Goliath Resources GOTRF interesting to note...
Trading right where they were in January of 2022... around $0.87... even though what they have to show in proofs now is nothing like what they had two years ago... a common issue in the gold miners today, where they even decline in price the more value they prove to be sitting on... and the closer they move toward making it matter... exactly as is occurring now at NFGC and NFLDF in Newfoundland...
Goliath clearly had a good season, made some nice finds, generating a big list of "prospects" while demonstrating geological connections that are consistent regionally along strike, and now are reeling in money from Crescat Capital and McEwen... They were already reporting good grades and widthsfollowing the 2022 season.
I was impressed, yesterday, when I found Benton Resources reporting a crazy channel sample of an outcrop that had a nice bit of rare metal... a 1.2 meter channel sample with 0.33% rubidium. They've not touted it much, not even putting it in the headline... but .33% is 2993 grams per ton... or about 93 ounces per ton...
Shopping for rubidium... the best value I find is 100 grams of 99.75% for $2160... so, call that $690/oz...
making a ton, roughly a cubic meter of rock with 93oz/ton in it, worth... ~$64,000. A ton of that in the back of your truck... and you can buy a new truck with it. It's probably just an one off "rich sample"... rather than a more extensive aggregation of rock containing that value in a more extensive deposit... but, still might add a nice bump to the value present in your find of 0.41% lithium... Worth keeping an eye on that, anyway.
One percent would be 9072 grams per ton... not an outrageous value to find in copper, or other base metals... or even the occasional silver vein showing values that high... around 283 ounces per ton...
Not sure I've ever seen a company reporting drill results on a gold project with those sorts of values... that have them reporting the gold in % instead of grams our ounces per ton...
But Goliath just did that: GD-23-197 intercepted a 19.15 meter interval (~true width) within the Hazelton Volcanics and outcropping Golden Gate Zone consisting of multiple shears containing abundant Visible Gold up to 1% and gold nuggets up to 4mm...
They're consistently reporting decent intercepts with decent values, with many holes coming in near the one ounce per ton range... but the language used in that report appears dangerously close to crossing lines in over-reporting... it does not appear that they have an intercept of 19 meters containing 1% gold... but have a nice intercept with some decent nuggety portions...
The language used, frequently highlighting visible gold... trends into the overly promotional...
And, while I can appreciate they may be excited by what they're finding, and want you to be excited by it too... the way they're communicating appears likely, to me, to create problems in result, which they really have no reason to invite...
I'd much rather see them do a better job of conveying the nature of the relationships in what they're finding... putting it in context better than they are doing now... without using language intended to generate excitement... rather than language intended to foster a clearer understanding of what they have accomplished... and what they have not... |
