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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