Golden Ridge Resources Makes Another Major Discovery in the ‘Golden Triangle’
Share Price: C$0.28
Shares Outstanding: 78.9M
Market Capitalization: C$21.8M
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.
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