Golden Goliath Resources (GNG) now holds a 100 per cent interest in the Wish Ore Property.
The company acquired full interest in the property after completing the terms of an option agreement signed in April 2019.
Upon the closing of the acquisition, Golden Goliath signed contracts with Terraquest Ltd. to conduct surveys over the property, in addition to geological mapping and prospecting.
The 2021 mapping project will be focused on understanding the geology, structure and continuity of the large alteration zone.
The Wish Ore property is located 60 kilometres north of Sault Ste. Marie, Ontario and is comprised of 15 mineral claims totaling 103 claim units.
The Batchewana Greenstone Belt on which the property is located is dominated by volcanic rocks that trend east to west with lenses of quartz-rich felsic volcanic units and the Carp River Fault running parallel to the trend.
A prospector discovered several mineralized shear zones in 2013, including a silicified zone south of the Carp River Fault that revealed up to 25.57 g/t of gold.
Golden Goliath conducted an IP program in 2019, accompanied by a sampling program which returned gold grades of up to 4.28 g/t over 3 metres in the New Zone. The company confirmed these gold grades in a geochemical survey completed in 2020.
The 2021 program is focused on understanding the big picture of these very prospective rocks and to determine future drill targets.
Golden Goliath Resources Ltd. (GNG) is steady, trading at $0.075 per share as of 9:37 am ET.