Drill Highlights:
- 100% of all holes completed to date on the Surebet discovery have intersected significant zones of sulphide mineralization over a 5.25 km area that remains open in all directions.
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d557ec3b-8904-46f2-9538-67b9352f838b
- Hole GD-22-53 collared from South Cliff Stepout Pad (330 meters step-out to the East 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 %).
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/54f3f59a-b0f3-4e04-9571-e9953d1ff63f
- Hole GD-22-58 collared from South Cliff Step-out Pad (330 meters step-out to the East from Surebet Main) intersected a 15.11 meter* interval consisting of quartz veining, stockwork and breccia with strong localized interstitial-stockwork pyrrhotite (locally up to 20 %), sphalerite (locally up to 15 %) and galena (locally up to 10 %).
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8cc13345-cca2-42db-8ad0-3fc7446b1dc4
- Hole GD-22-64 collared from Pad 16 (460 meters step-out to the Southwest from Surebet Main) intersected two mineralized intervals of up to 7.60 meters* consisting of quartz veining, stockwork and breccia with strong localized interstitial-stockwork pyrrhotite (locally up to 15 %), sphalerite (locally up to 10 %) and galena (locally up to 10 %).
- An accompanying infographic is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d614bc7b-5bf5-4752-a0c6-7a90d16199c5
- Drilling on these two pads amongst others are targeting the
Surebet Zone and is designed to form part of a future inferred resource.
Observations:
- The drilling and data continue to demonstrate the presence of an extensive mineralizing system drilled and confirmed over an 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); it remains open in all directions (see map above). - 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 2022 drill program of ~27,000 meters planned will focus on expanding the known parameters of the Surebet high-grade gold-silver discovery over a 5.25 square kilometer area as well as resource level infill drilling.
- 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.
Drill interval highlights
Pad ID | Hole ID | From (m) | To (m) | Length (m) | Lithology | Mineralization | Textures | |||
South Cliff Stepout | GD-22-53 | 326.92 | 394.51 | 67.59 | Quartz-Sulfide (Vein/Breccia) | Pyrrhotite-Galena- Sphalerite-Pyrite | Semi-massive/massive/ interstitial/stringers | |||
GD-22-58 | 379.53 | 394.64 | 15.11 | Quartz-Sulfide (Vein/Breccia) | Pyrrhotite-Galena- Sphalerite-Pyrite | Semi-massive/massive/ interstitial/stringers | ||||
16 | GD-22-64 | 97.50 | 98.50 | 1.0 | Quartz-Sulfide (Vein/Breccia) | Pyrrhotite-Galena- Sphalerite-Pyrite | Semi-massive/massive/ interstitial/stringers | |||
GD-22-64 | 220.00 | 229.50 | 7.60 | Quartz-Sulfide (Vein/Breccia) | Pyrrhotite-Galena- Sphalerite-Pyrite | Semi-massive/massive/ interstitial/stringers |
Assays are pending on all 2022 drill holes and will be reported once received compiled and interpreted.
Hole GD-22-58 collared from South Cliff Stepout Pad (330 meters step-out to the East from Surebet Main) intersected a 67.59 meter* interval from 326.92 meters to 394.51 meters* consisting of quartz veining, stockwork and breccia. A section of quartz-breccia with strong localized interstitial pyrrhotite (locally up to 10 %), sphalerite (locally up to 5 %) and galena (locally up to 2 %) occurs between 352.42 meters and 357.82 meters. The mineralized shear zone intersected in hole GD-22-53 has an envelope of silica alteration that extends for up to 40 meters* on either side of the mineralized zone into strongly folded siltstone and sandstone host rock layers. Hole GD-22-53 also collared from the South Cliff Step-out Pad intersected a 15.11 meter* interval from 379.53 meters* to 394.64 meters* containing similar mineralization, textures and lithologies to GD-22-58. In this hole, mineralization in quartz veining, stockwork and breccia consists of semi-massive and interstitial pyrrhotite (locally up to 15 %), sphalerite (locally up to 20 %) and galena (locally up to 15 %) with a silica alteration halo reaching up to 30 m into the folded siltstone and sandstone host-rock units.
Hole GD-22-64 collared from Pad 16 (460 meters step-out to the Southwest from Surebet Main) intersected two mineralized intervals from 97.50 meters* to 98.50 meters* (1.0 meter* interval) and from 222.00 meters* to 229.60 meters* (7.60 meter* interval) consisting of quartz veining, stockwork and breccia with strong localized interstitial-stockwork pyrrhotite (locally up to 15 %), sphalerite (locally up to 10 %) and galena (locally up to 10 %) with a silica alteration halo extending up to 15 meters into the folded siltstone and sandstone units surrounding the mineralized zone.
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
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 as well AuEq metal values are calculated using: Au
Neither the
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