Gold Discovery Expands in Three Directions as Drilling Hits 74.67 g/t

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1. Disclosure for the quote from the John Newell article published on February 24, 2026

1. For the quoted article (published on February 24, 2026), Goliath Resources has paid Street Smart, an affiliate of Streetwise Reports, US$3,550
2. Author Certification and Compensation: [John Newell of John Newell and Associates] was retained and compensated as an independent contractor by Street Smart for writing this article. Mr. Newell holds a Chartered Investment Management (CIM) designation (2015) and a  U.S. Portfolio Manager designation (2015). The recommendations and opinions expressed in this content reflect the personal, independent, and objective views of the author regarding any and all of the companies discussed. No part of the compensation received by the author was, is, or will be directly or indirectly tied to the specific recommendations or views expressed.

John Newell Disclaimer

As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it's advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.

  2. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Goliath Resources Ltd. (GOT:TSX.V; GOTRF:OTCQX; B4IF:FSE) reported initial assay results from its 2026 drill program at the 100%-owned Golddigger Property in British Columbia's Golden Triangle, with results confirming expansion of the Bonanza and Golden Gate zones at the Surebet Discovery.

Drill hole GD-26-418 returned two separate gold-mineralized intercepts. The Surebet Zone intercept assayed 8.09 g/t gold equivalent (AuEq) over 16.00 meters, including 18.39 g/t AuEq over 6.75 meters, 39.99 g/t AuEq over 1.00 meter, and 74.67 g/t AuEq over 1.10 meters. The interval contained multiple occurrences of visible gold to the naked eye, or VG-NE, hosted in quartz-sulphide stockwork and breccia.

A second intercept in GD-26-418 expanded the Bonanza Zone 100 meters to the north and assayed 4.42 g/t AuEq over 5.00 meters, including 7.78 g/t AuEq over 2.79 meters and 23.76 g/t AuEq over 0.90 meters. The interval contained several occurrences of  Visible Gold to the Naked Eye (VG-NE) hosted in quartz-sulphide veins, and the Bonanza Zone remained open to the north. Assays were pending from additional holes that could confirm the expansion of the zone up to 200 meters north.

Drill hole GD-26-417 confirmed gold mineralization that expanded the Bonanza and Golden Gate zones by 540 meters to the southwest. The hole intersected a newly discovered mineralized zone grading 0.52 g/t gold over 58.00 meters, including 1.00 g/t gold over 9.00 meters, in a wedge-like intercept between the Bonanza and Golden Gate zones. Multiple occurrences of VG-NE were identified within the interval of tightly spaced quartz-sulphide veins and veinlets below the sedimentary-volcanic contact.

A deeper interval in GD-26-417, part of the Golden Gate Zone, assayed 2.13 g/t gold over 5.00 meters, including 8.96 g/t gold over 1.00 meter. Assays remained pending from additional holes in the southwest area that could confirm expansion of the Bonanza and Golden Gate zones up to 750 meters to the southwest.

Drill hole GD-26-425 expanded the Bonanza Zone 100 meters west, where it remained open. The hole intersected 1.11 g/t gold over 17.20 meters, including 3.96 g/t gold over 3.20 meters and 7.28 g/t gold over 1.07 meters, within an interval of frequent quartz-sulphide veins and veinlets immediately below the sedimentary-volcanic contact. Additional assays were pending from holes that could confirm expansion up to 200 meters west.

Other reported results included GD-26-413, which intersected 1.98 g/t gold over 3.00 meters, including 5.68 g/t gold over 1.00 meter, and GD-26-416, which returned 1.57 g/t gold over 3.02 meters, including 4.61 g/t gold over 1.00 meter.

The expanded Bonanza Zone had a strike of 1.8 kilometers northwest-southeast and 1.8 kilometers northeast-southwest. Mineralization in drill core from the expanded portions was characterized by local VG-NE, sphalerite, and pyrrhotite over intervals of up to 7 meters consisting of sheared quartz-sulphide breccia. The expanded Golden Gate Zone had a strike of 1.6 kilometers east-west and 1.5 kilometers north-south, with mineralization characterized by sets of veins and veinlets hosted in andesitic volcanic rocks.

VG-NE had been intersected in multiple veins and shear zones in 20 of the 35 holes drilled during 2026. All drill holes completed in the 2026 program to date had intersected quartz-sulphide mineralization. Goliath had completed 35 of 98 planned holes for a total of 19,931 meters drilled during 2026.

"Our 2026 drilling program is off to a fantastic start with the initial assay results that continue to confirm a wide open high-grade gold system with exceptional continuity and predictability," Founder and CEO Roger Rosmus said in the company's news release.

Prior to the 2026 drill season, the most recent ore mineralization model identified five stacked gold-mineralized vein systems or zones at Surebet: Bonanza, Surebet, Golden Gate, Whopper, and Eldorado. Collectively, the zones comprised 46 gold-rich lodes/veins and multiple subvertical Eocene-aged dyke swarms. The company reported that 355 of 386 holes drilled between 2021 and 2025 contained VG-NE.

Metallurgical testing conducted on a composite core sample resulted in recoveries of 92.2% for gold, 86.5% for silver, 94.2% for lead, and 96.9% for zinc through a combination of gravity and flotation circuits. Gravity-only recoveries were 48.8% for gold and 10.3% for silver at a crush size of 327 micrometers.

Drilling, Pending Assays and Expansion Work

Goliath's fully funded 2026 drill program comprised approximately 50,000 meters of systematic drilling using seven drill rigs. The program was designed to expand known gold mineralization laterally and at depth and to test for a causative magmatic gold feeder source.

Expansion drilling was set to focus on extending the Bonanza and Golden Gate zones to the east and northeast and the Surebet Zone to the west, while also testing other gold-rich mineralized lodes/veins that remained open. Additional drilling was allocated to lithological-structural features linked to magnetic anomalies indicative of a causative magmatic gold feeder source.

Directional drilling was being used at selected drill pads, with multiple holes stemming from a single "mother" hole. The company stated that the approach was being used to minimize drill time and costs while increasing target accuracy.

Pending assays also covered additional holes in areas where the initial 2026 results had expanded the modeled mineralization. In the southwest, assays were pending from holes that could confirm expansion of the Bonanza and Golden Gate zones up to 750 meters southwest. Additional pending assays could confirm Bonanza expansion up to 200 meters north and 200 meters west.

The company's 2026 relogging program was based on updated modeling of lodes/veins at the Surebet Discovery. The presentation identified GD-24-237 as a Golden Gate Zone interval extending 5 meters from 629 to 634 meters with assays pending. The interval was described as mineralization within the volcanic package, showing intense veining and hosted in Golden Gate-style quartz-sulphide veins within sheared andesite. The mineralization assemblage consisted of semi-massive pyrrhotite with subordinate pyrite and chalcopyrite associated with calc-silicates and chlorite. The presentation placed the intercept on trend with GD-24-254, located 200 meters away, which assayed 12.67 g/t AuEq over 5 meters.

The presentation also described the Bonanza Zone as outcropping for 2.8 kilometers along the north face and remaining open. It said the 2026 drill program was focused on expanding the 46 mineralized veins identified in the Surebet Discovery.

Work completed during the 2025-2026 off-season included geochemical investigations, updating the geologic model, and planning the fully funded 2026 summer drill and exploration campaign. The updated geologic model and mineralization work involved Goliath's geological team along with Archer, Cathro & Associates (1981) Limited on Leapfrog modeling, regional structural mapping, and mineralization; the Colorado School of Mines on geochemical, petrological, and geochronological studies; Motherlode Consulting on conceptual structural vein and lithological modeling; and Oriented Targeting Solutions LLC on structural geometry from core.

The presentation described a comprehensive litho-structural model comprising seven units and seven faults. The model was built using lithology logging data covering 8,139 intervals together with downhole structural measurements from oriented core.

The Golddigger land package covered 91,518.17 hectares, or 226,146.32 acres, and was 100% owned. The presentation stated that the expanded claim blocks controlled 56 kilometers of the Red Line. The land package had been increased by 28% from 66,023 hectares to 91,518 hectares and included newly acquired land covering icefields to the north, with new surface outcrop showings recently exposed due to melting snowpack and glaciers.

Ownership and Share Structure²

Management and insiders owned 20% of the company on a partially diluted basis, while strategic and institutional investors collectively held 35.0%, including Crescat Capital, a Global Commodity Group (Singapore), McEwen Inc. (MUX:TSX; MUX:NYSE ), Waratah Capital Advisors, Deutsche Bank AG, US Global Investors Inc., Rob McEwen, Eric Sprott, and Larry Childress.

The remaining shares were held by other institutional funds and retail investors. Goliath has 177 million shares issued and outstanding with a market capitalization of CA$242 million, or approximately US$171 million, and a 52-week trading range of CA$1.265 to CA$3.54.

FAQs

What did Goliath Resources announce from the Surebet gold discovery?

Goliath Resources Ltd. reported initial 2026 assay results from the Surebet Discovery at its 100%-owned Golddigger Property in British Columbia's Golden Triangle. The results confirmed expansion of the Bonanza and Golden Gate zones.

What were the highest-grade results from Goliath Resources' 2026 drilling?

Drill hole GD-26-418 intersected 8.09 g/t gold equivalent (AuEq) over 16.00 meters, including 18.39 g/t AuEq over 6.75 meters, 39.99 g/t AuEq over 1.00 meter, and 74.67 g/t AuEq over 1.10 meters.

How far has Goliath Resources expanded the Bonanza and Golden Gate zones?

Assays from drill hole GD-26-417 confirmed gold mineralization that expanded the Bonanza and Golden Gate zones by 540 meters southwest. Additional assays were pending from holes that could confirm expansion of the zones up to 750 meters southwest.

Did Goliath Resources expand the Bonanza Zone in other directions?

Yes. GD-26-418 expanded the Bonanza Zone 100 meters north, while GD-26-425 expanded it 100 meters west. The company reported that the zone remained open in both directions, with additional assays pending that could confirm expansion up to 200 meters north and 200 meters west.

How large is the Bonanza Zone at the Surebet Discovery?

The expanded Bonanza Zone has a strike of 1.8 kilometers northwest-southeast and 1.8 kilometers northeast-southwest. The company's August 5 presentation also described the Bonanza Zone as outcropping for 2.8 kilometers along the north face and remaining open.

How large is the Golden Gate Zone at Goliath Resources' Golddigger Property?

The expanded Golden Gate Zone has a strike of 1.6 kilometers east-west and 1.5 kilometers north-south. The zone previously contained 18 lodes up to 14 meters thick, with a combined thickness of up to 49 meters and remains open.

How much drilling has Goliath Resources completed at Surebet in 2026?

Goliath had completed 35 of 98 planned drill holes for a total of 19,931 meters of drilling in 2026. All holes completed in the 2026 program at the time of the announcement had intersected quartz-sulphide mineralization.

How much drilling is Goliath Resources planning at the Golddigger Property in 2026?

The fully funded 2026 program comprises approximately 50,000 meters of systematic drilling using seven drill rigs. The program is targeting the expansion of known gold mineralization laterally and at depth.

Where will Goliath Resources drill next at the Surebet Discovery?

Expansion drilling will focus on extending the Bonanza and Golden Gate zones east and northeast and expanding the Surebet Zone west. Additional drilling is allocated to test other gold-rich mineralized lodes/veins and lithological-structural features linked to magnetic anomalies indicative of a causative magmatic gold feeder source.

How much visible gold has been found at the Surebet Discovery?

Visible gold to the naked eye, or VG-NE, was intersected in multiple lodes/veins and shear zones in 20 of the first 35 holes drilled during 2026. Before the 2026 drill season, 355 of 386 holes drilled between 2021 and 2025 contained VG-NE.

How many gold zones and mineralized lodes/veins are at Surebet?

The most recent mineralization model before the 2026 program identified five stacked gold-mineralized systems or zones: Bonanza, Surebet, Golden Gate, Whopper, and Eldorado. Collectively, they comprised 46 gold-rich lodes/veins and multiple subvertical Eocene-aged dyke swarms.

What gold recoveries have metallurgical tests produced at Surebet?

Metallurgical testing on a composite core sample resulted in recoveries of 92.2% for gold, 86.5% for silver, 94.2% for lead, and 96.9% for zinc using a combination of gravity and flotation circuits. Gravity-only recovery was 48.8% for gold and 10.3% for silver at a 327-micrometer crush size.

What did Stifel analyst Cole McGill say about Goliath Resources and Surebet?

In a July 15, 2026, note, Stifel analyst Cole McGill said step-out drilling "showcases continuity of the Bonanza shear structure/host lithology (>1.8km x >1.8km corridor)." He also said the drilling demonstrated "potential mineral upside" relative to his exploration target and that step-out drilling "has the ability to put upward pressure on total ounce count of property."

What is Stifel analyst Cole McGill's exploration target for Goliath Resources' Surebet discovery?

McGill's exploration target was 4.3 million ounces based on his January 20, 2026, note. In his July 15 note, he wrote that "GOT trades at US$30/oz, our exploration target."

What rating did John Newell give Goliath Resources stock?

John Newell of John Newell & Associates initiated coverage of Goliath Resources with a Speculative Buy rating in a February 24 report.

What price levels did John Newell identify for Goliath Resources stock?

Newell's report stated that "upside objectives focus first on the area near CA$4.10, followed by a larger measured target around CA$8.25." It also identified a longer-term "big-picture objective" near CA$11.50, conditional on the market moving from early recognition toward full valuation of the discovery.