Infill Sampling Program at Golden Goliath's Las Bolas Property Yields High Grade Gold and Silver Results
16 April 2009 - 2:32AM
Marketwired Canada
Golden Goliath Resources Ltd. (TSX VENTURE:GNG)(PINK SHEETS:GGTH-F) is pleased
to announce that a comprehensive series of infill chip samples taken within the
Las Bolas mine tunnel have returned very encouraging results. The recently
assayed samples have returned gold values as high as 11.15 grams/tonne gold, and
as high as 4,740 grams/tonne silver. This infill sampling program is part of the
Company's ongoing mineral inventory estimation, which is being conducted to
document mineral values for a select number of Golden Goliath's exploration
projects within the 100% owned Uruachic Camp. The mineral inventory estimation
is proceeding on schedule and is being completed under the supervision of an
independent qualified person pursuant to NI 43-101 standards.
In addition to the infill sampling program, Golden Goliath's exploration team
has been completing highly detailed maps of the Las Bolas tunnel region at the
request of the independent consultant administering the inventory report. There
have been a total of 134 new chip samples collected from two of the mineralized
zones within the Las Bolas mine (Station 19 and Station 37). It is important to
note that these assay results are not repeats of previous chip samples, but
comprise new information. The first set of assay results, which are only for
Station 19, show the presence of high grade silver and gold mineralization not
only in the structure, but in its hangingwall and footwall as well. The main
portion of Station 19 covers a length of approximately 45 metres in the Las
Bolas tunnel, approximately 60 metres below the surface, with a parallel zone 11
metres to the north that is exposed for a length of 20 metres. The high grade
gold mineralization in station 19, up to 11.15 grams/tonne, is of similar grade
to that found in reverse circulation drill hole B-04-3, which returned a 12.3
metre section averaging 154 grams/tonne silver and 3.22 grams/tonne gold,
including a 3.1 metre section, from 134 to 137.1 metres, averaging 515
grams/tonne silver and 11.1 grams/tonne gold. This drill hole is collared
approximately 200 metres east of Station 19.
The weighted average of the 77 chip samples taken across the 45 metre extent of
Station 19 is 3.6 grams/tonne gold and 842 grams/tonne silver. The Company is
extremely pleased with these results, which are tabulated below, as they will
have a positive impact on the resource calculation.
--------------------------------------------------------------------------
Weighted Average
Zone FW HW Gold Silver Gold Silver
Sample (cm) (ii) (iii) gms/ gms/ Width gms/ gms/
Number (i) (cm) (cm) tonne tonne (metres) tonne tonne
--------------------------------------------------------------------------
584370 80 1.84 1,455
-----------------------------------------------
584371 148 8.35 641 2.99 4.73 760
-----------------------------------------------
584372 71 0.43 223
--------------------------------------------------------------------------
584373 74 0.31 416
-----------------------------------------------
584374 76 5.21 3,890 2.06 2.37 1,861
-----------------------------------------------
584375 56 1.22 1,015
--------------------------------------------------------------------------
584376 100 6.78 364 1.0 6.78 364
--------------------------------------------------------------------------
584377 58 3.55 262
-----------------------------------------------
584378 134 6.58 291 2.48 4.41 221
-----------------------------------------------
584379 56 0.12 12
--------------------------------------------------------------------------
584380 68 0.08 10
-----------------------------------------------
584381 120 0.32 14 2.92 0.29 15
-----------------------------------------------
584382 104 0.4 19
--------------------------------------------------------------------------
584383 90 0.15 18
-----------------------------------------------
584384 61 0.59 36
----------------------------------------------- 3.55 0.18 21
584385 69 0.05 9
-----------------------------------------------
584386 64 0.16 46
--------------------------------------------------------------------------
584387 71 0.16 8
-----------------------------------------------
584388 86 0.05 6 2.23 0.09 9
-----------------------------------------------
584389 66 0.05 14
--------------------------------------------------------------------------
584390 80 0.05 5
----------------------------------------------- 2.07 0.05 6
584391 127 0.05 6
--------------------------------------------------------------------------
584392 81 0.05 5
-----------------------------------------------
584393 84 0.28 6 2.66 0.12 5
-----------------------------------------------
584394 101 0.05 5
--------------------------------------------------------------------------
584395 75 0.48 885
-----------------------------------------------
584396 50 1.2 1,500 1.85 0.70 862
-----------------------------------------------
584397 60 0.56 302
--------------------------------------------------------------------------
584398 60 0.12 23
----------------------------------------------- 1.6 0.15 41
584399 100 0.16 52
--------------------------------------------------------------------------
584400 103 0.68 599
-----------------------------------------------
584401 76 0.39 1,320
----------------------------------------------- 3.29 0.57 1,313
584402 60 0.83 2,720
-----------------------------------------------
584403 90 0.44 1,185
--------------------------------------------------------------------------
584404 70 0.12 164
-----------------------------------------------
584405 50 1.28 2,310 2.4 0.34 579
-----------------------------------------------
584406 120 0.08 99
--------------------------------------------------------------------------
584407 100 0.69 2,150
-----------------------------------------------
584408 75 7.49 1,675
-----------------------------------------------
584409 60 1.88 4,230 3.95 2.14 2,119
-----------------------------------------------
584410 80 0.9 1,735
-----------------------------------------------
584411 80 0.39 1,295
--------------------------------------------------------------------------
584412 80 0.24 994
----------------------------------------------- 1.7 0.18 691
584413 90 0.12 422
--------------------------------------------------------------------------
584414 75 0.52 451
-----------------------------------------------
584415 90 0.05 36 2.55 0.21 188
-----------------------------------------------
584416 90 0.12 121
--------------------------------------------------------------------------
584417 60 0.2 378
-----------------------------------------------
584418 80 1.1 289 2.1 0.49 227
-----------------------------------------------
584419 70 0.05 28
--------------------------------------------------------------------------
584420 85 0.85 4,740 0.85 0.85 4,740
--------------------------------------------------------------------------
584421 65 0.77 439
-----------------------------------------------
584422 65 0.6 544
----------------------------------------------- 3.1 3.41 589
584423 130 5.59 620
-----------------------------------------------
584424 50 4.82 761
--------------------------------------------------------------------------
584425 50 0.08 541
-----------------------------------------------
584426 65 0.28 1,535
----------------------------------------------- 2.25 0.64 780
584427 50 1.04 437
-----------------------------------------------
584428 60 1.15 448
--------------------------------------------------------------------------
584429 65 1.38 1,050
-----------------------------------------------
584430 105 4.47 845 2.2 2.57 736
-----------------------------------------------
584431 50 0.12 98
--------------------------------------------------------------------------
584432 60 0.05 67
-----------------------------------------------
584433 150 11.15 942 2.6 6.49 572
-----------------------------------------------
584434 50 0.24 66
--------------------------------------------------------------------------
584435 65 0.05 59
-----------------------------------------------
584436 70 3.15 760 2.05 1.57 412
-----------------------------------------------
584437 70 1.39 391
--------------------------------------------------------------------------
584438 72 0.43 325
----------------------------------------------- 1.72 0.51 409
584439 100 0.56 470
--------------------------------------------------------------------------
584440 103 0.2 407
----------------------------------------------- 1.93 0.20 309
584441 90 0.2 197
--------------------------------------------------------------------------
584442 30 0.08 43
-----------------------------------------------
584443 80 1.16 582 1.84 0.90 1,012
-----------------------------------------------
584444 74 0.95 1,870
--------------------------------------------------------------------------
584445 100 0.05 144
----------------------------------------------- 1.8 0.06 154
584446 80 0.08 167
--------------------------------------------------------------------------
584447 105 0.08 206 1.05 0.08 206
--------------------------------------------------------------------------
(cm)(i) equals centimeter,
FW(ii) equals Footwall,
HW(iii) equals Hangingwall
The Company is continuing with underground work and should have the Station 37
assays soon. It is also expected that the current results and the resource
inventory report will assist the Company in developing its next set of drill
targets, designed to expand the high grade silver and gold zones within Las
Bolas, by highlighting areas which can most easily add mineralized tonnage to
the future exploration programs. Both the Las Bolas and San Timoteo project
areas are priority target zones within the Company's district sized Uruachic
Camp (a 15 km x 25 km region) which surrounds the historic mining village of
Uruachic in the mineral rich Sierra Madre mountains of Chihuahua, Mexico.
About Golden Goliath
Golden Goliath Resources Ltd. is a junior exploration company listed on the TSX
Venture Exchange (symbol GNG). Assays are done using traditional methods at
Inspectorate Labs and Chemex Labs. The Qualified Person for the Uruachic project
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.
Unlike most juniors, which have an option to earn an interest in a single
property or a few scattered properties in various areas or countries, Golden
Goliath controls an entire old mining camp, or district, that covers an area of
15 by 25 kilometres, with numerous past producing gold and silver mines dating
back to the time of the Spaniards. 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.
Forward Looking Statements
The statements made in this news release may contain forward-looking statements
that may involve a number of risks and uncertainties. Actual events or results
could differ materially from the Company's expectations and projections.
Golden Goliath Resources (TSXV:GNG)
Historical Stock Chart
From Jan 2025 to Feb 2025
Golden Goliath Resources (TSXV:GNG)
Historical Stock Chart
From Feb 2024 to Feb 2025
