Market Herald logo


Be the first with the news that moves the market
  • Golden Goliath Resources (GNG) has received permit approval for a proposed drill program at its Kwai property in Ontario
  • The approval relates to a number of newly generated drill targets, for which all of the planned holes are now permitted
  • It follows an earlier till sampling program at the property, which returned pristine gold grains
  • The program is scheduled to begin on September 8 this year
  • Golden Goliath Resources (GNG) is currently steady at C$0.24 per share

Golden Goliath Resources (GNG) has received permit approval for a proposed drill program at its Kwai property in Ontario.

Located in the province’s prolific Red Lake Mining District, local geology at the Kwai property is thought to share the style of mineralisation as that found at Goldcorp’s Eleonore deposit in northern Quebec, which is estimated to have a total resource of 35.22 million tonnes at 6.3 grams per tonne of gold.

The approval relates to a number of recently generated drill targets at the property, for which all of the planned drill holes have now been successfully permitted.

Paul Sorbara, CEO of Golden Goliath Resources, said that, prior to the commencement of the drill program on September 8 this year, the company intends to carry out additional surface exploration work in support of drilling activities.

“We were able to use the short window of extra time not only to do some more stripping in a newly uncovered zone, but we were also able to get three more till samples south of the lake, between the West and East grids, where we have several interesting IP anomalies along additional shears.

“One of the till samples is rusty and that could be very important as it may be related to a nearby sulphide source. I am very curious to see if it has pristine gold grains,” he added.

Golden Goliath completed a separate till sampling program in early July this year, focusing on a 10 kilometre length of the Kwai property which covered several regions associated with the Pakwash Fault. A total of 24 till basal samples were collected and sent to Overburden Drilling Management in Ottawa, Ontario, for analysis.

The company received the results on July 6, all of which yielded gold grains. 17 of the 24 samples contained pristine gold grains, which point to nearby gold mineralisation.

Golden Goliath Resources (GNG) is holding steady at C$0.24 per share, as of 11:03am EDT.

More From The Market Herald

" Puma Exploration (TSXV:PUMA) confirms mineralization

Puma Exploration (PUMA) is confirming mineralization at its Williams Brook Gold Project in Northern New Brunswick.
Flying Nickel Mining

" Flying Nickel (TSXV:FLYN) confirms platinum, palladium, gold mineralization

Flying Nickel Mining (FLYN) is confirming, it uncovered gold mineralization from the most-recent drill program on its Minago Nickel PGM Project.

" Tartisan Nickel (CSE:TN) advancing deposit

Tartisan Nickel (TN) is expanding the mineral deposit at its Kenbridge Nickel Deposit in Ontario.

" Tower Resources (TSXV:TWR) reports first assay results from Rabbit North property

Tower Resources (TWR) reports first assay results from its Rabbit North Property in British Columbia.