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Golden Ridge Resources Releases Results of 2018 IP Survey on the Williams Zone
KELOWNA, British Columbia, Aug. 27, 2018 (GLOBE NEWSWIRE) -- GOLDEN RIDGE RESOURCES LTD. (TSX-V: GLDN) ("Golden Ridge" or the "Company") is pleased to report fi
About this update from Golden Ridge Resources Ltd.
[{"type":"text","content":" KELOWNA, British Columbia, Aug. 27, 2018 (GLOBE NEWSWIRE) -- GOLDEN RIDGE RESOURCES LTD. (TSX-V: GLDN) (\"Golden Ridge\" or the \"Company\") is pleased to report final results from a Phase I induced polarization (“IP”) survey which was recently completed on the Company’s Hank project, located in British Columbia’s prolific Golden Triangle district. The IP survey was completed by Peter E. Walcott & Associates, based out of Vancouver, BC. Preliminary results from the survey were previously discussed in a Company news release on Aug 14, 2018. The IP survey successfully delineated a strong chargeability anomaly which is coincident with the porphyry mineralization drilled in the Williams Zone in 2018. Two 3km long IP lines were completed during the Phase I survey and the anomaly is open along strike to the north and south and at depth. See Figure 1 for a plan map showing the location of lines 0 and 200. Line 200 was 3 kilometres in length and centered on the 2018 Williams Zone drilling, revealing an approximately 600 metre wide chargeability high (>30 mv/V and up to 40 mV/V in intensity) which correlates with the porphyry style mineralization encountered in the 2018 drilling. The chargeability anomaly expands to the northeast at depth. See Figure 2 for cross-section. Line 0 was also 3 kilometres in length and parallel with line 200. The line was centered immediately southeast of the Williams Zone drilling and encountered a similar chargeability intensity anomaly, which is slightly deeper and offset to the southeast of the anomaly encountered on Line 200, suggesting the mineralization may plunge in that direction. See Figure 3 for cross-section. The chargeability anomaly on line 0 is on trend with the Lower Alteration Zone (LAZ) mapped on the other side of Hank Creek. Historic mapping ended on the southeast side of Hank Creek and the Williams Zone was not mapped historically. The new 2018 IP data suggests that the >3 kilometer long LAZ continues across Hank Creek and may connect with the Williams Zone. The LAZ is characterized by precious metal rich lead-zinc veins hosted within pervasive quartz-sericite-carbonate-pyrite altered volcanic rocks, which is a typical alteration assemblage flanking or overlying many alkalic porphyry systems in the Golden Triangle. Due to the success of the Phase I survey in correlating chargeabi...