Golden Goliath Drilling Discovers Mineralization IN New Setting ON Southern Anomaly Trend ON Kwai Project, Red Lake, Ontari O
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TSX.V:GNG
www.goldengoliath.com
GOLDEN GOLIATH DRILLING DISCOVERS MINERALIZATION IN NEW
SETTING ON SOUTHERN ANOMALY TREND ON KWAI PROJECT,
RED LAKE, ONTARI O
- Large section of Uchi volcanics incorporated into English River Sub Province Package
- Altered porphyry and basalt with disseminated pyrit e zones and quartz intersected
Vancouver, November 19, 2020, Golden Goliath Resources Ltd. (TSX.V GNG ) (US: GGTH-F) (Frankfurt: GGZ)
The focus of the ongoing drill program on the west grid has moved from the northern
trend of IP anomalies along the interpreted trend o f the Pakwash Fault to the southern
trend of IP anomalies and shear zones as announced in the November 10, 2020 news
release. Two holes K20-11 and K20-12 on line 200E h ave discovered a wide section of
Uchi type basalts and porphyry within the English R iver Sub Province suite of rocks,
which is a new phenomenon not known previously. Ho le K20-12 (see figure 2) was
drilled to 180m at -50 degrees north to test IP ano malies south of Hole K20-11. It
intersected basalts and porphyry the whole length of the hole but was intruded by many
pegmatite dikes and some granite, leaving over 75% of the hole in Uchi rocks. Hole
K20-12 came below the collar of hole K20-11 which h ad Uchi basalts and porphyry in
the upper part of that hole. Wide spread disseminat ed pyrite in these Uchi rocks
explained some of the IP anomalies . Hole K20-11 had a 13m section of disseminated
sulphides, whereas hole K20-12 had a 14m section wh ich correlated to the IP
anomalies on line 200E and also had wide spread disseminated sulphides in the
remaining Uchi type rocks. Some pegmatites also con tained disseminated pyrite which
might have been picked up as they passed through Uc hi rocks. The porphyry has been
metamorphosed ,however, the “robins egg blue” quart z was preserved. (see photos on
Company website)
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A 40m section of sheared porphyry was encountered in the lower part of hole K20-11 as
this hole passed into tuffaceous rocks seen in hole 06. Small segments of porphyry then
re-appeared as the hole was being completed. There appears to be a metamorphic
front defining the English River boundary with Uchi rocks where biotite is the dominant
mica in English River and sericite mica is the hallmark of the Uchi rocks.
Figure 1: Red Lake District Properties including the Kwai and SLF properties of Golden Goliath
This discovery opens up a large area of the property to further gold exploration in areas
considered to be all English River rocks. Numerous anomalies occur on the eastern part
of this 10 km long Kwai property that would fall in to this category. Drilling is continuing
on the south side of the West Grid.
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Figure 2: West Grid Completed and proposed Drill Holes
This news release has been reviewed by Robert S. Mi ddleton P.Eng who is acting as
QP for this phase of the exploration under the NI 43-101 requirements.
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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 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
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.
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 poli cies of the
TSX Venture Exchange) accepts responsibility for the adequacy.
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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 ex ploring and developing the gold and
silver potential of properties in the Red Lake Dist rict 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 .