Golden Ridge drills 5.13 metres of 4.04 g/t gold at Heritage Project, Newfoundland
Golden Ridge Resources Ltd. [GLDN-TSXV; GORIF-OTC] reported results from holes HE-TZ-20-01 to HE-EZ-20-22, drilled at the Eagle, Pinnacle, Turpin and Lunch Spot zones, as part of its recently completed 5,182-metre diamond drill program at the Heritage epithermal Au-Ag (gold-silver) project, located along Highway 220, near Point May, Newfoundland.
Drill holes from the Eagle zone reported in this news release have successfully extended known epithermal mineralization at depth, 75 metres below the previously released HE-EZ-20-02. Six scout drill holes were also completed on a parallel magnetic structure 800 metres to the east. Significantly, all six scout drill holes from the Pinnacle, Turpin and Lunch Spot zones intersected epithermal veining, alteration and Ag-Au mineralization. These new drill discoveries further support the presence of a second large epithermal system paralleling the Eagle zone to the east, with a strike length of at least 2.5 km.
Hole HE-EZ-20-14, which intersected 5.13 metres of 4.40 g/t gold and 97.40 g/t silver (385.65 g/t AgEq), has successfully extended the mineralized core of the Eagle zone an additional 75 metres at depth.
Holes HE-EZ-20-16 to HE-EZ-20-21 successfully extended epithermal mineralization near the northern extent of the Eagle zone, where historic drilling reached only about 20 metres in vertical depth.
Hole HE-EZ-20-18 intersected 3.36 metres of 4.59 g/tgoldand 202.33 g/t silver (529.88 g/t AgEq) and HE-20-20-17 intersected 1.16 metres of 0.89 g/t gold and 509.10 g/t silver (572.31 g/t AgEq).
Drilling at the Pinnacle, Turpin and Lunch Spot zones highlights the extensive size of the PMES (Point May epithermal system). These initial results will aid the company in vectoring into additional zones on the property.
Hole HE-PZ-20-01 intersected 1.53 metres of 2.79 g/t gold and 265.00 g/t silver (464.29 g/t AgEq) suggests that there may be significant Ag-Au mineralized intervals and additional structures between the Pinnacle zone discovery outcrops.
Hole HE-TZ-20-01, which intersected 3.00 metres of 1.81 g/t gold and 150.40 g/t silver (279.69 g/t AgEq) and 9.00 metres of 0.67 g/t gold and 78.67 g/t silver (126.53 g/t AgEq), successfully tested near-surface epithermal Ag-Au mineralization within the Turpin zone. Hole HE-TZ-20-01 is the first drill hole to expand at depth the Turpin Zone discovery outcrop, from which grab samples assaying up to 117 g/t gold were collected. The Turpin zone remains open along strike.
The company is planning a Phase II exploration program.