Hunting Down Gold but Will It Run

Finally, retail investors are realizing gold is more then just an historical or traditional asset. There is a reason why the wisdom of the ages is just that. Well, it is money. It is the original wealth over 6,000 years old and was a mighty leap above beads and seashells. Much of the world has loved gold, and never stopped loving it particularly governments, which have been hoarding gold for years while investment banks criticized it. After all, there is nothing in it for banks.

Even investor guru and superstar Warren Buffet has bought into Barrick Gold recently. He did not just go buy gold bars from a bullion dealer, he recognized an entry into production was needed that will cushion him from the inevitable meltdown or melt-up that is not going away. This is a leader who has been negative on gold and gold stocks his entire career!

One place that has incredible potential is one we all know and one that I love is non-other than the prolific Golden Triangle. Sure, the borders and shape of this region changes quite a bit, but most of us know we are talking about NW British Columbia. There are a lot of outstanding companies in this neck of the woods. You have Pretium, Seabridge, Tudor Gold, Scottie Resources, Skeena Resources, and the list goes on. There are a lot of outstanding geo teams and prospectors working over years to pry open the riches that those in the know expect to find. One such story is that of Goliath Resources.

Goliath Resources exploration company focused on discoveries with world class potential: they are not looking for small scale production or refurbishing stories. Goliath is looking for big numbers of gold in a world class geological setting that’s is a historically rich area on greenfield properties. I look at this with the investing intention of ‘go big or go home’!

This is looking to have the early indicators required, they appear to be on track with a fast-evolving significant new discovery.

Goliath Resources offers a year-round opportunity at two of the most significant postal codes for mining: The Golden Triangle and Abitibi Greenshields. The company has many projects we have written about before but the focus of this article is on the dynamic Surebet Main Zone and announcing the Nelligan Project acquisition in the Abitibi Greenshields, a historic region where over 200M ounces of gold have been extracted.

This is great news but the focus on this piece is the immediacy of the current extensive channel cutting programme aka “horizontal diamond drill holes” up t 52.7 meters in length with 700 meters of strike and 430 meters of vertical relief at its Sure Bet Main Zone at its Golddigger Property.

The flagship property is located just south west of Auryn Resources’ Homestake Ridge high grade Au-Ag deposit and only 7km from an access road to the Dolly Varden mine. Homestake Ridge Main Zone hit as high as 73m of 21g/t Au and 12g/t ag. The Homestake Silver Zone had 50.7m of 4g/t Au and 177g/t Ag. Auryn Resources published their PEA in April 14, 2020 for Homestake Ridge which presents the projects potential to become a high high-grade, small footprint, underground gold mine with positive economics.

 

Here is an overview video link: https://www.youtube.com/watch?time_continue=1&v=kOOH2nzWVBk&feature=emb_logo

 

GOT.V Surebet Zone

Goliath Exploration is part of a larger project generator syndicate that has been scouring over the Golden Triangle, Yukon, and Northwest BC focused on new original precious metal discoveries in areas of recently exposed bedrock due to  glacial and snowpack abetment. . I am impressed by the quality of work done by this team, syndicate and management over the past years and see this target as having outstanding potential. They are sitting on some outstanding geology and exciting channel cuts that are making people pay attention. Before we speak about the strategy let me just point out a key factor when discussing the geology. This system is along what is known as the Kyba Red Line.

 

Significance of the Kyba Red Line.

This geological description is attributed to Jeff Kyba a former geo with the government of British Columbia. The foundation of the concept is that most of the Golden Triangle’s deposits are found within 2 kilometers of this contact zone; his theory, published in a BC government paper, was significant because it was the first time anyone had tied the area’s discoveries together with a structural explanation. Goliaths’ program is designed to understand the extent of mineralization within these large structures consisting of massive sulphides. From the picture/slides published we can see the team exploring the Surebet Main Zone with an average width of ~ 30 meters and up to 52m. Surebet  has a  strike of   700m and with 430m of vertical relief and remains open..

 

 

 

 

Goliath has been taking a series of channel cuts along these structures to get a more solid indicator of the dissemination of mineralization at surface and possibly lies below. They will explore the entire 700m structure where exposed at surface from top to bottom focused on delineating   optimal drill targets. We are all still waiting on assay results, but the team is strongly encouraged by what they are seeing in the channels which are comprised of massive sulphides, semi-massive sulphides and strongly silicified volcanic sediments containing fracture-fill sulphides.

Share Structure

One of the opportunities with Goliath is the share structure. There are 28,645,298 shares issued and outstanding with 20,773,671 warrants and a total of just over 50 million shares fully diluted. This allows the ability of the stock to grow and ability to raise money from the existing warrants without further dilution. Of course, we must wait to see what the results from this season bring but many are encouraged by the geology, mineralization, and potential in this zone. Remember nothing matters until the assays are out but certainly as far as a good story, with outstanding geology in the right area Goliath provides a strong look.

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Securities Disclosure: I, Andrew O’Donnell, was not paid for this article in any way but I have bought shares in the market.

 

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