June 14, 2019 / TheNewswire / Kelowna, British Columbia – Golden Ridge Resources Ltd. (TSX-V: GLDN) ("Golden Ridge" or the "Company") is pleased to announce that crews have been mobilized, and drilling has commenced at it’s 100% owned Hank Project (“Hank” or the “Property”), located in BC’s prolific Golden Triangle. Details about the 2019 program can be found in a Company news release dated May 23, 2019. The first hole of the program is designed to test the northeast extension of the Williams Zone beyond HNK-18-013 which returned 318.73m* of 0.42g/t Au, 0.34% Cu, and 2.20g/t Ag. Drill pad construction for HNK-19-002 and HNK19-003 in the Boiling Zone, and HNK-19-004 and HNK-19-005 in the Creek Zone has begun and is expected to be completed within the week.
- 2019 drilling will focus on expanding upon two drilling discoveries made by the Company during the 2018 campaign at the Williams (HNK-18-013: 318.73m* of 0.42g/t Au, 0.34% Cu, and 2.20g/t Ag) and Boiling (HNK-18-010: 20.00m* of 11.63g/t Au and 13.8g/t Ag) Zones.
- The 2019 campaign will utilize a Zinex A5 heli-portable drill rig with drilling capabilities down to 1325m (NQ), allowing the Company to test the Williams Zone at far greater depths then possible during the 2018 campaign.
- Golden Ridge will be operating from the Company’s exploration camp located on Highway 37, within 15 kilometres of the project, allowing for low-cost highway access and minimal flight times during the 2019 campaign.
Mike Blady, C.E.O, president, and Director of Golden Ridge, commented: “We are very excited to be commencing our field season nearly a month earlier than last year. A low snowpack and early spring will allow us to aggressively test and build out on our two new drilling discoveries from last year. 2019 will be a defining year for our Company as we continue to unlock the potential of the Hank project.”
*The intervals reported represent drill intercepts and insufficient data are available at this time to state the true thickness of the mineralized intervals. All gold values are uncut.
William Yeomans, P.Geo., technical advisor to the Company, is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the technical data in this news release.
About Golden Ridge
Golden Ridge is a TSX-V listed exploration company engaged in acquiring and advancing mineral properties located in British Columbia. Golden Ridge owns a 100% interest in the 1,700-hectare Hank copper-gold-silver-lead-zinc property located in the Golden Triangle district, approximately 140 kilometres north of Stewart, British Columbia.
ON BEHALF OF THE BOARD OF DIRECTORS OF
GOLDEN RIDGE RESOURCES LTD.
President and Chief Executive Officer
For more information regarding this news release, please contact:
Mike Blady, CEO and Director
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including: that the Company's financial condition and development plans do not change as a result of unforeseen events, that the Company obtains required regulatory approvals, that the Company continues to maintain a good relationship with the local project communities. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, which could result in delays, or cessation in planned work, that the Company's financial condition and development plans change, delays in regulatory approval, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company's expectations, as well as the other risks and uncertainties applicable to mineral exploration and development activities and to the Company as set forth in the Company's Management’s Discussion and Analysis reports filed under the Company's profile at www.sedar.com. There can be no assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. The Company undertakes no obligation to update forward-looking information or statements, other than as required by applicable law.
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