The High-Grade Gold Hits Keep Coming as Drilling Expands Zone by 860 Meters

Drill hole GD-25-420 extended the Golden Gate Zone by 320 meters to the Northeast. The interval assayed 6.51 g/t AuEq (6.16 g/t Au and 7.27 g/t Ag) over 5.73 meters, including 13.49 g/t AuEq (12.79 g/t Au and 14.12 g/t Ag) over 2.73 meters, including 36.27 g/t AuEq (34.43 g/t Au and 35.17 g/t Ag) over 0.97 meters. Consisting of a series of broad quartz sulphide veins hosted in volcanic rocks where VG-NE occurs in association with semi-massive pyrrhotite, sphalerite, pyrite, and galena.

Drill hole GD-26-414 intersected multiple mineralized intervals belonging to the Surebet and Golden Gate zones. The Golden Gate interval assayed 9.87 g/t Au over 5.00 meters, including 65.65 g/t Au over 0.75 meters. This interval is characterized by several occurrences of VG NE associated with quartz-sulphide veins containing lenses of semi-massive pyrrhotite, galena, sphalerite, and minor chalcopyrite.

Additionally, Goliath reported on August 11 that additional assay results confirmed continuity of gold mineralization within the newly identified 320-meter northeast extension of the Golden Gate Zone at its 100%-owned Golddigger Property. The company said the Golden Gate Zone had now been expanded by an aggregate of 860 meters through drilling completed during the current program, including 320 meters to the northeast and 540 meters to the southwest, while remaining open laterally and at depth.

Drill hole GD-26-424 intersected the Golden Gate Zone and returned 10.32 g/t gold over 6.00 meters, including 15.61 g/t gold over 3.96 meters and 33.80 g/t gold over 1.82 meters. The interval contained a series of quartz-sulphide veins with multiple occurrences of visible gold to the naked eye, hosted in volcanic rocks. The veins contained disseminated pyrite, pyrrhotite, sphalerite, galena, and trace chalcopyrite.

Goliath also reported results from drill hole GD-26-412, which intersected mineralized intervals in both the Surebet and Golden Gate zones.  The Golden Gate interval in GD-26-412 returned 4.17 g/t gold equivalent, consisting of 3.87 g/t gold and 7.96 g/t silver, over 3.75 meters, including 7.52 g/t gold equivalent, consisting of 7.07 g/t gold and 11.37 g/t silver, over 1.94 meters. The company said the interval contained several occurrences of visible gold to the naked eye associated with quartz-sulphide veins containing pyrite, pyrrhotite, sphalerite, and galena.

The expanded Golden Gate Zone has a strike of 1.6 kilometers east-west and 1.5 kilometers north-south. Mineralization in drill core from the expanded portions of the zone is characterized by sets of veins and veinlets hosted in andesitic volcanic rocks and mineralized with visible gold to the naked eye, sphalerite, galena, and pyrrhotite, as well as trace pyrite and chalcopyrite. The zone previously contained 18 lodes up to 14 meters thick, with a combined thickness of up to 49 meters and intercepts up to 34.52 g/t gold equivalent over 39.00 meters in drill hole GD-24-260.

The expanded Bonanza Zone has a strike of 1.8 kilometers northwest-southeast and 1.8 kilometers northeast-southwest. Mineralization in its expanded portions is characterized by visible gold to the naked eye, sphalerite, and pyrrhotite in intervals up to 7 meters wide, consisting of sheared quartz-sulphide breccia. The Bonanza Zone previously contained five lodes up to 19 meters thick with a combined thickness of up to 27 meters and intercepts up to 8.35 g/t gold equivalent over 23.00 meters in drill hole GD-24-280.

All drill holes completed during the 2026 campaign have intersected quartz-sulphide mineralization, which the company said generally corresponds to high-grade gold mineralization. Goliath reported that 44 of 98 planned drill holes had been completed, totaling 23,863 meters of drilling in 2026.

Founder and CEO Roger Rosmus said in the company news release, "The goal of this 2026 drilling campaign is expansion, and the directional drilling being utilized is paying off with the step-outs being successful. The 320-meter step out of Golden Gate to the northeast is one example and a nice surprise along the way."

The most recent ore mineralization model incorporating data available before the 2026 program comprises five stacked gold-mineralized vein systems or zones: Bonanza, Surebet, Golden Gate, Whopper, and Eldorado. Collectively, the zones comprise 46 gold-rich lodes or veins and multiple subvertical Eocene-aged dyke swarms. The company reported that 100% of drill holes completed before the 2026 drill season within the 1.8-square-kilometer Surebet discovery intersected gold mineralization, with more than 1,500 drill hole pierce points.

Visible gold to the naked eye had intersected in multiple veins and shear zones in 25 of 45 holes drilled during the 2026 program. All holes completed during the campaign had intersected quartz-sulphide mineralization, which the company said generally corresponds to high-grade gold mineralization. Goliath had completed 45 of 98 planned drill holes for a total of 25,651 meters drilled.

The fully funded drill program comprises approximately 50,000 meters of systematic drilling using seven rigs to expand known mineralization laterally and at depth. Expansion drilling is focused on extending the Bonanza and Golden Gate zones, while additional drilling is planned to test other open gold-rich mineralized lodes and lithological-structural features linked to magnetic anomalies. Directional drilling using multiple holes stemming from a single mother hole is also being employed on selected drill pads to reduce drill time and costs while increasing targeting accuracy.

Gold Regains Momentum as Investor and Central Bank Demand Builds

BullionVault's live pricing data on August 11 placed the gold price at US$4,379.84 per ounce at 6:57 a.m. ET. The service described its chart as showing "the current price of gold in the professional gold bullion market" and reported that its gold price measure had increased 7.47% over the preceding week.

Analysts Point to Expansion and Scale at Surebet

Stifel analyst Cole McGill said continued drilling at Goliath Resources Ltd.'s Surebet discovery had demonstrated continuity of the Bonanza Zone and provided additional room for expansion. In a July 15 note, McGill discussed step-out drilling that extended the Bonanza shear structure approximately 750 meters southwest, with assays still pending at the time.

McGill said the drilling "showcases continuity of the Bonanza shear structure/host lithology (>1.8km x >1.8km corridor)," which he said demonstrated "potential mineral upside" compared with his exploration target. He added that step-out drilling "has the ability to put upward pressure on total ounce count of property."

Following a site visit, McGill said his confidence had increased in "a high grade, potential ~1.5MMoz 'central corridor' of mineralization where Bonanza/Surebet intersect, with heightened grade/continuity."

McGill also addressed Goliath's valuation relative to his exploration estimate, writing that "GOT trades at US$30/oz, our exploration target." His exploration target was 4.3 million ounces, based on his January 20 note.

McGill compared the drilling at Surebet with the former Great Bear Resources' Dixie project. "Surebet's first 150 holes look similar to the former Great Bear Resource's Dixie (acquired by Kinross in 2022 for US$1.45B)," he wrote. "Surebet's first 150 holes averaging @ 124 g/m, versus Dixie's LP Zone at 129 g/m, just a 4% difference."

On August 7, Cole McGill offered a price target of CA$4.25 and a BUY recommendation. 

¹John Newell of John Newell & Associates also cited the scale and continuity of the Surebet system when he initiated coverage of Goliath with a Speculative Buy rating in a February 24 report. Newell noted that more than 150,000 meters had been drilled with a reported 100% hit rate for mineralization, while drilling continued to expand the discovery in multiple directions.

"Early skepticism around the geology has given way to a growing recognition of the scale, continuity, and structural complexity of the Surebet discovery, particularly following the company's 2025 and early-2026 drill results," Newell wrote.

Newell described Surebet as "a large, high-grade gold system with vertical and lateral continuity" and said the continuity of mineralization was supported by the prevalence of visible gold observed in drill holes completed to date. His report also noted that Goliath was fully funded for its 2026 exploration program and remained focused on expanding known mineralized zones while evaluating potential higher-grade feeder corridors.

Newell identified several valuation levels in his report. "Upside objectives focus first on the area near CA$4.10, followed by a larger measured target around CA$8.25," he wrote. The report added that "on a longer-term basis, the structure supports a big-picture objective near CA$11.50 should the market move from early recognition toward full valuation of the discovery."

2026 Drilling, Relogging, and Expansion Work Continue

Goliath's August 5 presentation stated that its fully funded 2026 drill program was underway for approximately 50,000 meters, with the program focused on expanding the mineralized veins at the Surebet discovery. The presentation described the Bonanza Zone as an example of the expansion work, with the zone outcropping at surface on the north face of the mountain. The presentation showed the Bonanza Zone North Face outcropping for 2.8 kilometers and remaining open.

The 2026 program follows more than 64,000 meters drilled across 110 holes during the 2025 campaign, bringing drilling at that point to 156,000 meters. The presentation stated that 83 of the 110 holes drilled in 2025 contained visible gold to the naked eye and that all five main zones were expanded and remained open. It also reported that 355 of 386 drill holes, or 92%, contained visible gold to the naked eye.

The 2026 program is focused on expanding known mineralization laterally and at depth. The presentation identifies five main zones containing 46 stacked mineralized gold veins over 1.2 kilometers. The five zones are Bonanza, Surebet, Golden Gate, Whopper, and Eldorado, and the presentation states that they remain open for expansion.

A 2026 relogging program based on updated modeling of the veins is another ongoing work stream. The presentation identified a 5-meter interval from 603 to 608 meters in GD-24-254 in the Golden Gate Zone that returned 12.67 g/t gold equivalent. 

The GD-24-237 interval was described as mineralization within the volcanic package showing intense veining. It is hosted in Golden Gate-style quartz-sulphide veins within sheared andesite, with an assemblage consisting of semi-massive pyrrhotite with subordinate pyrite and chalcopyrite associated with calc-silicates and chlorite. The presentation stated that the intercept lies on trend with the GD-24-254 Golden Gate intercept, approximately 200 meters away.

The company's modeling work also includes a comprehensive litho-structural model comprising seven units and seven faults. The model was built using lithology logging data covering 8,139 intervals and downhole structural measurements from oriented core.

During the 2025-2026 off-season, work focused on geochemical investigations, updating the geologic model, and planning the fully funded 2026 summer drill and exploration campaign. The presentation said updating the geologic model and the understanding of mineralization involved Goliath's geological team, contractors, and universities. The work included Leapfrog modeling, regional structural mapping and mineralization; geochemical, petrological and geochronological studies; conceptual structural vein and lithological modeling; and structural geometry work using core.

The presentation also described an expanded land package covering 91,518 hectares and controlling 56 kilometers of the Red Line. The land package was increased by 28% from 66,023 hectares, with the expanded claims designed to include open ground amenable to RIRG-type mineralization, including the newly discovered Blue Origin. A large portion of the newly acquired land covers icefields to the north, where new surface outcrops have been exposed as snowpack and glaciers have melted. 

The Golddigger Property is 100% owned. The presentation identifies infrastructure associated with the property, including a permitted mill site in Kitsault with tidewater barge access. It also shows the Surebet discovery approximately 25 kilometers from high-tension power.

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.

Frequently Asked Questions

What did Goliath Resources report from the Golden Gate Zone at the Surebet discovery?

Goliath Resources reported assay results from its 2026 drilling program that confirmed a 320-meter northeast expansion of the Golden Gate Zone at the Surebet discovery on its Golddigger Property in British Columbia's Golden Triangle. The zone remained open laterally and at depth.

What were the latest Goliath Resources gold drill results from the Golden Gate Zone?

Drill hole GD-26-424 intersected 10.32 g/t gold over 6.00 meters, including 15.61 g/t gold over 3.96 meters and 33.80 g/t gold over 1.82 meters. The interval contained quartz-sulphide veins with multiple occurrences of visible gold to the naked eye.

How far has Goliath Resources expanded the Golden Gate Zone?

Goliath reported on August 11 that drilling had expanded the Golden Gate Zone by an aggregate of 860 meters, consisting of 320 meters to the northeast and 540 meters to the southwest. The zone remained open laterally and at depth.

What did Goliath Resources find in drill hole GD-26-420?

Drill hole GD-26-420 returned 6.51 g/t gold equivalent, consisting of 6.16 g/t gold and 7.27 g/t silver, over 5.73 meters. This included 13.49 g/t gold equivalent over 2.73 meters and 36.27 g/t gold equivalent over 0.97 meters.

What were the assay results from Goliath Resources drill hole GD-26-414?

GD-26-414 intersected both the Surebet and Golden Gate zones. The Surebet Zone interval returned 2.81 g/t gold over 4.00 meters, including 9.79 g/t gold over 1.00 meter. The Golden Gate interval returned 9.87 g/t gold over 5.00 meters, including 65.65 g/t gold over 0.75 meter.

What did Goliath Resources report from drill hole GD-26-412?

GD-26-412 intersected mineralized intervals in both the Surebet and Golden Gate zones. The Surebet Zone interval returned 4.41 g/t gold equivalent over 7.79 meters, including 8.47 g/t gold equivalent over 3.81 meters and 16.65 g/t gold equivalent over 1.79 meters. The Golden Gate interval returned 4.17 g/t gold equivalent over 3.75 meters, including 7.52 g/t gold equivalent over 1.94 meters.

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

As of the August 11 update, Goliath had completed 45 of 98 planned drill holes for a total of 25,651 meters. All drill holes completed during the 2026 campaign had intersected quartz-sulphide mineralization, which the company said generally corresponded to high-grade gold mineralization.

How common is visible gold at Goliath Resources' Surebet discovery?

Goliath reported that visible gold to the naked eye had been intersected in multiple veins and shear zones in 25 of 45 holes drilled during the 2026 program. Before the 2026 drill season, 355 of 386 holes, or 92%, drilled at Surebet contained visible gold to the naked eye.

How large are the Golden Gate and Bonanza zones at the Golddigger Property?

The expanded Golden Gate Zone has a strike of 1.6 kilometers east-west and 1.5 kilometers north-south. The expanded Bonanza Zone has a strike of 1.8 kilometers northwest-southeast and 1.8 kilometers northeast-southwest. Both remained open for expansion.

What is Goliath Resources' 2026 drilling program at the Golddigger Property?

The fully funded program comprises approximately 50,000 meters of systematic drilling using seven drill rigs. The program was designed to expand known mineralization laterally and at depth, with expansion drilling focused on the Bonanza and Golden Gate zones as well as other open mineralized areas.

What is the Surebet discovery at Goliath Resources' Golddigger Property?

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

Where is Goliath Resources' Golddigger Property?

The 100%-owned Golddigger Property covers 91,518 hectares in British Columbia's Golden Triangle. Goliath controls 56 kilometers of the Red Line geologic trend, and the property is adjacent to tidewater with barge access to Prince Rupert.