Golden Goliath Drilling Follows New Mineralized Structures Eastward Along Pakwash Trend, Kwai Project, Red Lake District of Ontario
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TSX.V:GNG
www.goldengoliath.com
GOLDEN GOLIATH DRILLING FOLLOWS NEW MINERALIZED
STRUCTURES EASTWARD ALONG PAKWASH TREND, KWAI
PROJECT, RED LAKE DISTRICT OF ONTARIO
Vancouver, November 4, 2020, Golden Goliath Resources Ltd. (TSX.V GNG ) (US: GGTH-F) (Frankfurt: GGZ)
‐ Hole K20-08 hits two mineralized quartz stockwork zones 59 and 73m core length
Golden Goliath Resources Ltd. continues to discover new zones of mineralization along
the Pakwash Fault as exploration continues fo llowing this structural trend to the east.
These new extensive quartz stockwork zones we re not seen in earlier work to the west.
Hole K20-08, which was drilled to the south, was completed to 207m from a point 200m
east of hole K20-04 and it was discovered that the basalt zone host found along the
north side of the Pakwash fault has widened. The porphyry has started to thin going
eastward and becomes more silicified. A majo r fault occurs at 111-114m in K20-08 with
contorted, altered mafic volcanics with talc, chlorite and sericite alteration and separates
two quartz veining zones from 51 to 110m and 114-187m. This lower section contains
wide zones of brecciated quartz besides ve ining (see photos on company web site).
The veins have pyrite along the walls and also within the veins as well as minor
chalcopyrite and tourmaline. Basalt and the porphyry are the host rocks for these new
vein stockworks. It was decided as a result of this discovery that two more holes will be
drilled to test the Basalt horizon and faul t further to the east under Beauregard Lake,
and also to test a possible junction of an extens ional fault that crosses or is a splay off
the Pakwash Fault (see Figure 2). The firs t of these two holes (K20-09) is now
underway from a drill pad located 80m east of K20-08 near the shore of Beauregard
Lake (Figures 2 and 3). K20-09 has found a wider body of porphyry further to the east of
hole K20-08 where it was narrowing, as well as altered basalt, and is presently cutting a
major shear zone associated with the Pakwash F ault containing pyrite and sericite as
seen in earlier holes 03, 06 & 07 to the west.
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Figure 1: Red Lake District Properties including the Kwai and SLF properties of Golden Goliath
When these two holes are completed the drill will be moved to t he south side of the
West Grid to test a series of IP anomaly trends with associated pristine gold grains and
a south fault that is parallel to the Pakwas h trend. (see Figure 3 m ap of planned holes).
This south fault can be s een on both the ground resistivit y data and the airborne VLF
survey. Those proposed holes should be completed on the West Grid before Christmas
break. After the Christmas Break access routes to the East Grid will be ready to start
another phase of the drill program east of Beauregard Lake.
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Figure 2: Magnetic total field first derivative with interpreted fault structures
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Figure 3: West Grid Completed and proposed Drill Holes
CEO Paul Sorbara Comments: “We have a lways known that splays or intersecting
faults along the main Pakwash Fault were good locations. There is also one in the
center of the East Grid. That is how we originally decided where to place the first two
grids in 2019. The West Grid had to be cu t west of the splay we are now nearing with
hole K20-09 because the actual location was in the lake.”
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 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
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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
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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 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.
To find out more about Golden Goliath visit our website at www.goldengoliath.com.