NewsGolden Goliath to send second drill to Mexico
Golden Goliath Resources Ltd (C:GNG)
Shares Issued 42,283,561
Last Close 3/27/2007 $0.40
Wednesday March 28 2007 - News Release
Mr. Paul Sorbara reports
GOLDEN GOLIATH RESOURCES LTD. - SECOND DRILL PROPOSED FOR URUACHIC
Golden Goliath Resources Ltd. is negotiating for a second diamond drill for the major program now under way at its 100-per-cent-owned Uruachic mining camp properties. The second drill, which will be available in about two weeks, would allow the company to be more aggressive in its exploration efforts.
Further to the company's news release in Stockwatch of March 1, the company anticipates the close of its $6-million financing in mid-April.
Currently, drilling is under way in the area of the old San Martin mine on the San Timoteo property. The old San Martin adit, which is the only one in the Uruachic camp known to have tracks, lies just above the bottom of the arroyo, approximately 275 vertical metres below the recent drilling. The old records state that the average production grade from San Martin was 7.8 grams gold per tonne and 1,038 grams silver per tonne. The records state that the structure is 2.2 metres wide and 1,000 metres long. Assays for the last four short holes drilled near the San Timoteo workings returned only two intervals with values over 30 grams silver per tonne. Assay results will be released in batches once they have been received and analyzed by the company.
© 2007 Canjex Publishing Ltd.
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