Golden Goliath Discovers New GOLD Bearing Shear Zone at Kwai - Pakwash Property
Corporate Office – Canada Corporate Office – Mexico
Suite 711 675 West Hastings Street, Vancouver, BC Minera Delta S.A. de C.V.
V6B-1N2, Canada C. Juan Felipe Orozco #516
Tel: (604) 682-2950 Col. San Felipe 31240 Chihuahua, Chih.
Fax: (604) 685-3764 Tel and Fax: (011 52) 614 414 6226
Email: [email protected] Email: [email protected]
TSX.V:GNG
www.goldengoliath.com
GOLDEN GOLIATH DISCOVERS NEW GOLD BEARING SHEAR ZONE
AT KWAI - PAKWASH PROPERTY, RED LAKE, ONTARIO
Vancouver, May 25, 2021, Golden Goliath Resources Ltd. (TSX.V GNG ) (US:
GGTH-F) (Frankfurt: GGZ)
Golden Goliath R esources received the final assays for 5 drill holes that
were drilled along the south shore of B eauregard lake (holes K21- 17- 21)
during the week of May 10. The holes were designed to test an IP
anomaly found during the lake IP survey conducted earlier this year.
Results for the drill holes on the north side of the lake, designed to test the
Whale anomaly are not yet complete.
Figure 1: Red Lake District Properties including the Kwai and SLF properties of Golden Goliath
Corporate Office – Canada Corporate Office – Mexico
Suite 711 675 West Hastings Street, Vancouver, BC Minera Delta S.A. de C.V.
V6B-1N2, Canada C. Juan Felipe Orozco #516
Tel: (604) 682-2950 Col. San Felipe 31240 Chihuahua, Chih.
Fax: (604) 685-3764 Tel and Fax: (011 52) 614 414 6226
Email: [email protected] Email: [email protected]
Drilling on a strong one kilometer I.P. trend on the south side of
Beauregard Lake has produced an important gold value hosted in sericite
schists with associated pyrite and minor chalcopyrite. Hole K21- 21 drilled
on line 1 600E intersected 824 ppb gold over 1 metre from 103 - 104 m in
rocks dipping south at 80 deg. The eastern 600m of this anomaly occurs on
a peninsula on the south shore of Beauregard Lake where the remainder
extends west under a bay heading to the West Grid (Figure 2).
Figure 2 IP anomalies and drill holes completed at Beauregard Lake
Of significant note, a number of gold discoveries have been made in shears
in the Porcupine Camp and in Hemlo where anomalous gold occurs
Corporate Office – Canada Corporate Office – Mexico
Suite 711 675 West Hastings Street, Vancouver, BC Minera Delta S.A. de C.V.
V6B-1N2, Canada C. Juan Felipe Orozco #516
Tel: (604) 682-2950 Col. San Felipe 31240 Chihuahua, Chih.
Fax: (604) 685-3764 Tel and Fax: (011 52) 614 414 6226
Email: [email protected] Email: [email protected]
exceeding 300 ppb with the ore zones occurring within 100m of the
anomalous value. These values are a good guide to more mineralization.
Also of note, this shear zone occurs south of the Pakwash Fault near the
contact of a large felsic tuffaceous sediment sequence exposed on the
shore of the lake, and mafic package of Uchi rocks discovered by drilling.
As a result, other IP anomalies south of the Pakwash require follow up.
In addition this gold intersection occurs east of the west grid gold till
anomalies from a possible source area for the high gold grain counts in the
tills (Figure 3).
Figure 3 Gold Grains Probable Source Area Plot For West Grid
Corporate Office – Canada Corporate Office – Mexico
Suite 711 675 West Hastings Street, Vancouver, BC Minera Delta S.A. de C.V.
V6B-1N2, Canada C. Juan Felipe Orozco #516
Tel: (604) 682-2950 Col. San Felipe 31240 Chihuahua, Chih.
Fax: (604) 685-3764 Tel and Fax: (011 52) 614 414 6226
Email: [email protected] Email: [email protected]
A follow up drill program will be carried out in the next round of drilling with
step out holes initially at 100m intervals when ground conditions are
favorable (Figure 4). At least three thousand more meters of drilling are
planned and budgeted for this year on the Kwai property.
Figure 4 Kwai property completed and new proposed holes around Beauregard Lake
Also in the past two weeks a Mise a la Masse geophysical survey has been
carried out to assist in tracing the massive sulfide zone identified in hole s
K21-22 and K21- 23 on the Whale anomaly on the north side of the lake .
This survey will track the sulfide zone and the parallel package of felsic
volcanics within and parallel to the Pakwash fault.
Corporate Office – Canada Corporate Office – Mexico
Suite 711 675 West Hastings Street, Vancouver, BC Minera Delta S.A. de C.V.
V6B-1N2, Canada C. Juan Felipe Orozco #516
Tel: (604) 682-2950 Col. San Felipe 31240 Chihuahua, Chih.
Fax: (604) 685-3764 Tel and Fax: (011 52) 614 414 6226
Email: [email protected] Email: [email protected]
QAQC
All the gold values reported in this round of drilling were obtained by
assaying 30 gm samples prepared at SGS Red Lake and were fire assayed.
Blank and standards were inserted into the sample stream alternating at
25m intervals.
This news release has been reviewed by R.S. Middleton P .Eng who is
acting as QP for this phase of the exploration under the NI 43- 101
requirements.
On behalf of the Board of Directors
Paul Sorbara, MSc, PGeo
CEO, Golden Goliath Resources Ltd.
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.
To find out more about Golden Goliath visit our website at www.goldengoliath.com.
Corporate Office – Canada Corporate Office – Mexico
Suite 711 675 West Hastings Street, Vancouver, BC Minera Delta S.A. de C.V.
V6B-1N2, Canada C. Juan Felipe Orozco #516
Tel: (604) 682-2950 Col. San Felipe 31240 Chihuahua, Chih.
Fax: (604) 685-3764 Tel and Fax: (011 52) 614 414 6226
Email: [email protected] Email: [email protected]
Cautionary Statements Regarding Forward Looking Information
Certain statements included herein may constitute “forward-looking statements”. All statements
included in this press release that address future events, conditions or results, including in
connection with exploration activity, future acquisitions and any financing, are forward-looking
statements. These forward-looking statements can be identified by the use of words such as
“may”, “must”, “plan”, “believe”, “expect”, “estimate”, “think”, “continue”, “should”, “will”, “could”,
“intend”, “anticipate” or “future” or the negative forms thereof or similar variations. These
forward-looking statements are based on certain assumptions and analyses made by
management in light of their experiences and their perception of historical trends, current
conditions and expected future developments, as well as other factors they believe are
appropriate in the circumstances. These statements are subject to risks, uncertainties and
assumptions, including those mentioned in the Company’s continuous disclosure documents,
which can be found under its profile on SEDAR ( www.sedar.com). Many of such risks and
uncertainties are outside the control of the Company and could cause actual results to differ
materially from those expressed or implied by such forward -looking statements. In making such
forward-looking statements, management has relied upon a number of material factors and
assumptions, on the basis of currently available information, for which there is no insurance that
such information will prove acc urate. All forward-looking statements are expressly qualified in
their entirety by the cautionary statements set forth above. The Company is under no obligation,
and expressly disclaims any intention or obligation, to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise, except as
expressly required by applicable law.
FOR MORE INFORMATION CONTACT:
Golden Goliath Resources Ltd.
J. Paul Sorbara, M.Sc., P.Geo
President & CEO
Phone: +1(604) 682-2950 Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange ) accepts responsibility for the adequacy or accuracy of this
release.