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Golden Ridge Resources Announces Plans for 2018 Drilling at the Hank Project in BC’s Golden Triangle
KELOWNA, British Columbia, March 05, 2018 (GLOBE NEWSWIRE) -- Golden Ridge Resources Ltd. (“Golden Ridge” or the “Company”) (TSX-V:GLDN) is pleased to announce
About this update from Golden Ridge Resources Ltd.
[{"type":"text","content":" KELOWNA, British Columbia, March 05, 2018 (GLOBE NEWSWIRE) -- Golden Ridge Resources Ltd. (“Golden Ridge” or the “Company”) (TSX-V:GLDN) is pleased to announce that it has completed a detailed review of all the exploration data generated from its 2017 maiden drill program on the Hank Property (“Hank” or the “Property”) in the Golden Triangle area of northwestern British Columbia. A better understanding of the controls on gold and silver mineralization has identified five high priority drill targets on the Property, only one of which has ever been drill tested and that being a new discovery in 2017. As a result, the Company has planned a 2018 exploration program to complete approximately 8,000 m of core drilling. Fieldwork is expected to commence in mid-June, depending on snowpack conditions. This exploration program will satisfy the remaining approximate $100,000 in exploration expenditures required to earn a 100% interest in the Hank Property from Lac Properties Inc. (subsidiary of Barrick Gold Corp). A summary of the five new 2018 drill targets, in priority order, is as follows: BOILING ZONE TARGET New property-wide spectral analysis work on the various alteration zones has shown that a highly prospective target occurs between the Lower Alteration Zone (LAZ) and the Pits Zone, in an area which has never been drill tested. The LAZ (yellow on Fig. 1) exhibits predominantly Illite alteration, a high temperature clay mineral typically associated with the deeper roots of an epithermal system. Despite the earlier high-grade intercepts encountered in the LAZ, including the 2017 holes, it is possible that this zone is below the most prospective parts of the epithermal system. The Pits Zone (blue on Fig. 1) occurs topographically above the LAZ and the alteration here consists predominantly of low temperature smectite group clays; this area in turn, is overlain by very low temperature, surface level kaolinite and alunite alteration on Felsite Hill (red on Fig. 1). Silica sinter (green on Fig. 1) is found between the Pits Zone and Felsite Hill and may represent a barren cap, which is common to most epithermal systems globally. This vertical zonation of alteration on the Property suggests that the highest grades may occur within the overburden-covered area between the LAZ and Pits Zones. Part of this covered area is highlighted by a 500 ...