08:20 AM EDT, 08/12/2024 (MT Newswires) -- Goliath Resources ( GOTRF ) on Monday said drilling into the Treasure Island target at its Golddigger project in northern British Columbia showed mineralization though the company has not yet received assays for the cores.

The company said four holes drilled into the copper and gold prospect showed "up to 9.8 meters containing quartz stockwork and breccia hosting massive chalcopyrite (up to 8%) and pyrite (up to 10%); the zone remains open, and assays are pending".

"Our maiden drilling at our Treasure Island target is off to a great start and showing signs that it could be a second important discovery. Our team of geologists and drillers are doing a fantastic job completing drill holes and we are delighted with our early results and look forward to an expanded drill campaign," chief executive Roger Rosmus said in a release.

Goliath plans 1,600 meters of drilling in 11 holes at the target in its 2024 exploration program.

The company's shares closed down $0.02 to $1.13 on the TSX Venture Exchange.