Drill Highlights:
Classic Surebet Zone mineralization has been confirmed in 64 holes drilled from 16 pads encompassing a 1.4 square kilometer area that consists of a combination of galena, sphalerite and pyrrhotite in semi-massive to massive veins, stringers, interstitial within brecciated zones and/or as stringers throughout the core; it remains open in all directions (see map below).- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/41159f89-5baa-4c6b-93d3-a0ba91b7d981
- Hole GD-22-79 collared from Pad 1 (1.2 km step-out to the West from Surebet Main) intersected a 46.24 meter* interval consisting of quartz stockwork and breccia with strong interstitial-breccia galena (locally up to 10 %), sphalerite (locally up to 30 %) and pyrrhotite (locally up to 30 %), the zone remains open.
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/90f85bd9-ea32-4bc2-addb-48a347888793
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/90f85bd9-ea32-4bc2-addb-48a347888793
- Hole GD-22-83 collared from Pad 17 (150 meters South of Surebet Main) intersected multiple mineralized intervals including a 17.65 meter* and a 51.60 meter* interval consisting of quartz veining, stockwork and breccia with strong localized interstitial-stockwork galena (locally up to 5%), sphalerite (locally up to 5%) and pyrrhotite (locally up to 10%) the zone remains open.
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/703ed5fe-7b9e-4be2-8f9b-a7d9d7150bc3
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/703ed5fe-7b9e-4be2-8f9b-a7d9d7150bc3
- Hole GD-22-77 collared from Pad 10 (600 meters step-out to the West from Surebet Main) intersected two mineralized intervals including a 10.26 meter* and a 34.52 meter* interval consisting of quartz veining, stockwork and breccia with interstitial-stockwork to semi-massive galena (locally up to 4%), sphalerite (locally up to 7%) and pyrrhotite (locally up to 5%), the zone remains open.
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8eb00e08-eeef-4e01-bce1-81ce7e46c1b7
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8eb00e08-eeef-4e01-bce1-81ce7e46c1b7
- Hole GD-22-60 collared from Pad 8 (750 meters step-out to the West from Surebet Main) intersected a 14.19 meter* interval consisting of massive galena veins and stringers (up to 8%), massive to stringer sphalerite (up to 5%) and intergrown blebby aggregates of pyrrhotite (up to 1%), the zone remains open.
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/afb9e5ec-3917-4db2-84f8-8f6dcd0a1822
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/afb9e5ec-3917-4db2-84f8-8f6dcd0a1822
- Hole GD-22-63 collared from Midwest Pad (300 meters step-out to the West from Surebet Main) intersected a 10.13 meter* interval consisting of quartz veining, stockwork and breccia with semi-massive and stringers of galena (locally up to 8%), sphalerite (locally up to 10%) and pyrrhotite (locally up to 10%), the zone remains open.
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/47c573b1-ac2a-4575-b5e1-89096294f1f8
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/47c573b1-ac2a-4575-b5e1-89096294f1f8
- Hole GD-22-65 collared from Northwest Pad (500 meters step-out to the Northwest from Surebet Main) intersected a 12.44 meter* interval consisting of quartz veining and stockwork with localized interstitial-stockwork galena (locally up to 2%), sphalerite (locally up to 5%) and pyrrhotite (locally up to 5%), the zone remains open.
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b9193f00-a39e-4936-9be7-0b0cae182ea4
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b9193f00-a39e-4936-9be7-0b0cae182ea4
- Hole GD-22-36 collared from Pad 11 (950 meters Southwest of Surebet Main) intersected multiple mineralized intervals including a 42.00 meter* interval hosted in the Hazelton Sediment units and a 3.00 meter* interval hosted in the Hazelton Volcanic flows. Both mineralized intervals consist of quartz veining, stockwork and breccia with interstitial-stockwork and stringers of pyrrhotite (locally up to 5%), sphalerite (locally up to 4%) and galena (locally up to 2 %), the zone remains open.
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cff315f8-a638-455f-b5d1-9824d6243be8
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cff315f8-a638-455f-b5d1-9824d6243be8
- Hole GD-22-50 collared from Pad A (750 meters step-out to the South from Surebet Main, across the Northeast Fault) on the new Surebet East Extension zone intersected two mineralized intervals including a 11.35 meter* interval in the Hazelton Sediments and a 4 meter* interval in the
Hazelton volcanics consisting of quartz veining, stockwork and breccia with localized interstitial-stockwork galena (up to 3%), sphalerite (up to 5%) and pyrrhotite (up to 7%); the zone remains open. This hole intersected classicSurebet Zone style mineralization on both sides of the Northeast Fault; an additional pad has been added 300 meters to the East to drill-test an area where galena has been observed in outcrop.- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/20ee6dde-6770-4305-a8f9-e202de9489c9
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b39d1510-98e7-4217-a467-e9caa4ecf597
- Hole GD-22-53 collared from the South Cliff Step-out Pad (300 meters step-out to the West from Surebet Main) intersected a 67.59 meter* interval consisting of quartz veining, stockwork and breccia with strong localized interstitial-stockwork pyrrhotite (locally up to 10%), sphalerite (locally up to 5%) and galena (locally up to 2%), the zone remains open.
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3007e0de-8b42-48e3-9a2b-96c9865f5f88
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3007e0de-8b42-48e3-9a2b-96c9865f5f88
- Hole GD-22-68 collared from Pad 16 (400 meters step-out to the Southwest from Surebet Main) intersected two mineralized intervals inclusive of a 21.38 meter* and a 9.18 meter* interval consisting of quartz-sulphide stockwork and veins with aggregates and stringers of galena (locally up to 10%), sphalerite (locally up to 20%) and pyrrhotite (locally up to 40%), the zone remains open.
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/35415b01-496b-43c4-bf85-b7c7d74bb659
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/35415b01-496b-43c4-bf85-b7c7d74bb659
- The vast majority of the holes being drilled in 2022 are focused on resource level infill drilling of the
Surebet Zone high-grade gold-silver discovery. ~ 27,000 meters of drilling is planned from 25 pad locations and 86 holes using 5 drill rigs; over 20,000 meters have been completed to date. The campaign has also been designed to test the outer parameters of the system over an area of 2.1 km East-West by 2.5 km North-South (5.25 square kilometers). - Drilling has confirmed an extensive mineralizing system 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). The system remains open in all directions. Assays are pending on all 2022 holes and will be released once received, compiled, and interpreted.
- 100% of all 24 holes drilled on the
Surebet Zone during its 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.
Sixty-four (64) drill holes targeting the
Pad ID | Hole ID | From (m) | To (m) | Interval (m) | Host Lithology | Mineralization |
Pad 1 | GD-22-79 | 337.86 | 384.10 | 46.24 | Sediments | Quartz-sulphide breccia and stockwork with semi-massive, interstitial and stringers of galena, sphalerite and pyrrhotite |
Pad 17 | GD-22-83 | 87.47 | 105.12 | 17.65 | Sediments | Quartz-sulphide stockwork and veins with semi-massive, interstitial or stringers of galena, sphalerite and pyrrhotite |
129.9 | 181.50 | 51.60 | Sediments | Quartz-sulphide breccia and stockwork with semi-massive, interstitial or stringers of galena, sphalerite and pyrrhotite | ||
Pad 10 | GD-22-77 | 305.11 | 315.37 | 10.26 | Sediments | Quartz-sulphide stockwork and veins with semi-massive, interstitial-stockwork galena, sphalerite and pyrrhotite |
452.86 | 487.38 | 34.52 | Sediments | Intermittent quartz-sulphide breccia and stockwork with interstitial to semi-massive galena, sphalerite and pyrrhotite | ||
Pad 8 | GD-22-60 | 316.57 | 330.76 | 14.19 | Sediments | Massive galena veins and stringers, massive to stringer sphalerite and intergrown blebby aggregates of pyrrhotite |
Midwest | GD-22-63 | 283.90 | 294.03 | 10.13 | Sediments | Quartz-sulphide breccia and stockwork with semi-massive and stringers of galena, sphalerite and pyrrhotite |
Northwest | GD-22-65 | 299.06 | 311.5 | 12.44 | Sediments | Quartz veining and stockwork with localized interstitial-stockwork galena, sphalerite and pyrrhotite |
Pad 11 | GD-22-36 | 45.00 | 86.00 | 41.00 | Sediments | Quartz veining, stockwork and breccia with interstitial-stockwork and stringers of pyrrhotite, sphalerite and galena |
243.00 | 246.00 | 3.00 | Volcanics | Quartz veining, stockwork and breccia with interstitial-stockwork and stringers of pyrrhotite, sphalerite and galena | ||
Pad A | GD-22-50 | 64.27 | 75.62 | 11.35 | Sediments | Semi-massive to blebby aggregates and stringers of anhedral pyrrhotite and galena and mineralized veins with occasional sphalerite and galena |
105.00 | 109.00 | 4.00 | Volcanics | Quartz-sulphide veins with semi-massive sphalerite and interstitial galena and pyrrhotite | ||
South Cliff Step-out | GD-22-53 | 326.92 | 394.51 | 67.59 | Sediments | Quartz veining, stockwork and breccia with strong localized interstitial-stockwork pyrrhotite, sphalerite and galena |
Pad 16 | GD-22-68 | 168.66 | 190.04 | 21.38 | Sediments | Quartz-sulphide stockwork and veins with aggregates and stringers of galena, sphalerite and pyrrhotite |
208.45 | 217.63 | 9.18 | Sediments | Quartz-sulphide stockwork and veins with aggregates and stringers of galena, sphalerite and pyrrhotite |
Assays are pending on all 2022 drill holes and will be reported once received, compiled, and interpreted.
All drill holes collared from Pad A located across the Northeast Fault in the East Extension zone intersected several meters of mineralized rock with textures and mineralization comparable to the
Based on the evidence of
2022 drill campaign
During the 2022 drill campaign is focused on in resource level infill drilling of its
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
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
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