Golden Goliath Defines Drill Targets On Red Lake Properties
TSX.V:GNG
www.goldengoliath.com
Golden Goliath Defines Drill Targets On Red Lake Properties
Vancouver, August 12, 2019
Golden Goliath Resources Ltd. (TSX.V GNG ) (US: GGTH-F)
Golden Goliath is pleased to announce that the Induced Polarization (IP),
ground Magnetic (MAG) and VLF-EM geophysical surveys have now been
completed on its Kwai and SLF properties. The properties are located
south of the Great Bear Resources gold discovery in the Red/Dixie Lake
area of Ontario.
Results show chargeability anomalies at Kwai on both the east and west
grids associated with the trace of the deep-seated Pakwash Lake fault
structure and breaks in magnetics associated with that fault structure.
Recent press releases by Great Bear Resources have indicated drill
intersections of 5.87 g/t gold over 12.1 meters including 14.32 g/t gold over
4.6 meters. (Great Bear Press Release dated July 24, 2019). The gold
mineralization is thought to be structurally controlled and associated with a
major fault zone in the area.
The Kwai and SLF properties of Golden Goliath were acquired to cover
major fault strucures similar to that hosting the gold mineralization on the
Great Bear Property.
Fig 1: Map showing relative positions of the Kwai, SLF and Great Bear
Property and the Red Lake Camp
The Golden Goliath geophysical surveys were designed to:
1) Determine the exact location of the fault structures that are largely
overburden covered and not exposed on surface.
2) Determine if there is possible mineralization associated with the fault
structures
Two separate grids were cut on the Kwai property, each covering the
favourable fault structures where cross cutting structures appear to be
present. Multiple moderate to strong chargeability anomalies were
detected by the Induced Polarization survey from which high priority drill
targets will be generated.. The magnetometer and VLF-EM survey results
are pending. Those surveys were designed to confirm the magnetic breaks
and trace the deep-seated fault structures and to match them with the
chargeability anomalies identified through the IP surveys.
Fig. 2: Example of Induced Polarization Pseudo Section on Kwai Property
Although the results of the detailed ground magnetic and VLF surveys are
not yet available, older airborne magnetic data show breaks in the
magnetic trends that cross cut the regional structures. The new Golden
Goliath grids were established to cover those areas.
Seismic surveys completed in 2003 by the Geological Survey of Canada
(Lithoprobe Project) in the area have mapped the major fault structures in
the Red/Dixie Lake Area. ( Reference: Imaging the upper part of the Red
Lake greenstone belt, northwest Ontario, with 3-D traveltime tomography
Fafu Zeng and Andrew J. Calvert )
Fig 3: Seismic profile through Dixie Lake/Red Lake Area Showing Major
Fault Structures
The Lithoprobe survey shows that the subsurface structural geology and
faulting pattern is very complex. The survey indicates that the Pakwash and
SLF faults may be related to the LP fault of Great Bear where they are
presently finding significant gold mineralization associated with the fault
structure.
Company CEO Paul Sorbara says, “I am very pleased with the results to
date on both the Kwai and SLF properties. These are our first drill targets.
There is very little outcrop on the properties and these are brand new
targets that have never been tested. I look forward to the drilling stage to
come. We are two for two with Kwai and SLF.” Sorbara is currently on the
Companysʻ Wish Ore property, north of Sault Ste Marie and will be
travelling in the coming days with part of the exploration team to the Red
Lake area to see the geophysical targets on Kwai and SLF.
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 t he 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.