GOLIATH DRILLS VISIBLE GOLD IN MULTIPLE HOLES OVER 1.5 KM AND DISCOVERS NEW STRONGLY MINERALIZED 6.5 KM TREND CONTAINING MULTIPLE SHEAR ZONES, REMAINS OPEN, GOLDEN TRIANGLE, B.C. 2023 Drill Campaign Highlights: Several grains of Visible Gold have been identified over multiple meters in 3 out of 5 ho
GOLIATH DRILLS VISIBLE GOLD IN MULTIPLE HOLES OVER 1.5 KM AND DISCOVERS
NEW STRONGLY MINERALIZED 6.5 KM TREND CONTAINING MULTIPLE SHEAR
ZONES, REMAINS OPEN, GOLDEN TRIANGLE, B.C.
2023 Drill Campaign Highlights:
Several grains of Visible Gold have been identified over multiple meters in 3 out of 5 holes completed
in the Golden Gate Feeder Zone (GD-23-118, GD-23-126 and GD-23-111) and in 1 out of 2 holes
completed on the Surebet Blowout on the North Slope (GD-23-122); assays pending.
Hole GD-23-118 has multiple occurrences of Visible Gold over 1.51 meters at 64.53 meters, 65.97
meters and 66.04 meters depth respectively, in what is interpreted to be the northeast extension of
the Bonanza Shear.
Hole GD-23-118, collared from Pad TS -1 (located 100 meters to the northeast of Pad A, 2022 drill
season) intersected visible gold as well as several mineralized quartz-breccia zones, with the most
prominent quartz-breccia interval extending for 16 .80 meters* fr om 62.51 to 79.31 meters . The
mineralized interval contains stringers and semi-massive patches of sulphides (mainly pyrrhotite up
to 3 %, galena up to 1% and sphalerite up to 1 %). The hole is characterized by interbedded mudstone
and siltstone units above the mineralized zone and altered andesite in the sections below the
mineralized zone (see map below).
Hole GD-23-122 intercepted multiple grains of Visible Gold at 1.98 meters depth in a near surface
mineralized quartz-breccia in the top part of the hole (see image below).
Hole GD-23-122, collared from Pad D2-1 (located at the Surebet Blowout on the North Slope 1.5 km
to the northwest of Pad A, 2022 drill season) intersected visible gold and 18.73 meters* of a near
surface sulphide-mineralized section of quartz-breccia from 1.00 to 19.73 meters . A deeper
mineralized quartz-breccia and stockwork section was intersected from 88.37 meters to 89.54 meters
(1.17 meters*) corresponding to the modelled Surebet Zone. Sulphide mineralization consists of
stringers and local semi-massive lenses of pyrrhotite (up to 10 %), sphalerite (up to 3 %) and galena
(up to 2 %) (see image below).
Hole GD-23-117 collared from Pad D2-1 (located on the North Slope 1.5 km to the Northwest of Pad
A, 2022 drill season) intersected a sulphide mineralized quartz-breccia hosted in the sediments over
13.9 meters* at a shallow depth from 2.80 to 16.70 meters . This is followed by strongly folded
interbedded sandstones and mudstones to a depth of 176.10 meters . Below the sedimentary
package, lie volcanic units that at 221.00 meters depth transition to plutonic rocks. The best
expressions of mineralization hosted within the volcanics is found in altered andesite over 3.45
meters* from 108.00 to 111.45 meters, where the mineralization consists of massive pyrrhotite
locally reaching concentration up to 10%. (see image above).
Hole GD-23-126 has contains multiple grains of Visible Gold up to 1.6 millimeter in size between
36.50 meters and 37.20 meters.
Hole GD-23-126 collared from Pad D1-1 (located 500 meters to the Northwest of Pad A, 2022 drill
season) is still ongoing. A first look revealed that the hole intersected several sulphide-mineralized
quartz-breccia zones characterized by Surebet -style mineralization consisting of semi -massive to
massive galena and sphalerite, including a near surface zone where Visible Gold was identified.
Visible Gold has previously been reported and identified in the first hole of 2023 (GD-23-111) at a
shallow depth of 33.23 meters. The occurrence of Visible Gold indicates the potential for very high-
grade gold intervals in the Golden Gate Feeder Zone (see map above and image below).
All 12 holes (out of 70 planned holes) drilled to date during the 2023 season have i ntersected the
strongly mineralized Surebet Zone and/or the Bonanza Shear containing galena and sphalerite
mineralization. Three of these holes contai n multiple meters of Visible Gold; two holes from 2022
also contained Visible Gold that assayed high -grade gold mineralization with values up to 273
AuEqgm.
The Golden Gate Feeder Zone is a zone of high -grade gold mineralization located at the transition
between the Surebet Zone and the Extension Zone and is characterized by high -grade, wide,
intercepts of gold mineralization where several structures that act as potential fluid conduits meet
(see image above).
The main mineralized interval s intercepted in all holes from Pad TS -1 are interpreted to be the
northeast extension of the Bonanza Shear that defines the contact between the sedimentary units
and the underlying volcanic units.
Visible Gold was reported in hole GD-22-49 drilled in 2022 that is located roughly 250 meters south
of Pad TS-1. It is also located in the Golden Gate Feeder Zone and has a 166 AuEqgm value intersecting
21.30 gpt AuEq (20.46 gpt Au and 40.06 gpt Ag) over 7.77 meters*, including 27.55 gpt AuEq (26.47
gpt Au and 51.55 gpt Ag) over 6.00 meters* (see image below).
Visible Gold was previously reported in hole GD -22-58 drilled in 2022 at South Cliff Stepout Pad . It
had a 273 AuEqgm result intersecting 24.80 gpt AuEq (22.03 gpt Au and 127.62 gpt Ag) over 11.00
meters*, including 38.70 gpt AuEq (34.42 gpt Au and 197.45 gpt Ag) over 7.00 meters* and 44.47 gpt
AuEq (39.60 gpt Au and 224.10 gpt Ag) over 6.07 meters* (see image below).
Goldswarm Discovery update:
Drilling commenced July 1 on the New Goldswarm Discovery with 12 holes from 4 drill pads. The
inaugural drill program is designed to target a high-grade gold quartz-breccia outcrop that is exposed
for 800 meters with 650 meters of vertical relief that remains open. Channel samples from the
mineralized quartz-breccia assayed up to 29.70 g/t Au over 0.55 meters and grab samples assayed
up to 54.3 g/t Au (see image below).
Reconnaissance Prospecting Update:
The program has recently begun and has already resulted in the discovery of a new shear zone
referred to as Full House. Surebet -style mineralization containing galena and sphalerite in this new
shear zone can be traced sporadically outcropping at surface over 1.5 kilometers with a broader trend
of stacked shears traced for 6.5 kilometers and it remains wide open. Prospecting on the new Full
House discovery remains ongoing.
This new discovery is believed to be connected to the same high-grade feeder source at depth below
Surebet and Go ldswarm. This demonstrates tremendous discovery potential on the Golddigger
Property along 56 kilometers of the Red Line.
The reconnaissance program is planned to run through early September with an 8 man team putting
boots on the ground , focussing on 85 targets generated from an extensive internal data set within
vast areas of newly exposed bedrock due to snowpack recession and glacial abatement (see image
below).
2023 Drill Plan:
Four drill rigs are currently turning on the Golddigger Property.
The 2023 drill campaign includes 70 holes from 21 separate drill pad locations with 4 diamond drill
rigs for ~20,000 meters; inclu ding a maiden drill program at the newly discovered high-grade
Goldswarm Zone which is 4 km on strike to the north of Surebet that is believed to part of the same
mineralizing system feeding Surebet.