Golden Goliath Resources (TSX: GNG): Exploring 8 Properties in Mexico and 2 New Properties in the Red Lake District in Ontario; Interview with Paul Sorbara CEO
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By Dr. Allen Alper, PhD Economic Geology and Petrology, Columbia University, NYC, USA
on 5/7/2020
During PDAC 2020, we caught up with Paul Sorbara, CEO of Golden Goliath Resources (TSX: GNG). Since we spoke last, Golden Goliath has sold 7 out of 8 properties in Mexico and acquired 2 new properties in the Red Lake district, in Ontario and a third property near Wawa Ontario. With great Gold prospects and money in the bank, Golden Goliath is worth watching.
Golden Goliath
Dr. Allen Alper: This is Dr. Allen Alper, Editor-in-Chief of Metals News, interviewing Paul Sorbara, who is CEO of Golden Goliath Resources. I'm glad to have the opportunity to update our readers/investors on Golden Goliath.
Paul Sorbara: Well, thank you. It's good to be back here. We've been a little quiet in the last couple of years because we were in the process of optioning seven out of eight of our properties in Mexico to a large Mexican mining company and the option payments were too small to do a lot of work. In November of 2018 they made the final option payment of about two and a half million dollars US. With that money, I decided to move into Ontario. So for the last year we've been acquiring and exploring three different properties in Ontario. Two of them are in the Red Lake area, where the Red Lake Gold play is going on. One of them is over by Sault Ste. Marie. It's called the Wish Ore property.
Dr. Allen Alper: Well, that sounds great. Could you tell our readers/investors more about it?
Paul Sorbara: Certainly. The Red Lake property is an old mining camp. It's produced about 23 million ounces of gold. Within the last few years, there have been new discoveries by a company called Great Bear Resources. They've gone from five cents to over $7 and their gold is hosted in a deep-seated structure, called the LP Fault. We're just south of them on another deep-seated feature, called the Pakwash Fault. We have government seismic data that goes down 15 kilometers and it shows that these two faults are connected at depth. They're also connected to another fault that goes up to the Campbell mine, which has produced millions of ounces of gold.
So we're very excited that the potential feeder system underlies Kwai. The fluid that would be in those faults must have also come into our fault. We've already done IP along our fault in two locations and come up with very strong targets, and now we're going to expand that IP to come up with more targets and then drill those targets. There's almost no outcrop on that particular property called Kwai and therefore the prospectors never really found anything because there was nothing to find on surface. Geophysics is really the only tool that's showing us where to drill.
We trade on the TSX Venture Exchange, under the symbol GNG. We trade in the United States on the over the counter market GGTHF and we trade in Germany as well as GGS in Frankfurt.
Dr. Allen Alper: Oh, that sounds great. Could you highlight your plans for 2020, what your work will be and the timing?
Paul Sorbara: Certainly, certainly. We have $1 million in the bank right now and we're going to be using that money. We're flying an airborne survey over the Kwai property in Red Lake, in about one week, and that will show us where to do more IP along the 10 kilometer stretch of the fault that we have. And then we'll use that IP data, add those targets to our existing targets and start to drill those targets. We're not sure, we have 10 permitted drill holes right now, we are going to end up with more than that, but we don't know how many. So we don't know how much drilling that we're going to need at the end of the day and we're not even sure at what time we can start that. We certainly want to get it done this year, but it just depends on the market and everything, but we're keen to go ahead.
Dr. Allen Alper: Well, that sounds great. Could you tell our readers/investors a little bit about your background, your Management Team and your Board?
Paul Sorbara: Sure. I'm a professional geo-scientist, geologist with a master's degree, which I received from the University of Toronto in 1979. I then worked for six years for a major mining company, and then in 1986 I started to consult. In 1993 I went and started my own Company down in Mexico, staked and developed those eight projects, of which we sold seven and then took the Company public. Golden Goliath went public in 2000 and we've never rolled the Company back. We have only 117 million shares out. We haven't done a financing in seven or eight years because I've been living off the money that I've generated from property deals. We still have $1 million in the bank.
Our management team includes business people, mining people, accounting and lawyers. It's a very strong mining-background team. We're not big promoters. We're really explorers. 70% of all the money that we've ever spent has gone directly into exploration and you're one of the few people that I do promotion with.
Dr. Allen Alper: Well, that's great. I appreciate it and my readers/investors appreciate it. As you know, I've become one of your investors and I've stayed right with you the whole time. So I'm looking forward to this year. It sounds like this will be an exciting year of exploration and discovery.
Paul Sorbara: It should be a good year. People can find out more about what we're doing and see details, and maps, and sections, and that geophysical seismic data. It's all on our website, www.goldengoliath.com. The contact information for myself is on that website and I am always happy to talk to investors or potential investors or anybody else who wants to call me or email me. I'm happy to correspond.
Dr. Allen Alper: Ah, that sounds excellent. Could you tell our readers/investors the primary reasons they should consider investing in Golden Goliath?
Paul Sorbara: One of the reasons is we have excellent projects. We have money in the bank. Our target is gold. The gold price is going up and will probably continue to go up, maybe quite rapidly. We'll see what happens around the world. We're well-structured. We're well-focused. Our properties have excellent access and at the moment we're only trading at about seven or eight cents. If we drill and make a discovery, then that share probably should increase significantly.
Dr. Allen Alper: Oh, sounds like excellent reasons to consider investing in Golden Goliath. Paul, is there anything else you'd like to add?
Paul Sorbara: There's a lot of uncertainty in the world right now, with the Coronavirus. All we can do is watch what happens in the big markets, and make sure everybody stays healthy, and watch the gold price, because we're affected a lot by the gold price. If anybody wants to know more about what's going on, get in touch with me through our website.
Dr. Allen Alper: Well, that sounds excellent.
https://www.goldengoliath.com/
Golden Goliath Resources Ltd.
Suite #910 - 688 West Hastings Street
Vancouver, BC
V6B-1P1, Canada
jps@goldengoliath.com
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