08:29 AM EDT, 08/06/2024 (MT Newswires) -- Goliath Resources ( GOTRF ) on Tuesday said exploration drilling into the Surebet target at its Golddigger property in northwest British Columbia's Golden Triangle region showed high-grade mineralization.

The company said all of the first eight holes drilled at the target in its summer exploration program showed gold mineralization, with six showing "abundant visible gold".

Results included 11.9 meters of core testing at 15.4 grams per tonne of gold and 17.11 gpt of silver, and 3.02 gpt of gold and 63.55 gpt of silver over 6.0 meters. Assays are pending on the remaining cores, though the company said gold grains of up to 1.3 millimeters were visible in them.

The results "suggest the drilling has tapped into the heat engine source of the gold mineralizing system at the Surebet Discovery," the company noted.

The company said its 2024 drilling program at Surebet will focus on delineating 10 known veins at the site. while also testing the Treasure Island gold and copper target.

Goliath shares closed down $0.04 to $1.11 Friday on the Toronto Stock Exchange.