Golden Ridge Drills a New High-Grade Gold Discovery; Intersects 20.00 meters of 11.63 g/t Au and 13.8 g/t Ag at the Boiling Zone
GOLDEN RIDGE RESOURCES LTD.
#335 – 1632 Dickson Avenue Kelowna, BC V1Y 7T2
T: 250-717.3151 F: 250-717.1845
www.goldenridgeresources.com
News Release
Golden Ridge Drills a New High-Grade Gold Discovery; Intersects
20.00 meters of 11.63 g/t Au and 13.8 g/t Ag at the Boiling Zone
October 15, 2018 TSX-V: GLDN
GOLDEN RIDGE RESOURCES LTD. (TSX-V: GLDN) ("Golden Ridge" or the "Company") is pleased to
report the initial batch of assay results from the Boiling Zone (BZ) and Kaip Zone (K Z), located at the
Company’s Hank Project in BC’s Golden Triangle District. HNK -18-010, drilled in the Boiling Zone,
intersected 20.00 metres at 11.63 g/t Au and 13.8 g/t Ag including 2.85m at 67.27 g/t Au and 74.1 g/t
Ag. HNK-18-004, drilled in the Kaip Zone, returned 168.60 metres at 0.27 g/t Au and 1.99 g/t Ag
associated with altered and brecciated Stuhini volcanics (Figure 1).
Assay results from HNK-18-010 represent the first of three holes drilled in the Boiling Zone. Assays from
the other two BZ holes are pending and will be released immediately following receipt, review and QA/QC
checks. The mineralization intersected in the Boiling Zone is unlike other zones on the Property. Gold
and silver grades in HNK -18-010 are associated with a quartz -carbonate-pyrite vein stockwork which
cuts altered Stuhini volcanic rocks. The Au -Ag grades in hole 10 are not associated with high Pb -Zn
values as is typical of the Lower Alteration Zone (LAZ) on the Property. This new mineralization style
has not been encountered before on the Hank property and signifies a new high grade gold discovery.
Overlimit (>25 g/t Au) sample results from HNK -18-010 were re -run with a metallic screen analysis
which confirmed the presence of coarse free gold in the samples, resulting in an increase to the overall
grade.
HNK-18-004 was collared upslope from the Kaip Zone and drilled at a steep angle, with the deeper
section of the hole intersecting a broad zone of gold mineralization in the KZ (Figure 2). HNK-18-006
was collared on the same location as HNK-18-004 at a steeper dip, but failed to intersect any significant
mineralization due to steep nature of the mineralization of the Kaip Zone.
Highlights:
- New high grade discovery drilled in the Boiling Zone with a high precious:base metal ratio ,
indicating a close proximity to a hydrothermal fluid source.
-
- Assay results from two additional holes drilled in the Boiling Zone are pending.
-
- Mineralization intersected at relatively shallow depth, with potential for expansion along strike
and at depth.
Drilling Results Update:
Due to extended turnaround times at analytical laboratories in Northern BC, a ssay results are pending
for 9 remaining drill holes which have yet to be released. The Company anticipates receipt of the results
in the coming weeks and they will be released immediately following review and QA/QC checks by the
Company.
GOLDEN RIDGE RESOURCES LTD.
#335 – 1632 Dickson Avenue Kelowna, BC V1Y 7T2
T: 250-717.3151 F: 250-717.1845
www.goldenridgeresources.com
Table 1 – Significant Intercepts
Length (m)
Dip (deg) Zone Hole ID From
(m) To (m) Interval
(m)1
Au
(g/t) Ag (g/t) Zn
(ppm)
458.72
-70o KAIP
HNK-18-004 220 224 4.00 0.72 1.57 24
and 274.4 443 168.60 0.27 1.99 448
including 328 336 8.00 1.04 7.88 2487
Including 389 399 10.00 0.56 2.48 95
452.93, -80 o KAIP HNK-18-006 No Significant Values
178.92
-90o BOILING
HNK-18-010 90.5 92.5 2.00 1.32 4.93 -
and 98.5 102.5 4.00 1.12 1.09 -
and 116.0 136.0 20.00 11.63 13.84 -
including 116.0 118.85 2.85 67.27 74.12 -
1The intervals reported in these tables 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.
Comment:
Chris Paul, Vice President of Exploration for Golden Ridge, commented: “We are very pleased with the
first batch of assay results received from the Boiling 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 towards the core and potentially higher grades . We are excited at the
contemplated step-out drilling program on the Boiling Zone in 2019 and the testing of extensions along
strike and at depth.”
Data Release:
Core photos and assay tables from drill holes presented in this release will be available for download on
the Company’s website shortly.
Table 2 – Collar Information For Holes Drilled in the BZ, Kaip and LAZ
Hole ID Assays
Received UTM_83E UTM_83N Elevation
(m) Azimuth Dip Length
(m)
HNK-18-003 Received 409844.8 6343100 1157.7 318 -60 17.98
HNK-18-004 Received 409844.8 6343100 1157.7 318 -70 458.72
HNK-18-006 Received 409844.8 6343100 1157.7 318 -80 452.93
HNK-18-008 Pending 409807 6342271 1361 130 -60 449.88
HNK-18-010 Received 409807 6342271 1361 130 -90 175.87
HNK-18-011 Pending 409518 6342343 1213 300 -60 515.42
HNK-18-014 Pending 409243 6342097 1192 315 -60 392.28
HNK-18-016 Pending 409807 6342271 1361 310 -61 383.13
GOLDEN RIDGE RESOURCES LTD.
#335 – 1632 Dickson Avenue Kelowna, BC V1Y 7T2
T: 250-717.3151 F: 250-717.1845
www.goldenridgeresources.com
Quality assurance/quality control procedures:
All drill core was logged, photographed, cut and sampled by Golden Ridge personnel. Prior to shipment to
MS Analytical’s sample preparation facility in Terrace, B.C., certified reference material standards, blanks
and field duplicates were inserted at a ratio of approximately one in every 20 drill core samples. Samples
were prepared in Terrace by crushing the entire sample to 70 per cent passing minus two millimetres,
riffle splitting off one kilogram and pulverizing the split to better than 85 per cent pas sing 75 microns.
After preparation in Terrace, the prepared pulps were shipped to MS Analytical’s analytical laboratory in
Langley, B.C. The gold assays are determined by FAS-111 fire assay method which reports results in parts
per million (equivalent to grams per tonne). Any samples with a fire assay that report gold concentrations
equal to or higher than 10.0 g/t Au are analyzed by metallic screen method (Au-SCR24).
Base metal and silver assays are determined by IMS-139 2-acid digestion with ICP-AES/MS finish method,
which reports results as parts per million (ppm). All analyses that reach the overlimit of IMS -139 are
reanalyzed with an ore-grade method. The analytical results are verified with the application of industry-
standard quality control and quality assurance procedures.
Qualified Person
Wade Barnes, P.Geo., the Company’s Project Geologist, is the Qualified Person as defined by National
Instrument 43-101 who supervised the work program and preparation of 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 currently has an option to acquire 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. Golden Ridge may ea rn the 100%
interest in the Hank property by performing $1.7M of exploration work by the end of 2018.
ON BEHALF OF THE BOARD OF DIRECTORS OF
GOLDEN RIDGE RESOURCES LTD.
“Mike Blady”
Mike Blady
President and Chief Executive Officer
For more information regarding this news release, please contact:
Mike Blady, CEO and Director
T: 250-717.3151
F: 250-717.1845
W: www.goldenridgeresources.com
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:
GOLDEN RIDGE RESOURCES LTD.
#335 – 1632 Dickson Avenue Kelowna, BC V1Y 7T2
T: 250-717.3151 F: 250-717.1845
www.goldenridgeresources.com
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 consisten t 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 Compa ny'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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.