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GOT Goliath Resources Limited

0.98
0.00 (0.00%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Goliath Resources Limited TSXV:GOT TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.98 0.97 1.00 1.00 0.97 1.00 58,982 20:59:58

Golden Touch Resources Corp.: High Priority Drill Targets Identified by Geophysical Surveys at the Rubik Gold Project (PEL 11...

01/02/2012 2:17pm

Marketwired Canada


Golden Touch Resources Corp. ("Golden Touch" or the "Company") (TSX
VENTURE:GOT)(FRANKFURT:0GT) is pleased to announce that a significant number of
high priority drill targets have been identified by induced polarisation
geophysical surveys at the Rubik Gold Project (PEL 1124). It is interpreted that
high resistivity responses are related to silicified shear zones and shallow
intrusves and that high chargeability is related to sulphide mineralization in
both shear zones and shallow intrusives.


Drilling in PEL 1124 during 2011 was centred on the Gjazuj Prospect area, an
area of stream sediment gold anomalism where the Albanian Government had
previously undertaken drilling and small scale mining. The results of GOT's
drilling were very encouraging with nine (9) steeply dipping, gold bearing,
greenstone hosted, shear zones (averaging 4.0 metres at 2.7 g/t gold) being
intersected. Given there are a further five (5) known stream sediment gold
anomalous areas with the PEL 1124 tenement, assessment of these was afforded a
high priority. Induced polaraisation (IP) surveying involving resistivity and
chargeability measurements was considered to offer the best method of rapid
assessment.


IP lines, each orientated N-S, 1 kilometre in length and spaced at 200 metres,
were established to cover four (4) of the remaining stream sediment gold
anomalies to the east of the drilled area. The program included, IP
chargeability and resistivity supplemented by a program of ground magnetic
surveying, geological mapping and surface sampling along the survey grid lines.
Surveying was undertaken over a total of 26 lines using the poly-pole method as
this technique has deeper and stronger signal input. The magnetic traversing was
undertaken at 10m intervals. Implementation of the survey was contracted to
Turkish company, CFT Engineering Ltd. Co.


The IP survey revealed the presence of very large intrusion-like anomalous
bodies with very high IP chargeability responses. It is interpreted that these
anomalies are associated with silicified shear zones adjacent to possible major
igneous intrusive bodies. Numerous high resistivity and IP chargeability
anomalies offer high priority targets for drill testing as the anomalies may
reflect areas of locally more abundant quartz and sulphide mineralisation. 


To view the maps accompanying this press release please visit the following
link: http://media3.marketwire.com/docs/GOTMaps21.pdf


The magnetic results have provided important information regarding lithological
boundaries and the structural regime (eg faulting).


The 2012 program will include drill testing of the high priority targets and
possibly further IP surveying.


Ken Chapple, President of Golden Touch, a Fellow of the Australian Institute of
Geoscientists and hence a qualified person under the meaning of Canadian
National Instrument 43-101, is responsible for the technical content of this
news release.


On Behalf of the Board of Directors 

Golden Touch Resources Corp.

Ken Chapple, President & CEO

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