This looks big…really big
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British Columbia’s Golden Triangle is famous for hosting massive deposits of gold, silver and other metals.
And Goliath Resources (GOT.V; GOTRF.OTC) has made the latest discovery in the region, with a mineralized target measured in kilometers.
Best of all, drills are turning right now and have confirmed the continuity of the newly discovered Surebet Zone and the company is also testing the extensive scale of this potentially massive new deposit.
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The discovery matches the name.
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In a fitting coincidence, Goliath Resources Limited (GOT.V; GOTRF.OTC) has happened upon what looks to be a Goliath-sized deposit of high-grade gold and silver.
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The company’s Golddigger project in British Columbia’s Golden Triangle is home to a gigantic area of mineralization called the Surebet Zone, a newly discovered shear zone at surface.
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Drill discovery in 2021, this area was covered by glaciers over the millennia, but recent glacial recession has left prime gold hunting areas like Surebet exposed for discovery.
Goliath is still trying to get its arms around just how big Surebet is, but the company has already defined the target for an eye-popping two kilometers along strike and 1.1 kilometers down dip that both outcrop at surface.
And, as you’ll soon see, the drilling on Golddigger has unearthed a second potential area of mineralization that also has impressive dimensions.
The good news for you as a potential investor in Goliath is that the current weakness in gold has brought its share price down to bargain levels, allowing you to participate in the substantial upside from the current drill program at Golddigger.
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In 2021, Goliath conducted its maiden drill program on the Surebet Zone. The results, to say the least, were impressive.
Every hole in the 24-hole program hit significant mineralization, with the best hole from each of the seven widely spaced pads at Surebet returning an average grade of 9.42 g/t gold equivalent (6.66 g/t gold and 172.66 g/t silver) over 6.43 meters.
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In the gold exploration world, that’s like pulling a royal flush on the initial deal — it almost never happens.
And yet, that’s what Goliath has essentially done with the Surebet Zone. This is a large target of staggering dimensions that, importantly, still remains open along strike and at depth.
Last year’s results sent Goliath’s share price soaring and allowed it to raise C$14.6 million to fund this year’s aggressive drilling program up to 27,000 meters at Golddigger.
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The company has clearly latched into a huge area of mineralization. And it’s a target that attracted the interest of Crescat Capital and Eric Sprott.
Crescat Capital is an investment group with a strong technical bench, including storied economic geologist Quinton Hennigh.
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Crescat’s investment in Goliath, along with sector kingmaker Eric Sprott’s investment, is a sign the smart money is lining up behind the company.
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In looking at the data that’s come back so far from Golddigger, Dr. Hennigh is convinced that the project could host a multi-million-ounce, gold-equivalent resource.
That projection includes not only Surebet Zone, but also Extension targets found based on outcrop in all directions that remains open. The Southeast Extension has been targeted alone as potentially 1,200 meters along strike and 400 meters down dip.
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An Aggressive Drill Program
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As you would expect, given the money it has raised and the size of the targets at Golddigger, Goliath has embarked on an aggressive drill program there in 2022.
The ongoing program will drill up to 27,000 meters in 86 holes. The company will use 24 drill pads spread over Surebet and Extension to expand and infill the mineralization areas.
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The goal is to drill enough to be in a position to have enough holes to generate an initial inferred resource estimate from the Surebet Zone if desired.
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The company hasn’t reported assays yet, but it has seen visual confirmation of very broad widths of sulphides in every hole drilled over a 5.25-square-kilometer area.
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Again, that’s a staggering hit rate, and it explains why Goliath is pretty sure that this area would have been mined long ago if it had not been covered by glaciation.
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Still Time To Bet On Discovery
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The current drill program, combined with the gold-market-related retreat in Goliath’s share price, have set up a perfect scenario to bet on discovery.
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If the visual results from the current drilling are any indication, the assays from this program are going to impress the market in the weeks just ahead.
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With mineralization scale that’s measured in kilometers, Surebet and the Extension zones have the ability to host a massive high-grade gold-silver deposit. This is the kind of project that almost certainly will be taken out once a resource has been established.
The track record is already there for that possibility in the Golden Triangle, with Newmont’s recent purchase of GT Gold for $343M and Newcrest’s purchase of Pretivm and Red Chris for $2.7B and $806M respectively.
Goliath hasn’t hit the takeover stage yet, but if this year’s program proves up a significant high-grade gold-silver deposit, a lucrative take out will be very much a possibility.
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Bottom line: Goliath Resources has made a significant discovery in the Golden Triangle, one that strongly suggests it could outline a multi-million-ounce deposit.
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There’s still time to place your bets on the current drill program, which has the potential to send Goliath’s share price skyward as the 2022 drilling success continues.
Start doing your due diligence today.
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CLICK HERE
To Learn More about Goliath Resources Ltd.
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