Golden Goliath Resources Ltd.: Orito Zone Returns 42.10m of 1.81 g/t Gold Equivalent From Surface
17 November 2010 - 4:30AM
Marketwired
Golden Goliath Resources Ltd. (TSX VENTURE: GNG)(PINK SHEETS:
GGTH-F) -
Highlights
-- DRILL HOLE LH-20 RETURNED, FROM SURFACE, 42.10M of 1.81 G/T GOLD
EQUIVALENT(a)
-- SILICOSA ZONE, 330M NORTH OF ORITO ZONE, RETURNED 22.4M OF 1.40 GOLD
EQUIVALENT(a)
Wide zones of mineralization continue to be intersected at Orito
confirming the bulk tonnage open pit potential of the area. Two
drill holes were also completed in a new area, the Silicosa Zone,
where encouraging results were received from underground sampling
in two old workings announced in a May 6, 2010 news release.
(i) ORITO ZONE:
Following up on the two drill holes 100m apart at Orito, the
Company completed drilling between these holes to test the
north-west structure as well as confirm the continuity of the
mineralization and grade. As with the prior drilling, the entire
core was mineralized and the mineralization is open in all
directions.
--------------------------------------------------------------------------
ORITO ZONE
--------------------------------------------------------------------------
Gold
Drill From To Width Gold Silver Eq.
Hole (m) (m) (m) g/t g/t (a) Comments
--------------------------------------------------------------------------
LH-14 0 44.25 44.25 0.752 72 1.95 g/t Previously
released
--------------------------------------------------------------------------
LH-15 0 51.85 51.85 0.41 42 1.11 g/t Previously
released
--------------------------------------------------------------------------
LH-20 0 42.10 42.10 0.91 54 1.81 g/t
--------------------------------------------------------------------------
Including
--------------------------------------------------------------------------
LH-20 8.55 9.4 0.85 9.65 130 11.82 g/t
--------------------------------------------------------------------------
(a) Gold Equivalent = gold + Silver/60
A 60m step out drill hole to the east of LH-20 has been
completed. This step out drill-hole has been logged and is pending
assays.
The drilling at the Orito Zone has verified the geological model
of mineralization being hosted in both north-westerly and
north-easterly trending structures. LH-14 and LH-15 tested the
north-westerly structures and L-20 tested the north-easterly
structures. The confluence of these structures is a zone of
higher-grade mineralization. The mineralization is continuous at
depth and along strike and seems amenable to open pit mining. The
Los Hilos Tunnel is just 250m to the east while the Las Bolas
Tunnel is just 780m northwest of Orito. Please refer to the plan
map for drill hole locations.
(ii) SILICOSA ZONE:
The Silicosis Zone lies 330m north of the Orito Zone. Two drill
holes were completed 180m apart to test for north-easterly
structures identified in two old workings in the area previously
announced in a May 6, 2010 news release. Mineralization is open in
all directions.
-------------------------------------------------------------
SILICOSA
-------------------------------------------------------------
Gold
Drill From To Width Gold Silver Eq.
Hole (m) (m) (m) g/t g/t (a)
-------------------------------------------------------------
LH-16 2.25 24.65 22.4 0.46 56 1.40 g/t
-------------------------------------------------------------
Including
-------------------------------------------------------------
24.1 24.65 0.55 2.31 308 7.44 g/t
-------------------------------------------------------------
41.55 50.7 9.15 0.28 36 0.88 g/t
-----------------------------------------------------
70.35 77.2 6.85 0.33 52 1.20 g/t
LH-16 -----------------------------------------------------
90.2 97.1 6.90 0.28 42 0.98 g/t
-----------------------------------------------------
148.6 154.8 6.2 0.45 10 0.61 g/t
-------------------------------------------------------------
LH-17 11 44.4 33.4 0.22 30 0.72 g/t
-------------------------------------------------------------
(a) Gold Equivalent = gold + Silver/60
Paul Sorbara, Company President & CEO, commented on the
current drill program, "We have just tapped into a near surface
low-grade bulk, presumably bulk minable gold-silver mineralized
system and we are looking forward to systematically drilling it in
the next phase of the drill program to increase our existing
mineral inventory."
Based on the Company's work, Filo de Oro has two components. A
large, near surface zone up to 540 metres in width and
approximately 230 metres thick, which overlies near-vertical
higher-grade-vein feeder zones that are beneath and cut through the
surface zone. The roughly north-south Filo de Oro trend is a
topographic high located at the east end of the east-west Las
Bolas, Frijolar and Corazon trends. These three east-west trends
host the other 12 known vein systems on the Las Bolas property and
the main Las Bolas Mine workings which were the focus of the NI
43-101 report completed last fall.
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 and approved 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.
To view the map accompanying this press release please click on
the following link:
http://media3.marketwire.com/docs/GNG1116.pdf
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news
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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