Golden Ridge Resources Ltd. (GLDN:TSX.V) has begun drilling at the Hank project located in the province's Golden Triangle.
The company last week received authorization from the British Columbia Ministry of Energy, Mines and Petroleum Resources to drill. The agency allotted the company a maximum of 60 sites to drill and five years in which to do so.
It also permitted Golden Ridge to develop a camp within 15 kilometers of the property on Highway 37, "which will minimize helicopter flight time and maintain low cost highway access," the news release noted. Camp construction is now completed.
The first target is the Williams zone, "a newly discovered alkalic copper-gold porphyry system centered on a potassic altered, 400 meter diameter breccia pipe," according to the company.
A second drill will begin testing the newly discovered Kaip zone, which "returned 21.62m of 6.26g/t Au and 52.1g/t Ag in hole HNK-17-009."
In advance of exploration, Golden Ridge hired geologist Wade Barnes as a consultant. A 2016 award winner for excellence in prospecting and exploration, Barnes has 14 years of experience with British Columbia exploration, most recently with Centerra Gold. "Wade's mine feasibility and economics expertise will add excellent value to the exploration and development of the Hank project," said CEO Michael Blady.
The 2018 drill program will include at least 6,000 meters of core drilling, which is set to test five new high-priority targets. The company noted that the 2018 program will "satisfy the remaining approximate $100,000 in exploration expenditures required to earn a 100-per-cent interest in the Hank property from Lac Properties Inc. (subsidiary of Barrick Gold Corp)."
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1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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