Business
Golden Goliath Commissions Airborne Geophysical Survey For Red Lake, Kwai Property
Vancouver, British Columbia--(Newsfile Corp. - December 23, 2019) - Golden Goliath Resources L...
About this update from Golden Goliath Resources Ltd.
[{"type":"text","content":"Golden Goliath Commissions Airborne Geophysical Survey For Red Lake, Kwai PropertyVancouver, British Columbia--(Newsfile Corp. - December 23, 2019) - Golden Goliath Resources Ltd. (TSXV: GNG ) (OTC: GGTHF) (FSE: GGZ). The Company is very pleased to announce that it has now signed a contract with Terraquest Ltd. for an airborne geophysical survey to cover its Kwai property in the Red Lake Mining District. Previous geophysical surveys were conducted on Kwai in the summer of 2019 on two cut line grids located in the central and western parts of the property. These surveys identified excellent drill targets, even though the grids only covered a small portion of the property. The new TNT showing discovery (BTU Press Release dated December 16th, 2019) by BTU Metals, which appears to be the stringer zone of a volcanogenic massive sulphide deposit, shows the potential of the district to host a type of deposit not found in the Red Lake District to date. The TNT showing lies about 3.5 km NE of the eastern end of the Kwai property is coincident with a magnetic low that trends south and then turns west and crosses the Kwai property (Fig. 2) The Golden Goliath airborne survey is designed to follow that trend across the entire property.R.S. Middleton P.Eng., consulting geophysicist and member of the Golden Goliath Advisory Board, had the following comments:\"The major fault and shear structure that traverses the KWAI property is defined by a magnetic low which in part may indicate alteration along this shear structure. This magnetic low continues east of the Kwai property and then swings north to join a large magnetic low that is associated with the TNT Discovery of BTU Resources. It is possible that these regional structures may be acting as a conduit for mineralizing fluids or may have been part of a syn-volcanic fault system that controlled the emplacement of volcanogenic massive sulphides and associated stringer zones. In any case the structure on the Kwai property appears to be an importnat control for mineralization and this is backed up by the ground IP and Resistivity data. Shear hosted gold mineralization may also be a target along this shear-fault structure as has been recently reported by Great Bear Resources on the Dixie Lake property approximately 9 kilometers to the north of the Kwai property .\"\"By doing a detailed, close line...