Dec 12, 2024, 7:08 AM
Dec 12, 2024, 7:08 AM

Goliath uncovers staggering gold grades in Bonanza Zone discovery

Highlights
  • Goliath Resources reported significant gold assay results from its Bonanza Zone at the Surebet site.
  • Approximately 92% of recent drill holes exhibited visible gold, indicating a strong potential for resource growth.
  • The findings suggest the Bonanza Zone is open for further exploration, potentially increasing the overall resource estimates.
Story

In Canada, Goliath Resources has announced significant gold assay results from its Bonanza Zone, discovered at the Surebet site. On December 12, 2024, the company revealed that drill hole GD-24-249 intercepted 226.12 grams per tonne (g/t) or 7.3 ounces per ton (oz/t) gold equivalent (AuEq) over 1 meter. This exceptional result occurred within a broader interval of 5.95 meters averaging 45.60 g/t AuEq, indicating strong mineralization near the surface. These findings suggest that the Bonanza Zone remains open for further exploration. In addition, drill holes GD-24-260 and GD-24-273 also contained considerable visible gold and other minerals like galena, sphalerite, and chalcopyrite. The ongoing 2024 drilling campaign has been highly successful, with 92% of the 64 holes drilled so far containing visible gold. The company is optimistic about the potential for increased resource estimates because of this continuity in high-grade mineralization. The newly discovered Reduced Intrusion Related Gold (RIRG) system surrounding the Bonanza Zone shows promise, especially with the presence of other elements like bismuth and molybdenum in the drilling results. Recent assays have suggested that this gold mineralization could be closer to its source than initially expected. Furthermore, assays are pending for a total of 101 drill holes, which could yield more positive data regarding the mineral's quality and quantity, enhancing the overall resource potential at the Surebet property. Overall, these results bode well for Goliath Resources as it continues to investigate both the Bonanza Zone and the surrounding geological formations. The ongoing work at the Surebet site is crucial to understanding the wider implications of these findings on the company's gold mining operations and could potentially lead to major discoveries in the region. The combination of high-grade intercepts, visible gold occurrences, and the exploration of the RIRG system illustrates Goliath Resources’ proactive approach to mineral exploration and its commitment to maximizing the resource potential of its claims.

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