Golden Goliath identifies silicified sediments at Kwai
2021-08-25 13:24 ET – News Release
Mr. Paul Sorbara reports
GOLDEN GOLIATH DRILLING CONTINUES WITH SILICIFIED SEDIMENTS AND ALBITIZATION FOUND ON PAKWASH FAULT TREND
Golden Goliath Resources Ltd. has provided an update the progress made during the second and third phases of the drill program on the Kwai property, which commenced in early July. Phase 1 of the 2021 drill program was completed in late March, targeting IP (induced polarization) anomalies identified on the south side of Beauregard Lake. Phase 2 started in early July with four drill holes completed around hole K21-21 on the south side of Beauregard Lake where anomalous gold values of 864 parts per billion were encountered over one metre in an altered shear zone south of the main Pakwash break (see news release of May 25, 2021). The new holes, K21-25, 26, 27 and 28 all encountered narrow shears with quartz-epidote-albite alteration and assays are pending.
Phase 3 was initiated in late July when the drill was moved just east of Beauregard Lake, along the main Pakwash break, targetting IP anomalies in deep overburden up ice of gold in till anomalies identified on the south side of Beauregard Lake in early 2020. To date three holes, K21-29, 30 and 31, have been completed. These three holes appear to cross the metamorphic boundary between the highly metamorphosed English River rocks to the south and the greenshist phases Uchi rocks to the north. At the boundary and on the Uchi side the holes encountered a new sedimentary zone 100 metres to 170 metres wide in contact with a regional basalt marker. The interval contains three bands of intensely silicified bedded sediments, which are overprinted with albite, epidote and potassic alteration with disseminated pyrite. This interval is similar in appearance to units discovered on the Great Bear Dixie property. The sediment package on the Dixie property occurs between a basalt to the south and the LP zone and contains gold values (see GBR NR with cross sections).
The drill has now moved a further 200 metres eastward to line 34E where hole K21-32 is under way. Further eastward stepouts are planned to lines 36E, 39E and 41E for a strike length of 1,300 metres.
Drill hole K21-32 is now in progress with a target depth of about 200 metres. There are approximately 1,400 metres remaining to be drilled in this 3,000-metre program.
Assays are pending for all holes with assay labs being jammed to capacity during these active times. All samples are being assayed with a 30-gram fire assay for gold. Multielement analysis is also being done to search for pathfinder elements.
Golden Goliath chief executive officer Paul Sorbara, PGeo, comments: “We are excited about finding alteration and similar stratigraphic units that occur on the GBR Dixie property. For some time we have felt that the Kwai property covers the south flank of a regional fold that repeats the geology of the Dixie property.”
Quality assurance/quality control
All the gold values reported in this round of drilling were obtained by fire assaying 30-gram samples. Blank and standards were inserted into the sample stream alternating at 25-metre intervals.
About Golden Goliath Resources Ltd.
Golden Goliath 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-per-cent interest in the San Timoteo property, located in the Sierra Madre Occidental mountains of northwestern Mexico, as well as net smelter return royalties on several other nearby properties.
We seek Safe Harbor.
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