A Golden Opportunity in the Golden Triangle A Golden Opportunity in the Golden Triangle
Contributed Opinion
Source: John Newell (7/22/24)
John Newell of RSD Discovery Group shares why he believes Goliath Resources Ltd. (GOT:TSX.V; GOTRF:OTCQB; B4IF; FSE) is a frontrunner in the junior exploration sector.
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Goliath Resources Ltd. (GOT:TSX.V; GOTRF:OTCQB; B4IF; FSE) is rapidly making a name for itself in the precious metal exploration industry with its promising flagship Golddigger property located in the prolific Golden Triangle of northwestern British Columbia.
The Golden Triangle is one of the most significant mineral exploration regions in the world, renowned for its rich deposits of gold, silver, and copper. This area is home to several world-class mining projects and historical mines, such as the Eskay Creek, Snip, and Brucejack mines, which have produced millions of ounces of precious metals.
The geological formations, particularly the Stuhini and Hazelton groups, are known for their high mineralization potential, making the Golden Triangle a hotspot for junior exploration companies. Its strategic location, combined with improved infrastructure and technological advancements in exploration, continues to attract substantial investment and interest in uncovering new high-grade mineral deposits. The company's stock chart suggests a bullish trend, and the fundamentals behind this optimism are robust and multifaceted.
The Golddigger Property and the Surebet Discovery
Golddigger Property Highlights:
- Location: Situated on Tidewater, excellent infrastructure is nearby, including a permitted mill site in Kitsault, close proximity to Alice Arm, and road access to Terrace and Prince Rupert.
- Size: Covers an area of 59,089 hectares in a world-class geological setting within the Eskay Rift.
- Infrastructure: The property benefits from high-tension power lines, a road network, and accommodation facilities for a potential future mining operation.
Surebet Discovery:
- Extent and Quality: The Surebet Zone is characterized by a 1 km strike and 1.1 km down dip at surface with 700 meters of vertical relief. The zone boasts multiple extensive stacked bonanza-grade veins within 650 meters from the surface, confirmed by over 65,000 meters of diamond drilling.
- Metallurgical Excellence: Exceptional gold recoveries of 92.2%, with 48.8% being free gold from gravity at a 327-micron crush, requiring no cyanide.
- Geological Significance: The Surebet Zone's mineralizing fluids are confirmed to originate from a porphyry feeder source, indicating the presence of a significant gold system.
Recent Discoveries and Drilling Success
2023 Drilling Campaign:
- Expanded Potential: The recent drilling campaign significantly broadened the resource potential of the Golddigger property, unveiling ten newly discovered prominent mineralized zones.
- Assay Results: Highlights include GD-23-180 with 65.00 grams per tonne gold equivalent (g/t AuEq) over 7.90 meters and GD-23-157 with 21.08 g/t AuEq over 23 meters. These results demonstrate the high-grade nature of the Surebet Zone.
Newly Identified Zones:
- Full Contact and Treasure Island: These new zones, discovered due to glacial retreat, consist of sulphide-rich breccia, stockwork, and veins, showing potential for world-class Tier 1 gold deposits.
- High-Grade Samples: Channel samples from these zones returned assays up to 101.13 g/t AuEq, further emphasizing the enormous untapped discovery potential on the property.
Jeff Kyba's Red Line Theory and Expanded Claim Blocks
Red Line Theory:
- Expanded Claim Blocks: Based on positive results, the land package was significantly increased from 23,859 hectares to 66,023 hectares, covering key terrain of the Red Line, providing additional discovery potential.
- Geological Significance: The Red Line demarks the contact between rocks of the Stuhini Group and the Hazelton Group, believed to be a key marker within ~3 km of which the majority of the world-class multi-million-ounce deposits in the Golden Triangle are located.
- New Outcrop Showings: A large portion of the newly acquired land covers icefields to the north that have new outcrop showings at the surface recently exposed due to the snowpack and glaciers melting.
- Future Discoveries: Management believes the Surebet Zone/Bonanza Shear discovery is just the tip of the iceberg, open for additional new high-grade drill discoveries.
Strategic Partnerships and Shareholder Confidence
Notable Shareholders:
- Crescat Capital, Eric Sprott, and Rob McEwen: These significant shareholders and strategic partners bring substantial credibility and expertise to Goliath Resources. Dr. Quinton Hennigh, a technical advisor, further strengthens the team with his extensive geological expertise.
Partnerships with Domain Experts:
- Colorado School of Mines: Studies by the Colorado School of Mines confirm the extensive porphyry feeder source at depth, supporting the high-grade gold mineralization at the Surebet Zone.
- Consulting Firms: Collaborations with firms like SRK Consulting and Motherlode Consulting ensure rigorous analysis and strategic exploration.
Environmental and Social Responsibility
Commitment to Sustainability:
- Stakeholder Collaboration: Goliath Resources is dedicated to working closely with stakeholders to achieve responsible development and contribute to the sustainable development of local communities.
- Environmental Planning: All work programs are meticulously planned to achieve high levels of environmental and social performance, demonstrating the company's commitment to sustainable mining practices.
Recent Developments at Treasure Island
Maiden Drill Program Underway:
- Overview: The planned 2024 program at Treasure Island includes 11 holes from 4 drill pad locations with one diamond drill rig for 1,600 meters; additional drill holes will be designed based on mineralized intercepts.
- Location: Treasure Island is located on Golddigger's Cambria Icefields claim blocks, 36 km north of the Surebet discovery. It was recently exposed due to glacial retreat and permanent snowpack abatement.
- Mineralization: The new Treasure Island discovery consists of multiple shear-hosted, polymetallic zones covering an area of approximately 550 by 450 meters and is NW-SE trending. The extent of mineralization is currently open in all directions.
Drill Highlights:
- Channel Samples: Collected samples assayed up to 20.60 over 0.85 meters or 28.08 g/t AuEq (20.60 g/t gold (Au), 63.60 g/t silver (Ag), and 5.04 % copper (Cu)).
- Grab and Chip Samples: Assayed up to 11.08 gpt AuEq (0.04 gpt Au, 126.00 gpt Ag, and 7.15 % Cu); and 8.00 gpt AuEq (5.85gpt Au, 20.70 gpt Ag, and 1.43 % Cu).
Discovery of the Mothership Feeder Zone
Deep Zone Discovery:
- Mothership Feeder Zone: Discovery of a new deep zone containing abundant visible gold and strong sulfide mineralization in quartz breccia at 648 meters downhole and 125 meters in elevation above the valley floor from GD-24-235, the first drill hole of 2024.
- Porphyritic Intrusion: A new 24.4-meter porphyritic intrusion between 529.29 - 553.67 meters downhole containing veins with abundant visible gold, molybdenite up to 2 mm in size, and bismuth.
- Follow-Up Drilling: Results from this first drill hole confirm the strong potential for additional discovery during the 2024 drill program, with several deeper drill holes planned, including a 900-meter hole currently being drilled.
The technical chart below looks Bullish with the stock price challenging the point of recognition, a breakout above that point can be a potentially explosive move.
Conclusion
Goliath Resources Limited's strategic location, significant discoveries, exceptional metallurgical recoveries, and strong shareholder confidence make it a compelling investment opportunity.
The company's continued success in expanding the Golddigger property's resource potential, along with many other areas in this large land package situated in British Columbia’s Golden Triangle. This resource-rich company, combined with its commitment to sustainability and stakeholder collaboration, positions itself as a frontrunner in the junior exploration sector.
Investors should keep a close eye on Goliath Resources as it continues to uncover the vast potential of its projects in the Golden Triangle.