Goliath taps VG in five Golddigger holes
Sign of high-grade gold potential at Golden Gate Feeder Zone North of 60 Mining News
Last updated 7/12/2023 at 2:56pm
Goliath Resources Ltd. June 12 announced that it has cut visible gold in five holes drilled so far this year across a 1,500-meter stretch of the company's Golddigger property about 30 kilometers (19 miles) southeast of the mining town of Stewart in Northern British Columbia.
In May, Goliath launched what is now expected to be a 20,000-meter drill program focused on building upon the success of an 86-hole program completed last year.
Highlights from the 2022 drilling include:
• 11 meters averaging 6.98 grams per metric ton gold and 441.6 g/t silver in hole GD-22-48.
• 7.77 meters averaging 20.46 g/t gold and 40.1 g/t silver in hole GD-22-49.
• 11 meters averaging 22.03 g/t gold and 127.6 g/t silver in hole GD-22-58.
• 11 meters averaging 12.1 g/t gold and 54.1 g/t silver in hole GD-22-100.
Coupled with drilling completed in 2021, last year's drilling outlined intersecting gold mineralized bodies at Golddigger – Bonanza Sheer and Surebet. Based on current modeling, Surebet is a roughly 5.5-million-cubic-meter zone that averages around 6.9 meters thick and 6.3 g/t gold-equivalent, which accounts for the value of both the gold and silver. Bonanza is a roughly 13-million-cubic-meter zone that averages about 5.3 meters thick at 2.7 g/t gold.
The drilling completed so far this year has cut visible gold in four holes drilled from the Surebet blowout zone on the northwest end of the zone to the newly named Surebet Golden Gate Feeder Zone about 1,500 meters to the southeast.
• GD-23-111, the first hole of the 2023 program, cut visible gold from a depth of 33.13 meters which indicates the potential for very high-grade gold intervals in the Golden Gate Feeder Zone.
• GD-23-118, also drilled at Golden Gate Feeder Zone, cut visible gold from a depth of 64.5 meters in what is interpreted to be an extension of the Bonanza Shear.
• GD-23-122 intercepted multiple grains of visible gold in mineralized quartz-breccia at a depth of 1.98 meters in the Surebet Blow Out Zone.
• GD-23-126, collared roughly 500 meters northwest of GD-23-111, cut multiple grains of up to 1.6-millimeter visible gold from a depth of 36.5 meters in the Golden Gate Feeder Zone.
• GD-23-133 encountered visible gold in what is interpreted to be a splay from the Bonanza Shear within Golden Gate Feeder Zone.
Assays are pending on all the 2023 holes drilled at Golddigger.
Goliath also reported that hole GD-23-133 cut 12.47 meters of highly mineralized quartz-sulfide-rich breccia containing the lead mineral galena (up to 10%), zinc mineral sphalerite (up to 15%) and iron-sulfide mineral pyrrhotite (up to 20%) from a depth of 27.4 meters. A second 1.17-meter-thick mineralized quartz-sulfide-rich breccia hosted by altered intermediate volcanic rocks containing pyrrhotite (up to 5%), galena (up to 5%), sphalerite (up to 3%) and pyrite (up to 1%) was cut at a depth of 70.73 meters.
The lower sulfide-rich breccia interval in sulfide-rich breccia included a 1-mm nugget of visible gold.
Goliath says all the visible gold encountered so far at Golddigger to date have been within quartz-breccia and veins in contact with or near sphalerite and galena mineralization. The company is collaborating with the Colorado School of Mines on a project aimed at determining the origin and evolution of the gold mineralizing fluids in the Surebet zone at Golddigger.