Exploration Company Uncovers High-Grade Gold in British Columbia

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Goliath Resources Ltd. (GOT:TSX.V; GOTRF:OTCQB; B4IF:FSE) has reported new assay results from its Surebet high-grade gold discovery within the Golddigger Property in British Columbia's Golden Triangle. Drill hole GD-24-280 intersected 8.31 grams per tonne (g/t) gold over 23.00 meters, including 15.69 g/t over 11.00 meters and 37.45 g/t (1.20 oz/ton) over 4.00 meters. The intercept is from a newly identified third rock package in the Bonanza Zone, characterized by calc-silicate altered breccia containing visible gold.

GD-24-280 is interpreted to be a ~500 meter step-out to the east from other drill holes previously reported from the high-grade gold Bonanza Zone, that include:

o GD-23-197 that returned 34.03 g/t AuEq or 1.09 oz/T AuEq (32.55 g/t Au and 65.71 g/t Ag) over 9 meters (~true width); within 21 meters of 14.83 g/t AuEq (14.17 g/t Au and 29.13 g/t Ag); within 27 meters 11.60 g/t AuEq (11.07 g/t Au and 23 g/t Ag (see news October 17, 2023); and 

o GD-24-235 that returned 35.04 g/t AuEq (34.16 g/t Au and 34.15 g/t Ag) over 6.34 meters ~true width, within 15.86 g/t AuEq (15.40 g/t Au and 17.11 g/t Ag) over 11.9 meters (see news July 20, 2024).

The company's recent re-logging initiative also identified visible gold in several other historical drill holes that had not been previously sampled. These include GD-22-64, which returned 6.31 g/t AuEq over 14.35 meters, including 11.36 g/t AuEq over 7.85 meters in a newly discovered Reduced Intrusive Related Gold (RIRG) dyke. Assays remain pending for 6 drill holes associated with RIRG dykes, calc-silicate altered breccias and known stacked veins.

Dr. Quinton Hennigh, Geologic and Technical Advisor to Crescat Capital, stated in the announcement, "The revelation that significant high-grade gold mineralization is hosted by calc-silicate rocks that form the thermal aureole around a deep intrusion adds fuel to that fire."

Gold Sector Strengthened by Global Demand, Reserve Positioning, and Economic Uncertainty

Gold prices have climbed sharply in 2025, supported by ongoing geopolitical instability and demand for safe-haven assets. On June 27, Catherine Brock of Yahoo Personal Finance reported that gold futures opened at US$3,341.30 per ounce, marking a 45.5% increase from US$2,296.80 on the same date in 2024. Despite a brief pullback, prices remained near record highs. Brock attributed the surge to broad economic uncertainty and noted that "gold, silver, and platinum are all up more than 22% so far in 2025." She also emphasized steady demand for physical metals, particularly among retail buyers of bars and coins, even as equity markets held up.

In early July, additional perspectives reinforced gold's appeal amid rising debt levels and changing investor strategies. On July 1, Stewart Thomson of Galactic Updates described gold as "supreme money" and pointed to the U.S. debt load as a continued catalyst. He identified an ascending triangle pattern in the charts with a potential technical target of US$3,800 per ounce, noting that momentum indicators were "poised to flash a thunderous buy signal." Thomson also highlighted growing demand from China and India, suggesting this could influence sentiment among Western investors. He expressed concern about the weakening U.S. dollar and projected sustained strength in the sector driven by Eastern accumulation.

On July 2, Pretiorates offered a different angle, examining market behavior through ETF flows and investor positioning. Their analysis described gold's recent consolidation since April as a sign of underlying resilience. Interestingly, they reported that Chinese institutional investors have been net sellers in recent weeks, with support instead coming from renewed Western interest. Rising ETF holdings in the U.S. and Europe were seen as evidence of this trend. The report also flagged a notable pattern from their Smart Investors Action Indicator, showing heavy selling paired with "strong action"—a combination that has historically preceded upward price moves. For silver, Pretiorates observed continued interest in ETFs and stable prices despite pressure, reinforcing broader strength across the precious metals sector. They concluded, "It is not the Chinese who are keeping the Gold price up, but increasingly Western private investors."

Gold prices continued to hold firm in early July as markets responded to rising geopolitical tensions and the looming expiration of a 90-day pause on U.S. reciprocal tariffs. On Monday, July 7, gold futures opened at US$3,344.50 per ounce, up 0.4% from the previous close and 2.4% higher than the June 30 opening price of US$3,265.90, according to Yahoo Finance. The precious metal has remained above the US$3,300 threshold throughout July, buoyed by investor caution ahead of President Trump's expected announcement on new tariff rates—ranging from 10% to 70%—set to take effect August 1. Since the initial tariff proposal was revealed on April 2, gold futures have gained 7%, highlighting the metal's continued role as a hedge against policy uncertainty and global economic risk.

Expanding the Discovery Horizon at Surebet

Goliath has increased its 2025 drill campaign from 40,000 meters to 60,000 meters, with the program entirely focused on expanding the Surebet discovery both laterally and at depth. The updated geologic model, developed in collaboration with research institutions including the Colorado School of Mines, aims to further investigate a potential magmatic source, referred to as the "Motherlode," believed to be responsible for the widespread gold mineralization across three distinct rock types.

Key 2025 initiatives include testing 13 untested Eocene-aged dykes for RIRG mineralization, increasing pierce point density in known high-grade veins, and drilling intersections where vertical dykes meet gently dipping veins — zones referred to as "Goldilocks Zones" due to their potential for dual-phase gold enrichment.

The Surebet discovery spans 1.8 square kilometers with 700 meters of vertical relief and 12 modeled stacked high-grade gold veins stretching over 1.2 kilometers. Drill data from 2021 to 2024 includes more than 400 pierce points across 92,000 meters. Metallurgical testing has shown strong recoveries, with 92.2% of gold recoverable via gravity and flotation processes without cyanide, including 48.8% free gold.

With drill rigs active and assays pending, the company continues to advance its understanding of the structural and geochemical controls driving mineralization across its expanded 91,518-hectare land package in the Golden Triangle. The Golddigger Property is located on tidewater with access to existing infrastructure, including road and barge links to the town of Kitsault and the Port of Prince Rupert.

Analyst Upgrades and Institutional Interest Reinforce Goliath's Market Momentum

On May 1, Red Cloud Securities mining analyst Taylor Combaluzier raised the target price for Goliath Resources Ltd. to CA$2.90 per share, representing an 81% increase from the previous estimate. The updated valuation was based on drill results from the 2024 season at the company's Golddigger Property in British Columbia, which supported a conceptual estimate of 4 to 6 million gold-equivalent ounces at an average grade of 6.62 grams per tonne. Combaluzier noted that the 2024 program "likely significantly expanded gold mineralization" and suggested that continued success in 2025 could further narrow the valuation gap between Goliath and its peers. Red Cloud maintained a Buy rating with an anticipated return of 65% at the time of the report.

In a May 10 interview with Triangle Investor, Thomas J. Parilla, president of Parilla Investment Group, named Goliath Resources as one of the firm's core positions. Parilla pointed to the company's drill results and leadership, describing the assays as "off the charts" and CEO Roger Rosmus as "a fantastic CEO" with global credibility. He also referenced internal company estimates indicating that the Golddigger project could eventually support a valuation of US$2.5 billion in a potential acquisition scenario. "I would imagine that's a US$12–15 stock when you get out that far," Parilla said, adding that acquisition interest could emerge following the current drill campaign.

On May 18, George Billman of Resourceful Insights highlighted Goliath's growing presence in the southern Golden Triangle as a key driver of its rising valuation and ongoing land consolidation. He reported that Goliath's market capitalization had grown by US$146 million since the end of 2023, a nearly 150% increase. Billman credited this to increasing evidence of a large Reduced Intrusion-Related Gold System (RIRGS) and the visibility of stacked veins and feeder dykes across the Golddigger Property. He also noted that management and insiders had increased their combined ownership to 51.5%, describing the shareholder structure as "strong-handed" and aligned for long-term value creation.

In his July newsletter What's Chen Buying? What's Chen Selling?, Chen Lin reiterated his confidence in the company, stating: "GOT.v continues to have very good results. I have been adding to my position at around 2 CAD, the financing price, as I discussed before. I expect a very busy summer and hope they continue to hit big. I do plan to take some profits in fall/winter and they are quite seasonal as we know."

Ron Struthers  of the Struthers Resource Stock Report, also maintained a bullish stance on July 8, writing in his article "Precious Metal Stocks as Hot as the Heat Wave" that Goliath's drill results "are revealing a world-class gold discovery." He noted that 92% of holes drilled in 2024 contained visible gold and highlighted GD-24-260, which assayed 34.52 g/t gold equivalent over 39 meters, as the standout result to date. "The stock is in an uptrend and has made higher highs," he wrote, citing a near-term target of CA$2.70 and adding, "I still see a lot of upside from here."

Struthers pointed to the upsized 60,000-meter drill program and the presence of abundant visible gold in reduced intrusion-related gold (RIRG) dykes and calc-silicate breccias as catalysts that could continue to drive value. He concluded, "With nine drill rigs turning this season, there will be all kinds of very good drill results coming to propel the stock higher."

Ownership and Share Structure

According to Goliath Resources, management and insiders own 20% of its shares on a partially diluted basis. 

Strategic and institutional investors collectively own 32.5%, with notable holdings including Crescat Capital LLC at 12.2%, Global Commodity Group (Singapore) at 5%, McEwen Mining at 4.8%, Waratah Capital Advisors 4.3%, Rob McEwen at 3.2%, Eric Sprott at 2% and Larry Childress at 1%. 

The remaining shares are held by other institutional funds and retail investors. 

Post this current round of financing, Goliath has 161.7  million issued and outstanding shares and (141.86M free float traded shares??). Its market cap is CA400M  Its 52-week range is CA$0.90  – CA$2.87 per share.