Business
Golden Ridge Resources Drills 4.13 Metres of 24.15 g/t Gold Equivalent at Hank Property in Golden Triangle
KELOWNA, British Columbia, Nov. 08, 2017 (GLOBE NEWSWIRE) -- Golden Ridge Resources Ltd. (“Golden Ridge” or the “Company”) (TSXV:GLDN). Golden Ridge is pleased
About this update from Golden Ridge Resources Ltd.
[{"type":"text","content":"KELOWNA, British Columbia, Nov. 08, 2017 (GLOBE NEWSWIRE) -- Golden Ridge Resources Ltd. (“Golden Ridge” or the “Company”) (TSXV:GLDN). Golden Ridge is pleased to report initial results for the first 2 diamond drill holes at its Hank Property (“Hank” or the “Property”) in northwestern British Columbia, Canada. HNK-17-001 returned 24.15 g/t AuEq* over 4.13 meters, while HNK-17-002 returned 107.90 g/t AuEq* over 0.55 meters. Both holes were drilled at the same azimuth from pad number one on the Property’s Lower Alteration Zone (LAZ), to test the continuity of mineralization at depth (Figure 1). The 2017 drill program was completed in early October and total meterage was 4249.52m in 14 drill holes. Assay results are pending for the remaining 12 holes and will be released over the coming weeks as they are received. Lower Alteration Zone Drilling Highlights: Shear zone hosted, galena-sphalerite veins were intercepted in all 13 holes drilled over a 1200m strike length in the Lower Alteration Zone (LAZ). Assays are pending for holes 3-14. Assays from the first two holes indicate significant gold and silver values occur with the galena and sphalerite (lead and zinc) veins. Mineralization remains open along strike and at depth in all LAZ holes. Surface mapping indicates a strike length of at least 2.5 km for the LAZ and 2.7 km for the Upper Alteration Zone (UAZ). Cross-section shows shear zones to be steeply southwest dipping with good continuity on section. Anomalous gold equivalent (AuEq) values occur throughout the >170m true width of the LAZ surrounding the higher-grade structure. Drill hole’s HNK-17-001 and HNK-17-002 were drilled at an azimuth of 310o at dips of -61o and -47o respectively within the southwestern portion of the LAZ, between creeks 4 and 5 (Figure 1). The holes were collared within the LAZ, which consists of moderate to strong sericite-carbonate-pyrite alteration of mostly fragmental volcanic rocks of the Stuhini Group. Cross-sections through the LAZ pads show the upper and lower boundaries of the alteration zone to be sub-vertically dipping and cross-cutting the shallow southwest dipping Stuhini volcanic package, indicating a structural control to the mineralization (Figure 2). In the first two holes, anomalous gold-silver-lead-zinc concentrations occur throughout the alteration zone which is at least 170 meters ...