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Market: TSX-V
Sector: Gold Mining
EPIC: GNG
Latest Price: 0.14  (-9.68% Descending)
52-week High: 0.45
52-week Low: 0.14
Market Cap: 12.91M
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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.

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Golden Goliath drilling finds widespread disseminated gold mineralization at Las Bolas project

14th Sep 2010, 7:22 pm
Golden Goliath drilling finds widespread disseminated gold mineralization at Las Bolas project

Junior exploration company Golden Goliath Resources' (TSX-V:GNG) (US:GGTH-F) diamond drilling program on its Las Bolas - Los Hilos project in northwestern Mexico is progressing well, it said Tuesday, indicating a wide spread zone of disseminated gold mineralization.

The two part, 4,000 metre program began in July with surface diamond drilling in the Los Hilos area, after which drilling will begin in the Las Bolas region.

The drilling program is designed to increase the existing inferred resource, to substantiate the previously estimated potential target of the 12 known vein systems in the western portion of the property, and evaluate at depth the rapidly developing open pit potential of the Filo de Oro trend and target the high grade veins.

Highlights of the drilling program include hole LH-21, which has 151m of 0.25 g/t gold in Filo de Oro, and is open to depth and along strike.

Other finds include hole LH-18, which was drilled 650m south of the Los Hilos tunnel to test a high-grade breccia on surface that had returned 8g/t Au in historic sampling, said Golden Goliath.

Two wide zones of disseminated gold mineralization of 0.22 g/t over 22.4m & 0.20 g/t over 30.1m were encountered in this drill hole.

"The current drilling, especially LH-18, LH-21, indicate that we are sitting on top of a large mineralized system and further deeper exploration of this system is essential to realize its full dimensions," the company said in a statement.

The area north of the Los Hilos tunnel is now being tested and the first hole in this zone, located approximately 700m north of the tunnel, has intersected mineralization, but assays are still pending.

Mineralization in the Filo de Oro zone is hosted in a felsic rock sitting on top of higher grade zones. The current drilling has not only confirmed mineralization in the zone, but has also proven that the disseminated gold mineralization sits on top of high grade silver veins below over a wide area.

The upper parts of holes LH-02 and LH-03 also have disseminated gold mineralization in the felsic rocks. LH-02 drilled a wide zone of 138 g/t Ag, 0.11 g/t Au over 16.35m, including 343 g/t Ag and 0.12 g/t Au over 4m, while LH-03 intersected the same vein system 55m to the east, with high grade sections such as 286 g/t Ag over 6.05m, including 485g/t Ag over 3.5m.

Golden Goliath is focused on exploring and developing the gold and silver potential of an historic mining camp located in the Sierra Madre Occidental Mountains of northwestern Mexico.

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