Golden Goliath still waiting for Pakwash drill results

May 5, 2021

2021-05-04 13:48 ET – News Release

 

Mr. Paul Sorbara reports

GOLDEN GOLIATH EXPLORATION CONTINUES TO FOLLOW NEW GEOLOGY UNITS ON PAKWASH FAULT

Golden Goliath Resources Ltd. has provided an update.

Recent drilling with holes K21-22 & 23 has discovered felsic volcanics that are altered and sheared parallel to a VMS massive sulphide zone. These rocks have never been seen before along the Pakwash Fault and occur in an unexplored section of the Fault along the north shore of Beauregard Lake, in the east bay. The Misse a la masse (MALAM) geophysical survey, which involves dropping probes down the drill holes and reading from surface and the lake bottom, is designed to search for other sulphide rich pods to the east and follow the felsic volcanics. In other gold camps these felsic rocks form an excellent host for disseminated sulphide gold bearing deposits.

At least 3,000m of drilling will follow with a few more holes along this east bay trend and then continue on to other pre designed holes on the East Grid that were to test the Pakwash trend and a parallel anomaly along the north side of the shear. Figure 1: Red Lake District Properties including the Kwai and SLF properties of Golden Goliath

The Company is still waiting for complete analytical results, including multi element data, from drill holes K21-17 to 21, which were drilled on the south side of Beauregard Lake. Also pending are results from drill holes K21-22, 23 & 24, which were drilled on the north side of the lake. These holes are all within the estimated source range for the numerous gold-in-basal-till samples found on the west grid (See figure 2). That gold source is the Company’s target. The multi element data is very important for the spotting of the next holes. Drilling is now paused due to spring break up, which gives the Company time to complete the MALAM survey and receive the pending analytical data.

This news release has been reviewed by Robert S. Middleton P.Eng who is acting as QP for this phase of the exploration under the NI 43-101 requirements.

Company CEO Paul Sorbara, PGeo, comments: “Turn-around time for assay results is even slower than last Fall, but there is nothing we can do about that. It is actually fortunate that spring break up has forced a pause in drilling. It gives us time to get and interpret the valuable information needed to continue our search for the source of the numerous gold grains in till and to do the MALAM survey.”

About Golden Goliath Golden Goliath Resources Ltd. is a junior exploration company listed on the TSX Venture Exchange (symbol GNG). The Company is focused on exploring and developing the gold and silver potential of properties in the Red Lake District of Ontario. The Company also holds a 100% interest in the San Timoteo property, located in the Sierra Madre Occidental Mountains of northwestern Mexico, as well as NSR royalties on several other nearby properties.

We seek Safe Harbor.

https://www.goldengoliath.com/

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