Tidbits for GOT Roger Rosmus's Goliath Resources Ltd. (GOT) has eyeballed more gold from a new hole drilled into the Surebet-Golden Gate feeder zone at Golddigger, its promising project in the Golden Triangle district of northwestern British Columbia. The sighting occurred in core obtained about 60 metres down hole, in what is the seventh hole drilled this year to show visible gold. The sighting occurred midway within a nearly nine-metre-thick hit of "significant mineralization."
How significant that mineralization is will depend on the still pending assays, but in the meantime, Goliath trotted out some high-grade jargon to back its claim: The mineralization sits within "volcanic tuff crossed by massive quartz veins that are chloritized and heavily silicified and show localized carbonate alteration." That description also broadly applied to a considerably deeper, nearly 20-metre-thick zone, but the latter material also had "significant sphalerite mineralization and minor pyrrhotite" to back it up.
Mr. Rosmus, CEO, had nothing to add about the sighting, nor did any of his crew. Perhaps the steady diet of visible gold sightings this summer has become old hat to Goliath -- as it clearly has to investors: Goliath was unchanged at 87 cents on 169,000 shares on the latest sighting. The flecks of gold have pushed the company's stock handily above its May low of 53 cents, but there are plenty of shareholders willing to grump about paying as much as $1.74 per share in better days last year.
Golddigger is still an early-stage project without a resource estimate, although Mr. Rosmus and his crew do have a workaround. They cheer a "current projected model" that credits Surebet with about 5.5 million cubic metres of rock that has been drill tested with assays averaging 6.31 grams of gold equivalent per tonne over an average interval of 6.88 metres. The company also applauds the Bonanza area as larger but lower grade, where 13 million cubic metres of rock has yielded assays averaging 2.7 grams of gold equivalent per tonne over an average of 5.31 metres.