TSX.V : GNG
US: GGTH-F
VANCOUVER, March 28 /CNW/ - The Company is pleased to announce that it is currently negotiating for a second diamond drill for the major program now underway at it's 100% owned Uruachic mining camp properties. The second drill, which will be available in about two weeks, would allow the Company to be more aggressive in its exploration efforts.
Further to the Company's news release of March 1, the Company anticipates the close of its $6 million financing in mid April.
Currently, drilling is underway in the area of the old San Martin mine on the San Timoteo property. The old San Martin adit, which is the only one in the Uruachic camp known to have tracks, lies just above the bottom of the arroyo, some 275 vertical metres below the recent drilling. The old records state that the average production grade from San Martin was 7.8 gm gold/tonne and 1038 gm silver/tonne. The records state that the structure is 2.2 metres wide and 1,000 metres long. Assays for the last four short holes drilled near the San Timoteo workings returned only two intervals with values over 30 gm silver/tonne. Assay results will be released in batches once they have been received and analyzed by the Company.
ON BEHALF OF GOLDEN GOLIATH RESOURCES LTD.
J. Paul Sorbara, M.Sc., P.Geo.
President
The TSX Venture Exchange has not reviewed and does not approve or
disapprove the adequacy or accuracy of this release.