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Additional Information
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 drills 130m of 0.34g/t gold at Los Hilos in Mexico

18th Oct 2010, 8:09 pm
Golden Goliath drills 130m of 0.34g/t gold at Los Hilos in Mexico

Junior explorer Golden Goliath Resources (TSX.V:GNG) (US:GGTH-F) said Monday that it has completed 23 drill holes on its Las Bolas-Los Hilos property in the Uruachic mining district in northwestern Mexico, with the Filo de Oro target returning 130m of 0.34g/t gold.

The 4,000 metre drill program began in July, with surface diamond drilling in the Los Hilos area. To date, 23 of 24 planned holes for the Los Hilos area have been completed. Drilling in the Las Bolas area will begin as soon as Los Hilos is completed, with an additional 8 to 10 holes.

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

Hole LH-19 returned 130m of 0.34 g/t Au in Filo de Oro, including 68.8m of 0.51 g/t Au.

LH-06C, starting at surface, averaged 47.6m of 1.61 g/t Au and 13 g/t Ag, including 17.5m of 2.12 g/t Au and 20 g/t Ag, with a high grade section of 2.85m of 4.58 g/t Au and 31g/t Ag.

From surface, hole LH-06A returned 28.3m of 0.89 g/t Au and 17 g/t Ag, while drill hole LH-10 averaged 22.6m of 0.32 g/t Au & 9 g/t Ag.

"The ongoing drilling has confirmed that mineralization is present in both disseminated and high-grade-veins. Drilling to date has discovered wide spread disseminated gold mineralization over a 1360m area extending both to the north and south of the Los Hilos tunnel. Filo de Oro North zone is about 700m to the north of the Los Hilos tunnel," the company said in a statement.

LH-10 was the fist-ever hole drilled in the Filo de Oro North Zone. Follow up drill hole, LH-24, testing the down-dip extension, returned higher grades than LH-10, indicating the grade is increasing at depth, the company said.

The company has drilled a total of 23 drill holes totaling 3,314 m to-date on the Los Hilos property, of which it has the released the results for 17 holes.

Golden Goliath is focused on exploring and developing the gold and silver potential of a historic mining camp located in the Sierra Madre Occidental Mountains of northwestern Mexico. Golden Goliath’s Uruachic claims are owned 100% by the company.

The company was down more than 4% on Monday at $0.22 as of 2:49pm ET.

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