Vancouver, British Columbia--(Newsfile Corp. - July 27, 2022) - Golden Goliath Resources Ltd. (TSXV: GNG ) (OTC Pink: GGTHF) (FSE: GGZ). Golden Goliath Resources has received results of the Phase 1 work program on their Wish Ore prospect. The program of prospecting and geological mapping provided the follow up to the 2021 airborne geophysical survey.
Figure 1: Geological Interpretation Phase I update
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Two trends of mineralization and anomalous gold values have been located. The northern trend adjacent to the northeast trending Carp River fault is associated with sheared and iron carbonate altered intermediate to mafic volcanics in contact with banded iron formation. The southern trend is parallel and hosts the high strain zone with associated quartz iron carbonate alteration of the intermediate to mafic volcanics.
High gold values identified previously seem to occur localized within these two trends. Based on the geological mapping we believe there are previously unrecognized structural controls associated with the high gold values.
Results from Phase 1 returned numerous anomalous gold values. The highest rock sample value was 160 ppb. Analysis of the Geochem data set is ongoing to identify gold vectors that may assist the understanding of these structural controls. Plans for a preliminary drill program to test the known gold showings are currently being reviewed.
Figure 2: Au:Cu ratios for assay results from Geochem database greater than 25ppb Au
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Golden Goliath CEO Paul Sorbara said, "We have confirmed the continuity of the main structures and alteration. With our growing data set we are looking to understand the controls for the gold mineralization and plan our 2022 Phase 2 program. The preliminary drill program presently under review will provide a view of the third dimension of the known showings and should provide a better understanding of the controls on the gold mineralization."
This news release has been reviewed by Gordon MacKay, P.Geo. who is acting as QP under the NI 43-101 requirements.
On behalf of the Board of Directors
Paul Sorbara, MSc, PGeo
CEO, Golden Goliath Resources Ltd.
About Golden Goliath
Golden Goliath Resources Ltd. is a junior exploration company listed on the TSX Venture Exchange (symbol GNG). The Company is focused on exploring and developing the gold and silver potential of properties in the Red Lake District of Ontario. The Company also holds a 100% interest in the San Timoteo property, located in the Sierra Madre Occidental Mountains of northwestern Mexico, as well as NSR royalties on several other nearby properties.
To find out more about Golden Goliath visit our website at www.goldengoliath.com.
Cautionary Statements Regarding Forward Looking Information
Certain statements included herein may constitute "forward-looking statements". All statements included in this press release that address future events, conditions or results, including in connection with exploration activity, future acquisitions and any financing, are forward-looking statements. These forward-looking statements can be identified by the use of words such as "may", "must", "plan", "believe", "expect", "estimate", "think", "continue", "should", "will", "could", "intend", "anticipate" or "future" or the negative forms thereof or similar variations. These forward-looking statements are based on certain assumptions and analyses made by management in light of their experiences and their perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate in the circumstances. These statements are subject to risks, uncertainties and assumptions, including those mentioned in the Company's continuous disclosure documents, which can be found under its profile on SEDAR (www.sedar.com). Many of such risks and uncertainties are outside the control of the Company and could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In making such forward-looking statements, management has relied upon a number of material factors and assumptions, on the basis of currently available information, for which there is no insurance that such information will prove accurate. All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
FOR MORE INFORMATION CONTACT:
Golden Goliath Resources Ltd.
J. Paul Sorbara, M.Sc., P.Geo
President & CEO
Phone: +1(604) 682-2950 Email: jps@goldengoliath.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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