Proactiveinvestors recommends
Additional Information
Market: TSX-V
Sector: Gold Mining
EPIC: GNG
Latest Price: 0.16  (-3.13% Descending)
52-week High: 0.45
52-week Low: 0.15
Market Cap: 14.29M
1 year chart
digital-look imported chart image
1 day chart
digital-look imported chart image
Golden Goliath
www.goldengoliath.com

Golden Goliath Resources Ltd. is a junior exploration company focused on exploring and developing the gold and silver potential of an historic mining camp located in the world famous Sierra Madre Occidental Mountains of northwestern Mexico. Unlike most juniors, which have an option to earn an interest in a single property or a few scattered properties in various areas or countries, Golden Goliath controls an entire old mining camp, or district, that covers an area of 15 by 25 kilometres, with numerous past producing gold and silver mines dating back to the time of the Spaniards. Golden Goliath’s Uruachic claims are owned 100% by the Company and are fully paid for with no property option or purchase payments to make.

Full Golden Goliath profile here
Pdf

Golden Goliath drills high-grade gold-silver at depth on Las Bolas in Mexico

19th Jan 2011, 5:42 pm
Golden Goliath drills high-grade gold-silver at depth on Las Bolas in Mexico

Junior explorer Golden Goliath Resources (TSX-V: GNG)(PINK SHEETS: GGTH-F) said Wednesday that recent drilling at the company's Las Bolas/Los Hilos gold-silver project in Mexico uncovered high-grade mineralization at depth below the Las Bolas tunnel.

The drilling at Las Bolas was designed to expand the existing resource and define the extent of other known mineralized areas that were not previously included in the company's NI 43-101 compliant report.

Highlights of the drilling include hole C-3-10, which intersected 7,170 g/t silver and 0.25 g/t gold over 0.65m (119.6 g/t gold equivalent), overlain by a wider zone of 0.38 g/t gold and 10 g/t silver over 37m.

Meanwhile, drill hole C-6-10 returned 230 g/t silver and 0.68 g/t gold over 2.40m (4.51 g/t gold equivalent), including 569 g/t silver and 1.29 g/t gold over 0.75m (10.77 g/t Gold equivalent).

The company said that the intersection of high grade mineralization on the Corazon trend, below the lowest level of the Las Bolas tunnel, shows the system can expand at depth.

In addition, prior drilling returned 146.5 g/t silver over 6.10m between these drill holes, indicating that mineralization is continuous along strike and to depth.

The Corazon trend is host to part of a system of 12, east-west running, silver-gold vein systems that are believed to act as feeders to an overlying, bulk-tonnage low grade system at Los Hilos.

The 43-101 that was completed in November 2009 dealt only with the Las Bolas side of the property. The average grade for the inferred resource in that report is 434 g/t silver and 0.98 g/t gold, which at a 60:1 ratio has a gold equivalent of 8.21 g/t gold.

Golden Goliath has recently signed a letter of intent with a Mexican subsidiary of Agnico Eagle Mines regarding an a joint venture agreement for the Las Bolas/Los Hilos property.

The company has an extensive land position in the mining camp located in the Sierra Madre Occidental Mountains of northwestern Mexico. It was up more than 5% on Wednesday, trading at $0.3 as of 12:40pm EST.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.