News - GNG drills four holes at San TimoteoGolden Goliath drills four holes at San Timoteo
2006-12-21 13:11 ET - News Release
Mr. J. Paul Sorbara reports
EXPLORATION UPDATE
Golden Goliath Resources Ltd. has now completed another four diamond drill holes on the San Timoteo property, bringing the total number of holes completed on the property to 18. No further holes on San Timoteo are planned at this time with the small drill rig currently being used. These shallow holes will be followed up with much deeper drilling as soon as a suitable drill is available. Samples from the last holes are being sent to Chemex labs for analysis by fire assay with gravimetric finish and 32-element ICP. Results are expected in early January. Drilling has now stopped for the holidays but will resume early in the new year with the same shallow drill rig on the La Reforma property, about two kilometres northwest of San Timoteo.
For the past two months, exploration work has also been continuing on the Las Bolas property. The survey grid for the westerly extension of the induced polarization survey to give coverage of the El Manto area has been completed and the geophysical crew is expected to conduct this IP work in early January. Underground rehabilitation has also been under way in three different areas on Las Bolas. Two vertical shafts, Arbolito and Tiro Mesa Seca, are in the process of being excavated. At Arbolito, 55 vertical metres have been opened and at least one tunnel, which trends toward the Mesa Seca area, has been found connecting to the shaft. Loose rock has made the vertical excavation difficult. The Mesa Seca shaft has been excavated to a depth of 15 m and the crew is in the process of clearing debris and retimbering to make further access safe.
Rehabilitation is also under way on various sublevels of the extensive Las Bolas mine workings. The rehab crew recently accessed a new area of these workings that hosts extensive breccia and vein mineralization, which looks very favourable. The geological crew has only taken preliminary samples to date, as work to make the area safe is still under way. Extensive surveying, mapping and detailed rock sampling of this exciting new zone will take place in early January.
The company has been actively searching for a suitable drill rig that will allow deep drilling in the Las Bolas area, as well as follow-up deep drilling of the recent short holes on San Timoteo and La Reforma. Suitable drills are in short supply in Mexico and the company is on the wait list with every suitable contractor. Drilling will commence as soon as possible in the new year.