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Highlights
Intercepted visible gold (VG) in hole
WIL-22 -014 (Photos 1 & 2)WIL-22 -14: 0.5 meters of 50.45 g/t Au from 11 to 11.5 meters (Table 1)WIL-22 -12: 37.8 meters of 0.7 g/t Au from 6.24 to 44.07 meters (Table 1)The Appleton Fault Corridor within the Property shows broad intervals of alteration and sulphide mineralization
Inaugural drilling at Williams has consistently intersected near-surface gold mineralization in multiple zones over 1.5 kilometers apart in the first fourteen holes that have received assays
Drilling at Williams was focused along the main forest service road accessing the southeastern portion of the project. Holes were staged from this access road and provided important geological and analytical information, which was used to form the basis of Golden Ridge’s geologic model which will continue to progress as additional assays are reported.
The drilling program at the Williams Gold Property follows up extensive prospecting, high density soil sampling, and trenching by Golden Ridge. The initial drill results show multiple mineralized fault zones associated with the previously reported large gold-in-soil anomalies. The 2022 drill program was focused on testing the large gold-in-soil anomalies and trench sampling. Gold mineralization is associated with minor to pervasive sericite alteration surrounding quartz-carbonate veins with variable pyrite, chalcopyrite, pyrrhotite, arsenopyrite and antimony sulfides. As is the case with most projects located near the Appleton Fault Corridor structural controls play an important part in the development of gold mineralization on the Property.
“Initial results from the first fourteen holes at the Williams Gold Property show robust gold mineralization within multiple fault systems. Golden Ridge is very excited to see the strong correlation between gold-in-soil anomalies and gold mineralization observed in core. Intersecting visible gold in the maiden program demonstrates the fertile nature of the Property. Broad intervals of shallow mineralization also suggest the potential for larger mineralized systems along strike and at depth. Relative to our peers in the area I think we are off to an exceptional start, and we are eagerly awaiting results from the remaining fifteen holes testing multiple zones within our 4km swath of Appleton Fault Corridor at the Williams Gold Property”, stated
Table 1 – 2022 Holes 1 - 14 Highlighted Intercepts2
Table 2 – 2022 Holes 1 – 14 Collar Locations
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1This news release contains information about adjacent properties on which Golden Ridge has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties.
2The intervals reported in these tables represent drilling intersects and insufficient data are available at this time to state the true thickness of the mineralized intervals.
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Photo 1 – Visible gold within quartz carbonate veining including pyrite and arsenopyrite mineralization and sericite alteration in the host rock within
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Photo 2 – Visible gold (mm scale) close up in
Sampling & Laboratory Methodology:
True widths of the report intersections have not been calculated at this time. Drilling was primarily conducted in HQ, however, NQ was used when ground conditions required it. Drill core was split using a diamond core cutting saw.
Samples were sent either to
Qualified Person:
Dr.
Acknowledgments:
About
Golden Ridge is a TSX-V listed exploration company engaged in acquiring and advancing mineral properties located in
Chief Executive Officer
Tel: (250) 717-3151
Website: 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: 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 consistent 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 Company's profile atwww.sedar.com. There can be no assurance that any forward-lookinginformation 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.
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