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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Golden Goliath Resources Ltd | TSXV:GNG | 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% | 0.045 | 0.04 | 0.045 | 0.045 | 0.045 | 0.045 | 16,100 | 14:30:00 |
Hot Features
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Golden Goliath Resources Ltd. (TSX VENTURE:GNG) (US:GGTH-F) -
Highlights
-- LH-19 (entire drill hole mineralized- ending in mineralization) has 130m
of 0.34 g/t Au in Filo de Oro zone-mineralization is open to depth in
all directions.
-- LH-06C, starting at surface, averages 47.6m of 1.61 g/t Au & 13 g/t Ag
including 17.5m of 2.12 g/t Au & 20 g/t Ag with a high grade section
2.85m of 4.58 g/t Au & 31 g/t Ag.
-- LH-06A starting at surface averages 28.3m of 0.89 g/t Au & 17 g/t Ag.
-- Drill Hole LH-10 from surface averages 22.6m of 0.32 g/t Au & 9 g/t Ag.
Golden Goliath is pleased to announce that the Company has completed 23 drill
holes on its Las Bolas - Los Hilos Property. The 4,000 metre program started in
July with surface diamond drilling in the Los Hilos area. To date, twenty three
of the twenty four holes planned for the Los Hilos area have been completed.
Drilling in the Las Bolas area will commence upon completion for the Los Hilos
drilling with an additional 8 to 10 holes. The drilling program is designed to
accomplish several objectives; to increase the existing inferred resource, to
substantiate the previously estimated potential target of the 12 known vein
systems in the western portion of the property, evaluate at depth the rapidly
developing open pit potential of the Filo de Oro trend and target the high grade
veins within the Filo de Oro trend.
Bulk Tonnage Gold Target:
Filo de Oro North Zone (a new discovery)
The ongoing drilling has confirmed that mineralization is present in both
disseminated and high-grade-veins. The first-ever hole drilled in Filo de Oro
North area to test for a low-grade gold bulk-disseminated target extension to
the north and drill test the mineralized northwesterly structure, has
intercepted mineralization from the surface with high-grade feeder veins below.
Drilling to date has discovered wide spread disseminated gold mineralization
over a 1360m area extending both to the north and south of the Los Hilos tunnel.
Filo de Oro North zone is about 700m to the north of the Los Hilos tunnel. The
Company has drilled an additional hole to test the down dip extension of the
LH-10 mineralized zones which confirmed that mineralization extends down-dip.
The Company is planning to return to this area with additional drilling.
LH-10 was the fist-ever hole drilled in this zone, some 700m north of the Los
Hilos tunnel. The hole returned, starting at surface, 22.6m of 0.32g/t Au & 9
g/t Ag; follow up drill hole, LH-24 testing the down-dip extension returned
higher grades than LH-10, indicating the grade is increasing at depth. LH-24,
starting at surface, returned 14.15m 0.83 g/t Au & 21 g/t Ag.
Filo de Oro Central Zone (Los Hilos Tunnel Area)
LH-04, LH-05, LH06, LH-06A, LH-06C & LH-19 were drilled around the Los Hilos
tunnel area at various elevations to test for the high grade veins and as well
as test the overlying low grade bulk disseminated gold target. The drilling has
been successful in drilling both of the aforementioned targets. LH-04 was
drilled to test the overlying felsic rock as a bulk disseminated target. The
159m hole averaged 0.18 g/t Au ending in mineralization. LH-05 drilled further
to the east and higher up returned 12.7m of 0.28 g/t Au. It is important to note
that the drill hole ended in a high grade zone where the last sample returned
1.29 g/t Au and 91.3 g/t Ag over 0.55m. LH-06 returned, starting at surface, 36m
of 0.41 g/t gold and 4 g/t Ag. LH-06A returned 28.3m of 0.89 g/t Au and 16 g/t
Ag , starting at surface; and LH-06C returned 47.6m of 1.61 g/t Au and 13 g/t
Ag, also starting at surface. LH-19 was also designed to test for a bulk-tonnage
target. It has retuned a wider zone of 0.34 g/t Au and 3 g/t Ag over 130m, the
entire length of the drill hole, ending in mineralization. LH-19 had a higher
grade cap of 0.88 g/t Au and 8 g/t Ag over 24.95m, starting at surface.
Previous drilling in this area has indicated similar grade, e.g. LH-21,
previously reported, 151m length of 0.25 g/t gold, the entire drill hole being
mineralized top to bottom.
Filo de Oro South Zone (Los Hilos Tunnel Area)
The Company returned to this area following LH-18, a new discovery hole with
wide mineralized zones related to intrusions indicating possible large tonnage
potential. This area is about 650m south of the Los Hilos tunnel area. Two drill
holes LH-25 and LH-26 have been completed and the results are pending.
High Grade Veins:
Los Hilos Veins & Overlying disseminated mineralization:
LH-06, LH-06A, LH-06C were drilled to test the down-dip extension of the high
grade gold and silver veins sampled in the Los Hilos Tunnel area. LH-06
intersected a high grade vein of 5.9m grading 2.1 g/t Au and 18 g/t Ag in a
wider zone of 17.55m grading 1.06 g/t gold and 9 g/t silver, some 48m blow the
Los Hilos tunnel. The Last 18.5m of the LH-06 are in the lab and visually
resembles the continuation of the latter mineralized zone. LH-06A intersected
three higher grade veins as follow: 6.3m of 1.93 g/t Au and 9 g/t Ag silver;
8.55m of 1.21 g/t Au and 7 g/t Ag; and 1.80m of 2.20 g/t Au and 9 g/t Ag. LH-06C
was drilled to test the northwesterly structures within the Los Hilos vein
system. The drill hole drilled a wider zone of gold mineralization at the top of
the drill hole returning 47.6m of 1.61 g/t Au and 13 g/t Ag. Within this wider
zone there are high grade zones such as 17.5m of 2.12 g/t and 20 g/t Ag, 2.85m
of 4.58 g/t Au and 31 g/t Ag.
LH-06A and LH-06C were step outs of about 75m to the east along strike of drill
hole LH-02 that returned 0.11 g/t Au and 138 g/t Ag over 16.35m and 0.12 g/t Au
and 343 g/t Ag over 4m. Another drill hole LH-03, targeting high grade veins
close to LH-02, returned 485 g/t Ag over 3.5m.
LH-06A and LH-06C clearly demonstrate that the high grade mineralized veins are
continuous along strike and down dip overlain by bulk-tonnage gold grade.
Further drilling is warranted along strike and down dip of these veins to
realize the potential resources hosted in these veins.
Geology & Mineralization
The geological model of disseminated gold, hosted in felsic rocks, sitting on
top of higher grade veins, hosted in mafic rocks, is true. The current drilling
has proven that the disseminated gold mineralization on top with high grade
silver veins deeper below exists over a wide area. Mineralization is also hosted
in brecciated, porphyritic intrusive rocks, which indicates potential for a
porphyry gold deposit.
Based on the Company's work, Filo de Oro has two components. A large, near
surface zone from 200 to 440 metres in width and approximately 230 metres thick,
overlies near-vertical high-grade-vein feeder zones that are beneath and cut
through the surface zone. The roughly north-south Filo de Oro trend is a
topographic high located at the east end of the east-west Las Bolas, Frijolar
and Corazon trends. These three east west trends host the other 12 known vein
systems on the Las Bolas property and the main Las Bolas Mine workings which
were the focus of the NI 43-101 report completed last fall.
LOS HILOS DRILLING SUMMARY:
A summary in table form follows:
The Company has drilled a total of 23 drill holes totaling 3,314 m to-date on
the Los Hilos Property, out of which the Company has released 17 drill holes
including this news release.
Please refer to the following tables for the assays of the new drill holes.
---------------------------------------------------------------------------
From To Width
Drill (metre) (metre) (metre) Target Comment
---------------------------------------------------------------------------
LH-04 0 159m 159m Pozo de Oro 0.18 g/t Au over 159m.
-----------------------
The Entire Drill Hole
is mineralized.
-----------------------
The drill hole ended in
mineralization.
---------------------------------------------------------------------------
Including
---------------------------------------------------------------------------
LH-04 147 148.6 1.6m Pozo de Oro 0.52 g/t Ag , 91.3 g/t
Au over 1.6m
-----------------------
The drill hole ended in
mineralization
---------------------------------------------------------------------------
LH-05 4.95 20 15.05m Pozo 0.31 g/t Au over 15.05m
de Maganeso
---------------------------------------------------------------------------
LH-05 107.3 120 12.7m Pozo 0.28 g/t Au over 12.7m
de Maganeso -----------------------
The drill hole ended in
mineralization
---------------------------------------------------------------------------
LH-05 134.9 151 16.1m Pozo 0.21 g/t Au over 16.1m
de Maganeso -----------------------
The Last sample being
1.29 g/t Au & 91.3 g/t
Ag over 0.55m
-----------------------
The drill hole ended in
mineralization
---------------------------------------------------------------------------
LH-06 0 36 36 Los-Hilos 0.41 g/t Au, 4 g/t Ag
Structure over 36m
----------------------------------- -----------------------
1.06 g/t Au, 9 g/t Ag
LH-06 163.95 181.5 17.55 over 17.55m
---------------------------------------------------------------------------
---------------------------------------------------------------------------
LH-06A 0 28.3 28.3 0.89 g/t Au, 16 g/t Ag
over 28.3m
---------------------------------------------------------------------------
Including
---------------------------------------------------------------------------
LH-06A 22 28.3 6.3 1.93 g/t Au & 9 g/t Ag
over 6.3m
---------------------------------------------------------------------------
Including
---------------------------------------------------------------------------
LH-06A 22 24.6 2.6 Los-Hilos 2.41 g/t Au & 10 g/t Ag
Structure over 2.6m
----------------------------------- -----------------------
LH-06A 32.8 41.35 8.55 1.21 g/t Au & 7 g/t Ag
over 8.55m
----------------------------------- -----------------------
LH-06A 35.5 37.2 1.7 2.59 g/t Au 17 g/t Ag
over 1.7m
----------------------------------- -----------------------
LH-06A 38.8 40.6 1.8 2.20 g/t Au & 9 g/t Ag
over 1.8m
---------------------------------------------------------------------------
---------------------------------------------------------------------------
LH-06C 0 47.6 47.6 1.61 g/t Au, 13 g/t Ag
over 47.6m
---------------------------------------------------------------------------
Including
---------------------------------------------------------------------------
LH-06C 0 6.4 6.4 1.92 g/t Au & 12 g/t Ag
over 6.4m
---------------------------------------------------------------------------
Including
---------------------------------------------------------------------------
LH-06C 11 17.9 6.9 1.42 g/t Au & 10 g/t Ag
over 6.9m
---------------------------------------------------------------------------
Including
---------------------------------------------------------------------------
LH-06C 26.6 44.1 17.5 2.12 g/t Au & 20 g/t Ag
over 17.5m
---------------------------------------------------------------------------
Including
---------------------------------------------------------------------------
LH-06C 41.25 44.1 2.85 Los-Hilos 4.58 g/t Au & 31 g/t Ag
Structure over 2.85m
----------------------------------- -----------------------
LH-06C 64.6 79.4 14.8 0.52 g/t Au & 2 g/t Ag
over 14.8m
---------------------------------------------------------------------------
---------------------------------------------------------------------------
LH-10 0 22.6 22.6m Filo-de-Oro DISCOVERY HOLE
North -----------------------
0.32 g/t Au, 9 g/t Ag
22.6m
---------------------------------------------------------------------------
LH-10 38.15 40.65 2.50m Filo-de-Oro DISCOVERY HOLE
North -----------------------
1.39 g/t Au,26 g/t Ag
2.5m
---------------------------------------------------------------------------
LH-10 52.6 55.4 2.80m Filo-de-Oro 1.02 g/t Au,26 g/t Ag
North 2.80m
---------------------------------------------------------------------------
---------------------------------------------------------------------------
LH-19 0 130 130m Los-Hilos 0.34 g/t Au & 3 g/t Ag
structures over 130m
-----------------------
The Entire Drill Hole
is mineralized.
---------------------------------------------------------------------------
Including
---------------------------------------------------------------------------
LH-19 0 68.8m 68.8m Los-Hilos 0.51 g/t Au & 4 g/t Ag
structures over 68.8m
-----------------------
The Entire Drill Hole
is mineralized.
---------------------------------------------------------------------------
LH-24 0 14.15 14.15 Filo-de-Oro 0.83 g/t Au & 21 g/t Ag
North DISCOVERY HOLE- FOLLOW
UP
---------------------------------------------------------------------------
Including
---------------------------------------------------------------------------
LH-24 4 7.9 3.9 Filo-de-Oro 1.24 g/t Au & 36 g/t Ag
--------------------------- North -----------------------
50.8 54 3.2 0.76 g/t Au & 21 g/t Ag
--------------------------- -----------------------
70.7 75.35 4.65 0.69 g/t Au & 15 g/t Ag
---------------------------------------------------------------------------
About Golden Goliath
Golden Goliath Resources Ltd. is a junior exploration company listed on the TSX
Venture Exchange (symbol GNG). The Qualified Person who has reviewed and
approved this release is J. Paul Sorbara M.Sc., P.Geo. The Company is focused on
exploring and developing the gold and silver potential of an historic mining
camp located in the world famous Sierra Madre Occidental Mountains of
northwestern Mexico. Golden Goliath's Uruachic claims are owned 100% by the
Company and are fully paid for with no property option or purchase payments to
make.
To view the maps accompanying this press release please visit the following
link: http://media3.marketwire.com/docs/dh_plan_Oct17.pdf
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