Golden Ridge Drills a New High-Grade Gold Discovery; Intersects 20.00 meters of 11.63 g/t Au and 13.8 g/t Ag at the Boiling Zone
V.GLDN | 5 hours ago
KELOWNA, British Columbia, Oct. 15, 2018 (GLOBE NEWSWIRE) -- GOLDEN RIDGE RESOURCES LTD. (TSX-V: GLDN) ("Golden Ridge" or the "Company") is pleased to report the initial batch of assay results from the Boiling Zone (BZ) and Kaip Zone (KZ), located at the Company’s Hank Project in BC’s Golden Triangle District. HNK-18-010, drilled in the Boiling Zone, intersected 20.00 metres at 11.63 g/t Au and 13.8 g/t Ag including 2.85m at 67.27 g/t Au and 74.1 g/t Ag. HNK-18-004, drilled in the Kaip Zone, returned 168.60 metres at 0.27 g/t Au and 1.99 g/t Ag associated with altered and brecciated Stuhini volcanics (Figure 1).
Assay results from HNK-18-010 represent the first of three holes drilled in the Boiling Zone. Assays from the other two BZ holes are pending and will be released immediately following receipt, review and QA/QC checks. The mineralization intersected in the Boiling Zone is unlike other zones on the Property. Gold and silver grades in HNK-18-010 are associated with a quartz-carbonate-pyrite vein stockwork which cuts altered Stuhini volcanic rocks. The Au-Ag grades in hole 10 are not associated with high Pb-Zn values as is typical of the Lower Alteration Zone (LAZ) on the Property. This new mineralization style has not been encountered before on the Hank property and signifies a new high grade gold discovery.
Overlimit (>25 g/t Au) sample results from HNK-18-010 were re-run with a metallic screen analysis which confirmed the presence of coarse free gold in the samples, resulting in an increase to the overall grade.
HNK-18-004 was collared upslope from the Kaip Zone and drilled at a steep angle, with the deeper section of the hole intersecting a broad zone of gold mineralization in the KZ (Figure 2). HNK-18-006 was collared on the same location as HNK-18-004 at a steeper dip, but failed to intersect any significant mineralization due to steep nature of the mineralization of the Kaip Zone.
Highlights:
New high grade discovery drilled in the Boiling Zone with a high precious:base metal ratio, indicating a close proximity to a hydrothermal fluid source.
Assay results from two additional holes drilled in the Boiling Zone are pending.
Mineralization intersected at relatively shallow depth, with potential for expansion along strike and at depth.
Read more at http://www.stockhouse.com/news/press-releases/2018/10/15/golden-ridge-drills-a-new-high-grade-gold-discovery-intersects-20-00-meters-of#qXWP0w8KiCPDcghs.99
V.GLDN | 5 hours ago
KELOWNA, British Columbia, Oct. 15, 2018 (GLOBE NEWSWIRE) -- GOLDEN RIDGE RESOURCES LTD. (TSX-V: GLDN) ("Golden Ridge" or the "Company") is pleased to report the initial batch of assay results from the Boiling Zone (BZ) and Kaip Zone (KZ), located at the Company’s Hank Project in BC’s Golden Triangle District. HNK-18-010, drilled in the Boiling Zone, intersected 20.00 metres at 11.63 g/t Au and 13.8 g/t Ag including 2.85m at 67.27 g/t Au and 74.1 g/t Ag. HNK-18-004, drilled in the Kaip Zone, returned 168.60 metres at 0.27 g/t Au and 1.99 g/t Ag associated with altered and brecciated Stuhini volcanics (Figure 1).
Assay results from HNK-18-010 represent the first of three holes drilled in the Boiling Zone. Assays from the other two BZ holes are pending and will be released immediately following receipt, review and QA/QC checks. The mineralization intersected in the Boiling Zone is unlike other zones on the Property. Gold and silver grades in HNK-18-010 are associated with a quartz-carbonate-pyrite vein stockwork which cuts altered Stuhini volcanic rocks. The Au-Ag grades in hole 10 are not associated with high Pb-Zn values as is typical of the Lower Alteration Zone (LAZ) on the Property. This new mineralization style has not been encountered before on the Hank property and signifies a new high grade gold discovery.
Overlimit (>25 g/t Au) sample results from HNK-18-010 were re-run with a metallic screen analysis which confirmed the presence of coarse free gold in the samples, resulting in an increase to the overall grade.
HNK-18-004 was collared upslope from the Kaip Zone and drilled at a steep angle, with the deeper section of the hole intersecting a broad zone of gold mineralization in the KZ (Figure 2). HNK-18-006 was collared on the same location as HNK-18-004 at a steeper dip, but failed to intersect any significant mineralization due to steep nature of the mineralization of the Kaip Zone.
Highlights:
New high grade discovery drilled in the Boiling Zone with a high precious:base metal ratio, indicating a close proximity to a hydrothermal fluid source.
Assay results from two additional holes drilled in the Boiling Zone are pending.
Mineralization intersected at relatively shallow depth, with potential for expansion along strike and at depth.
Read more at http://www.stockhouse.com/news/press-releases/2018/10/15/golden-ridge-drills-a-new-high-grade-gold-discovery-intersects-20-00-meters-of#qXWP0w8KiCPDcghs.99