Golden Goliath Ground Truths IP Anomalies, gets MAG &VLF Results. Drill Targets defined by Independent Consultant
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Golden Goliath Ground Truths IP Anomalies, gets MAG &VLF
Results. Drill Targets defined by Independent Consultant
Vancouver, August 22, 2019
Golden Goliath Resources Ltd. (TSX.V GNG ) (US: GGTH-F)
Golden Goliath is pleased to announce that it has now completed the
ground examination of the Induced Polarization geophysical anomalies on
its Kwai and SLF properties located in the Red Lake District of Ontario,
south of the Great Bear resources Dixie Lake discovery. The Company has
also received the results of the Magnetic (Mag) and Very Low Frequency
(VLF) EM surveys which were conducted in association with the IP survey.
Part of the Companyʻs exploration team, including CEO Paul Sorbara,
recently went to the Red Lake properties and visited the locations of the
very encouraging IP anomalies that were reported on August 12 th. The
purpose was to determine if anything visible on the surface of this mostly
overburden covered region could explain why we got the anomalies, or if
the source lies at depth.
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 high chargeability anomalies associated with the trace of the Pakwash
Lake fault remain unexplained as the anomalies occur south of the break in
slope believed to represent the trace of the fault structure. No outcrop was
observed that could explain the anomalies. Further north, high to moderate
chargeability anomalies with coincident high resistivity anomalies occur
associated with variably altered granitic outcrop. On the east grid local
intense epidote alteration was observed with traces of pyrite and
chalcopyrite.
The MAG and VLF 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.
The ground magnetics survey on the east grid confirmed the the location of
the magnetic break along the trace of the Pakwash Lake fault structure,
that Golden Goliath is targeting. In addition, the VLF survey gave a strong
anomaly that is coincident with the IP anomaly also believed to be
associated with the Pakwash Lake Fault structure."
Nothing seen on the ground can explain the IP or Mag and VLF anomalies
meaning their source is at depth and must be determined through drilling.
A well know, independent Geophysical Engineer, Robert Middelton,
BSC.,MSC., Peng., who discovered the Bell Creek Mine in Timmins in
1979, was retained by the Company to examine the geophysical data and
give his own interpretation and recommendations. Middletonʻs report stated:
“The Induced polarization survey of the Kwai Property in Red Lake has traced
two major shear Zones across the length of the grid for a 1.6 km distance and
drill holes at selected intervals will determine the presence of gold
mineralization. Shears are the main controlling structures for gold in the Red
Lake Camp both at the Goldcorp Red Lake Mine (former Arthur White Mine)
and on new discoveries such as the Great Bear Dixie Lake project
immediately north to the Golden Goliath Kwai property.”
“In some cases the low resistivity units are associated wi th negative
chargeability suggesting conductors which would be sheared argillitic
sediments with some graphite, however since those sediments are sheared
the contact with the basalts can also be sheared creating an excellent host for
gold mineralization (carbonate-sericite zones).”
“The high Chargeability zones are caused either by disseminated sulphides
which could be surrounding gold mineralization or be caused by pyrite in
graphitic zones adjacent to carbonate alteration zones. Proper cross section
drill holes are presented here to be certain the whole structure is tested to hit
all aspects of the “Contact “ area and hit both the Carbonate zones as well as
the volcanics and any sediments. Such a setting occurs on the Dixie Lake
Property now held by Great Bear Resources north of the Golden Goliath
claims where a sharp contact of basalt and sheared sericite schists demarks a
gold bearing zone (See Great Bear Resources web site for maps).”
“You are in Virgin territory! And you can have a whole new type of d iscovery
here. The gold bearing fluids are in the area and just need the right structure
to channel them.”
Mr. Middleton has selected 10 possible drill hole sites on the Kwai property
based on his review of the Induced Polarization pseudo sections. Some of
the proposed holes are shown plotted on pseudo sections below:
IP pseudo section from the Kwai property West Grid showing three of the proposed drill hole
IP pseudo section from the Kwai property East Grid showing two of the proposed drill holes
Company CEO Sorbara says, “I could not be happier with the results of the
geophysical surveys here in the Red Lake area and with Bob Middletonʻs
interpretation and enthusiasm. He is very respected in the industry. We
have ten good drill targets on Kwai and another on SLF. They are all in
areas of overburden cover, which means that no one in history has seen
those rocks before “virgin territory” as Bob Middleton said, not to mention
“The gold bearing fluids are in the area and just need the right structure to
channel them.” For me, that is very exciting and I look forward to the
drilling to come. You can be sure I will be there when that core comes out
of the ground.”
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 th e 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.