Located in a proven, historical area of northwestern Mexico, Golden Goliath Resources is currently exploring the Orisyvo area for silver and gold in their Nopalera project.
The Orisyvo area of northwestern Mexico is a busy place right now, as multiple companies are looking for gold and silver, infrastructure is growing and multiple companies are working in the region. With proven resources nearby, Golden Goliath is now preparing to drill on their Nopalera property as well as work with their joint venture partners and option companies.
Trading under the symbol GNG, the company's Uruachic claims encompass 375 square kilometers that are dotted with historic mines going all the way back to the time of the Spanish interest in the area. Currently, all of Golden Goliath's claims are owned completely by the company. The importance of the location of the claims cannot be understated. The Uruachic camp area for miners is centrally located in the midst of a large trend of past producing mines explored over the last 400 years. As part of the Sierra Madre area, the area has provided 2 billion ounces of silver and 40 million ounces of gold already.
Paul Sorbara, President and CEO of Golden Goliath Resources, is optimistic about the development of the area surrounding their Nopalera property. He said, “There're lots of things happening around our property package in northwestern Mexico right now. A very large mining company, Fresnillo PNC, the world's largest primary silver producer, has just discovered a new deposit called Orisyvo which is right next to our property.” The proximity of the property makes the Nopalera property even more valuable. Said Sorbara, “Orisyvo has a resource of nine million ounces of gold and three million ounces of silver.” In addition to Fresnillo's work in the area, there is another interest nearby. Said Sorbara, “Their sister company, Peñoles, has now surrounded all of our properties.”
Golden Goliath has more than one property in the area. Sorbara said, “We have about six sets of properties covering this old mining district and we have been there working on them for a long time.” With the addition of other companies to the area, the surrounding community is responding by adding features that are supportive of mining. Said Sorbara, “Now with Orisyvo, the infrastructure is getting a major boost. They are putting in a new two lane highway near the town and a new airstrip.” The new mining activity will assist local communities in putting people to work and helping families. Said Sorbara, “The new mine at Orisyvo will employ 1500 people for a minimum mine life of 15 years, so it is a big thing. The area, which was very quiet and sleepy when I got there, is now becoming a very hot and active place.”
Golden Goliath is progressing with their own plans for the area. Sorbara said, “We are working on the Nopalera project that we are about to drill, or are getting ready to drill. That's the one that is contiguous to Orisyvo on one side.” In addition to embarking on a drilling program for the Nopalera project, Golden Goliath is also working with another company to move the Oteros project forward. Sorbara said, “On the other side, we were working on the Oteros property, but Agnico-Eagle has entered into a joint venture agreement with us, so there's been $5 million dollars turned into 51% of that property and they just finished their first drill program.” Currently, Sorbara and his team are waiting to hear results based on Agnico-Eagle's work. He said, “We are expecting drill results from them in the month of October.”
In addition to Nopalera and Oteros, Golden Goliath is also involved in another shared project named Corona with Comstock Metals. Sorbara said, “We have another property just to the west in the same district. That is under option now to Comstock Metals.” Though Comstock isn't currently working on the project, they will resume work shortly. Said Sorbara, “Comstock has a property in Yukon that they have been working on all summer.” As the weather changes, they will resume work on Corona. Said Sorbara, “They've also already done one drill program on our Corona property and they are very encouraged by what they saw. As soon as it starts to snow in the Yukon, which will be any day now, they will be moving back to Mexico to work on our Corona property.”
Golden Goliath has several large shareholders that share their vision for the future of the company. Said Sorbara, “Our biggest shareholder is Efstratios Tsalas from Strat Asset Management. They own about 12%-13% of the company.” Another large shareholder is also a joint venture partner. Sorbara said, “Agnico-Eagle Mines is our second biggest shareholder with 8% and Agnico-Eagle is also on our Board, as they are optioning the Las Bolas property from us.”
Currently, Sorbara believes that Golden Goliath may have the opportunity to be bought out of the area. He said, “All of our claims are inside of the joint claims that these companies have put around us, so we are a very good takeover candidate for those people. We were there long before them, so they are really the closeology to us.”
With claims and exploration underway in a historic area of mining-friendly northwestern Mexico, Golden Goliath is poised to discover the potential for silver and gold in the area. Developments include the addition of critical infrastructure, the addition of joint venture partners and the known resources of the Orisyvo deposit nearby. The location of the claims makes Golden Goliath a prime takeover target in the near term as they begin to work on their Nopalera and Otero projects. For investors interested in a possible takeover play in a historically viable area, Golden Goliath may be a company worth further investigation. For further research, visit the Golden Goliath website at
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