Vancouver, Canada, October 31, 2017
Golden Goliath Resources Ltd. (TSX.V: GNG) (US:GGTH-F)
The Company is pleased to announce that it has now received the preliminary report from the 2017 work program on its 100% owned San Timoteo property, located in Chihuahua, Mexico. The program was carried out by a very experienced, independent consulting geologist with intimate knowledge of the property. The program was an expansion of the work conducted in 2016, but with a focus on structural geology and mineralization. It was designed to strengthen and increase the number of drill targets to be tested in the next major drilling program that will include surface and underground drilling to test targets property wide.
This extensive review of all property data concluded that there are several strong systems of mineralized structures across the San Timoteo property, principally controlled by faults and fractures. Mineral associations include Au – Zn, Au – Ag – Pb – Zn and Cu – Au. Apart from the already defined gold and silver targets in the Old San Martin Level 5 tunnel, the work also identified the potential for a Copper – Gold porphyry system beneath an area call La Bufa. Early drilling in the La Bufa area showed increasing gold and copper grades with depth, but deeper drilling was not conducted at the time.
Excellent drill targets have already been defined by geochemistry in the 500 meter long Number 5 level of the past producing San Martin mine, which is located on the San Timoteo property. Extensive underground rock, chip and channel samples defined three well mineralized shoots, as well as a mineralized “manto” or blanket horizon, exposed within the tunnel. The current structural geology study of this area will help guide the next round of drilling.