A Canadian explorer reported the first assays from
two zones at its project.
Initial drill results from the Boiling zone at the Hank project revealed
that Golden
Ridge Resources Ltd. (GLDN:TSX.V) encountered a style of high-grade mineralization unlike any other seen on its property in
British Columbia's Golden Triangle, and the company stated that it
"signifies a new high-grade gold discovery."
HNK-18-010, the first of three holes drilled in the Boiling zone,
intersected 20 meters (20m) at 11.63 grams per ton (11.63 g/t) Au and 13.8
g/t Ag, including 2.85m at 67.27 g/t gold and 74.1 g/t silver.
These gold and silver grades are "associated with a
quartz-carbonate-pyrite vein stockwork which cuts altered Stuhini volcanic
rocks," according to the release, rather than with high lead-zinc
values, as is common in Hank's Lower Alteration zone.
"This new style of mineralization and high ratio of precious to base
metals indicate a higher temperature zone within the overall epithermal
system, which may be vectoring toward the core and potentially higher
grades," Chris Paul, vice president of exploration, said in the release.
As for the Kaip zone, standout hole HNK-18-004 returned 168.6m at 0.27 g/t
gold and 1.99 g/t silver, also associated with altered and brecciated Stuhini
volcanics.
Also noteworthy is that mineralization in both zones was encountered
fairly shallowly, making the potential for expansion along strike and at depth
likely, according to the company. Testing of these extensions along with
stepout drilling in the Boiling zone will comprise the company's exploration
efforts in 2019.
Golden Ridge will release assays from the pending nine drill holes once
they become available.
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