Kwai Property
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The Kwai property straddles the Pakwash Lake fault, and is underlain by English River metasediments to the south and Uchi subprovince (Red Lake belt) mafic volcanics and a granitoid intrusive to the north. The property lies about 8 kilometres south of the Former Great Bear Resources property which has now been bought out by Kinross. High grade gold mineralization was discovered by Great Bear Resources in the Uchic rocks associated with the deep seated LP fault and adjacent lithologies. The LP Fault is interpreted as a major gold mineralization control and hydrothermal fluid conduit during Archean age gold mineralization.
Regional deep seismic work conducted by the Ontarion government show that the LP fault is connected to Golden Goliathʻs Pakwash fault at a depth of 18 kilometers.
Golden Goliath conducted basal till sampling along the southern portion of the Kwai property and found numerous gold grains, including pristine gold grains in the vicinity of the Pakwash fault. A clay layer in the overburden from glacial lake Agassiz prevented reaching the basal till layer in several areas.
Follow extensive IP surveying Golden Goliath Completed a series of diamond drill holes along and just south of the Pakwash faultwhere blocls of Uchi rocks were interpreted to be within the fault zone. Results showed some very interesting lithologies and alteration but gold values were low.
After Great Bear was taken over by Kinross the area became quiet waiting for a Kinross resource estimate and PEA. This was coupled by a lawsuit launched by the Grassy Narrows indigenous community against the Ontario government for issuing exploration permits to several companies whose claims fell within what they claim as their traditional territory without consultation and approval. A few claim units in the southwest corner of the KWAI property fall within that newly claimed traditional territory. Golden Goliath consulted with and received approval from the bands that the Ontario government instructed us to contact, but Grassy Narrows was not on that list. Consquently no new permits were being issued until the lawsuit as dealt with. All of the companies involved voluntarily gave up their permits making the law suit moot.
Golden Goliath now plans to drop the few claim units in the disputed area and apply for new permits so that we may continue exploring on the north side of the Pakwash fault. This would start with a deeper reaching overburden tool to allow more basil till sampling for gold grains followed by more drilling.
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March 2019