Vancouver, May 14 2019; Golden Goliath Resources Ltd. (TSX.V GNG ) (US: GGTH-F)
The Company is pleased to announce that it has now received TSX approval for its acquisition of the Wish Ore property in the Sault Ste. Marie mining district. The company, which is already financed, plans to aggressively explore this property as well as its two properties in the Red Lake District properties The exploration permitting is already underway and a 43-101 compliant Technical Report on the Wish Ore property has already been started.
The terms for a 100% interest in the Wish Ore property are as follows:
On signing $25,000.00 + 200,000 shares (upon TSX approval)
Minimum $75,000 work commitment during year 1
After 1 year $25,000.00 + 200,000 shares
After 2 years $25,000 + 100,000 shares
Less a 1.5 % NSR with a buy back clause for ½ of the NSR for $500,000.00.
Golden Goliath CEO Paul Sorbara PGeo said; “I like the property very much and our whole team does too.”
On the Wish Ore property, limited prospecting by the property vendor (Mike Tremblay) has identified several new gold mineralized structures that have not been identified by past work on the property and have received little or no previous exploration (See Golden Goliath press release dated May 1, 2019) . As a bonus, the Wish Ore property has excellent infrastructure as is located within an hour’s drive from Sault Ste Marie, a full service community located on the Canada-US border. “
The prospector/vendor, Mike Tremblay, also discovered the Borden Lake deposit, which is located about 120 km northeast of Golden Goliaths Wish Ore property. Goldcorp has started mine development at Borden Lake and is expected to have a mine life of seven years with ccommercial production to start this year. Tremblay was a recipient of the 2013 Ontario Prospectors Association discovery of the year award at the Ontario Geoscience Symposium in Sudbury for the Borden Lake discovery and will continue to consult on the exploration of the property.”
Through its wholly owned and funded Mexican Subsidiary, Minera Delta S.A. de C.V., the Company will continue to own 100% of its San Timoteo property in Chihuahua and the net smelter royalties from the 7 recently optioned properties, as well as the La Cruz property, which lies in another area of the State.
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 the San Timoteo property, located in the Sierra Madre Occidental Mountains of northwestern Mexico, as well as NSR royalties on several others 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: firstname.lastname@example.org
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.