Resource World Magazine

Golden Goliath, or jointly with its partners. When Golden Goliath went public in 1999 it amassed a strong support team, including Sean Boyd of Agnico-Eagle Mines Ltd. [TSX-AEM], its second-largest shareholder after Sprott; and a collection of experienced geologists, management, and financial specialists. An option agreement with Agnico-Eagle on part of the Uruachic camp called Las Bolas/Los Hilos has resulted in encouraging reports on the unusual gold-silver porphyry deposit. For example, at Las Bolas Station 19, an averaged sampling result of over 45 m of length and 12.6 m width is 1.25 g/t Au and 577 g/t Ag; at Station 37, over 30.6 m length and 10.0 m width, 4.7 g/t Au and 485 g/t Ag. Adjacent to the Las Bolos/Los Hilos Project is the equally large Nopalera Project, run by Minera Delta (Golden Goliath). Historical workings include an old stibnite (antimony) mine, and current exploration confirms excellent structural continuity of the regional trends of large northwestern faults crosscut by abundant northeast-trending faults with other eastwest and north-south structures coalescing right near Uruachic. Target geology consists of Cenozoic upper rhyolitic layers overlying mineralized andesites, cut by intrusive bodies and associated alteration. Mineralization is characteristic of high-sulphidation epith- february 2013 ermal deposits, hosted in tabular stratiform units with vuggy quartz and sinter caps, containing elements such as antimony, arsenic, gold and silver. In the Uruachic area, the Rio Oteros (local river) has dissected a visible crosssection of this favourable geological setting, revealing colourful alteration zones in rock cliffs exposed below pine-dotted slopes. Modern tools such as the TerraSpec, an updated portable spectrometer instrument, are being used to help identify alteration minerals in the field. Golden Goliath also holds other significant properties, including a historical silver prospect called La Cruz, eastern Sierra Madre; and a lead-zinc-silver target called Chamizal in central Chihuahua near silver mines Eulalia and Naica (15% combined Pb-Zn and 150 g/t Ag), under option to Tectonic Minerals (amalgamated with Comstock in 2011). Another of Golden Goliath's properties, the Corona, in the western part of the Uruachic district, is being explored by Comstock Metals Ltd. [CSL-TSXV]. This flurry of activity by junior explorationists did not fail to attract bigger fish. Where Sorbara's Golden Goliath was once the main player in Uruachic, it is now surrounded by three massive companies intent on getting in on the gold – its ally and partner Agnico-Eagle was the first, followed by Mexico's Fresnillo PLC and the mining company Peñoles. Indeed, their interest has paid off. AgnicoEagle, a Toronto-based mid-tier mining company has the Piños Altos Mine in production near the Chihuahua – Hermosillo highway, 50 km north of Uruachic, and continues its exploration with GNG in the Las Bolas / Los Hilos Project area. Fresnillo's main Orisyvo discovery 8 km SE of the contiguous Nopalera property has astonishing potential, initiating the government to pave a main road into the area. Orisyvo is a porphyry deposit with similar geology to Uruachic; that is, an overlying sequence of rhyolitic layers and underlying mineralized andesites. Orisyvo's minimum resource is estimated at a whopping 9.6 million ounces of gold. In addition, between Piños Altos and Uruachic, lies the Ocampo mining area, recently sold by AuRico Gold to Minera Frisco (Carlos Slim) for $750 million. Historically, this entire trend in the Chihuahua area is rich in silver deposits, which are reported to host between 2,200 and 17,000 g/t Ag. This year's goals for Golden Goliath include raising funds for a 5,000 metre drill program on the Nopalera, San Timoteo, and Nueva Union targets at Uruachic. It's an exciting time in the district, and for Sorbara who hasn't abandoned his rockstar dreams. He now plays drums for the Compound Blues Band. n www.resourceworld.com 65

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