Golden Goliath Resources Ltd., a prominent name in the mining industry, has recently expanded its portfolio by acquiring four promising rare earth element (REE) properties in Quebec. This move underscores the company's commitment to leveraging Canada's rich mineral resources. The newly acquired properties, named Ernest, Victory 21, Bedard, and Citadelle, have shown significant geological potential with anomalous Rare Earth Element values in lake sediments and through limited rock sampling.
These properties are strategically located within 50 kilometers of the Manicouagan impact crater, an area noted for its unique geological features which may influence the elevated REE values. The sites benefit from excellent infrastructure, including proximity to hydro power facilities and accessible transportation with Highway 389 cutting through the properties, complemented by secondary access routes developed through recent forestry activities.
The Quebec project, known as the Manicouagan project, is distinguished by its highly prospective metamorphic and igneous complexes. Preliminary assessments conducted by the Ministère des Ressources naturelles et des Forêts through lake sediment and limited rock sampling have identified significant concentrations of key REEs such as Cerium, Lantanum, Neodymium, Praseodymium, Vanadium, and Rubidium. Golden Goliath plans to initiate hands-on exploration in July and August 2023, aiming to determine the most effective strategies for a comprehensive exploration program.
In addition to its ventures in Quebec, Golden Goliath continues to explore two 100% owned gold properties in Ontario. The Wish Ore property, situated approximately 50 miles north of Sault Ste. Marie, offers easy access from the Trans-Canada Highway. Meanwhile, the Kwai property is located in the prestigious Red Lake District, near the site of the former Great Bear Resources property recently acquired by Kinross.
Golden Goliath also maintains a strong presence in Mexico, where it owns the San Timoteo silver and gold property in the Uruachic Mining district of Chihuahua. The San Martin mine, a former production site within the San Timoteo property, features extensive old workings, including the 500 level—500 meters long and 3 to 4 meters in diameter, which hosts three well-mineralized zones. The company recognizes the potential beneath this level and is considering further exploration drilling to pursue these zones deeper.
Moreover, Golden Goliath holds NSR royalties on seven surrounding properties previously sold to Fresnillo PLC, one of the world's largest mining companies. Despite Fresnillo's interest in acquiring San Timoteo, Golden Goliath retained ownership, reflecting its strategic importance. Additionally, the company owns a substantial house/office in the nearby town, further establishing its footprint in the region.
As Golden Goliath Resources Ltd. advances its exploration and development initiatives across North America, it remains poised to enhance its position in the mining sector, driven by a strategic approach to resource management and exploration excellence.
