2016 Exploration Summary Received FOR Optioned Properties
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]
TSX.V:GNG
www.goldengoliath.com
2016 EXPLORATION SUMMARY RECEIVED FOR OPTIONED
PROPERTIES
Vancouver, Canada, April 11, 2017 Golden Goliath Resources Ltd. (TSX.V GNG )
(US: GGTH-F)
The Company is pleased to announce that it has now received a summary of the
exploration work conducted during 2016 by Desarroll os Mineros El Aguila, S.A. de C.V.
(“El Aguila”), a wholly owned subsidiary of Fresnil lo PLC on the properties optioned to
them by the Company in the Uruachic Mining District.
The work included reconnaissance style geologic map ping, the collection of 4,939 rock-
chip samples, assayed at the ALS Laboratories in Va ncouver, with 215 additional
samples introduced in the batches and analyzed for quality control purposes (blanks
and standards). El Aguila also acquired World View 3 imagery covering the entire
Uruachi Project used for detailed topographic mapping and alteration mineralogy.
Analysis of the data defined six target areas on th e optioned properties, including La
Reforma, where mapping shows altered felsic tuffs o verlying an andesitic sequence
(agglomerate,tuffs, and flows), which in turn overl ie basement black shales. Younger
rhyolitic ignimbrites of apparent post-mineral age cover parts of the area. Hydrothermal
alteration of the felsic tuffs comprise moderate to intense silicification locally
accompanied by matrix-supported, silica cemented hy drothermal breccias showing
some vuggy quartz textures. Silica-clay and clay al teration zones surround the silicic
alteration; common clay mineralogy identified includes dickite, kaolinite, and alunite.
1,425 samples were collected from the main alterati on zones at Reforma. Anomalous
gold was found as per the table below. 61 control samples were included in the batches.
Au (PPM) Number of Samples
0 – 0.05 1 ,207
0.05 – 0.15 68
0.15 – 0.25 60
0.25 – 0.45 57
0.45 – 0.95 18
/head2right 0.95 15
TOTAL 1,425
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]
At La Reforma follow up 1:2,000 scale mapping and diamond drilling has recently been
conducted. Results from that drilling are not yet available.
In the Los Hilos area 827 rock-chip samples were collected and 15 samples contained from
1.4 to 3.2 gpt Au. 1:2,000 scale mapping and detailed sampling will be completed in 2017 to
define drill targets.
Drill targets were also developed on the Corona pro perty, but that drilling has not yet
commenced.
The La Reforma property is adjacent to Golden Golia th’s 100% owned San Timoteo
property. Golden Goliath’s 2016 field work on San Timoteo was encouraging and the
Company has designed and is currently refining, a f ollow up drill program for San
Timoteo.
The 2016 program involved using the Company’s Terra spec machine to analyze clay
minerals from existing, property wide, drill core a nd other samples including samples
from the area of the 500 level San Martin adit. Th at work showed that the Level 5
tunnel at San Martin (the lowest old working on the San Timoteo property), is above the
“bonanza zone” or paleo boiling level indicating gr eater potential at depth.
Previous, detailed mapping and rock channel samplin g within the Level 5 tunnel
revealed that there are three mineralized shoots ex posed within San Martin. A zone of
manto, or blanket, style mineralzation was also ide ntified in this area. The shoot closest
to the entrance of the 500 level tunnel is known as Manatial . This structure is exposed
for 32 metres with a weighted average of 0.301 ppm gold and 212 ppm silver. In the
central area of the tunnel, the La Cascada structure is exposed for 78 metres and
averages 0.629 ppm gold and 68 ppm silver. At the f ar end of the 500 level, the Pozo
de Agua structure is exposed for at least 84 metres, with continuous channel sampling
averaging 0.795 ppm gold and 251 ppm silver. Additi onal non continuous sampling
outside of this section also returned good values. The true thickness and grade of the
blanket or manto style mineralization is not certain due to limited exposure.
Golden Goliath is very pleased with its option agre ement with El Aguila and is
encouraged that the first of the optioned propertie s to be drilled by them is adjacent to
San Timoteo.
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 Qualified Person for the information regarding
Uruachic project is J. Paul Sorbara M.Sc., P.Geo. The Company is focused on exploring
and developing the gold and silver potential of an historic mining camp located in the
world famous Sierra Madre Occidental Mountains of n orthwestern Mexico. Golden
Goliath’s San Timoteo property claims are owned 100 % by the Company and are fully
paid for with no property option or purchase payments to make.
To find out more about Golden Goliath visit our website at www.goldengoliath.com .
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.