New Access Road to East and Central Grids Completed For Golden Goliath on Kwai Property, Red
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TSX.V:GNG
www.goldengoliath.com
New Access Road to East and Central Grids
Completed For Golden Goliath on Kwai Property, Red
Lake, Ontario
Vancouver, December 15, 2020, Golden Goliath Resources Ltd. (TSX.V GNG ) (US:
GGTH-F) (Frankfurt: GGZ)
Golden Goliath is pleased to announce that the new road that will allow
proper access to the East and Central Grid areas of it’s the Kwai property
has now been completed. This was accomplished in partnership with the
local forest management company taking advantage of their expertise and
access requirements. The new access road turns off the main Dixie Lake
Road and leads to the central part of the Kwai property, crossing several
small streams and one larger stream that f lows out of the east end of
Beauregard Lake (see Figure 2). From its terminus drill trails will lead to the
planned drill targets on the East Grid as well as those to the south of
Beauregard Lake. The road will also facilitate access to the area northeast
of the West Grid where a NW-SE splay fault occurs that crosses the main
Pakwash Break. Drilling is also planned in that area.
The cost to the Company for this road was $65,000 and this expense has
already been included in the drill budget to date . Therefore, future drilling
will cost less in total per meter.
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Figure 1: Red Lake District Properties including the Kwai and SLF properties of Golden Goliath
The new road access will open up connections to over 17 drill sites on the
eastern and central grids where both rusty tills have been found with
numerous gold grains, as well as some of the strongest IP anomalies on
the property in the line 49- 51E area. H ence the section from lines 2800E
for another 3-4 km eastward can now be reached, in addition to many parts
of Beauregard Lake.
The Company intends to start the IP survey over Beauregard Lake early in
the New Year and drilling will resume shortly after that when the drill
company crews and equipment are ready.
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Figure 2: Compilation Showing New Access Road plotted on map of Possible Source
Area For Gold Grains, IP Trends and Major Structures
CEO Paul Sorbara comments: “This is a good example of a win- win deal.
The forestry company had the permits because this area is covered in their
10 year forest harvesting plan and they will eventually need the access.
They also have the know -how and local knowledge, because they do this
all the time. They do not need the road yet but agreed to build it now if we
shared the cost with them. Cooperation for mutual benefit.
The Company looks forward to the resumption of drilling in the New Year.”
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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 NI 43- 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 results, 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, including 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 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 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 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.