The Gold Report - Thu, Nov 29, 2018

Final Drill Results Confirm Significant Cu-Au Porphyry on Golden Triangle Asset

The mineralization at this explorer's project in British Columbia remains open in two directions.

Miner

Golden Ridge Resources Ltd. (GLDN:TSX.V) announced in a news release that the remaining drill holes on its Hank project confirm a significant copper-gold porphyry discovery in the Williams zone. Several 2018 drill holes ended in mineralization, leaving the system open at depth and laterally.

As for highlight assays from this asset in British Columbia's Golden Triangle, hole HNK-18-013 intersected 319 meters (319m) of 0.42 grams per ton (0.42 g/t) gold, 0.34% copper and 2.20 g/t silver, or 0.96 g/t gold equivalent. This included 131m of 0.68 g/t gold, 0.55% copper and 3.34 g/t silver, or 1.56 g/t gold equivalent. Hole HNK-18-013 was placed to the northeast of 2018 drill holes 001, 002 and 005.

Hole HNK-18-007 intersected 176.5m of 0.21 g/t gold, 0.20% copper and 2.51 g/t silver, or 0.54 g/t gold equivalent, between 427 and 603.50m. That included 30.92m of 0.21 g/t gold, 0.33% copper and 4.77 g/t silver, or 0.77 g/t gold equivalent, between 432.08 and 463m. HNK-18-007 was drilled to the southwest of 2018 hole 001, outside the Williams zone.

Other results, these being the final outcomes from the 2018 induced polarization geophysical imaging, show "a strong correlation between chargeability and mineralization," indicating significant room for expansion of the Williams porphyry.

The next step, according to the company, is for Golden Ridge to test the system at Hank in numerous directions, using larger drill rigs and focusing on the Williams zone. The goal is to further delineate the "size and tenor of the company's 2018 Cu-Au porphyry discovery," said Chris Paul, vice president of exploration, in the release.

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