Golden Goliath Resources Ltd.: More High Grade Gold and Silver Results at Las Bolas
29 April 2009 - 2:44AM
Marketwired Canada
Golden Goliath Resources Ltd. (TSX VENTURE:GNG)(PINK SHEETS:GGTH-F) is very
pleased to announce that assays from recent infill underground chip sampling of
the Station 37 area within the old Las Bolas mine tunnel have now been received.
The recently assayed samples have returned gold values as high as 51.2
grams/tonne gold over 0.75 metres, and as high as 2,300 grams/tonne silver over
1.2 metres. This infill chip sampling and detailed 1:50 scale geologic mapping
program, along with other work recommended by the independent consultant
responsible for the 43-101 compliant resource estimation, is designed to
increase sampling density resulting in geological and grade continuity
confidence. This type of data will be used to document mineral values for a
select number of Golden Goliath's exploration projects within the 100% owned
Uruachic Camp.
In addition to the infill sampling program, Golden Goliath's exploration team
has been completing highly detailed 1:50 scale maps of the Las Bolas tunnel at
the request of the independent consultant administering the inventory report.
There have been a total of 65 new chip samples collected from Station 37) and it
is important to note that these assay results are not repeats of previous chip
samples, but comprise new information. The assay results, like those recently
released from 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.
Station 37, and the previously announced Station 19, occur on the northeast
trending Las Bolas vein structure and are believed to be high grade mineralized
shoots along the trace of the structure. The Las Bolas project is believed to be
comprised of several en-echelon vein structures of undetermined extent. The vein
structures are named Las Bolas - Gambusino, Frijolar, Guadalupana, El Corazon.
In addition, the El Manto zone, which follows the contact of andesitic rocks
above and metamorphic rocks below, is believed to be a flat lying zone.
Station 37 is approximately 200 metres further along the Las Bolas workings than
Station 19. The main portion of Station 19 covers a length of approximately 45
metres in the Las Bolas tunnel, and is approximately 60 metres below the
surface.
The recent results from stations 19 and 37, along with reverse circulation drill
hole B-04-3, (154 grams/tonne silver with 3.22 gms gold/tonne 12.3 metres,
including 515 gms/tonne silver and 11.1 gms gold/tonne over 3.1 metres), clearly
show that this is a substantial zone, over 200 metres long, containing much
higher gold values. Additional drilling will be needed to test the extent of
this zone to depth and along strike.
The weighted average of 41 of the chip samples taken across a 30.6 metre extent
of Station 37 is 4.70 grams/tonne gold and 486 grams/tonne silver across an
average width of 2.02 metres. Within this zone is an 11 metre section with a
weighted average of 15.27 grams gold/tonne and 698 grams silver/tonne over an
average width of 2.65 metres. In addition samples 457 to 462 represent a
continuous series of samples averaging 22.18 gms gold/tonne and 576 grams
silver/tonne over 6.89 metres. The Company is extremely pleased with these
results, which are tabulated below, as they will have a positive impact on the
resource calculation.
--------------------------------------------------------------------------
Weighted
Zone FW(ii) HW(iii) Gold Silver Width Average
------------------------------------------------------------------
Gold Silver
Sample gms/ gms/ gms/ gms/
Number (cm)(i) (cm) (cm) tonne tonne (metres) tonne tonne
--------------------------------------------------------------------------
584448 60 0.2 244
--------------------------------------------------
584449 150 0.24 329
--------------------------------------------------
584450 50 0.08 154 2.6 0.20 276
--------------------------------------------------------------------------
584451 50 0.27 156
--------------------------------------------------
584452 200 0.4 667
--------------------------------------------------
584453 50 0.2 237 3 0.35 510
--------------------------------------------------------------------------
584454 100 3.63 122
--------------------------------------------------
584455 120 0.84 2300
--------------------------------------------------
584456 30 0.87 1220 2.5 1.96 1,299
--------------------------------------------------------------------------
584457 70 1.44 240
--------------------------------------------------
584458 74 0.2 162
--------------------------------------------------
584459 300 37.2 1170 4.44 25.40 855
--------------------------------------------------------------------------
584460 75 51.2 223
--------------------------------------------------
584461 90 0.44 52
--------------------------------------------------
584462 80 1.56 19 2.45 16.34 94
--------------------------------------------------------------------------
584463 50 0.25 35
--------------------------------------------------
584464 70 5.62 150 1.2 3.38 102
--------------------------------------------------------------------------
584465 60 0.08 46
--------------------------------------------------
584466 90 0.12 291
--------------------------------------------------
584467 70 0.28 74 2.2 0.16 155
--------------------------------------------------------------------------
584468 75 0.08 43
--------------------------------------------------
584469 90 0.4 1320 1.65 0.25 740
--------------------------------------------------------------------------
584470 90 0.08 255
--------------------------------------------------
584471 90 0.19 522 1.8 0.14 389
--------------------------------------------------------------------------
584472 60 0.05 492
--------------------------------------------------
584473 125 0.32 866 1.85 0.23 745
--------------------------------------------------------------------------
584474 100 0.52 158 1 0.52 158
--------------------------------------------------------------------------
584475 60 2.03 48
--------------------------------------------------
584476 75 0.2 18 1.35 1.01 31
--------------------------------------------------------------------------
584477 50 0.24 21
--------------------------------------------------
584478 65 2.94 61 1.15 1.77 44
--------------------------------------------------------------------------
584479 100 0.2 54 1 0.20 54
--------------------------------------------------------------------------
584480 80 1.15 925
--------------------------------------------------
584481 90 1.46 1585
--------------------------------------------------
584482 110 0.15 136 2.8 0.86 827
--------------------------------------------------------------------------
584483 60 0.38 121
--------------------------------------------------
584484 105 1.81 592
--------------------------------------------------
584485 60 0.29 180 2.25 1.02 357
--------------------------------------------------------------------------
584486 100 0.19 358 1 0.19 358
--------------------------------------------------------------------------
584487 112 0.19 221
--------------------------------------------------
584488 95 0.05 34 2.07 0.13 135
--------------------------------------------------------------------------
584489 66 0.08 13
--------------------------------------------------
584490 90 0.08 5 1.56 0.08 8
--------------------------------------------------------------------------
584491 94 0.05 26 0.94 0.05 26
--------------------------------------------------------------------------
584492 110 0.08 201 1.10 0.08 201
--------------------------------------------------------------------------
584493 59 0.1 91
--------------------------------------------------
584494 64 0.05 5 1.23 0.07 46
--------------------------------------------------------------------------
584495 68 0.1 230
--------------------------------------------------
584496 48 0.08 8 1.16 0.09 138
--------------------------------------------------------------------------
584497 75 0.08 34
--------------------------------------------------
584498 65 0.28 142 1.4 0.17 84
--------------------------------------------------------------------------
584499 100 0.05 16 1 0.05 16
--------------------------------------------------------------------------
584500 30 0.06 10 0.3 0.06 10
--------------------------------------------------------------------------
105435 100 0.05 5
--------------------------------------------------
105436 100 0.05 5 2 0.05 5
--------------------------------------------------------------------------
105437 85 0.05 5 0.85 0.05 5
--------------------------------------------------------------------------
105438 103 0.05 5 1.03 0.05 5
--------------------------------------------------------------------------
105439 55 0.05 5
--------------------------------------------------
105440 65 0.21 121 1.2 0.13 68
--------------------------------------------------------------------------
105441 50 0.08 19
--------------------------------------------------
105442 50 0.47 54 1 0.28 37
--------------------------------------------------------------------------
105443 38 0.05 95
--------------------------------------------------
105444 50 0.05 12 0.88 0.05 48
--------------------------------------------------------------------------
105445 60 0.05 16
--------------------------------------------------
105446 70 0.08 53 1.3 0.07 36
--------------------------------------------------------------------------
(cm(i)) equals centimeter, FW(ii) equals Footwall, HW(iii) equals
Hangingwall
The Company is continuing with underground work that 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.
To find out more about Golden Goliath visit www.goldengoliath.com.
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