New Potential GOLD Settings Discovered Encourage Further Follow-up at Kwai
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NEW POTENTIAL GOLD SETTINGS DISCOVERED
ENCOURAGE FURTHER FOLLOW-UP AT KWAI
Vancouver, October 5, 2021, Golden Goliath Resources Ltd. (TSX.V GNG ) (US: GGTH-F) (Frankfurt: GGZ)
Golden Goliath Resources Ltd. GNG TSX-V, has been drilling on the Kwai
gold property since July and has now completed holes K21-25 to K21-35.
K21-25 to K21-28 tested the area around the anomalous gold value that
was returned earlier in drill hole K21-21 on the south side of Beauregard
Lake. K21-29 to K21-34 tested IP anomalies on the Pakwash fault east of
Beauregard Lake. The final hole in the program, K21-35, tested a mag and
structural anomaly with weak IP in an area northwest of Beauregard Lake
that is now interpreted to be directly up ice of the high gold in till values
returned in early 2020.
Hole K21-35, which was just completed on October 1, cut multiple zones of
brick red potassic alteration associated with brecciation, silicification,
hematite and up to 15% disseminated sulfides. This hole was located off
the main trend of the Pakwash fault targeting a crosscutting northwest
trending magnetic anomaly associated with a weak IP anomaly. Recent
geological fieldwork has established a 040 degree ice direction, which is
much steeper than previously understood. This places K21-035 directly up
ice of the strong gold in till results found on the West Grid. This alteration
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: danielnosfriet [email protected]
is very similar to a style of mineralization seen in the Red Lake region, in
particular in the Spring Pole deposit area in the north end of the Uchi belt.
There are a number of untested weak IP anomalies beneath conductive
overburden that are now potential targets and a large area of the northern
part of the property has yet to be surveyed by IP. The original Kwai gold
showing is in this area of unexplored terrain.
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: danielnosfriet [email protected]
Figure 1: Red Lake District Properties including the Kwai and SLF properties of Golden Goliath
In July four holes were drilled to follow up on an anomalous gold value of
864 ppb over 1 m in hole K21-21 and these were K21- 25 to K21-28, all of
which intersected a shear-fault zone on the south s ide of Beauregard Lake
in a feature parallel to and south of the Pakwash F ault. Although no further
gold values were encountered in these four holes, a 400-500m long section
of the structure with associated IP anomalies has yet to be drill tested.
The area east of Beauregard Lake was tested by hole s K21-29 to K21-34
on lines 28E, 30E, 32E, 34E, 39E and 41E. Three oth er potential gold
settings were encountered. Silicified sediments sim ilar to those that occur
on the Great Bear Dixie property to the north lie along a basalt contact, and
wide albite alteration zones occur in holes 31 and 32. In addition a shear
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: danielnosfriet [email protected]
zone in basalt was found in hole K21-34 with dissem inated pyrite and
lenses of quartz. Assays are pending on these holes.
Figure2: Kwai Property showing completed drill hole locations
The drill was then moved to an area north of the We st Grid on line 6E
where hole K21-35 intersected the very interesting zone of potassic
alteration, silicification and hematite. A pause in the program will now take
place to give time for assays to catch up prior to expanding the coverage of
the Kwai project.
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: danielnosfriet [email protected]
Golden Goliath CEO Paul Sorbara PGeo comments:
“This drilling project, in such a great area of pro spective geology,
continues to exite our team as we explore along the Pakwash fault
boundary edge of the Uchi Subprovince. We have conf idence in the
potential of the Kwai property given the number of favourable
environments we have identified and, given the rece nt LP Fault deep
drilling success at Great Bear, the fact that all o f our drill holes are
shallow. Our improved understanding of the geology, ice history, and
models of mineralization are focusing our search. I would also like to
thank Niigaani drilling, and the Ministry of Northe rn Development, Mines,
and Forestry for ensuring our program could be comp leted through what
was a very difficult forest fire season in the area.“
QAQC
All the gold values reported in this round of drilling were obtained by fire assaying 30 gm
samples. 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.
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: danielnosfriet [email protected]
About Golden Goliath
Golden Goliath Resources Ltd. is a junior explorati on company listed on the TSX Venture
Exchange (symbol GNG). The Company is focused on ex ploring and developing the gold and
silver potential of properties in the Red Lake Dist rict 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 .
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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]
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release.
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: danielnosfriet [email protected]