en.Wedoany.com Reported - Goliath Resources Ltd. recently provided an update on its Surebet gold project in Canada. The Bonanza zone has a surface strike length of 2.8 kilometers and remains open. Drilling has confirmed 1.8 kilometers of northwest-southeast and 1.1 kilometers of northeast-southwest trending mineralized zones, containing five veins with individual thicknesses of up to 19 meters, combined thickness of 27 meters, and grades as high as 13.53 grams per tonne gold equivalent. The sedimentary-volcanic rock contact zone is exposed in outcrops on both sides of the mountain, potentially extending mineralization 1.3 kilometers to the northeast and 600 meters to the southwest.

The company confirmed that the 2026 exploration program is fully funded, with approximately 50,000 meters of drilling expected to begin within weeks, focusing on expanding the Bonanza zone and other gold-rich areas. The program aims to further expand known mineralization and explore toward the source of the high-grade gold system. Previously, the Surebet discovery had completed over 150,000 meters of diamond drilling with more than 1,500 pierce points, achieving a 100% hit rate from 2021 to 2025 across an area exceeding 1.8 square kilometers.

Analyst John Newell assigned Goliath a "speculative buy" rating, with a near-term target price of CAD 4.10, mid-term target of CAD 8.25, and long-term target of CAD 11.50. He noted that early geological skepticism has been proven wrong, and the company continues to expand the system. In terms of capital structure, management holds 20%, institutional investors hold 35%, including Crescat Capital, McEwen Inc., among others, with a market capitalization of approximately CAD 280 million.

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