Business
Golden Goliath Signs Drill Contract for Kwai Property, Red Lake/Dixie Lake Area, Ontario
Vancouver, British Columbia--(Newsfile Corp. - August 6, 2020) - Golden Goliath Resources Ltd...
About this update from Golden Goliath Resources Ltd.
[{"type":"text","content":"Golden Goliath Signs Drill Contract for Kwai Property, Red Lake/Dixie Lake Area, OntarioVancouver, British Columbia--(Newsfile Corp. - August 6, 2020) - Golden Goliath Resources Ltd. (TSXV: GNG) (OTC Pink: GGTHF) (FSE: GGZ) (\"Golden Goliath\" or the \"Company\") is very pleased to announce that It has now signed a diamond drilling contract with M3 Drilling Services Inc. The Company is planning the first drill testing program on its Kwai property in the Red Lake/Dixie Lake Area. Up to 6,000 meters of drilling will be conducted on the roughly 40 targets identified to date by the company geophysicist, R.S. Middleton P. Eng. The Company is awaiting approval of a supplementary drilling permit, apart from the existing permit the Company already has, which is expected to be received by the end of August. Drilling is anticipated to begin in early September. A core handling facility has been established in Ear Falls and is now operational.In the field the IP survey on 41 lines is almost complete and should be done in 8 days. Both a N=6 and N=8 pole dipole array was used with an electrode spacing of 25m to measure the chargeability beneath a 2 to 5 metre conductive silt and clay layer that was discovered during the recent till sampling program. Figure 1To view an enhanced version of Figure 1, please visit:https://orders.newsfilecorp.com/files/4761/61206_0b3129c394ae5b62_002full.jpg Red Lake District Properties including the Kwai and SLF properties of Golden GoliathThe IP survey has successfully identified shear zones and faults using the resistivity and has located chargeable zones associated with a basalt horizon that marks the boundary between an 800m wide zone of felsic tuffs, and two other zones of shearing and chargeability within the felsic tuff sequence. A total of five major breaks or shears traverse the length of this 10 km long property. Till sampling done on both the west end and central to east end of the property discovered numerous gold grains and many pristine grains indicating a local source of gold which built up into a dispersion train that can be traced back to the two primary IP anomaly trends along the basalt and the shear zone parallel to the felsic tuff-basalt contact, (see Golden Goliath News Release, August 4 for detailed descriptions). All postulated sources of the gold grains are well within the property bounda...