Gold Explorer Discovers High-Grade Intercepts in British Columbia

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Goliath Resources Ltd. (GOT:TSX.V; GOTRF:OTCQB; B4IF:FSE) reported new assay results from its 2025 drill program at the Surebet Discovery, located on the 100% controlled Golddigger Property in British Columbia's Golden Triangle. The company stated that drill hole GD-25-337 intersected 10.60 grams per tonne (g/t) gold over 22.82 meters, including 15.19 g/t gold over 15.71 meters, with subintervals of 37.28 g/t gold over 3.36 meters and 36.11 g/t gold over 3.08 meters. The company noted that the intercept was approximately true width and assays reflected gold only, with silver, copper, lead, and zinc values pending.

Additional intercepts included 12.16 g/t gold over 6.0 meters from hole GD-24-277, 11.03 g/t gold over 5.7 meters from GD-25-318, 10.08 g/t gold over 5.0 meters from GD-25-343, and 6.85 g/t gold over 6.0 meters from GD-25-334. These results came from quartz-sulphide mineralized zones containing visible gold, sphalerite, pyrrhotite, chalcopyrite, and galena. According to the company, the 2025 drill season has so far completed 65 holes totaling 45,000 meters, with 50 holes and 15,000 meters remaining.

Since 2021, drilling at Surebet has consistently intersected mineralization, with Goliath reporting a 100% hit rate in completed holes and visible gold in 95% of 2025 drill holes. The company highlighted that the mineralized footprint now covers 1.8 square kilometers, greater than half the size of New York's Central Park, with drilling confirming mineralization in multiple rock packages including quartz-sulphide breccias, Eocene-aged Reduced Intrusion Related Gold (RIRG) dykes, and calc-silicate altered breccias.

Dr. Quinton Hennigh, Geologic and Technical Advisor to Crescat Capital, a strategic investor in Goliath, stated in the release: "Goliath's exploration team, having synthesized a detailed model of the Surebet high-grade mineralizing system after the 2024 season, was thoroughly prepared to undertake an aggressive, highly focused drill program this season. The success rate of mineralized intercepts encountered thus far is remarkable, and now we see the fruits of this work in the form of exceptional assays coming back from early holes."

Goliath's Founder and CEO, Roger Rosmus, added: "The more we drill at the Surebet the better it gets with pleasant surprises along the way, which is a good rule of thumb about how new discoveries can become future mines. Most notably, the Surebet Discovery has widespread drill holes with gold visible to the naked eye and several containing high gram x meter assays."

Gold Maintains Strength Amid Market Uncertainty

The gold sector continued to show resilience in August, supported by investor concerns over rising global debt, persistent inflation, and equity market volatility. On August 20, gold futures opened at US$3,359 per ounce, a 1.4% increase from the previous close. While slightly below the August 11 peak of US$3,383.90, prices remained 34.2% higher compared with the same period last year.

Yahoo Finance's Catherine Brock noted on August 18 that the advance in gold prices coincided with weakness in U.S. equities. That day, the Nasdaq Composite declined 1.4% and the S&P 500 fell 0.5%, underscoring gold's role as a defensive asset. She also pointed to investor expectations of a possible U.S. Federal Reserve interest rate cut in September, adding that policy uncertainty could provide further support for the metal.

In a separate commentary the next day, VBL wrote in GoldFix that gold's historical strength lies in its ability to preserve purchasing power compared to fiat currencies. He emphasized that since 1971, paper currencies have lost more than 99% of their value against gold, stating, "Gold, which is far more honest than policy makers, rises because paper money always dies under the weight of dishonest spending."

Analyst Matthew Piepenburg echoed these views on August 20, citing global debt levels surpassing US$300 trillion. "Debt destroys currencies, freedom and nations," he wrote, arguing that tangible assets serve as a means of wealth preservation.

Later in the month, Shad Marquitz of Excelsior Prosperity highlighted both technical and fundamental dynamics in his August 24 weekly update. He observed that the Gold Miners Bullish Percentage Index (BPGDM) closed at 100% on August 22, a rare level reached only twice in the past decade, before the peaks of 2016 and 2020. While cautioning that such signals are not definitive sell indicators, Marquitz wrote, "It is prudent to occasionally stop mid-celebration and at least review if things are getting a bit frothy in the near-term." He and guest analyst Dave Erfle of Junior Miner Junky both maintained confidence in the longer-term fundamentals of the sector.

Analyst Coverage and Institutional Support Highlight Goliath's Advancing Position

On July 7, 2025, Steven Ralston of Zacks Small-Cap Research raised his price target for Goliath Resources to US$4.04. He explained that the valuation was based on applying a 1% discount to the in situ value of estimated outlined and expected gold-equivalent ounces at the Golddigger Project. The report stated that the new target incorporated "financing and expected results."

That same day, Zacks Small-Cap Research initiated separate coverage on the company with a Buy rating and a 12-month target price of CA$2.86. Analyst Brian Wortel cited the scalability of the Surebet Discovery and wrote, "Goliath has reported consistent high-grade drill results across a wide area with significant vertical continuity." Wortel pointed to the project's infrastructure advantage of being located near tidewater in the Golden Triangle and highlighted the 48.8% gravity-recoverable gold rate, which he said could support favorable project economics. He added that "the company's aggressive drill program and high hit rate make it a strong candidate for acquisition or joint venture interest."

On July 8, Ron Struthers of the Struthers Resource Stock Report also expressed a positive outlook. He referenced a key intercept of 34.52 g/t gold equivalent over 39 meters and emphasized the scale of the ongoing 60,000-meter drill program, with nine rigs active, as a major driver of momentum.

Analyst Jay Taylor in his July 11 hotline stated, "Goliath Resources Ltd. announced more positive assay results from the relogging and sampling of drill hole GD-24-280, which returned an intercept of 8.31 g/t Au over 23m, including 15.69 g/t Au over 11m, including 37.45 g/t Au (or 1.2 oz/ton) over 4m in a third rock package within the Bonanza zone on the Golddigger project. . .[it] remains wide open."

Later in the month, Chen Lin reiterated his support in the July 28 edition of What is Chen Buying? What is Chen Selling? Following results that included 11 g/t gold over 4.85 meters, he noted that the company had maintained a 100% hit rate with 94% of holes containing visible gold. He described Goliath as "the next big discovery" and confirmed that he continues to hold a position in the stock.

Building Momentum at Golddigger

Goliath's 2025 campaign is designed to expand the geometry of the Surebet Discovery both laterally and at depth. According to the company's July 2025 investor presentation, the program includes testing for a potential magmatic intrusive source, drill testing of 13 additional Eocene-aged dykes, and targeting new "Goldilocks Zones" where multiple mineralization styles intersect. The company has outlined 60,000 meters of drilling for the year with nine rigs on site.

The project benefits from infrastructure advantages, with barge access to Prince Rupert and proximity to the community of Kitsault, which includes a permitted mill site and housing facilities. Metallurgical testing has indicated gold recoveries of 92.2% from gravity and flotation at a 327-micrometer crush size, including 48.8% free gold recovery from gravity alone, without cyanide requirements.

The company also noted that it has expanded its land package by 28% to 91,518 hectares, controlling 56 kilometers of the Red Line geological contact, an area known to host several of the Golden Triangle's major deposits. With over 92,000 meters drilled across more than 400 pierce points since 2021, Goliath has established a significant exploration database that will guide the remainder of the 2025 program. 

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. 

Goliath has 163 million issued. Its market cap is CA$359 million with a 52-week range of CA$0.95 – CA$2.87 per share.