I caught up with Mike Blady yesterday to talk about the latest results for Golden Ridge Resources and what this will mean for the company going forward.
Hi Mike, welcome back the The Next Bull Market Move. Let’s go through some of the highlights from your news release today. The initial batch of assay results from the Boiling Zone and Kaip Zone within your hank property have come back with extremely positive results.
So, lets focus on the hole that was drilled in the Boiling Zone, where it intersected 20.00 metres at 11.63 g/t Au and 13.8 g/t Ag and 2.85m of 67.27 g/t Au and 74.12 gt/t Ag. Can you explain the significance of this hole?
Thanks Kerem, glad to be back. The maiden hole in the Boiling Zone (BZ) is very exciting for our company as this new bonaza grade discovery shows a high ratio of precious to base metals indicate a higher temperature zone within the overall epithermal system, which may be vectoring towards the core which could contain higher grades.
We have now drilled gold mineralization south of Hank Creek over 1km in strike length, with this hole in the BZ being the highest grade to date in a previously untested area.
It also appears that the precious metal to base metal ratio is very high within this hole, so what does this tell you? Perhaps you are looking at a new type of mineralization style within the hank property?
This tells us that we are potentially vectoring in on the source of more bonaza grade Au and Ag. I would agree with you that we are looking at a new type of mineralization. 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 lead-zinc values as is typical of the lower alteration zone (LAZ) on the property.
From the results you have so far, what kind of picture is this beginning to show - are we looking at a brand new high grade gold discovery in the making?
The BZ, was until today, a conceptual target that was based of a large 500m x 500m gold in soil anomaly of up to 10 g/t gold in soil. What was interesting was this anomaly overlaid a terra-spec anomaly that correspond with clay species associated with gold precipitating zones in other high-grade epithermal deposits. Precipitation of gold in epithermal systems typically occurs within vertically constrained zones in which ascending hydrothermal fluids boil and precipitate gold within colloform-banded quartz veins.
The discovery hole is in the books. More is now needed to confirm size, grade and continuity. We are looking forward to the challenge.
What news results can investors expect within the next few months?
We still have results from 60% of our 2018 drill program yet to be release. We hope to have these results over the next several weeks and well into November. We will also be beginning to start working on our southwestern BC property, the Royalle project which is located adjacent to the historic Bralorne and Pioneer mines. In addition, we will be hard at work revising our geologic model as we have now collected a large amount of data over the last two years.
And finally, does this new set of results point the project into a brand-new direction?
It’s always nice to make a new discovery and drill the best high-grade gold results on the Hank project to date. At the same time, its only the first hole in the BZ and we are looking forward to more assays and planning additional follow-up holes for 2019.
We are also excited about our discovery North of Hank creek at the William’s zone. This Au-Cu porphryr target will also be a big focus for us for the remainder of 2018 and into the 2019 drill season and we look forward to testing this target at depth and along strike. Who knows, the two systems could be related and part of one larger complex. Only time will tell if that theory holds weight, we are excited to have the opportunity to find out.
Many thanks Mike.
The Next Bull Market Move
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