted.
2022 drill campaign
During the 2022 drill campaign, Goliath plans to test the Surebet mineralized system at depth over an extensive area reaching as far as
Due to the extent of the mineralized intercepts observed at Pad J and Pad A, the company has decided to drill 3 additional holes from the newly built Pad G.
Golddigger Property
The Golddigger Property is 100 % controlled covering an area of 23,859 hectares (59,646 acres or 239 square-kilometers) and is in the world class geological setting of the Eskay Rift within
Surebet is characterized by a series of NW-SE trending structures that occur within a package of
LiDAR imagery, drone imagery, and field observations have identified several additional paralleling structures within a 4 square-kilometers area. Geochemical analyses have confirmed high-grade gold-silver polymetallic mineralization within these structures. The steeply dipping Real Deal and Cloud 9 structures, as well as the off-shoot structures from the
Qualified Person
Other
All rock, channel and talus fine samples were crushed and pulverized at MSALABS's laboratory in
The reader is cautioned that grab samples are spot samples which are typically, but not exclusively, constrained to mineralization. Grab samples are selective in nature and collected to determine the presence or absence of mineralization and are not intended to be representative of the material sampled.
About
Goliath Resources Limited is an explorer of precious metals projects in the prolific
For more information please contact:
Mr.
Founder and CEO
Tel: +1-416-488-2887 x222
roger@goliathresources.com
www.goliathresourcesltd.com
* Widths are reported in drill core lengths and the true widths are not known. AuEq metal values are calculated using: Au
Neither the
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on Goliath’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to, among other things, the ability of Company to complete the financings and its ability to build value for its shareholders as it develops its mining properties. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to Goliath. Although such statements are based on management's reasonable assumptions, there can be no assurance that the proposed transactions will occur, or that if the proposed transactions do occur, will be completed on the terms described above.
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