Sierra Madre - Mexico
Identify and develop the Gold & Silver potential. - Agnico Eagle Mines holds 14.5 %
Message: More High Grade Gold and Silver Results at Las Bolas
| April 28, 2009 | |
| Golden Goliath Resources Ltd.: More High Grade Gold and Silver Results at Las Bolas | |
|
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 28, 2009) - Golden Goliath Resources Ltd. (TSX VENTURE:GNG)(PINK SHEETS:GGTH-F) is very pleased to announce that assays from recent infill underground chip sampling of the Station 37 area within the old Las Bolas mine tunnel have now been received. The recently assayed samples have returned gold values as high as 51.2 grams/tonne gold over 0.75 metres, and as high as 2,300 grams/tonne silver over 1.2 metres. This infill chip sampling and detailed 1:50 scale geologic mapping program, along with other work recommended by the independent consultant responsible for the 43-101 compliant resource estimation, is designed to increase sampling density resulting in geological and grade continuity confidence. This type of data will be used to document mineral values for a select number of Golden Goliath's exploration projects within the 100% owned Uruachic Camp. In addition to the infill sampling program, Golden Goliath's exploration team has been completing highly detailed 1:50 scale maps of the Las Bolas tunnel at the request of the independent consultant administering the inventory report. There have been a total of 65 new chip samples collected from Station 37) and it is important to note that these assay results are not repeats of previous chip samples, but comprise new information. The assay results, like those recently released from Station 19, show the presence of high grade silver and gold mineralization not only in the structure, but in its hangingwall and footwall as well. Station 37, and the previously announced Station 19, occur on the northeast trending Las Bolas vein structure and are believed to be high grade mineralized shoots along the trace of the structure. The Las Bolas project is believed to be comprised of several en-echelon vein structures of undetermined extent. The vein structures are named Las Bolas - Gambusino, Frijolar, Guadalupana, El Corazon. In addition, the El Manto zone, which follows the contact of andesitic rocks above and metamorphic rocks below, is believed to be a flat lying zone. Station 37 is approximately 200 metres further along the Las Bolas workings than Station 19. The main portion of Station 19 covers a length of approximately 45 metres in the Las Bolas tunnel, and is approximately 60 metres below the surface. The recent results from stations 19 and 37, along with reverse circulation drill hole B-04-3, (154 grams/tonne silver with 3.22 gms gold/tonne 12.3 metres, including 515 gms/tonne silver and 11.1 gms gold/tonne over 3.1 metres), clearly show that this is a substantial zone, over 200 metres long, containing much higher gold values. Additional drilling will be needed to test the extent of this zone to depth and along strike. The weighted average of 41 of the chip samples taken across a 30.6 metre extent of Station 37 is 4.70 grams/tonne gold and 486 grams/tonne silver across an average width of 2.02 metres. Within this zone is an 11 metre section with a weighted average of 15.27 grams gold/tonne and 698 grams silver/tonne over an average width of 2.65 metres. In addition samples 457 to 462 represent a continuous series of samples averaging 22.18 gms gold/tonne and 576 grams silver/tonne over 6.89 metres. The Company is extremely pleased with these results, which are tabulated below, as they will have a positive impact on the resource calculation. --------------------------------------------------------------------------
Weighted
Zone FW(ii) HW(iii) Gold Silver Width Average
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Gold Silver
Sample gms/ gms/ gms/ gms/
Number (cm)(i) (cm) (cm) tonne tonne (metres) tonne tonne
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584448 60 0.2 244
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584449 150 0.24 329
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584450 50 0.08 154 2.6 0.20 276
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584451 50 0.27 156
--------------------------------------------------
584452 200 0.4 667
--------------------------------------------------
584453 50 0.2 237 3 0.35 510
--------------------------------------------------------------------------
584454 100 3.63 122
--------------------------------------------------
584455 120 0.84 2300
--------------------------------------------------
584456 30 0.87 1220 2.5 1.96 1,299
--------------------------------------------------------------------------
584457 70 1.44 240
--------------------------------------------------
584458 74 0.2 162
--------------------------------------------------
584459 300 37.2 1170 4.44 25.40 855
--------------------------------------------------------------------------
584460 75 51.2 223
--------------------------------------------------
584461 90 0.44 52
--------------------------------------------------
584462 80 1.56 19 2.45 16.34 94
--------------------------------------------------------------------------
584463 50 0.25 35
--------------------------------------------------
584464 70 5.62 150 1.2 3.38 102
--------------------------------------------------------------------------
584465 60 0.08 46
--------------------------------------------------
584466 90 0.12 291
--------------------------------------------------
584467 70 0.28 74 2.2 0.16 155
--------------------------------------------------------------------------
584468 75 0.08 43
--------------------------------------------------
584469 90 0.4 1320 1.65 0.25 740
--------------------------------------------------------------------------
584470 90 0.08 255
--------------------------------------------------
584471 90 0.19 522 1.8 0.14 389
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584472 60 0.05 492
--------------------------------------------------
584473 125 0.32 866 1.85 0.23 745
--------------------------------------------------------------------------
584474 100 0.52 158 1 0.52 158
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584475 60 2.03 48
--------------------------------------------------
584476 75 0.2 18 1.35 1.01 31
--------------------------------------------------------------------------
584477 50 0.24 21
--------------------------------------------------
584478 65 2.94 61 1.15 1.77 44
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584479 100 0.2 54 1 0.20 54
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584480 80 1.15 925
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584481 90 1.46 1585
--------------------------------------------------
584482 110 0.15 136 2.8 0.86 827
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584483 60 0.38 121
--------------------------------------------------
584484 105 1.81 592
--------------------------------------------------
584485 60 0.29 180 2.25 1.02 357
--------------------------------------------------------------------------
584486 100 0.19 358 1 0.19 358
--------------------------------------------------------------------------
584487 112 0.19 221
--------------------------------------------------
584488 95 0.05 34 2.07 0.13 135
--------------------------------------------------------------------------
584489 66 0.08 13
--------------------------------------------------
584490 90 0.08 5 1.56 0.08 8
--------------------------------------------------------------------------
584491 94 0.05 26 0.94 0.05 26
--------------------------------------------------------------------------
584492 110 0.08 201 1.10 0.08 201
--------------------------------------------------------------------------
584493 59 0.1 91
--------------------------------------------------
584494 64 0.05 5 1.23 0.07 46
--------------------------------------------------------------------------
584495 68 0.1 230
--------------------------------------------------
584496 48 0.08 8 1.16 0.09 138
--------------------------------------------------------------------------
584497 75 0.08 34
--------------------------------------------------
584498 65 0.28 142 1.4 0.17 84
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584499 100 0.05 16 1 0.05 16
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584500 30 0.06 10 0.3 0.06 10
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105435 100 0.05 5
--------------------------------------------------
105436 100 0.05 5 2 0.05 5
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105437 85 0.05 5 0.85 0.05 5
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105438 103 0.05 5 1.03 0.05 5
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105439 55 0.05 5
--------------------------------------------------
105440 65 0.21 121 1.2 0.13 68
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105441 50 0.08 19
--------------------------------------------------
105442 50 0.47 54 1 0.28 37
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105443 38 0.05 95
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105444 50 0.05 12 0.88 0.05 48
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105445 60 0.05 16
--------------------------------------------------
105446 70 0.08 53 1.3 0.07 36
--------------------------------------------------------------------------
(cm(i)) equals centimeter, FW(ii) equals Footwall, HW(iii) equals
Hangingwall
About Golden Goliath Golden Goliath Resources Ltd. is a junior exploration company listed on the TSX Venture Exchange (symbol GNG). Assays are done using traditional methods at Inspectorate Labs and Chemex Labs. 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. Unlike most juniors, which have an option to earn an interest in a single property or a few scattered properties in various areas or countries, Golden Goliath controls an entire old mining camp, or district, that covers an area of 15 by 25 kilometres, with numerous past producing gold and silver mines dating back to the time of the Spaniards. 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. |
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