(TheNewswire)
Kelowna, British Columbia – TheNewswire - September 14, 2022 - Golden Ridge ResourcesLtd. (“Golden Ridge” or “the Company”) (TSXV:GLDN) (OTC:GORIF) is pleasedto announce commencement of a 5,000m drilling program at the WilliamsGold Property (“Williams” or “the Property”), that issurrounded by New Found Gold Corp (NFGC)’s Queensway South GoldProperty in the Central Newfoundland Gold Belt of the province ofNewfoundland and Labrador (Figure 1). 1 The maiden diamond-drillingprogram at Williams is focused on robust gold anomalies in soil and intrenches in the south and central portions of the property. Extensive prospecting, high-density soil sampling, and trenchingwere conducted during the 2021 and 2022 field seasons and highlightedstrong anomalies within the Appleton and Dog Bay Fault Corridors. High-density soil sampling conducted in 2022 successfully extendedsoil anomalies identified during the 2021 field program, as well asdetecting potential parallel mineralized zones.
High-Tenor Gold-in-Soil AnomaliesExtended
Golden Ridge successfully extended gold-in-soil anomalies within theAppleton Fault Corridor in the southern portion of the Williams GoldProperty. Golden Ridge has highlighted multiple large soil anomalieswith Au values up to 1,503 ppb (see October 26, 2020 & March10,2022; Figure 2). Golden Ridge has taken an additional 623 soilsamples in 2022 and will continue to utilize this method as targetsdevelop.
“After several years of systematic greenfield exploration, theanomalies identified within the dataset that we have put together atWilliams are very compelling and suggest the potential for significantgold mineralization. We are very excited to test the stronggold-in-soil anomalies along the Appleton Fault Corridor with ourmaiden drill program on the Williams Property. Significantly improvedassay lab turnaround times in 2022 will improve Golden Ridge’sability to conduct methodical and dynamic exploration not only atWilliams but across the island.”, stated Mike Blady, Director, CEOand President of Golden Ridge.
1 This news release contains informationabout adjacent properties on which Golden Ridge has no right toexplore or mine. Readers are cautioned that mineral deposits onadjacent properties are not indicative of mineral deposits on theCompany’s properties
Qualified Person:
Dr. Stephen Amor, PhD, PGeo, technical advisor to the Company, is theQualified Person as defined by National Instrument 43-101 who hasreviewed and approved the technical data in this news release.
Acknowledgments:
Golden Ridge Resources acknowledges the financial support of theJunior Exploration Assistance Program, Department of Industry, Energy,and Technology, Government of Newfoundland and Labrador.
About Golden Ridge Resources:
Golden Ridge is a TSX-V listed exploration company engaged inacquiring and advancing mineral properties located in Newfoundland andBritish Columbia. Golden Ridge is currently focused on explorationand development of its portfolio of exploration assets inNewfoundland. The Company owns a 100% interest in the 1,700-hectareHank copper-gold-silver-lead-zinc property and the 3,000-hectareHickman copper-gold property located in the Golden Triangle district,approximately 140 kilometres north of Stewart, British Columbia andhas a portfolio of exploration projects in Newfoundland.
Golden Ridge Resources Ltd.
Mike Blady
Chief Executive Officer
Tel: (250) 717-3151
Website: www.goldenridgeresources.com
Cautionary NoteRegarding Forward-Looking Statements
Certain statementscontained in this news release, constitute "forward-lookinginformation" as such term is used in applicable Canadiansecurities laws. Forward-looking information is based on plans,expectations and estimates of management at the date the informationis provided and is subject to certain factors and assumptions,including: that the Company's financial condition and developmentplans do not change as a result of unforeseen events, that the Companyobtains required regulatory approvals, that the Company continues tomaintain a good relationship with the local project communities.Forward-looking information is subject to a variety of risks anduncertainties and other factors that could cause plans, estimates andactual results to vary materially from those projected in suchforward-looking information. Factors that could cause theforward-looking information in this news release to change or to beinaccurate include, but are not limited to, the risk that any of theassumptions referred to prove not to be valid or reliable, which couldresult in delays, or cessation in planned work, that the Company'sfinancial condition and development plans change, delays in regulatoryapproval, risks associated with the interpretation of data, thegeology, grade and continuity of mineral deposits, the possibilitythat results will not be consistent with the Company's expectations,as well as the other risks and uncertainties applicable to mineralexploration and development activities and to the Company as set forthin the Company's Management’s Discussion and Analysis reports filedunder the Company's profile at www.sedar.com . There can be no assurancethat any forward-looking information will prove to be accurate, asactual results and future events could differ materially from thoseanticipated in such statements. Accordingly, the reader should notplace any undue reliance on forward-looking information or statements.The Company undertakes no obligation to update forward-lookinginformation or statements, other than as required by applicablelaw.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release .
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