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Golden Ridge Resources Intercepts Broad Intervals of Porphyry Style Mineralization at the Williams Zone
KELOWNA, British Columbia, July 18, 2018 (GLOBE NEWSWIRE) -- Golden Ridge Resources Ltd. (“Golden Ridge” or the “Company”) (TSXV:GLDN) is pleased to announce th
About this update from Golden Ridge Resources Ltd.
[{"type":"text","content":" KELOWNA, British Columbia, July 18, 2018 (GLOBE NEWSWIRE) -- Golden Ridge Resources Ltd. (“Golden Ridge” or the “Company”) (TSXV:GLDN) is pleased to announce that it has completed the first two holes drilled at its newly discovered Williams Zone target on the Company’s Hank project located in BC’s golden triangle. The two holes were collared 250 meters apart towards each other on section and were designed to begin testing the size and orientation of a broad magnetic high, identified during the 2017 campaign, which was coincident with outcropping rock showing strong potassic alteration, including hydrothermal k-spar, biotite, magnetic and specularite as well as disseminated chalcopyrite, bornite, covellite and digenite mineralization (see November 22nd, 2017 press release). A third hole has begun on the Williams zone and a new pad is currently being constructed 300m from the current drilling area, in order to test for the continuation of the system to the northeast. HNK-18-001 final depth was 425m collared with an azimuth of 100 degrees with a dip of -60. HNK-18-001 started on the western edge of the magnetic high anomaly. HNK-18-002 final depth was 453m collared with an azimuth of 275 degrees with a dip of -60. HNK-18-002 started on the eastern edge of the magnetic high anomaly. Both holes intersected variable phyllic and potassic alteration centered around altered monzonite intrusive dikes. Moderate to strong potassic alteration is present as broad selvages along the margins of quartz veins within the monzonite and the Stuhini volcanic country rocks. True widths of the intervals are not known at this time. Processing of core from holes 1 and 2 is nearing completion and split samples will be shipped immediately to MS Analytical labs in Terrace, BC for analysis. Results will be made available once they have been received and reviewed for Quality Assurance and Quality Control (“QAQC”). In addition to the drilling, field crews are prospecting, mapping, and sampling outcrop areas to the northeast and southwest of the main Williams Zone target to test for possible continuations of the system in these directions. Qualified Person Exploration activities at the Hank Property are being supervised by Wade Barnes, the Company’s Project Geologist and a Qualified Person as defined by National Instrument 43-101. Wade Barnes is a PG...