About Golden Goliath Resources Ltd:
Golden Goliath Resources Ltd. Is a junior mining exploration company listed on the TSX Venture Exchange (GNG TSX.V). The Company is exploring a former producing gold/silver mine in the Uruachic mining district in the Sierra Madre region of northwest Mexico. The former San Martin mine lies within the Company’s 100% owned San Timoteo property.
Golden Goliath owns an additional 7 properties in the Uruachic mining district in Chihuahua State, Mexico, which has a production history dating back to 1700’s and 1800’s. Those 7 properties are currently under option to Fresnillo PLC, which is developing the Orisyvo gold deposit, which lies about 15 kilometers to the southeast. The option payments to Golden Goliath from the Fresnillo agreement are sufficient to meet the basic financial requirements of Golden Goliath for several years.
Fresnillo’s nearby Orisyvo deposit is expected to be a significant gold and silver producer which will beneficially impact the region. In June, 2012, Fresnillo announced in a Chihuahua newspaper that the Orysivo project has already had USD$150 million spent and will require an investment of USD$800 million more to carry out pre-feasibility and construction. The number of direct jobs will be 1,500 and the life of the project will be 15 years; however the Company leaves open the possibility to stay longer according to the development of the operation.
Mr. Sorbara, President of the Company, completed his M.Sc. at the University of Toronto in 1979, studying collapsed caldera structures in Canada’s Northwest Territories. Following graduation, he conducted Caldera Reconnaissance Programs for Cominco Ltd. in both British Columbia and the Sierra Madre Occidental range in Northern Mexico, spending a number of years in Cominco’s Guadalajara office. Changes in the foreign investment laws made investment in Mexico feasible, and Mr. Sorbara was one of the first Canadians to go there. With help from his numerous Mexican geological contacts, he started his own private Mexican exploration company, Minera Delta S.A. de C.V. which after eight years he took public as Golden Goliath Resources Ltd.