Golden Ridge Resources Ltd. (TSXV: GLDN). Golden Ridge is pleased to report the third and final batch of assay results from its 2017 drill program at the Hank Property in northwestern British Columbia, Canada. Highlights include hole HNK-17-009, which returned 7.04 g/t AuEq over 21.62 meters within a broader intercept of 3.15 g/t AuEq over 58.00 meters within the newly discovered Kaip Zone. The mineralization in HNK-17-009 is hosted within and surrounding the contact of a buried altered intrusion (Figure 2). The strongest mineralization appears to be situated within the upper parts of the intrusion and targeting the Kaip zone will be a priority for the upcoming 2018 drill program.
Digitizing is currently underway on a large historic IP/resistivity survey which covers the entire property. Once complete, new inversions will be run on the resistivity data and used as an aid in further targeting the mineralized intrusion in the upcoming 2018 drill program.
Following the historic drilling on the Hank, a joint BCGS/MDRU research paper was completed which recognized that the Pb isotope signature of sulfides associated with gold mineralization matched that of the Bald Bluff porphyry, a large intrusive stock on the west end of the Property (Kaip, 1997). It is interpreted that the altered intrusive intersected in HNK-17-009 is related to the Bald Bluff Porphyry and likely represents one of several causative mineralizing intrusions on the Property. The 2018 drill program will further test that model with the aid of new geophysical resistivity data.
Michael Blady, CEO of Golden Ridge stated: “We have been able to execute on the objectives of our 2017 program with great success which were to confirm mineralization from historic programs, test historic geologic models, test the undrilled areas of the LAZ, and to refine, update and modify our understanding of the controls on mineralization. We are well positioned for the 2018 season after closing a recent $1.5M financing and are excited to further drill the Kaip zone, utilizing the new resistivity data.”
Details of the 2018 drill program are currently being revised and will be presented in an upcoming news release.