VANCOUVER, March 2 /CNW/ - The Company is pleased to announce that it has
received assay results from additional sampling of underground workings on its
Las Bolas property. These latest values come from three different areas, all
of which are outside of the recently announced newly opened underground zone
which averaged 422.02 gm silver/tonne (or 12.24 oz silver/ton) and 0.23 gm
gold/tonne (herein called the "New High Grade Zone" or NHGZ). Two of these
newly sampled areas lie below the New High Grade Zone, along the Las Bolas
mine workings. The first of these two zones occurs about 50 metres vertically
below and 150 metres west of the NHGZ. Twelve contiguous chip samples taken
from this 15 metre stretch of the Las Bolas mine returned a weighted averaged
of 280.60 gm silver/tonne with 0.27 gm gold/tonne. The second of the newly
sampled Las Bolas working zones also occurs about 50 metres below the NHGZ,
but extends about 25 metres further to the east. This 35 metre zone has a
weighted average of 43.61 gm silver/tonne with 0.49 gm gold/tonne, including a
3.1 metre section that averages 243.95 gm silver/tonne and 2.84 gm gold/tonne.
The third area of new results lies just above and some 50 metres to the west
of the NHGZ in an extension of the Gambusino mine workings. A total of 28.35
metres of chip samples were collected from these non-linear workings. The
overall weighted average of all 28.35 metres is 1090.97 gm silver/tonne and
0.67 gm gold/tonne.
The Company recently received the results of the new Induced Polarization
geophysical survey completed in the Las Bolas - El Manto area, which was
commissioned in order to aid in the selection of drill targets. The results
show a distinctive signature coincident with the New High Grade Zone at a
depth of 75 metres below surface. The Company is very pleased that this
anomaly extends at least 700 metres from the NHGZ into an area not previously
drilled. At least two new holes are planned to test this extension of the NHGZ
The Company is also very pleased to announce that the final diamond drill
contract has been signed and the meterage has been adjusted to allow for an
expansion of the originally planned program from the proceeds of the recently
announced financing. The drilling contractor has informed the Company that he
anticipates being on site by March 6th.
ON BEHALF OF GOLDEN GOLIATH RE
J. Paul Sorbara, M.Sc., P.Geo.
The TSX Venture Exchange has not reviewed and does not approve or
disapprove the adequacy or accuracy of this release.
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