Golden Ridge Resources Ltd. [GLDN-TSXV; 44G-FSE]Â has discovered high-grade (281 g/t) gold float at the Williams gold property that is surrounded by New Found Gold Corp.â€™s Queensway South gold property in the central Newfoundland gold belt of the province of Newfoundland and Labrador. The sample was taken during prospecting of the underexplored western portion of the property.
Prospecting during 2021 discovered high-grade gold float in the Dominion zone, in the southwest of the property. The assay of 281 g/t (9 oz/ton) gold is one of the highest reported for an individual grab sample in the Queensway South area. Exploration in 2021 continues to highlight the potential for high-grade gold zones within the Williams property. Golden Ridge will continue to explore the underexplored Dominion zone when assays become available.
During the 2021 field exploration season Golden Ridge took 200 grab rock samples and 255 channel samples from outcrop and trenches, as well as 1,316 soil samples. Due to the current high level of exploration activity in Newfoundland, and consequent demand for analytical services, the company is still awaiting the full suite of assays, which should be received in time to plan the next phase of exploration in early 2022.
The 2021 field exploration covered the majority of the underexplored Williams gold property. Golden Ridge identified numerous hydrothermal zones spanning across the property, primarily concentrated within the Dog Bay and Appleton fault corridors. Soil Sampling was conducted on a high-density (25 x 25-metre) grid in order to follow up anomalies identified in the 2020 100 x 100-metre regional soil sampling grid. Based on results of the 2021 trenching program, Golden Ridge strongly believes the high-density soil sampling grid will be an effective geochemical targeting tool for future exploration.
Mike Blady, CEO and president, stated: â€˜The high-grade float sample taken at the Dominion zone shows the potential for high-grade gold within the Williams property and throughout the South Queensway area. We are continuing to uncover and define the potential for high-grade gold mineralization across the Williams gold property, where very limited historical work has been done. Using the trenching, and geochemical soil-sampling data, from 2021 we will continue to vector toward the high-grade sections of the Dog Bay and Appleton fault corridor. Upon receipt of assays, we will be able to effectively and quickly follow up these targets early in 2022.â€
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., and has a portfolio of exploration projects in Newfoundland.