Mariposa’s Skookum Jim Anomaly Extends over 3.5 Kilometres, Trench Results, New Prospecting Discovery and Drill Targets Defined.
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N E W S R E L E A S E # 1 0 - 1 2
MARIPOSA’S SKOOKUM JIM ANOMALY EXTENDS OVER 3.5 KILOMETRES, TRENCH RESULTS, NEW PROSPECTING DISCOVERY AND DRILL TARGETS DEFINED.
Vancouver, B.C. – November 16, 2010 – Pacific Ridge Exploration Ltd. (TSX Venture: PEX) reports that additional exploration results from the Mariposa Property have expanded the overall extent of the previously reported Skookum Jim gold‐in‐soil anomaly. Results from more detailed geochemical sampling, mapping and trenching suggest gold mineralization may be hosted by northerly trending structures within the broad northeasterly trending Skookum Jim anomaly.
The 967‐claim, 190 kilometer square Mariposa Property, located in the Yukon’s South Klondike‐ White Gold camp, lies approximately 12 kilometres northeast of the northeast border of the Kaminak Coffee Gold Project.
The results of 2010 grid based soil sampling to the southwest of the original 1100 by 600 metre Skookum Jim gold anomaly has now expanded this target to a 3,500 metre length. Anomalous gold‐in‐soil values within this Skookum Jim extension range up to 358 ppb over a 300 metre wide area.
The entire Skookum Jim anomaly remains open to the north, where to‐date, permafrost conditions has inhibited soil sampling. However, stream sediment silt samples obtained from creeks draining the north flank of the anomaly returned anomalous gold values ranging up to 323 ppb gold. In addition, a recent prospecting discovery within this previously unexplored area encountered significant float (loose rock) occurrences of highly oxidized and silicified rock which appear similar to that of gold bearing rock samples from the Skookum Jim trenches. A rock sample collected from subcrop located 500 metres north of the trenches returned 2.3 g/t gold (“grams per tonne gold”) along with highly anomalous molybdenum to 517 ppm, barium to 4185 ppm and elevated arsenic values.
Five north‐trending trenches, excavated within the original 1100 by 600 metre Skookum Jim anomaly yielded anomalous gold values from rock intervals and detailed soil samples collected from the floor of the trenches. As previously reported, the best rock assays were obtained from Trench SJ‐2, where an interval returned 1.25 g/t gold over 30 metres, within a broader interval of 0.67 g/t gold over 105 metres. Selected rock samples within Trench SJ‐2 returned up to 3.54 g/t gold, and up to 521 ppm molybdenum.
Trenches SJ‐1 and SJ‐2 are spaced 200 metres apart. Midway between these trenches, a grab sample of silicified and highly oxidized subcrop returned a significant assay of 8.1 g/t gold.
| Trench | Line | Interval | Length (metres) | Gold (grams/tonne) |
|---|---|---|---|---|
| SJ 1 | 500E | 20‐25 | 5 | 3.21 |
| 155‐160 | 5 | 0.49 | ||
| SJ 2 | 700E | 150‐255 | 105 | 0.67 |
| Includes | 150‐180 | 30 | 1.25 | |
| and | 225‐235 | 10 | 1.17 |
Shallow backhoe excavation of trenches SJ‐3, SJ‐4 and SJ ‐5 , resulted in samples comprising a lesser amount of subcrop as was sampled in trench SJ‐2.
| SJ 3 | 800E | 40‐45 | 5 | 0.37 |
| SJ 4 | 900E | 105‐130 | 25 | 0.25 |
| SJ 5 | 400E | 25‐30 | 5 | 0.60 |
| 160‐165 | 5 | 0.42 |
Spatial relationships between higher grade gold values both in soils and trench rock samples suggest that gold may be preferentially hosted within northerly trending structures that intersect the overall northeast trend of the Skookum Jim gold anomaly. Within which geochemical halo, host rocks are comprised of oxidized pyrite, silica‐rich brittle fractured quartzite, quartz biotite gneiss/schist and pegmatitic granitoid lithologies.
The emerging geological setting of the Skookum Jim target exhibits several similarities to the Kaminak Coffee Creek discoveries where gold occurrences are proximal to anomalous gold‐in‐ soils, well altered rocks with an abundance of silica, oxidized pyrite (limonite) and major northerly trending geologic structures.
These recently received exploration results from the Mariposa property further confirm the prospectivity of the Skookum Jim as a priority diamond drilling target within the overall Pacific Ridge Mariposa 2011 diamond drilling program.
“John S. Brock”
John S. Brock President
Pacific Ridge’s disclosure of a technical or scientific nature has been reviewed by George Norman, P.Geo., Exploration Manager of Pacific Ridge and a Qualified Person under the definition of National Instrument 43‐ 101.
For further information, contact:
Corporate Information Investor Relations
Pacific Ridge Exploration Ltd. Manex Resource Group
John S. Brock Liana Shahinian
President Director of Investor Relations
Tel: (604) 687‐4951 Tel: (604) 641‐2773
www.pacificridgeexploration.com
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