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Reverse Takeover for Explorer in the Golden Triangle

Source: Streetwise Reports


October 25, 2017 ( Newswire) A company chaired by mining veteran Larry Nagy that has rights to a project in northern British Columbia's Golden Triangle has completed a reverse takeover and begins trading on the TSX Venture Exchange on Oct. 19.

Golden Ridge Resources Ltd. (GLDN:TSX.V) has announced that the TSX Venture Exchange has accepted for filing 88 Capital Corp.'s reverse takeover and related transactions, "including the acquisition of all of the issued and outstanding shares of Golden Ridge Resources." The company begins trading on the TSX Venture Exchange Oct. 19 under the symbol GLDN.

Veteran mine finder Larry Nagy chairs Golden Ridge. He was part of the discovery team at both the Eskay Creek, Canada's highest-grade gold mine, and Snip, another high-grade mine in the Golden Triangle.

The company has an option to earn 100% interest in the Hank gold-silver-copper property in the Golden Triangle in northern British Columbia. This area is home to large deposits such as Pretium's Brucejack and Seabridge Gold's KSM project.

Golden Ridge's optioned the Hank property from Barrick Gold, which acquired the project when it took over Lac Minerals. According to the company, Golden Ridge can earn a "100% interest by performing $1.7-million of exploration work by the end of 2018; this is subject to a certain back-in provision if a deposit equals or exceeds three million ounces of gold in the mineral resource category."

Historical drilling comprising 13,709 meters in 104 holes on the Hank project intercepted two zones: the Upper Alternation Zone with high-grade, epithermal sulphide veins, and the Lower Alteration Zone with a polymetallic minerals. The historical reserve is 50,000 ounces of gold at surface. The company will conduct a 7,500-meter exploration program that will drill much deeper than what was conducted historically to test the theory that grades will increase at depth.

The company announced on Sept. 1 that it has completed a $5.24 million private placement, an increase from the originally announced $3 million. Approximately 32.6 million units were issued at $0.125 per unit, and 7.5 million flow-through shares were issued at $0.15 per share.

Streetwise Reports Disclosure:

1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She owns, or members of her immediate household or family own, securities of the following companies mentioned in this article: None. She is, or members of her immediate household or family are, paid by the following companies mentioned in this article: None.

2) The following companies mentioned in the article are billboard sponsors of Streetwise Reports: Pretium Resources and Seabridge Gold. Streetwise Reports does not accept stock in exchange for its services. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Golden Ridge Resources, a company mentioned in this article.

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