Golden Goliath Resources Ltd.: New Gold/Silver Zone Identified at Las Bolas
27 October 2009 - 4:45AM
Marketwired
Golden Goliath Resources Ltd. (TSX VENTURE: GNG)(PINK SHEETS:
GGTH-F)
The Company is pleased to announce that a new zone of gold and
silver mineralization has been identified on its 100% owned Las
Bolas property. The Los Hilos Ridge, or Filo de Oro, is a
north-south feature that lies at the far eastern edge of the Las
Bolas property. The ridge itself is about 1,400 metres long, 200 to
400 metres wide and up to 175 metres high. Several old workings
have already been identified that occur over a vertical interval of
105 metres.
Preliminary results from chip sampling within some of these
workings have just been received and are very encouraging, see
attached table for assay results. It is important to point out that
this mineralization and its potential is not included in the
Company's recent 43-101 preliminary resource calculation report for
the main portion of the Las Bolas property (September 24, 2009
press release). That mineralization occurs mainly in three
northeast-southwest trends. The Los Hilos Ridge lies at the far
eastern edge of those trends, about 1,100 metres from the entrance
to the Las Bolas tunnel, and is almost perpendicular to it. Most of
the gold and silver bearing veins sampled in the Los Hilos Ridge
workings strike north-northwest (Az 280 degrees to 345 degrees),
parallel to the ridge. This attitude, combined with the fact that
the Los Hilos Ridge mineralization has a higher gold ratio,
indicates this is a different mineralizing system from the main
portion of the Las Bolas property. The chip sample results received
to date represent only about 40% of the samples recently taken and
detailed mapping and sampling is continuing.
The Mosca de Plata veins have the following attributes:
- Azimuth 280 degrees to 345 degrees, dipping 40 degrees-80
degrees to the West & 60 degrees-75 degrees to the East (68
locations measured within the tunnel)
- E-W dipping 50 degrees-60 degrees to the North (12 locations
measured in the tunnel)
- N-S dipping 50 degrees-70 degrees to the West (4 locations
measured in the tunnel)
The Mosca de Plata chip sampling program has confirmed the
entire length of the workings is mineralized. The sampling returned
an average of 0.98 gm/tonne gold and 104.8 gm/tonne silver over an
approximate length of 38 metres. Within this mineralized length, a
3.7 metre wide zone returned 2.69 gm/tonne gold and 112 gm/tonne
silver (sample numbers 760814-760816). The highest gold assay
returned is 7.62 gm/tonne of gold and 223 gm/tonne silver over 1.4
metres and the highest silver assay returned is 2,030 gm/tonne
silver with 1.65 gm/tonne gold over 0.5 metres in a brecciated
hanging wall of a NW trending vein-structure. Please see the
attached complete table of assays for the details.
Ten metres to the east and 30 metres vertically below the Mosca
de Plata tunnel the Company sampled another old working called Palo
Dulce. The 51 metre long workings of Palo Dulce returned an average
of 0.25 gm/tonne gold and 35.1 gm/tonne silver. The highest gold
assay returned 1.06 gm/tonne gold and 63 gm/tonne silver over 0.9
metres and the highest silver assay returned is 374 gm/tonne silver
with 0.68 gm/tonne gold over 0.55 metres. Please refer to the
attached table of assays for details.
The Company is focusing its efforts to understand mineralization
controls including structures and lithologies in the Los Hilos
area. Detailed 1:50 scale mapping is currently underway. The
Company is pursuing an open pit disseminated gold deposit model in
the Los Hilos area with Mosca de Plata as a high grade
vein-structure within the open pit. Part of the proceeds of the
Company's current financing will be used to further develop this
important new mineralized zone.
About Golden Goliath
Golden Goliath Resources Ltd. is a junior exploration company
listed on the TSX Venture Exchange (symbol GNG). 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.
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 find out more about Golden Goliath visit our website at
www.goldengoliath.com.
----------------------------------------------------------------------------
MOSCA de PLATA ASSAY TABLE
----------------------------------------------------------------------------
Sample Gold Silver Sample Gold Silver
No. gm/tonne gm/tonne Width-m No. gm/tonne gm/tonne Width-m
------------------------------------- -------------------------------------
760801 0.21 2.5 0.80 760841 0.08 13 2.00
------------------------------------- -------------------------------------
760802 0.21 109 1.20 760842 0.84 24 0.80
------------------------------------- -------------------------------------
760803 0.09 16 1.00 760843 0.29 31 1.10
------------------------------------- -------------------------------------
760804 0.21 64 1.25 760844 4.9 373 1.30
------------------------------------- -------------------------------------
760805 0.1 5 1.15 760845 0.19 16 1.05
------------------------------------- -------------------------------------
760806 0.73 20 1.10 760846 1.87 42 1.30
------------------------------------- -------------------------------------
760807 0.22 183 1.15 760847 0.13 33 0.70
------------------------------------- -------------------------------------
760808 0.1 27 1.00 760848 0.16 16 0.60
------------------------------------- -------------------------------------
760809 0.41 72 0.70 760849 0.4 14 1.60
------------------------------------- -------------------------------------
760810 0.37 78 1.30 760850 0.31 15 1.30
------------------------------------- -------------------------------------
760811 0.57 129 0.95 760851 1.33 26 0.80
------------------------------------- -------------------------------------
760812 0.11 34 1.80 760852 0.24 77 0.80
------------------------------------- -------------------------------------
760813 6.67 91 1.65 760853 0.08 8 0.85
------------------------------------- -------------------------------------
760814 2.51 256 1.50 760854 0.19 8 1.50
------------------------------------- -------------------------------------
760815 4.22 19 1.15 760855 0.03 71 0.80
------------------------------------- -------------------------------------
760816 1.28 8 1.05 760856 0.39 185 0.70
------------------------------------- -------------------------------------
760817 1.7 10 0.85 760857 0.66 1155 1.70
------------------------------------- -------------------------------------
760818 1.58 17 1.30 760858 0.44 35 1.20
------------------------------------- -------------------------------------
760819 2.3 39 1.30 760859 0.03 60 1.10
------------------------------------- -------------------------------------
760820 7.62 223 1.40 760860 0.39 15 0.60
------------------------------------- -------------------------------------
760821 0.69 22 0.75 760861 2.25 25 0.60
------------------------------------- -------------------------------------
760822 1.96 19 0.95 760862 0.23 70 1.80
------------------------------------- -------------------------------------
760823 0.84 33 0.65 760863 0.44 20 2.00
------------------------------------- -------------------------------------
760824 0.1 8 1.15
-------------------------------------
760825 0.08 5 0.80
-------------------------------------
760826 0.98 18 0.75
-------------------------------------
760827 0.15 11 1.40
-------------------------------------
760828 0.47 17 1.00
-------------------------------------
760829 0.17 16 1.10
-------------------------------------
760830 0.1 39 1.10
-------------------------------------
760831 0.025 62 1.30
-------------------------------------
760832 0.78 193 1.20
-------------------------------------
760833 0.39 202 1.10
-------------------------------------
760834 0.59 43 1.00
-------------------------------------
760835 0.87 54 0.75
-------------------------------------
760836 0.25 88 1.20
-------------------------------------
760837 0.25 252 1.70
-------------------------------------
760838 1.65 2030 0.50
-------------------------------------
760839 0.025 7 1.10
-------------------------------------
760840 0.13 32 1.10
-------------------------------------
----------------------------------------------------------------------------
PALO DULCE ASSAY TABLE
----------------------------------------------------------------------------
Sample Gold Silver Sample Gold Silver
No. gm/tonne gm/tonne Width-m No. gm/tonne gm/tonne Width-m
------------------------------------- -------------------------------------
760701 0.12 2.5 0.75 760743 0.06 7 0.70
------------------------------------- -------------------------------------
760702 0.27 2.5 1.25 760744 0.08 13 0.70
------------------------------------- -------------------------------------
760703 0.45 2.5 1.05 760745 0.06 11 0.80
------------------------------------- -------------------------------------
760704 0.27 2.5 0.70 760746 0.08 18 1.45
------------------------------------- -------------------------------------
760705 0.46 5 0.75 760747 0.14 13 1.10
------------------------------------- -------------------------------------
760706 0.2 2.5 0.85 760748 0.08 53 1.35
------------------------------------- -------------------------------------
760707 0.27 2.5 0.70 760749 0.17 21 1.45
------------------------------------- -------------------------------------
760708 1.03 2.5 0.80 760750 0.08 26 1.45
------------------------------------- -------------------------------------
760709 0.18 2.5 0.70 760751 0.56 37 0.75
------------------------------------- -------------------------------------
760710 0.25 2.5 0.80 760752 0.35 84 0.75
------------------------------------- -------------------------------------
760711 0.31 5 0.60 760753 0.94 41 0.70
------------------------------------- -------------------------------------
760712 0.25 2.5 1.05 760754 0.21 18 0.55
------------------------------------- -------------------------------------
760713 0.6 5 1.00 760755 0.3 88 0.80
------------------------------------- -------------------------------------
760714 0.12 8 0.75 760756 0.65 48 1.05
------------------------------------- -------------------------------------
760715 0.16 2.5 0.60 760757 0.16 88 0.80
------------------------------------- -------------------------------------
760716 0.025 2.5 0.55 760758 0.43 262 0.80
------------------------------------- -------------------------------------
760717 0.32 17 1.30 760759 0.22 112 0.55
------------------------------------- -------------------------------------
760718 0.3 29 1.25 760760 0.45 398 0.60
------------------------------------- -------------------------------------
760719 0.14 32 0.75 760761 0.59 89 0.80
------------------------------------- -------------------------------------
760720 0.08 34 0.70 760762 0.1 60 0.60
------------------------------------- -------------------------------------
760721 0.1 36 0.75 760763 0.56 69 0.65
------------------------------------- -------------------------------------
760722 0.06 16 0.50 760764 0.46 24 0.55
------------------------------------- -------------------------------------
760723 0.68 374 0.55 760765 0.23 49 0.50
------------------------------------- -------------------------------------
760724 0.31 55 0.70 760766 0.97 13 0.50
------------------------------------- -------------------------------------
760725 0.17 24 1.25 760767 0.46 25 0.65
------------------------------------- -------------------------------------
760726 0.18 95 1.05
-------------------------------------
760727 0.16 23 0.90
-------------------------------------
760728 0.14 18 0.75
-------------------------------------
760729 0.32 56 1.15
-------------------------------------
760730 0.12 117 0.90
-------------------------------------
760731 0.14 35 0.60
-------------------------------------
760732 1.06 63 0.90
-------------------------------------
760733 0.08 7 0.65
-------------------------------------
760734 0.18 13 0.50
-------------------------------------
760735 0.41 16 0.55
-------------------------------------
760736 0.17 62 0.70
-------------------------------------
760737 0.025 11 0.70
-------------------------------------
760738 0.16 84 0.60
-------------------------------------
760739 0.06 2.5 1.60
-------------------------------------
760740 0.13 57 1.05
-------------------------------------
760741 0.5 228 0.50
-------------------------------------
760742 0.14 76 0.80
-------------------------------------
Note: To view the map associated with this release, please click
the following link:
http://media3.marketwire.com/docs/gng1026.pdf
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Golden Goliath Resources Ltd. J. Paul Sorbara, M.Sc.,
P.Geo President & CEO +1(604)-682-2950 jps@goldengoliath.com
www.goldengoliath.com
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