Golden Goliath Commences Diamond Drilling on its Kwai Property, Red Lake Mining District
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TSX.V:GNG
www.goldengoliath.com
Golden Goliath Commences Diamond Drilling on
its Kwai Property, Red Lake Mining District
Vancouver, September 15, 2020, Golden Goliath Resources Ltd. (TSX.V GNG )
(US: GGTH-F) (Frankfurt: GGZ)
Golden Goliath Reso urces Ltd. (“Golden Goliath” or the “Company”) is
very pleased to announce that the diamond drilling program on its Kwai
property in the Red Lake mining district is underway. The program is
designed to test the P akwash Break along 10 kilometers of strike length
with approximately 40 holes totaling 6,000 meters. Although the main
focus of the drilling is aimed at the Pakwash Fault and associated
deformation zones, a number of other splay faults and parallel IP trends
will be tested. Drilling has started in the West Grid area (West of Lake
Beauregard, see Fig 2) with hole K 20 -01 being collared at line 800W at
stn 800N. The initial hole (K 20-01) has discovered a large quartz eye
porphyry body, with robins egg blue quar trz eyes, within the Pakwash
main break. Shear zones within this porphyry control numerous quartz
veins with fine grained pyrite along the walls of the veins. In addition, fine
grained pyrite occurs in the porphyry mat rix. Tourmaline is also present.
This type of intrusion is often associated with gold deposits in the area and
in other gold camps.
The Kwai property has never been mapped or drilled in the past and the
favourable geological environment that the company has been looking for
is starting to be uncovered and exposed for the first time.
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Results for the three till samples collected in late August are still pending.
Those samples were taken south of Beauregard Lake and one of the
samples was rusty in nature, possibly indicating a nearby sulphide source
and was 50m from an IP trend which will be tested in this round of drilling.
Drilling itself is expected to take about 70 to 80 working days, with two
shifts per day. Lab turn around time for analyses is uncertain at this point.
Figure 2 shows the property grid with IP anomalies and pristine gold grain
locations.
Figure 1: Red Lake District Properties including the Kwai and SLF properties of Golden Goliath
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Figure 2: IP anomalies and trend interpretation with locations of pristine gold
grains on Golden Goliath's Kwai property
Golden Goliath CEO Paul Sorbara comments: “Wel l, drill hole #1 has our
team excited, even without assays. Most will not know the significance of
the quartz eye porphyry, but it is very excitin g for us. GBR and BTU both
have this unit, but we had not seen it on surface at Kwai so far, and we
have been looking for it for some time. Now we have it in hole #1 and it is
sheared and has sulphide mineralization and tourmaline! I believe we are
off to a very good start.”
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This news release has been reviewed by Robert S. Middleton P.Eng who
is acting as QP for this phase of the exploration under the NI43- 101
requirements.
On behalf of the Board of Directors
Paul Sorbara, MSc, PGeo
CEO, Golden Goliath Resources Ltd.
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 resul ts, 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, i ncluding 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 c ould 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 accurate. 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.
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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]
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.
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 potent ial 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.