Golden Goliathʻs Induced Polarization Geophysical Survey on the Wish Ore Property Yields Multiple Drill targets.
Vancouver, September 4, 2019
Golden Goliath Resources Ltd. (TSX.V GNG ) (US: GGTH-F)
Golden Goliath is pleased to announce that the results of Induced Polarization survey on its Wish Ore property have identified several drill targets. The independent consultant, R.S. Middleton B.Sc., M.Sc., P.Eng., retained by the Company has reviewed the data and has identified nine drill targets. Mr. Middleton states:
“The mineralization on this property and area is typically shear zones with quartz-ankerite alteration and low to moderate sulphide content and the resistivity readings are very important for tracing mineralization. Shear zones have been identified by the survey that are following known mineralization.”
Figure 1: Wish Ore Property Map with IP grids and showings
Previous work by the Company on Wish Ore, conducted earlier this summer identified a new zone of mineralization with values of 4.28 g/t gold over 3 meters including 9.05 g/t gold over 1.0 meter obtained from channel samples cut on exposed outcrop August 22 GNG Press Release. Phase 2 mechanical stripping then revealed that the initial sampling did not include the entire zone of mineralization and subsequent sampling, which has already been completed, may reveal a wider mineralized zone than first anticipated. The Company awaits the assays. The gold mineralization was found to be associated with volcanic rocks with quartz veining and carbonate alteration. Low concentrations of sulphides and chalcopyrite mineralization were also noted.
Figure 2: New Zone and Subsequent 23m Channel Sampling Program, August 2019 (Assays Pending)
Subsequent prospecting on the property has also revealed large, angular, pyrrhotite and quartz mineralized boulders on a new logging road. The boulders are associated with a major northeast-southwest trending linear feature (Carp River Fault) on the property and a coincident resistivity low from an airborne survey done by Lacana in 1988. Samples were collected and are being analyzed to determine if there are any metals of interest associated with the mineralized boulders. This represents a new, previously unexplored target on the property and will be followed up during Phase 3 exploration planned for September.
Figure 3: Large, angular, mineralized boulders found by prospecting.
In addition, the historical trenches by Loydex Resources Inc. were located by prospecting. Historical gold values of up to 0.294 oz/ton (10.1 g/t) in grab samples have been reported here in quartz-carbonate, mineralized outcrops. One of the areas reported by Loydex was recently mechanically stripped by the Company and 18.7 meters of channel sampling was done. Analyses are pending.
Figures 4&5: 18.7m Channel sampling and Quartz-Carbonate Alteration on Lloydex Zone (Assays Pending)
Company CEO Paul Sorbara says, “We already have multiple drill targets on the Wish Ore property and there is still a lot of potential to be evaluated. One of the Induced Polarization targets covers an area with Iron Formation and needs to be prospected, sampled and possibly stripped in that area. The trend of the nearby Carp River Fault needs to be thoroughly examined. Between the exciting results on our Kwai and SLF properties in the Red Lake area August 27 GNG Press Release and now Wish Ore near Sault Ste Marie, there will be a lot of drilling in our future.”
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 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
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.