Sierra Madre - Mexico
Identify and develop the Gold & Silver potential. - Agnico Eagle Mines holds 14.5 %
Golden Goliath Resources Ltd. Vancouver, BC TSX.V : GNG. 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.
Agnico Eagle Mines holds 14.5 %
Sprott Asset Management holds 18.4 %
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.
MISSION & STRATEGY
Golden Goliath Resources Ltd.’s mission is to identify and develop new precious and base metal mineral resources in the world-famous Sierra Madre Occidental Mountains of northwestern Mexico and other adjacent areas. The historic Sierra Madre district is known for a wealth of minerals and contains numerous historic gold and silver mines dating to Spanish colonial times.
Most juniors only have an option to earn an interest in a single property or a few scattered properties in various areas or countries. In contrast, GNG already owns and controls a land package measuring 15 by 25 kilometres (8,500 hectare) that covers the past-producing Uruachic mining camp, and this is its primary mining target area.
GNG has additional properties outside of Uruachic, such as the La Cruz silver property which was optioned to Pan American Silver in September 2007, and Chamizal which was optioned to Comstock Capital in May.
GNG’s Uruachic claims are wholly owned; there are no property options or purchase payments to be made.
Geophysical and geochemical surface sampling and drilling completed since 2000, plus historic production, have convinced management of significant resource potential. GNG’s exploration strategy is to:
- Develop its portfolio of prospects
- Apply modern exploration techniques
- Seek mineralization near old workings, using surface exploration to identify targets
- Develop partnerships through option agreements with Comstock Capital Corporation
- GNG is focusing its strategy on multi-million dollar projects that will begin in 2007 and 2008. This consists of a major drilling program implemented in the spring of 2007, ramping up with three drills scheduled to be on the property by September. This will also include diamond drilling, underground rehabilitation and sampling
The Company’s other properties, both within and outside of the Sierra Madre mountain range, are being explored by joint venture partners, such as Pan American Silver and Comstock Capital Corp. GNG’s agreement with Pan American Silver’s Mexican subsidiary allows them to earn a 60% interest in the property followed by a 60/40 joint venture. Pan American can then earn another 15% by completing a feasibility study. GNG also has an agreement with Comstock Capital, which give them the right to earn a 60% interest in both the Corona and Chamizal properties. These agreements will allow GNG to focus on its own drilling programs primarily in the La Reforma, Las Bolas, San Timoteo and Las Bolas areas.
Golden Goliath’s management has a long history in Mexico and this has allowed it unique opportunities for acquiring excellent prospects at very low cost.