Due to its location adjacent to the town, and the abundance of well-known old workings, the San Timoteo property was the first of Golden Goliath's Uruachic properties to receive detailed exploration. Detailed geological mapping, geochemical and geophysical surveys and underground rehabilitation work, was followed by preliminary reverse circulation and early diamond drilling programs.
During the last half of 2007 and throughout 2008, 34 diamond drill holes totaling 8,588 metres were completed on the San Timoteo property. In addition to the drilling a geophysical IP survey was completed over the San Timoteo II claim and an Advanced Spaceborne Thermal Emission & Reflection (ASTER) survey was also completed over the area. The exploration program also included the rehabilitation, mapping and sampling of the historic San Martin mine tunnel, which lies within the Las Trojas claim. Results from the direct underground sampling within the San Martin tunnel returned excellent results including 20 m grading 5.96 g/t gold and 202 g/t silver, 10 m grading 6.72 g/t gold with 142 g/t silver and 4.5 m grading 1.01 g/t gold and 1,545 g/t silver (see level plans on this page). These high grade zones remain to be followed and explored by underground drilling.
While the majority of the exploration work at San Timoteo was focused on delineating and expanding the known mineralized structure anchored by the historic San Martin tunnel workings, the Company also started exploring a new precious metal anomalous zone located approximately 750 meters north of San Martin which is called the Sucursal structure. This area, which also hosts an old mine tunnel, appears to be a large southwest-northeast corridor approximately 80 meters below surface returned assay values of 11.3 metres of 0.41 g/t gold and 142 g/t silver, including a section of 4.61 metres grading 0.59 g/t gold and 267 g/t silver which in turn includes a 1.05 meter section grading 0.46 g/t gold and 705 g/t silver (gold equivalent value of 14.56 g/t Au at a 50:1 silver/gold ratio).
The Sucursal structure is exposed on surface and is open at both depth and to the east with numerous tunnels and evidence of historic workings along strike, including the Las Animas mineralized structure which is located approximately 780 m to the west).
The last drill holes on the San Timoteo property were drilled in the Sucursal area, which lies several hundred metres north of the old San Martin tunnel. Very encouraging values were obtained from these holes and follow up drilling is definitely warranted. Drill hole SU-08-01 intersected 0.59 g/t gold and 267 g/t silver over 4.6m including 0.46 g/t gold and 70 g/t silver over 1.05m. An offset drill hole to the west of SU-08-01 intersected 175 g/t silver and 0.12 g/t gold over 4.87m and an offset to the east intersected 129 g/t silver and 0.17 g/t gold over 2.55m.
Underground drilling is required within the San Martin tunnel itself to further define several high grade silver and gold zones identified by continuous chip sampling of the tunnel walls. The extent and overall grade of these high grade zones are important for the purpose of a resource calculation and the origin of them is important for continued exploration. The zones, which occur at different locations along the length of the tunnel, are very difficult and expensive to drill from surface due to topographic conditions. The surface is about 175 vertical metres above the tunnel and the steep hillside makes drill pad preparation only possible in certain areas. A mineral inventory or resource calculation is planned for the San Timoteo area after the underground drilling is completed.
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