Golden Goliath Resources Ltd. announced that it has now closed its private placement for total gross proceeds of Can$2,958,220. The financing consisted of units at a price of Can$0.15 per unit. The proceeds will be used to expand the mineral resource at the Company’s Las Bolas property and to work on the new Filo do Oro zone on the east side of the Las Bolas property.
Golden Goliath Resources announced that underground detailed channel sampling and surface sampling was completed at the Los Hilos West tunnel, Mexico. The Los Hilos West tunnel hosts at least three unique vein structures. The results of 44 channel samples averaging 0.91 metres width, averaged 2.07 g/t gold and 98.61 g/t silver along a 151.0 m long section of the tunnel. The highest grade sample, which returned 33.9 g/t gold and 245 g/t silver, was taken at the junction of two of the vein structures.
Golden Goliah reported that chip samples assayed 21.3 g/t gold and 2,210 g/t silver at the Las Bolas property in Mexico. Six chip samples averaged 7.9 g/t gold & 919 g/t silver. The highest gold grade is 21.3 g/t and the highest silver 2,210 g/t.
