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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (141)	2/8/2013 9:41:33 AM
From: Goose94	Read Replies (2) \| Respond to of 202707

Golden Goliath Resources (GNG-V) operator to drill Las Bolas/Los Hilos Feb 6th, 2013 - News Release Golden Goliath Resources Ltd. has now received the preliminary report of the 2012 drilling activities on the Las Bolas/Los Hilos property, which is subject to an earn-in shareholder agreement. Under the terms of the earn-in and shareholder agreement, Agnico-Eagle Mines Ltd. can earn a 51-per-cent interest in the property by spending $5-million on exploration over a five-year period. Agnico-Eagle will then have the option of earning an additional 20-per-cent interest by either completing a feasibility study or by spending an additional $10-million in exploration. During this first year of the option agreement, a program of diamond drilling that consisted of 2,803.5 metres of NQ-diameter diamond drilling in 10 holes of varying lengths was completed. A total of 2,712 samples were taken from this core for analysis by ALS Chemex. Of the 10 holes in this program, eight were located in the area known as the Filo de Oro trend, which includes the old Los Hilos adit, and two were located in the area known as El Orito, which is also on the eastern side of the property. The drilling program was oriented with the purpose of looking for mineralized structures, such as veins, stockwork zones, faults and fractures, parallel to the known structural trends in the area in order to extend the mineralized zones previously indicated by Golden Goliath's work. Eight of the 10 holes had mineralized intersections extending these target areas. This includes hole ALH-12-001, which extended the Crucero Largo zone by 120 metres. This structure is adjacent to, and strikes perpendicular to, the main Los Hilos vein. A zone of disseminated mineralization, hosted in rhyodacite, rhyolite and volcanic agglomerate, was also intersected above the old Los Hilos mine tunnel in hole ALH-12-003, and mineralized structures were encountered below this old tunnel in hole ALH-12-008. The two holes in the El Orito zone were also encouraging, and this zone was pointed out as a good target for further drilling. Golden Goliath believes that these results have grown the known mineralization on the property. The report recommends more drilling on the property, including the El Orito and Las Bolas areas, as well as further surface work. A new drill program will commence on the property in February. Meanwhile, Golden Goliath is very pleased with the results on Las Bolas/Los Hilos. It continues developing specific drill targets on its 100-per-cent-owned Nopalera property. Nopalera is adjacent on its west side to the Las Bolas property. On its east side, Nopalera is adjacent to the very significant new discovery by Fresnillo PLC at Orisyvo, which already has a resource of 9.6 million ounces of gold and 13 million ounces of silver. The discovery of Orisyvo has spurred local infrastructure improvements. These include the Mexican government's upgrading of the 45-kilometre gravel access road leading to Uruachic to a two-lane paved highway. Golden Goliath is also preparing the old San Martin adit for a program of underground drilling. This property is 100 per cent owned by Golden Goliath. The San Martin adit is about 600 metres long and lies approximately five kilometres north of the Las Bolas/Los Hilos property. Previous detailed underground sampling at San Martin has returned excellent grades and widths, including 5.96 grams per tonne gold plus 202 grams per tonne silver over 20.0 metres and 6.72 grams per tonne gold plus 141 grams per tonne silver over 20 metres. No underground drilling has ever been conducted inside of this adit.