08:55 AM EDT, 07/22/2024 (MT Newswires) -- Goliath Resources ( GOTRF ) , whose shares rose 6.1% on Friday, said on Monday that exploration drilling at its Golddigger project in British Columbia showed high-grade visible-gold intercepts.

The company said one hole drilled into the Surebet target on the site showed visible gold in four mineralized zones, totaling 105 meters of mineralization that included "dense quartz-sulphide breccia, stockwork and veining containing abundant visible gold, galena, and sphalerite".

Goliath said the hole, GD-24-237, was drilled 111 meters from Surebet's main mineralized zone and expands the known size of the deposit to 1.8 square kilometers while remaining open on all sides. The company plans several additional deep holes in the area of the hole to further test the depth of mineralization.

"The current planned 2024 drill program includes 15,000 meters of diamond drilling on Surebet," Goliath said. "The drill program on Surebet is focused on testing its potential feeder source at depth below the valley floor, discovering new additional veins/shears, expansion of the known 10 vein footprint, and increased continuity of veins/shears."

The company's shares rose $0.07 to $1.21 Friday on the TSX Venture Exchange.