Golden Ridge Resources Ltd. [GLDN-TSXV] was an active trader Monday July 22 after the company released new drill results from its Hank property, located in northwest British Columbia’s Golden Triangle region.
Results released on Monday are from the first hole drilled in 2019. It was designed to step out 65 metres north of drill hole HNK-18-013 to confirm the existence of a significant copper-gold porphyry discovery at the Williams Zone. It intersected 319 metres grading 0.42 g/t gold, 0.34% copper and 2.20 g/t silver (0.96 g/t gold equivalent), including 131 metres of 0.68 g/t gold, 0.55% copper and 3.34 g/t silver (1.56 g/t gold equivalent).
On Monday, Golden Ridge said drill hole HN-WZ-19-01 intersected similar geology and mineralization to HNK-18-013 and returned 278 metres of 0.35% copper, 0.28 g/t gold, (0.55% copper equivalent), within 380.5 metres of 0.28% copper, 0.22 g/t gold, 1.43 g/t silver.
Golden Ridge shares eased 10.71% or $0.015 to 12.5 cents on volume of almost 1.2 million. The shares are trading in a 52-week range of $0.08 and 54 cents.
New assays have been released after Golden Ridge recently signed an option agreement with Evrim Resources Corp. [EVM-TSXV] to acquire an 80% interest in the 52,442-hectare Ball Creek Project.
The Ball Creek Project fully surrounds Golden Ridge’s 100%-owned Hank property. Therefore, the agreement effectively increased the company’s land position in the Golden Triangle by 2,056%.
Golden Ridge is engaged in acquiring and advancing mineral properties in B.C. The company holds a 100% interest in the 1,700-hectare Hank gold-silver-lead-zinc property, which is situated approximately 140 kilometres north of Stewart.
Golden Ridge recently reported a new porphyry copper-gold discover on the Hank property. It intersected an alkali porphyry system in an area known as the Williams Zone prospect. The new alkali porphyry discovery has been intersected in multiple holes along a 200-metre strike length to a depth of 585 metres below surface, the company has said. The zone remains open along strike and at depth.
“The first drill hole completed this year at the Williams Zone was a successful 65-metre step-out to the north and showed good continuity of mineralized monzonite and demonstrated that the potassic altered monzonite is in fact trending towards the Ball Creek claims,” said Golden Ridge CEO Michael Blady.
“Golden Ridge’s technical team has generated targets on a northern trend that could constitute a possible extension of Williams-style mineralization onto the Ball Creek Project,’’ he said. “Our 2019 phase II program will test these targets, including those located in close proximity to the Hank/ Ball Creek property border.”