Golden Goliath Resources Ltd.: New Gold/Silver Zone Identified at Las Bolas
27 October 2009 - 4:45AM
Marketwired Canada
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
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