Golden Goliath: Till Samples from Kwai Property Yield Pristine Gold Grains
- 17 till sample sites yield pristine gold grains
- All 24 till samples contain gold one to 42 gold grains
- 13 sites contained over 5 grains, and 8 sites contained over 10 grains
Vancouver, July 7, 2020 - Golden Goliath Resources Ltd. (TSXV: GNG ) (OTC: GGTHF) (FSE: GGZ) ("Golden Goliath" or the "Company") is very pleased to announce that recently completed till sampling program on its Kwai property in the Red Lake Mining District sucessfully located pristine gold grains in multiple locations. In 40 attempts to dig till or soil samples along the 10 km length of the Kwai property covering multiple faults associated with the Pakwash Fault, 24 till basal samples were recovered and sent to Overburden Drilling Management in Nepean (Ottawa), Ontario. The results were received late Monday July 6th and are summarized here. All 24 samples of till yielded gold grains and 17 till samples contained Pristine gold grains which are indicators of near-by gold mineralization. Soil sampling assays have also been received which found scattered indicator pathfinder elements in the fine soil fraction of As, Sb, Cu, Bi, Pb, Mo, V, and W, (Arsenic, antimony, copper, Bismuth, lead, molybdenum, vanadium, and Tungsten).
Figure 1: Red Lake Property Map
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The largest concentration of gold grains appears to correspond to IP anomalies previously located in 2019 on the west grid but numerous till sites on the eastern IP grid also correlate with the IP anomalies along the major faults that occur in the siliceous tuffs and sediments flanking a basalt marker.
IP surveying is continuing at Kwai despite rain and thunderstorm interruptions and is extending these known IP anomalies. Once the IP survey is complete, by mid July, drill hole plans can be finalized based on these till results and chargeability anomalies occurring up ice from the gold anomalies.
Figure 2: KWAI Property with 2019-2020 IP Grids and Basil Till Samples
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Golden Goliath CEO, Paul Sorbara, comments: "I am really pleased! It had been stated that Golden Goliath has very good geology, structure and targets but next needs the till sampling results as proof that there is gold in the area. Evidence that the Pakwash Fault may be pregnant. Well, we now have that evidence. It will be exciting to see what the 2020 IP survey shows and how it correlates with the till geochemistry. We also have much better understanding of the geology and we are very happy about our situation, as we prepare for the drill phase. Ground truthing of the newly identified IP anomalies will occur before final drill site selection."
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
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.
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, 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: jps@goldengoliath.com
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.
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