Golden Goliath Resources Ltd.: 44 Samples From Newly Opened Tunnel Within Filo de Oro Mineralized Trend Average 2.07 g/t Gold an
03 February 2010 - 1:15AM
Marketwired
Golden Goliath Resources Ltd. (TSX VENTURE: GNG)(PINK SHEETS:
GGTH-F) -
HIGHLIGHTS
- Gold grades averaging 2.07 g/t and 98.61 g/t silver over 151
metres in the newly opened Los Hilos tunnel within the Filo de Oro
trend. Includes 44 chip samples averaging 0.91 metres in width with
individual samples as high as 33.9 g/t gold with 245 g/t silver
over 0.65 metres.
- In the Mosca de Plata tunnel, 105 metres above the Los Hilos
tunnel, on the Filo de Oro trend, 39 previous chip samples with
average width of 1.30 metres, averaged 0.70 g/t gold and 142 g/t
silver along 47 metres of workings.
- Mosca de Plata sampling highlights included bonanza gold and
silver grade of 24.7 g/t gold over 1.60m and 610 g/t silver over
2.60m.
- New surface samples 500 metres north of the Los Hilos tunnel
on the Filo de Oro trend with an average width of 2.37 metres,
averaged 1.13 g/t gold and 87.66 g/t silver, extending the strike
length of this bulk tonnage target to 790 metres.
Filo de Oro - Los Hilos West Tunnel
Golden Goliath's exploration team resumed work in early January
on the Filo de Oro trend, which lies on the eastern side of the Las
Bolas property. Underground detailed channel sampling within the
Los Hilos West tunnel and surface sampling 500 metres north of the
tunnel was completed.
The Los Hilos West tunnel has been rehabilitated for 169 m along
its main level, but also has internal shafts and cross cuts. It is
situated 105 m vertically below and along the trend of Mosca de
Plata vein where previous sampling has retuned exceptionally high
grade gold and silver grades (24.7 g/t gold over 1.60m and 610 g/t
silver over 2.60m). The current results confirm excellent vertical
continuity of the mineralization.
The high grade vein systems are surrounded by a low grade gold
bulk-tonnage target at Filo de Oro.
Filo de Oro plan and section maps are shown at the company's
website.
http://www.brmstatpack.com/lt/1002/1028/filo-de-oro-plan-1
http://www.brmstatpack.com/lt/1002/1029/cross-section-of-filo-de-oro
The Los Hilos West tunnel hosts at least three unique vein
structures. The results of 44 channel samples averaging 0.91 metres
width, averaged 2.07 g/t gold and 98.61 g/t silver along a 151m
long section of the tunnel. This section includes a higher grade
component of 3.90 g/t gold and 133.82 g/t silver over 36.5m, where
the average sample width was 0.84 metres, and 6.78 g/t gold and
202.73 g/t silver over 19.06m, where the average sample width was
0.94 metres. Of the 44 samples taken within the tunnel, 13 samples
were taken adjacent to the veins from footwall and hanging wall
sections. The balance of the 31 samples were taken from the Los
Hilos Vein (18 samples), the North-South Vein System (6 samples)
and the Azimuth 300 degrees-330 degrees Vein System (7
samples).
The highest grade sample, which returned 33.9 g/t gold and 245
g/t silver, was taken at the junction of two of the vein
structures. All results are tabulated below.
Filo de Oro - Surface Assays
Surface sampling north of the Los Hilos tunnel, within the main
Filo de Oro trend, included chip sampling of six exposed outcrops
returning an average grade of 1.13 g/t gold, and 87.66 g/t silver.
This sampling has extended the established strike length of the
Filo de Oro trend from 400m to 790m. The average width of the chip
samples is 2.37m and they are summarized below.
Paul Sorbara, Golden Goliath CEO, commented, "Our understanding
of the Las Bolas mineralized system has been significantly enhanced
over the past few months. Combined with the three other previously
established trends on the property, Las Bolas is clearly showing
its potential to be a major silver-gold deposit, as demonstrated by
the gold and silver grades, the 12 vein systems identified to date
apart from Filo de Oro, their overall strike length and their known
vertical extent of mineralization of over 650 metres. Our focus in
the next phase of exploration will be to expand our known resource
in the 12 vein systems identified to date on the main portion of
the Las Bolas property and to quantify the potential in the new
Filo de Oro trend."
Other Target Areas:
Golden Goliath's property portfolio encompasses a large mining
district situated in the heart of the Sierra Madre precious metal
belt. Of significance is Fresnillo PLC's Orisyvo deposit which
hosts a reported 2.8 million ounces gold (69 MT @ 1.3 g/t Au) and
is only 7 kilometres from Golden Goliath's property (source:
Fresnillo PLC's website,
http://www.fresnilloplc.com/index.php?id=70).
About Golden Goliath
Golden Goliath Resources Ltd. is a junior exploration company
listed on the TSX Venture Exchange (symbol GNG). The Qualified
Person who has reviewed this release 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.
----------------------------------------------------------------------------
Los Hilos West Tunnel Assays
----------------------------------------------------------------------------
Weighted Average
(Consecutive samples)
-------------------------
Sample Gold Silver Width Gold Silver Width
No. gm/tonne gm/tonne m gm/tonne gm/tonne m Comments
----------------------------------------------------------------------------
814001 1.51 50 0.6 N-S Vein-
Footwall
--------------------------------- --------------
814002 0.76 57 0.6 N-S Vein-
Footwall
--------------------------------- --------------
814003 0.64 57 0.8 0.94 54.90 2.00 N-S Vein-
Footwall
----------------------------------------------------------------------------
814007 2.2 33 0.9 LH-Vein
----------------------------------------------------------------------------
814008 0.95 46 0.6 LH-Vein
--------------------------------- --------------
814009 1.76 117 0.8 1.41 86.57 1.40 LH-Vein
----------------------------------------------------------------------------
814011 0.87 58 0.6 LH-Vein
----------------------------------------------------------------------------
814015 1.72 124 0.6 N-S Vein
----------------------------------------------------------------------------
814017 1.23 59 1.5 LH-Vein
----------------------------------------------------------------------------
814022 1.27 44 0.7 N-S Vein
----------------------------------------------------------------------------
814026 0.64 255 1.35 LH-Vein
----------------------------------------------------------------------------
814030 1.07 200 0.85 LH-Vein-
Footwall
----------------------------------------------------------------------------
814032 0.64 77 0.9 N-S Vein
----------------------------------------------------------------------------
814033 2.46 215 0.55 LH-Vein-
Hangingwall
--------------------------------- --------------
814034 2.0 254 0.85 2.19 238.68 1.40 LH-Vein-
Footwall
----------------------------------------------------------------------------
814035 0.87 98 0.7 LH-Vein-
Hangingwall
----------------------------------------------------------------------------
814043 0.23 15 1.6 Azimuth 300
degrees-330
degrees vein
----------------------------------------------------------------------------
814054 1.17 62 1.05 LH-Vein-
Hangingwall
----------------------------------------------------------------------------
814056 0.99 38 0.55 Azimuth 300
degrees-330
degrees vein
--------------------------------- --------------
814057 0.85 105 0.55 0.92 71.50 1.10 Azimuth 300
degrees-330
degrees vein-
Footwall
----------------------------------------------------------------------------
814059 1.91 66 0.7 LH-Vein
----------------------------------------------------------------------------
814060 2.52 702 0.6 LH-Vein-
Footwall
----------------------------------------------------------------------------
814061 6.92 124 0.7 LH-Vein-
Hangingwall
----------------------------------------------------------------------------
814064 33.9 245 0.65 LH-Vein
----------------------------------------------------------------------------
814069 1.55 47 0.85 LH-Vein
--------------------------------- --------------
814070 2.58 65 0.65 2.00 54.80 1.50 LH-Vein-
Footwall
----------------------------------------------------------------------------
814076 1.36 233 0.85 Azimuth 300
degrees-330
degrees vein
----------------------------------------------------------------------------
814086 2.52 108 0.8 LH-Vein
----------------------------------------------------------------------------
814085 2.02 190 0.75 LH-Vein
----------------------------------------------------------------------------
814092 1.56 62 0.55 LH-Vein
----------------------------------------------------------------------------
814094 2.54 76 0.6 LH-Vein
----------------------------------------------------------------------------
814096 1.28 46 0.8 N-S Vein
----------------------------------------------------------------------------
814101 1.88 57 0.75 Azimuth 300
degrees-330
degrees vein
----------------------------------------------------------------------------
814108 1.47 48 1.05 Azimuth 300
degrees-330
degrees vein
----------------------------------------------------------------------------
814109 1.26 35 0.65 Azimuth 300
degrees-330
degrees vein
--------------------------------- --------------
814110 1.36 49 0.7 1.31 42.26 1.35 Azimuth 300
degrees-330
degrees vein
----------------------------------------------------------------------------
814113 0.72 20 1.15 LH-Vein
----------------------------------------------------------------------------
814114 0.97 33 0.55 LH-Vein-
Footwall
--------------------------------- --------------
814115 0.95 54 0.6 0.96 43.96 1.15 LH-Vein
----------------------------------------------------------------------------
814136 1.07 47 0.65 N-S Vein
----------------------------------------------------------------------------
814142 1.09 38 0.75 LH-Vein
----------------------------------------------------------------------------
814147 1.94 73 0.65 LH-Vein
----------------------------------------------------------------------------
814150 0.62 20 0.8 N-S Vein
----------------------------------------------------------------------------
814152 1.81 67 0.95 LH-Vein
----------------------------------------------------------------------------
N-S = North south
LH = Los Hilos Vein (Azimuth 70 degrees-90 degrees)
---------------------------------
Filo de Oro Surface Assays
---------------------------------
Sample Gold Silver Width
No. gm/tonne gm/tonne m
---------------------------------
105609 1.7 149 1.2
---------------------------------
105610 1.07 83 3.0
---------------------------------
105611 0.76 58 1.0
---------------------------------
105612 1.34 97 3.0
---------------------------------
105613 1.11 98 3.0
---------------------------------
105614 0.91 58 3.0
---------------------------------
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 +1(604)-685-3764 (FAX)
jps@goldengoliath.com www.goldengoliath.com
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