Last week I had the chance to talk to Mike Blady about his company, Golden Ridge Resources, and the exciting plans him and his team have for their summer drill program. I also got his views on Gold and why investors should take a closer look at Golden Ridge Resources.
Hi Mike, Welcome to The Next Bull Market Move. You are the president, CEO, and director of Golden Ridge Resources. Give us a bit of background on how you entered the resource space and how you got involved with Golden Ridge Resources?
I started off in the business working for a securities lawyer where our main business was putting together mining transactions and mining centric IPO’s. I quickly developed an affinity for geology and the exploration business. I then returned to university and obtained a geology degree while still working with Jr. exploration and mining companies.
A few years ago I moved from Vancouver to Kelowna and got introduced to Golden Ridge Resources, a private company at the time. I started doing some consulting work for them and eventually convinced the board at the time to make the jump to a become a public listed company.
You have Larry Nagy as part of your management team, could you explain the significance of this and why he will be such a key player in the development of Golden Ridge Resources?
Larry has had an illustrious career as a mine finder and value creator for shareholders. More importantly he has had multiple success in the Golden Triangle being involved in the discoveries of both the Snip and Eskay Creek mines.
Larry’s first summer as a junior geologist in the Golden Triangle was 1965. Needless to say Larry offers a wealth of knowledge and experience surpassed by few when it comes to the triangle.
Lets talk a bit about the assets you have. You 100% own the Hank property which is located in BC’s Golden Triangle and in 2017 you drilled over 4,250 meters in 14 diamond drill holes. What did you learn from these drill holes?
Last year was the first drill program on the Hank in nearly 30 years. Most of our drilling was based off a geological model that was conceived in the mid-1880s by Lac Minerals exploration geologists (Lac was eventually bought by Barrick Gold).
Our drilling tested the lateral extent and depth of the the lower alteration zone (LAZ) which we were able to extend in strike length by over a kilometer. We learned that the model we started our drilling season did not fit with the results we were seeing.
We discovered high grade zones where we were not anticipating them and vice versa. Then late in the fall we discovered the Williams Zone which is a Au-Cu porphyry target that could potentially be the porphyritic root of our large epithermal system.
This lead to a re-working of the Hank geologic model over this past winter. We were able to consolidate the new data with the old an feel that we have a much better working model moving forward for this years drilling.
Moving on to present day, you currently have $3 million in cash and I understand that you are preparing for a 8,000m drill program very soon. Can you provide any details on this?
Sure. We plan to test the Williams Zone Au-Cu porphyry target first, this is very exciting for us as this zone didn’t exist two years ago. Confirming the bedrock samples and high-res geophysics done last year with the Williams zone maiden drilling is what being an exploration geologist is all about.
Another one of my favorite targets is the Boiling Zone which is a 500m x 500m area of up to 10 g/t Au in soil that has previously went untested by past operators.
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.
Interestingly, several quartz float boulders displaying boiling textures and carrying high-grade gold values in the 10 to 60 g/t range have been found in creeks downslope from the Boiling Zone target.
In addition to these two targets we will be following up on our successes at the LAZ extension which returned intercepts of 21.62m of 7.04g/t AuEq and 4.13m of 24.15g/t AuEq.
What are your thoughts on the current gold price and the resource mining space in general?
In terms of the gold space I think as inflation starts to grip more of the G20 countries we will see a much stronger gold market over the coming years. In addition, any economic crises depending on the severity will serve the gold price well.
In terms of the resource space in general, it is getting harder and harder to find economic deposits and they come at much higher discovery costs. This will also lead to higher commodity prices over time.
And finally, Palisade Research recently released a piece about why this summer might be the best time to take a look at Golden Ridge Resources (click here to view that research) - so is now a great time for investors to take a look at your company? And what can investors expect for the rest of the year?
Now is a great time for investors to look at Golden Ridge. Typically northern explores trade well in summer, fall and early winter as the majority of companies budgets are earmarked for this time.
Golden Ridge has a large, potentially company defining drill program currently commencing that will test our new discoveries from last summer as well as build on our successes. Once we finish at the Hank in the late fall we will be moving to southern BC to drill our Bralorne project, the Royalle, which is very exciting in it’s own right!
Many thanks Mike.
The Next Bull Market Move
For more information on Golden Ridge Resources go to https://www.goldenridgeresources.com
For the recent research piece from Palisade Research on Golden Ridge Resources go to https://palisade-research.com/golden-triangle-summer-boom/
Disclaimer - Interviews are conducted in the name of research and learning from the best. Only you can decide what makes a good speculation/investment.