Golden Goliath Resources Ltd. Completes 10 Drill Holes Across Northern Edge of West Grid
Will Now Test New Parallel Structures in South Area of West Grid, Kwai Project, Red Lake, OntarioFive drill holes planned for south structures and IP targets
Vancouver, November 10, 2020 - Golden Goliath Resources Ltd. (TSXV: GNG) (OTC Pink: GGTHF) (FSE: GGZ) has extended mineralization and alteration zones on the north side of the West Grid an additional 380m eastward along the Pakwash Fault by completing drill holes K20-08, 09, and 10. The extensive quartz vein system that was intersected has been split and sent for assay (see photos on Company web site). Samples have now been sent to more than one lab in an attempt to improve turn-around time for results.
Figure 1: Red Lake District Properties including the Kwai and SLF properties of Golden Goliath
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4761/67864_a4c4d764c4dba8a5_002full.jpg
The host package of basalt and porphyry has also been extended eastward and less metamorphosed phases have been encountered which correspond with outcrops on the eastern portion of the property, some 5000m to the east. Intense shearing and faulting were encountered in these last 3 holes, as was expected being close to the major deep seated fault. Drill hole K20-09 intersected extensive quartz veining as did hole 08 giving this quartz zone itself a 120-150m strike length.
As the company awaits completion of the assays from the drill holes K20-01 to K20-06, which should be complete soon, as well as holes K20-7,8, 9 and 10, most of which have already been sent to the lab. All of those holes were completed along the northern edge of the West Grid. The drill is now being moved to test other parallel fault structures and numerous IP anomalies south of the Pakwash Fault on the West Grid (see Figure 2). The first drill hole in this series (K20-11) will be on line 200E, 425N and is designed to test strong IP anomalies and a fault structure. This will be followed by hole K20-12 on 200E at 267N to test two other IP anomalies and a shear structure. Pristine gold grains were found at these localities. Five holes are presently planned but this can be modified based on what is found.
Figure 2: West Grid Completed and proposed Drill Holes
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4761/67864_a4c4d764c4dba8a5_003full.jpg
CEO Paul Sorbara Comments: "Drill holes 8, 9 and 10 contained a lot more quartz veining than we had seen before, as well as some carbonate alteration. We have now gone as far east as we can due to the presence of the lake. The new core has been logged, split, sampled and is being sent to the lab. We are now excited to test the targets along the south side of the West Grid."
This news release has been reviewed by Robert S. Middleton P.Eng who is acting as QP for this phase of the exploration under the NI 43-101 requirements.
On behalf of the Board of Directors
Paul Sorbara, MSc, PGeo
CEO, Golden Goliath Resources Ltd.
Cautionary Statements Regarding Forward Looking Information
Certain statements included herein may constitute "forward-looking statements". All statements included in this press release that address future events, conditions or results, including in connection with exploration activity, future acquisitions and any financing, are forward-looking statements. These forward-looking statements can be identified by the use of words such as "may", "must", "plan", "believe", "expect", "estimate", "think", "continue", "should", "will", "could", "intend", "anticipate" or "future" or the negative forms thereof or similar variations. These forward-looking statements are based on certain assumptions and analyses made by management in light of their experiences and their perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. These statements are subject to risks, uncertainties and assumptions, including those mentioned in the Company's continuous disclosure documents, which can be found under its profile on SEDAR (www.sedar.com). Many of such risks and uncertainties are outside the control of the Company and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In making such forward-looking statements, management has relied upon a number of material factors and assumptions, on the basis of currently available information, for which there is no insurance that such information will prove accurate. All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
FOR MORE INFORMATION CONTACT:
Golden Goliath Resources Ltd.
J. Paul Sorbara, M.Sc., P.Geo
President & CEO
Phone: +1(604) 682-2950
Email: jps@goldengoliath.com
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.
About Golden Goliath
Golden Goliath Resources Ltd. is a junior exploration company listed on the TSX Venture Exchange (symbol GNG). 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.
To find out more about Golden Goliath visit our website at www.goldengoliath.com.
