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  • Golden Goliath Resources (GNG) is pleased to announce a 3,000 m drill program on the Kwai Property located in the Red Lake mining district
  • A drill is on route to the property and should start coring on July 9 or 10
  • The program will start with 6 holes on the IP anomaly trend on the south side of Beauregard Lake
  • Golden Goliath Resources is a junior exploration company focused on exploring and developing properties in the Red Lake District of Ontario
  • Golden Goliath Resources Ltd. (GNG) is down 6.67 per cent, trading at C$0.07 per share at 1:30 pm ET

Golden Goliath Resources (GNG) is pleased to announce a 3,000 m drill program on the Kwai Property.

A drill is on route to the property and should start coring on July 9 or 10. The program will start with 6 holes on the IP anomaly trend on the south side of Beauregard Lake, where hole K-21-21 intersected anomalous gold in a shear zone.

Drill hole K21-21 is the site where drilling earlier in the year on a strong, one-kilometer, IP trend produced an important gold value hosted in sericite schists with associated pyrite and minor chalcopyrite.

Project QP, RS Middleton P.Eng, points out that a number of gold discoveries have been made in shears in the Porcupine Camp and in Hemlo where anomalous gold occurs exceeding 300 ppb with the ore zones occurring within 100m of the anomalous value. These values are a good guide to more mineralization. This gold intersection occurs east of the west grid gold-in-basal- till anomalies and lie within a possible source area for the high gold grain counts in the tills (Figure 3).

Figure 1: Red Lake District Properties including the Kwai and SLF properties of Golden Goliath

The strong IP trend on the north shore of Beauregard Lake, called the Whale anomaly, was tested by three holes (K21-22, 23 & 24). Results returned anomalous Molybdenum, an important pathfinder element. Some gold values were anomalous, but most were low.

Misse a la Masse surveys have traced a conductor trend eastward from hole K-21-22 through hole K21-23 and eastward. Follow-up drilling will be conducted eastward along the Pakwash Fault and parallel trends. The felsic volcanics seen in drill hole K-21-23 are an important change to the volcanic stratigraphy along the Pakwash Fault (Figure 2).

Figure 2: Kwai 2021 Planned and Completed drill holes with local features
Figure 3: Gold Grains Probable Source Area Plot For The West Grid

All the gold values reported in this round of drilling were obtained by assaying 30 gm samples prepared at SGS Red Lake and were fire assayed. Blank and standards were inserted into the sample stream alternating at 25m intervals.

Golden Goliath Resources is a junior exploration company focused on exploring and developing properties in the Red Lake District of Ontario.

Golden Goliath Resources Ltd. (GNG) is down 6.67 per cent, trading at C$0.07 per share at 1:30 pm ET.

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