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Be the first with the news that moves the market- Following a completed till sampling program, Golden Goliath Resources (GNG) has reported pristine gold grains from its Kwai property in Ontario
- 24 basal samples were recovered and sent to Overburden Drilling Management in Ottawa for analysis
- All samples yielded gold grains, with 17 containing gold grains that point to nearby gold mineralisation
- Soil sampling assays were also received, which identified scattered indicator pathfinder elements
- Golden Goliath Resources (GNG) is up 18.42 per cent and is trading at C$0.22 per share
Following a completed till sampling program, Golden Goliath Resources (GNG) has reported pristine gold grains from 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.
Over the course of the program, Golden Goliath focused 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.
Notably, the most significant concentrations of gold grains were shown to correspond to induce polarisation (IP) anomalies that were discovered in 2019 on the west grid. However, a number of till sites also correspond with IP anomalies in the eastern grid, primarily along major faults found in siliceous tuffs and sediments flanking a basalt marker.
Soil sampling assays were also recently received, which identified scattered indicator pathfinder elements in fine soil. These elements include arsenic, antimony, copper, bismuth, lead, molybdenum, vanadium, and tungsten.
Paul Sorbara, CEO of Golden Goliath Resources, said the till staples offer further proof that the property has very good geology, structure and targets.
“It will be exciting to see what the 2020 IP survey shows and how it correlates with the till geochemistry.
“We also have much better understanding of the geology and we are very happy about our situation, as we prepare for the drill phase. Ground truthing of the newly identified IP anomalies will occur before final drill site selection,” he said.
Golden Goliath Resources (GNG) is up 18.42 per cent and is trading at C$0.22 per share at 1:43pm EDT.
