Airborne Survey Identifies Multiple, Additional Target Structures
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
AIRBORNE SURVEY IDENTIFIES MULTIPLE, ADDITIONAL TARGET
STRUCTURES ON KWAI PROJECT RED LAKE, ONTARIO
Vancouver, March 30, 2020, Golden Goliath Resources Ltd. (TSX.V GNG ) (US:
GGTH-F) (Frankfurt: GGZ)
277 line km. airborne survey completed on the Golden Goliath, Kwai
property located 15 km south of the Great Bear Resources, Dixie Property
near Red Lake Ontario
Preliminary evaluation of the survey has identified multiple structures on
the property worthy of ground follow-up.
Plans are to expand the test Induced Polarization surveys on the property
and use till sampling to identify those structures with a greater gold
potential in order to finalize drill targets.
Golden Goliath Resources (the Company) is pleased to announce
that the airborne VLF-EM and Magnetic survey on its Kwai
property, located 15 km south of the Dixie Lake Pro ject of Great
Bear Resources in the Red Lake mining district of O ntario. The
Company has an option to earn a 100% interest in th e Kwai
property. The airborne Geophysics contractor has co mpleted a
277 Line Kilometer airborne survey over the Kwai pr operty, which
covers 4450 Ha (44.5 sq. km.) and hosts parallel st ructures
similar to those found to the north in the Dixie La ke Area. The
Kwai property covers 10 kilometers of a major break called the
Pakwash Fault, which is part of a network of deep-seated faults in
the Red Lake Camp that are correlated with the trends hosting the
major gold deposits. These faults have been identif ied by a
government seismic program carried out in the Red L ake Area as
part of the government funded Lithoprobe 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]
Figure 1 Red Lake District Properties including th e Kwai and SLF properties of Golden
Goliath
A preliminary evaluation of the airborne survey dat a by R. S.
Middleton P.Eng, has identified multiple shear zone s, parallel to
and associated with, the Pakwash Fault. Total Field Magnetics,
Vertical Derivatives and three directional VLF-EM s urveys were
utilized to identify the potential gold bearing str uctures. Final
products of the survey and evaluation will be compl eted by the
geophysical contractor in 4 to 6 weeks.
In 2019 the Company completed 15.8 km of Induced Po larization
surveying on the Kwai property, which identified mu ltiple drill
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]
targets consisting of silicified zones with high re sistivity and shear
zones with chargeability anomalies, all contained w ithin these
new structures identified by the airborne survey. T his correlation
combined with Middletonʻs interpretation indicates that the
airborne geophysical data warrants about 55 additio nal line
kilometers of ground IP to identify additional dril l targets. The
additional IP, combined with a possible till sampli ng program,
would identify which areas hold the best gold poten tial in
preparation for a diamond drilling program.
Figure 2 Preliminary Kwai airborne mag data showing 2019 Induced Polarization grids
Paul Sorbara (CEO Golden Goliath Resources) states that, “We
are very pleased with the results of the airborne s urvey. It
produced even more targets than we expected and has both
identified and confirmed additional zones of intere st on the Kwai
property. The survey has identified several parall el and cross
cutting structures that we once thought were a sing le fault. We
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]
plan to expand Induced Polarization surveys on the property to be
able to pinpoint the best diamond drill targets”.
The Kwai property is held under a purchase option a greement
which allows Golden Goliath to earn a 100% interest subject to an
NSR (see NR December, 10, 2018).
This news release has been reviewed and approved by the
company QP Wayne Holmstead, P.Geo.
On Behalf of the Board of Directors
Paul Sorbara, MSc.PGeo
CEO, Golden Goliath Resources
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 acquis itions 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”, “estima te”, “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 ass umptions and analyses made by
management in light of their experiences and their perception of historical trends, current
conditions and expected future developments, as wel l as other factors they believe are
appropriate in the circumstances. These statements are subject to risks, uncertainties and
assumptions, including those mentioned in the Compa ny’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 Compan y 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 u pon 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 accurate. All forward-l ooking statements are expressly qualified in
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]
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.
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 exploring a nd 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 Occid ental Mountains of northwestern Mexico, as well as
NSR royalties on several other nearby properties, and 100% of the La Cruz property, also in Chihuahua.
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 Ser vices Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.