GOLIATH RESOURCES LTD

This is another very strong release from Goliath further expanding the footprint of the Bonanza Zone at Surebet.  The headline result is GD-26-431 which intersected 9.12 g/t AuEq over 11.27 m from 374.20m, including 13.89 g/t AuEq over 7.14 m and 74.66 g/t AuEq over 1.03 m. Importantly, this is predominantly gold—the 11.27 m interval averages 8.93 g/t Au—rather than an AuEq number heavily boosted by base metals. This hole also encountered a second, broader mineralized interval of 1.08 g/t AuEq over 20.0 m from 391.0m , including 4.70 g/t over 3.03 m (Figure 1).

Two other holes reinforce this result: GD-26-442 returned 8.35 g/t AuEq over 4.15 m from 529.0m, including 31.42 g/t over 1.0 m, while GD-26-426 returned 2.93 g/t AuEq over 7.0 m, including 5.07 g/t over 3.91m from 585.0m. GD-26-442 is particularly relevant because it is part of the 100-m northern step-out expansion of Bonanza, rather than simply infill drilling.

The expanded high-grade core of the Bonanza Zone is located above the valley floor, potentially making it a great target for an initial underground mining operation. Drilling conducted during the 2026 program has intersected mineralization in multiple step-out drill holes, resulting in the expansion of the Bonanza Zone by 750 meters to the southwest, 100 meters to the west, 100 meters to the north and 160 meters to the northeast with the Zone still open for expansion.  Assays are pending on additional expansion step-out drill holes already completed.

As the company notes, drill step outs at Surebet have not been done with  narrow spacing of holes like most high-grade vein systems require.  Instead, they have done more aggressive step outs in the range of 50 to 100m or more which have very successful in significantly expanding the target vein systems.  Recognition of the Big Bulk Zone previously reported as the volcanic wedge zone, also considerably expands the potential for a large tonnage bulk minable underground deposit.  As Goliath continues to confirm continuity and extend Surebet mineralized zones, the comparison with Pogo’s high grade gold mineralization in multiple stacked, laterally extensive structures and relatively shallow-dipping structures significantly improves.

There will be a continuous stream of results coming this fall that will likely expand the Surebet footprint even further.

• Goliath has renamed the “Volcanic Wedge Zones” previously reported as the “Big Bulk Zones.” They now report intervals of 10–58 m grading approximately 0.39–2.04 g/t AuEq between Bonanza and Golden Gate and explicitly suggest potential amenability to bulk-mining methods.
• This result strengthens the interpretation being developed that the space between the high-grade lodes may contain a substantial volume of lower-grade mineralized rock rather than barren host rock.
• Goliath notes drilling into the system at depth is still well above the valley floor, which is leading them to believe that the magmatic feeder zone, or zones, for the entire system, is at or below the valley floor.
• There is also an enormous assay backlog. 92 of 97 planned holes have been completed totaling 45,616m with all holes intersecting quartz-sulphide mineralization, but complete AuEq assays have been reported for only nine of these holes.

Figure 1
Source: Goliath Resources