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Golden Ridge Resources Signs Option Agreement with Kingfisher Metals to Option the Hank Au-Cu-Ag Project, British Columbia
(TheNewswire) Kelowna, British Columbia – TheNewswire - March 7, 2023 - Gold...
About this update from Golden Ridge Resources Ltd.
[{"type":"text","content":"Golden Ridge Resources Signs Option Agreement with Kingfisher Metals to Option the Hank Au-Cu-Ag Project, British Columbia\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Kelowna, British Columbia –\n \n \n TheNewswire -\n \n \n March 7, 2023 - Golden Ridge Resources Ltd.\n(“Golden Ridge” or “the Company”) (TSXV:GLDN)\n \n is\npleased to announce it has entered into an option agreement (the\n“\n \n Option\n \n ”) with Kingfisher\nMetals Ltd. (“\n \n Kingfisher\n \n \"), a TSX Venture listed issuer, to divest its\n100% interest in the Hank property (“\n \n Hank\n \n ” or the “\n \n Hank\nProperty\n \n ”) located in northwestern British Columbia, Canada.\nThe Hank Property consists of 1,700-hectares and is located in the\nheart of the Golden Triangle district, approximately 140 kilometers\nnorth of Stewart BC.\n \n \n \n Michael Blady, President and CEO of\nGolden Ridge stated: “Kingfisher has put in place a team of Golden\nTriangle experts whose knowledge and experience will be an asset to\ncontinue the exploration development of the Hank. We are pleased to\nsign this Option Agreement and allow Kingfisher the opportunity to\nunlock the potential of the Hank. The transaction represents an\naccretive property transaction for Golden Ridge and its\nshareholders.”\n \n \n \n \n Hank Au-Cu-Ag Project\n \n \n \n The Hank consists of an epithermal Au-Ag system that was first\ndiscovered in the early 1980s and the Williams porphyry that was\ndiscovered by Golden Ridge in 2017 and drill tested in 2018-19. The\nWilliams porphyry is considered to be a high-level porphyry feeder to\nthe Hank Au-Ag system although based on the 6 km lateral extent to the\nepithermal system, it is likely that more porphyry centers exist in\nthe area. Future work at the Hank will focus on defining the limits of\nthe system and vectoring towards a copper-rich core zone as well as\ninfill drilling across historical areas with the goal of producing a\ncompliant resource.\n \n \n \n Option Agreement\n \n \n \n Pursuant to the terms of the Option, Kingfisher has the right to earn\na 100% interest in the Hank Property  subject to a 3% net smelter\nreturn royalty held by a third party (the “\n \n Hank NSR Royalty\n \n ”) as follows...