Golden Goliath's Kwai till samples contain Au grains
2020-07-07 01:11 ET - News Release
Mr. J. Paul Sorbara reports
Golden Goliath Resources Ltd. has completed till sampling program on its Kwai property in the Red Lake Mining district and located pristine gold grains in multiple locations. In 40 attempts to dig till or soil samples along the 10 km length of the Kwai property covering multiple faults associated with the Pakwash Fault, 24 till basal samples were recovered and sent to Overburden Drilling Management in Nepean (Ottawa), Ontario. The results were received late Monday July 6th and are summarized here. All 24 samples of till yielded gold grains and 17 till samples contained Pristine gold grains which are indicators of near-by gold mineralization. Soil sampling assays have also been received which found scattered indicator pathfinder elements in the fine soil fraction of As, Sb, Cu, Bi, Pb, Mo, V, and W, (Arsenic, antimony, copper, Bismuth, lead, molybdenum, vanadium, and Tungsten.)
The largest concentration of gold grains appears to correspond to IP anomalies previously located in 2019 on the west grid but numerous till sites on the eastern IP grid also correlate with the IP anomalies along the major faults that occur in the siliceous tuffs and sediments flanking a basalt marker. IP surveying is continuing at Kwai despite rain and thunderstorm interruptions and is extending these known IP anomalies. Once the IP survey is complete, by mid July, drill hole plans can be finalized based on these till results and chargeability anomalies occurring up ice from the gold anomalies.
Golden Goliath CEO, Paul Sorbara, comments: "I am really pleased! It had been stated that Golden Goliath has very good geology, structure and targets but next needs the till sampling results as proof that there is gold in the area. Evidence that the Pakwash Fault may be pregnant. Well, we now have that evidence. It will be exciting to see what the 2020 IP survey shows and how it correlates with the till geochemistry. We also have much better understanding of the geology and we are very happy about our situation, as we prepare for the drill phase. Ground truthing of the newly identified IP anomalies will occur before final drill site selection."
This news release has been reviewed by Robert S. Middleton P.Eng who is acting as QP for this phase of the exploration under the NI43-101 requirements.
About Golden Goliath
Golden Goliath Resources Ltd. is a junior exploration company listed on the TSX Venture Exchange (symbol GNG). The Company is focused on exploring and developing the gold and silver potential of properties in the Red Lake District of Ontario. The Company also holds a 100% interest in the San Timoteo property, located in the Sierra Madre Occidental Mountains of northwestern Mexico, as well as NSR royalties on several other nearby properties, and 100% of the La Cruz property, also in Chihuahua.