- Golden Goliath Resources (GNG) has completed the first drill program on its Kwai Property, located in the Red Lake mining district
- A total of 7646 meters of NQ drilling in 35 holes was completed in 5 stages starting in September of 2020
- The company is currently analyzing all the data that has been collected in order to develop the next stages of exploration
- Golden Goliath is an exploration company focused on exploring and developing the gold and silver potential of properties in the Red Lake District of Ontario
- Golden Goliath Resources Ltd. (GNG) is down 7.7 per cent, trading at C$0.06 per share at 11:30 am ET
Golden Goliath Resources (GNG) has completed the first drill program on its Kwai Property, located in the Red Lake mining district.
A total of 7646 meters of NQ drilling in 35 holes was completed in 5 stages starting in September of 2020. The program was designed to test IP and till geochem anomalies associated with the Pakwash fault structure. Results for the first 28 holes have been previously released and the assays for the last 7 holes have now been received. This was the first drill program to ever test this very prospective structure in an area of significant overburden.
The Pakwash fault is a very deep-seated structure that forms the boundary between the Uchi greenstone belt to the north and the English River metasediments to the south.
The company is currently analyzing all the data that has been collected in order to develop the next stages of exploration.
Golden Goliath CEO, Paul Sorbara, PGeo, commented on the project.
“Our learning curve on this project continues to be quite steep. We expected to find the source of the gold in basal till anomalies in this first drill program, but that was not to be. We are however very encouraged by the geology and alteration. We are in the right rocks and the right type of environment and we plan to continue and find the gold source. The grades in Red Lake increase with depth and all of our holes are shallow and most of the East Grid targets remain untested. We are analyzing the data and will soon have follow-up plans.”
Golden Goliath is an exploration company 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 per cent 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.
Golden Goliath Resources Ltd. (GNG) is down 7.7 per cent, trading at C$0.06 per share at 11:30 am ET.
