Goliath Resources Ltd. (GOT:TSX.V; GOTRF:OTCQB; B4IF:FSE) reported additional assay results from the ongoing 2025 drill program at its 100% controlled Golddigger Property, located in British Columbia’s Golden Triangle. The latest results from the Surebet Discovery include high-grade gold intercepts from multiple drill holes, further expanding the mineralized footprint of the Bonanza Zone.
Drill hole GD-25-317 returned 3.17 grams per tonne (g/t) gold over 18.73 meters, including 5.10 g/t over 11.00 meters and 11.00 g/t over 4.85 meters. A second interval in the same hole intersected 3.64 g/t gold over 9.40 meters, including 6.02 g/t over 5.50 meters in the Surebet Zone. Visible gold was recorded in eight locations within this hole.
Drill hole GD-25-302 intersected two mineralized intervals within a 96.50 meter section. The first consisted of 2.26 g/t gold over 19.00 meters, including 6.28 g/t over 6.00 meters and 8.88 g/t over 4.00 meters. The second returned 1.59 g/t gold over 16.00 meters, including 3.44 g/t over 6.00 meters. These results extend the Bonanza Zone’s mineralized footprint 150 meters to the south. Both zones remain open in all directions. Drill hole GD-25-314 returned 2.25 g/t gold over 4.00 meters, including 2.82 g/t over 3.15 meters.
To date, Goliath has completed 34 holes totaling 25,000 meters of drilling as part of its 2025 program. The company plans to drill approximately 60,000 meters this season using nine active rigs. All holes drilled in 2025 have intersected quartz-sulphide mineralization, with 94% of the holes showing visible gold. Assays reported so far reflect gold values only, with results pending for silver, copper, lead, and zinc.
The Surebet Discovery has demonstrated consistent mineralization across multiple geological units, including stacked gold-rich veins, vertical Reduced Intrusion Related Gold (RIRG) dykes, and calc-silicate altered breccia zones. These packages contain visible gold and remain open for further drilling.
In the news release, CEO Roger Rosmus stated that “receiving exceptional gold only assays of 3.17 g/t Au over 18.73 meters, including 11 g/t Au over 4.85 meters from the first new holes completed in 2025 is a testament to the strong high-grade gold potential at Surebet.”
Recent re-logging of historical drill core yielded new mineralized intervals, including GD-22-64, which returned 6.31 g/t gold equivalent over 14.35 meters, and GD-24-280, which assayed 8.31 g/t gold over 23.00 meters. Assays are pending for an additional six holes containing visible gold from previous campaigns.
Gold Holds Steady in 2025 Amid Inflation and Safe-Haven Demand
On July 15, Stewart Thomson of 321gold noted the strength of cultural demand in Asia, particularly in China, where gold is widely viewed as a preferred savings vehicle. “In China, it’s clear that the young citizens are savers, and their favourite vehicle to save is gold,” he wrote. By contrast, Thomson observed that investors in Western markets tended to reduce gold exposure in response to positive economic data. He also pointed to seasonal patterns and inflation concerns, suggesting that inflationary pressures may intensify later in the summer, which could influence broader sentiment in metals markets.
Market volatility was evident on July 16, when Kitco reported a sharp intraday swing in gold prices of nearly US$60. The movement followed uncertainty related to Federal Reserve leadership and broader economic developments. Analyst Gary Wagner described the session as reflective of the market’s sensitivity to policy changes. Gold closed at US$3,359.10, up US$22.40 for the day, with a weaker US dollar contributing to the gain.
Gold-backed exchange-traded funds (ETFs) also experienced significant growth in the first half of the year. A July 18 report by Josh Chiat of Stockhead cited World Gold Council data showing that global ETF holdings had increased by 41% year-to-date, reaching US$383 billion in assets under management and totaling 3,616 tonnes. The Council stated that “gold, through its fundamentals, remains well positioned to support tactical and strategic investment decisions in the current macro landscape.”
Further analysis from Yahoo Finance on July 24 noted that both gold and bitcoin had posted 28% gains year-to-date as of mid-July. Roxanna Islam of TMX VettaFi commented that heightened market volatility had increased investor interest in alternative assets, including gold and bitcoin ETFs. J.P. Morgan Asset Management reported that gold ETF assets under management stood at US$170 billion in April, with SPDR Gold Shares (GLD) and iShares Gold Trust (IAU) leading the market at US$102 billion and US$48 billion respectively.
Analyst Coverage and Institutional Support Highlight Goliath's Advancing Position
Goliath Resources Ltd. received an upgraded target price of CA$2.90 from Red Cloud Securities on May 1, based on 2024 drill results at the Golddigger Property in British Columbia. Analyst Taylor Combaluzier cited a conceptual estimate of 4 to 6 million gold-equivalent ounces at an average grade of 6.62 grams per tonne. Red Cloud maintained a Buy rating, noting the potential for continued growth if 2025 results remain strong.
Institutional interest also grew. On May 10, Parilla Investment Group President Thomas J. Parilla identified Goliath as a core holding, referencing drill performance and leadership as key strengths. He pointed to internal estimates suggesting long-term acquisition potential.
In a May 18 report, George Billman of Resourceful Insights noted that Goliath’s market capitalization had increased by US$146 million since late 2023. He attributed this to exploration success across the property’s RIRG system and increasing insider ownership, which reached 51.5%.
Ron Struthers of the Struthers Resource Stock Report echoed this view on July 8, referencing a standout intercept of 34.52 g/t gold equivalent over 39 meters and noting the ongoing 60,000-meter drill program with nine active rigs as a major driver of current momentum.
In the July 28 edition of What is Chen Buying? What is Chen Selling?, Chen Lin reiterated his positive outlook on Goliath Resources following its latest drill results, which included 11 grams per tonne gold over 4.85 meters. He described the company as maintaining a 100% hit rate with 94% of holes showing visible gold, and indicated that many more results are expected in the coming weeks. Chen referred to Goliath as “the next big discovery” and confirmed that he continues to hold a position.
Exploration Momentum at Surebet
Goliath Resources continues to advance the Surebet Discovery within the broader Golddigger Property with a systematic and expanded drill program in 2025. According to the July 24 investor presentation, this year’s campaign increased the planned drill meters from 40,000 to 60,000, reflecting continued geological confidence in the area.
The company has identified three distinct mineralized rock packages containing visible gold: gently dipping stacked veins, vertically oriented Reduced Intrusion Related Gold (RIRG) dykes, and calc-silicate altered breccias. Updated modeling efforts have associated these structures with a deeper magmatic source, interpreted as the Motherlode intrusion.
The Surebet Discovery spans a surface area of 1.8 square kilometers, with mineralization exposed over 2.1 kilometers of strike length and 700 meters of vertical relief. Over 92,000 meters of drilling have been completed since 2021, with a hit rate of 100% mineralized intercepts. In 2024, 94% of holes included visible gold.
The company also highlighted gold recoveries of 92.2% from gravity and flotation methods, with 48.8% of gold recovered through gravity alone and no cyanide required. Metallurgical tests indicate no deleterious elements, and the site benefits from proximity to tidewater and permitted infrastructure in Kitsault, British Columbia.
Upcoming catalysts include continued assay releases from the 2025 drill campaign, results from early-season re-logging of 2021–2024 holes, and further exploration of untested feeder dykes and structural intersections known as “Goldilocks Zones.” These crosscutting zones host both RIRG dykes and stacked veins, areas considered key targets due to the overlap of mineralization styles.
Goliath has also increased its land position in the Golden Triangle to 91,518 hectares, controlling 56 kilometers of the Red Line, a geologic marker associated with several significant past-producing and active gold operations in the region.
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.
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