Golden Ridge Resources drills 50.45 g/t gold over 0.5 metres at Williams, Newfoundland

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Golden Ridge Resources Ltd. [GLDN-TSXV; GORIF-OTC; 44G-FSE] reported initial results from the maiden drill program at its Williams gold property that is surrounded by New Found Gold Corp.’s Queensway South gold property in the Central Newfoundland gold belt of the province of Newfoundland and Labrador.

The maiden drill program consisted of 29 holes for a total of 4,186 metres. Initial assays from the property indicate numerous near-surface zones of gold mineralization throughout the property.

Highlights: Intercepted visible gold (VG) in hole WIL-22-014; WIL-22-14 returned 0.5 metre of 50.45 g/t gold from 11 to 11.5 metres. WIL-22-12 returned 37.8 metres of 0.7 g/t gold from 6.24 to 44.07 metres.

The Appleton fault corridor within the property shows broad intervals of alteration and sulphide mineralization. Inaugural drilling at Williams has consistently intersected near-surface gold mineralization in multiple zones over 1.5 km apart in the first 14 holes that have received assays.

Drilling at Williams was focused along the main forest service road accessing the southeastern portion of the project. Holes were staged from this access road and provided important geological and analytical information, which was used to form the basis of Golden Ridge’s geologic model which will continue to progress as additional assays are reported.

The drilling program at the Williams gold property follows up extensive prospecting, high-density soil sampling and trenching by Golden Ridge. The initial drill results show multiple mineralized fault zones associated with the previously reported large gold-in-soil anomalies. The 2022 drill program was focused on testing the large gold-in-soil anomalies and trench sampling.

“Initial results from the first 14 holes at the Williams gold property show robust gold mineralization within multiple fault systems. Golden Ridge is very excited to see the strong correlation between gold-in-soil anomalies and gold mineralization observed in core. Intersecting visible gold in the maiden program demonstrates the fertile nature of the property. Broad intervals of shallow mineralization also suggest the potential for larger mineralized systems along strike and at depth. Relative to our peers in the area, I think we are off to an exceptional start, and we are eagerly awaiting results from the remaining 15 holes testing multiple zones within our 4-km swath of Appleton fault corridor at the Williams gold property,” stated Mike Blady, CEO and director of Golden Ridge.

Golden Ridge is advancing mineral properties located in Newfoundland and British Columbia. Golden Ridge is currently focused on exploration and development of its portfolio of exploration assets in Newfoundland. The company owns a 100% interest in the 1,700-hectare Hank copper-gold-silver-lead-zinc property and the 3,000-hectare Hickman copper-gold property located in the Golden Triangle district, approximately 140 km north of Stewart, B.C.; it has a portfolio of exploration projects in Newfoundland.

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