Golden Goliath Channel Samples 4.28 g/t Gold over 3 Meters and Initiates Phase 2 Work on the Wish Ore Property
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Golden Goliath Channel Samples 4.28 g/t Gold over 3 Meters and
Initiates Phase 2 Work on the Wish Ore Property
Vancouver, August 22, 2019
Golden Goliath Resources Ltd. (TSX.V GNG ) (US: GGTH-F)
Golden Goliath is pleased to announce the initiation of Phase 2 work on the
Wish Ore property near Sault Ste Marie, Ontario.
Phase 1 Work
Phase 1, completed in June, was designed to examine, manually strip and
channel sample known gold showings on the property and was successful
in identifying significant gold mineralization.
Values of 4.28 g/t gold over 3 meters including 9.05 g/t gold ove r 1.0
meter were identified from channel sampling on the New Zone. Now,
Phase 2 mechanical stripping has revealed that the initial sampling did not
include the entire zone of mineralization and subsequent sampling, which
has already been completed, may reveal a wider mineralized zone than
first anticipated. The Company awaits the assays. The gold mineralization
was found to be associated with volcanic rocks with quartz veining and
carbonate alteration. Low concentrations of sulphides and chalcopyrite
mineralization were also noted.
Phase 2 Work
Phase 2 work in progress includes:
1) Mechanical stripping, washing and channel sampling of known gold
showings on the property
2) Prospecting to locate historical showings and undiscovered showings on
the property
3) Geophysical surveying ( IP, MAG and VLF-EM) over known showings to
define their extent and identify the geophysical signature of the showings.
Mechanical stripping of the Loydex Zone ( See Fig. 1) and the New Zone
was done with a small backhoe and channel samples were subsequently
taken. The samples are beinjg submitted to the lab for analysis. In
addition, the other trenches done by Loydex in 1987 were located.
Loydex concluded that “two and possibly three zones of gold mineralization
have been trenched” on the property. “Wide zones of carbonate alteration
are associated with some of the pits as well as wide sections of gold
bearing quartz veins in association with bl ue quartz eyed volcanics make
the area attractive for further work.”
Figure 1: Channel Sampling Loydex Zone
Property prospecting has revealed large, angular, pyrrhotite and quartz
mineralized boulders on a new logging road. The boulders are associate d
with a major northeast -southwest trending linear feature on the property
and a coincident resistivity low from an airborne survey done by Lacana in
1988. Samples were collected and will be analyzed to determine if there
are any metals of interest associated with the mineralized boulders. This
represents a new, previously unexplored target on the property and will be
followed up during Phase 3 exploration planned for September.
Figure 2: Large, angular, mineralized boulders found by prospecting.
Phase 3 Work
Phase 3 work planned to start in September will include additional
mechanical stripping and channel sampling where warranted by the
analytical results of Phase 2. Additional showings found during Phase 2
work will be further prospected and sampled.
Company CEO Paul Sorbara says, “My recent trip to all three of our
Ontario properties was very successful. I am very encouraged with what I
have seen on our Wishore property. The excavator kept turning up good
looking, mineralized outcrop. I anticipate the results of the geophysical
surveys which are now in progress. We got two for two with the IP
anomalies on the Kwai and SLF properties in the Red Lake area and the
MAG and VLF results from them are still in process. I believe those results
will further enhance the drill targets. Now we have three for three with the
Wishore sampling and trenching and the geophysics isnʻt even done yet.
Things are looking good.”
About Golden Goliath
Golden Goliath Resources Ltd. is a junior exploration company listed on the TSX
Venture Exchange (symbol GNG). The Qualified Person (“QP”)for the information
regarding Ontario properties is J. Paul Sorbara M.Sc., P.Geo. The QP has approved the
scientific and technical disclosure in the news release.
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, 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 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.