Golden Ridge Resources Makes Another Major Discovery in the ‘Golden Triangle’

Palisade Research October 15, 2018
Category: Research

Share Price: C$0.28

Shares Outstanding: 78.9M

Market Capitalization: C$21.8M

Cash: ~C$3.0M

Total Liabilities: ~C$0.6M

 

President and CEO of Golden Ridge Resources (TSX-V:GLDN OTC:GORIF) – Mike Blady – believes that there’s bonanza grades associated with elevation-controlled boiling zones.

This theory’s validated from the outcrop and disseminated low-grade gold sitting at surface.

Now – in the past – drilling was only limited to shallow holes – completely missing the much deeper Boiling Zone target.

But over the summer – the lion’s share of the drilling was allocated to exploring this target.

And Mike’s theory was finally proven correct. . .

This morning, the company released results from HNK-18-010 – drilled in the Boiling Zone – which intersected 20.00 meters at 11.63 g/t Au and 13.8 g/t Ag including 2.85 meters at 67.27 g/t Au and 74.1 g/t Ag.

The gold and silver at the Boiling Zone are unique – the grades are associated with a quartz-carbonate-pyrite vein stockwork which cuts altered Stuhini volcanic rocks.

The gold and silver were previously associated with high lead and zinc values. But this new style of mineralization indicates a higher temperature zone within the overall epithermal system.

And this means much higher grades.

Golden Ridge has another two holes coming from the Boiling Zone. We expect the same high-grade results.

 

Palisade Global Investments Limited holds shares of Golden Ridge Resources. We receive either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate. The information contained in such write-ups is not intended as individual investment advice and is not designed to meet your personal financial situation. Information contained in this report’s from sources we believe to be reliable, but its accuracy cannot be guaranteed. The opinions expressed in this report are those of Palisade Global Investments and are subject to change without notice. The information in this report may become outdated and there is no obligation to update any such information. Do your own due diligence.

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