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 - 12:16AM
Marketwired Canada
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
---------------------------------
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