- Golden Goliath (GNG) announced the company has discovered a new gold bearing shear zone at its Kwai – Pakwash Property
- The property is located in Red Lake, Ontario
- The company now has assay results from five drill holes that were completed earlier in May, designed to test an IP anomaly found earlier this year
- At least three thousand more meters of drilling are planned and budgeted for this year on the Kwai property
- Golden Goliath Resources is flat, trading at C$0.075 at 10:35 am ET
Golden Goliath (GNG) announced the company has discovered a new gold bearing shear zone at its Kwai – Pakwash Property.
The property is located in Red Lake, Ontario.
The Vancouver-based mineral exploration company now has assay results from five drill holes that were completed earlier in May, designed to test an IP anomaly found earlier this year.
A number of gold discoveries were made in shears in the Porcupine Camp and in Hemlo where anomalous gold occurs exceeding 300 parts per billion with the ore zones occurring within 100 metres of the anomalous value.
The values are a good guide to more mineralization.
Results for the drill holes on the north side of the lake, designed to test the Whale anomaly are not yet complete.
A follow-up drill program will be carried out in the next round of drilling with step-out holes initially at 100-metre intervals when ground conditions are favourable. At least three thousand more meters of drilling are planned and budgeted for this year on the Kwai property.
Golden Goliath 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-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 is flat, trading at C$0.075 at 10:35 am ET.
