Golden Ridge said "strongly anomalous molybdenum and silver was encountered from top to bottom" of the hole, with molybdenum typically occurring on the shoulders of several other similar-aged copper-gold porphyry systems throughout the Golden Triangle, including KSM.

"Strong albite alteration also occurred throughout, indicating the hole intersected a deeper portion of the Ball Creek, Main Zone porphyry system," it said.

Goat is one of the seven gold-copper porphyry targets at Ball Creek, which also has four gold-silver epithermal targets.

The explorer has the option to earn 80% of Ball Creek under an option agreement with Evrim Resources struck in July.

The 524sq.km Ball Creek project surrounds Golden Ridge's 100%-owned Hank property.

The company had completed its option agreement with Barrick Gold 12 months ago to earn 100% of Hank, where it announced making the Williams and Boiling zone gold discoveries last year.

Golden Ridge shares gained 25% - or 0.5c - yesterday to close at 2.5c, capitalising it at $2.5 million (US$1.9 million).

Its shares have slid from a high of 19.5c in June to 1.5c on Monday.

The company had raised C$2.8 million in May at 12.5c per unit and 16.5c per flow-through unit.

It had just over $3 million (US$2.3 million) in working capital at June 30.