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Be the first with the news that moves the market- Golden Goliath (TSXV:GNG) has begun an exploration program at its Manicouagan critical minerals rare earth elements (REE) project in Québec
- Golden Goliath’s geological team has now mobilized to the area and has engaged with geological and geochemical fieldwork on the Ernest property on the project
- The Bedard and Citadelle prospects are also associated with circular magnetic features that may also be related to the anomalous REE values
- Golden Goliath Resources Ltd. opened trading at $0.09 per share
Golden Goliath (TSXV:GNG) has begun an exploration program at its Manicouagan critical minerals rare earth elements (REE) project in Québec.
Golden Goliath’s geological team has now mobilized to the area and has engaged with geological and geochemical fieldwork on the Ernest property on the project. Ernest was found to have very good access and exposure.
The Manicouagan Project is made up of four properties covering anomalous REE occurrences just to the south of the Manicouagan impact crater. The team’s initial program will consist of ground geophysics, geology, and geochemistry to identify the source of lake sediment anomalies and to assess previous anomalous rock samples and the circular magnetic features found on some of the properties.
The Bedard and Citadelle prospects are also associated with certain magnetic features believed to be related to the anomalous REE values.
The anomalous values are from lake sediment sampling and limited rock sampling conducted by the Ministère des Ressources naturelles et des Forêts. The properties cover areas with anomalous values in key REEs; Cerium, Lanthanum, Neodymium, Praseodymium and Rubidium.
Golden Goliath CEO Paul Sorbara said in a news release that initial reports bode good news for the company.
“Field work is expected to continue into September and I look forward to visiting the properties myself. This area is underexplored, has excellent potential for critical minerals such as REEs and has very good road access and infrastructure, including a hydro power station. Personally, I find the impact crater proximity very interesting,” Sorbara said in a statement. “Rim collapse features of the Manicouagan Impact Crater are known to extend for a 60 km radius, and we are within that zone. I think that the circular mag features, which are characteristic of some REE deposits including carbonatites, may be related to intrusions or other features at depth related to the impact event. There even happens to be another REE property related to an impact crater in Labrador, called Crater Lake, and they are building a significant resource.”
Golden Goliath Resources Ltd. is focused on exploring and developing the gold and silver potential of Ontario’s Red Lake District. The company also holds a 100-per-cent interest in the San Timoteo Property in Mexico’s Sierra Madre Occidental Mountains, as well as NSR royalties on several other nearby properties.
Golden Goliath Resources Ltd. opened trading at $0.09 per share.
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