Property: 4 claims covering 1,700 ha
Location: Northwest British Columbia approximately 140 km north of Stewart, BC
1) High grade epithermal style gold-silver veins, surrounded by bulk tonnage Au-Ag-Pb-Zn mineralization in altered host rocks at the Lower Alteration Zone (LAZ) and Upper Alteration Zone (UAZ).
2) Bulk tonnage alkalic porphyry copper-gold mineralization, similar to the producing Red Chris mine.
Geology: All mineralized zones on the Property are hosted within Stuhini Group volcanic and volcaniclastic strata, as well as alkaline stocks and dykes which intrude into the volcanic package and show a clear spatial association with the mineralized zones. Geological studies have suggested the intrusions were the likely source of hydrothermal fluids and gold-silver-lead-zinc mineralization on the Property. The Upper Alteration Zone is adjacent to an important unconformable contact between the Upper Triassic Stuhini Group and Lower Jurassic Hazelton Group. The unconformity, referred to as the “red line” was recently recognized by Joanne Nelson and Jeff Kyba of the BC Geological Survey (BCGS) as playing a major role in the emplacement of all significant mineral deposits within the Golden Triangle district including Brucejack, KSM, Schaft Creek, Galore Creek, Spectrum, Saddle (GT Gold) and Red Chris. The Stuhini-Hazelton transition cuts the southwest portion of the Property as indicated by the thick red line in the regional geology figure below. A feldspar megacrystic stock, known as the Bald Bluff Porphyry intrudes along its northern edge and was interpreted by Kaip (1997) as the source of the mineralizing fluids at Hank. 2017 drilling in the Lower Alteration Zone intersected intrusive rocks similar in texture and composition to the Bald Bluff Porphyry, which have a clear spatial association with high grade gold-silver mineralization. 2018 work will be focused on mapping the intrusive rocks on the Property and refining the current drill targets.
Historic work by previous operators identified a >4km long by >2km wide Au-in-soil anomaly with values up to 7180 ppb (7.2 g/t Au in soil). Two main alteration zones were mapped, the Upper Alteration Zone (UAZ) and Lower Alteration Zone (LAZ), which both average 250 meters in true thickness and trend sub parallel with the soil anomaly. Highly anomalous gold values occur throughout the UAZ and LAZ and surround high grade Au-Ag (+/- base metal) veins. A shallow 1985 drilling program by Lac Minerals Ltd. outlined a small zone within the UAZ (the 220 and 400 pits zone) which contains a calculated 50,000 oz Au resource grading between 2.5-4.5 g/t Au. Much of the historic work was focused on the UAZ, while the 4.5 km long LAZ remains largely untested.
In 2014, soil sampling around the historic grid was conducted as well as an airborne magnetic survey and Terraspec analysis of bedrock samples collected on a local grid for alteration characterization.
Further soil sampling was carried out in 2016 which resulted in the identification of a significant Cu-Au anomaly (now termed the Williams Zone) which is coincident with a magnetic high anomaly from the 2014 survey. A high resolution 3D IP survey was also carried out over parts of the UAZ and LAZ, which was successful in generating additional drill targets.
In 2017, Golden Ridge carried out its first ever drill program, the first in over 24 years on the Property. Several strong Au-Ag-Pb-Zn intercepts were encountered including:
The remainder of the assays from the 2017 drill program (holes 3-14) are still pending.
A ground magnetic survey was also carried out over the Williams Zone Cu-Au anomaly identified in 2016. This survey resulted in a very well defined magnetic anomaly coincident with the high soil geochemistry. Follow-up hand trenching within the center of the magnetic anomaly discovered chalcopyrite and bornite mineralization hosted within a strongly potassic altered monzonite intrusive centred on an intrusive breccia pipe, interpreted to be the potassic core of a porphyry Cu-Au system.
Investors are cautioned that the exploration target at Hank is an early-stage exploration prospect and is conceptual in nature. There has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
C. Mark Rebagliati, P.Eng., Geological Consultant to the Company is the Qualified Person as defined by National Instrument 43-101 who supervised the work program and preparation of the technical data on this website.
All drill core was logged, photographed, cut and sampled by Golden Ridge personnel. Prior to shipment to ALS Global'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 passing 75 microns. After preparation in Terrace, the prepared pulps were shipped to ALS Global's analytical laboratory in North Vancouver, B.C. The gold assays are determined by Au-AA26 fire assay method which reports results in parts per million (ppm) (equivalent to grams per tonne (g/t)). Any samples with a fire assay that report gold concentrations equal to or higher than 1.0 g/t Au are analyzed by screen metallic method (Au-SCR24).
Base metal assays are first determined using the ME-MS41 method, which reports results as parts per million (ppm). All analyses that reach the overlimits of ME-MS41 are reanalyzed with an ore-grade method. The analytical results are verified with the application of industry-standard quality control and quality assurance procedures.