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Chip samples assayed 21.3 g/t Gold and2,210 g/t Silver at Golden Goliath’s Las Bolas Property
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HIGHLIGHTS
·Thehighest goldgrade is 21.3 g/t and the highest silver 2,210g/t.
·A12thnew-veinsample has returned 9.1 g/tgold & 919.5 g/tsilver, brining in the total number of veins to twelve.
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Vancouver, ,December 17, 2009 - Golden Goliath Resources Ltd. (TSX.V:GNG) (US:GGTH-F) Forimmediate release
Golden Goliath is pleased withthe latest work progress on its Filo de Oro Target area which has returnedexceptionally high grade gold and silver values (please see the table of assaysbelow).The first six assays in the table below comefrom the same working, called Cata 3, referred to in the Company’s Novemebr 30thpress release, confirming the high grade nature of the structures. This highgold grade mineralization is hosted in the Los Hilos vein system, with structurestrending 70° azimuth cross cut by structures with 330° azimuth. These highgrade structures are surrounded by a low grade gold bulk-tonnage target at Filode Oro. Please see figure below for the location of the samples.
|
Sample
|
Gold
gm/tonne
|
Silver gm/tonne
|
Width
(m)
|
|
808461
|
21.3
|
695
|
0.35
|
|
808462
|
4.09
|
2,210
|
0.60
|
|
808463
|
4.32
|
1,460
|
0.60
|
|
808464
|
15.2
|
1,120
|
0.60
|
|
808465
|
2.15
|
414
|
0.50
|
|
808466
|
0.62
|
204
|
0.65
|
|
194199
|
9.1
|
919.5
|
1.10
|
New Vein Discovery:
Inaddition to the high grade gold silver mineralized veins in Filo de Oro target,the company is equally encouraged by finding a new vein, called Silicosa,bringing in the total number of known silver and gold bearing veins on the LasBolas property to 12. The Companybelieves that the potential for more of these veins to be found on the propertyis excellent.A chip-sample across the newvein (sample 194199) assayed 9.1 g/t gold & 919.5 g/t silver over 1.1mwidth. The new vein lies within the Las Bolas –Gambusino mineralized trend andis striking 70° azimuth. A previous grab sample from the vein returned 3.94g/tgold and 647g/t silver. The Silicosa vein is 390 metres northwest of the LosHilos vein system and is projected to intersect Filo de Oro at right angle.
GoldenGoliath’s president Paul Sorbara, P.Geo commented: “We are very pleased withour work progress at Las Bolas in general and Filo de Oro in particular, wherewe are finding exceptionally high grade gold-silver veins within an area ofdisseminated mineralization, which offers the possibility of a bulk minablesituation. Our focus is currently detailed litholgical, structural andalteration mapping of the area and its old workings, some of which are veryextensive, combined with detailed sampling.We want to have as much information as possible about Filo de Oro before we select final targets forthe next drill program. We are scheduling to resume work on Las Bolas,including the Filo de Oro target, after the Christmas break, in the New Year.”
Las Bolas Veins:
Inaddition to the 12th newly found vein, Silicosa, the recentlysubmitted NI 43-101 report on Sedar lists the other 11 mineralized veins asfollows:
Las Bolas, Frijolar, El Manto, ElCorazon, Providencia, San Luis1, San Luis 2, Maguachi, Los Hilos,LosHilos 2and Moscade Plata.
Mostofthe aforementioned veins have been traced over 1000 m and contain numerousexploration pits, shafts, sub-levels & tunnels up to 400 m in length, demonstratingthat mineralization is extensive. These vein systems are open in all threedirections with known mineralization extending to depth.
Filo de Oro Zone
Arecently recognized (not included in the NI 43-101 report), gold dominant,mineralized trend called Filo de Oro intersects the other three mineralizedvein trends (Las Bolas-Gambusino, Frijolar and El Corazon trends). This crosscutting trend contains veins grading in the range of0.43 g/t gold,30 g/t silver over 1.1mto 78.1 g/t gold, 204 g/t silver 0.5m as wellas disseminated mineralization, suggesting good potential for a bulk minablegold/silver deposit with high grade feeder veins running through it.Filo de Oro is open in all directions and hasa higher gold ratio.
Location:
GoldenGoliath Resources’ Uruachic mining district is situated in the heart of theSierra Madre precious metal belt and is surrounded by mines owned by majormining companies like Fresnillo PLC. Fresnillo’s Orisyvo deposit hosts 2.8million ounces of gold and its only 7 kilometres from Golden Goliath property(source:Fresinillo’s website, www.fresnilloplc.com).Please visit thecompany’s updated website https://www.goldengoliath.com/propertiesLasBolas.html to see the location map.
TheCompany is very pleased with the developments on its 100% owned Las Bolasproperty and looks forward to a successful 2010 exploration and developmentprogram.
About Golden Goliath
GoldenGoliath Resources Ltd. is a junior exploration company listed on the TSXVenture Exchange (symbol GNG). The Qualified Person who has reviewed thisrelease is J. Paul Sorbara M.Sc., P.Geo. The Company is focused on exploringand developing the gold and silver potential of an historic mining camp locatedin the world famous of northwestern .Golden Goliath’s Uruachic claims are owned 100% by the Company and are fullypaid for with no property option or purchase payments to make.