Pacific Ridge Announces 2019 Drill Plans for the Spius Copper Project
Pacific Ridge Announces 2019 Drill Plans for the Spius
Copper Project
Vancouver, British Columbia--(Newsfile Corp. - March 21, 2019) - Pacific Ridge Exploration Ltd. (TSXV: PEX) ("Pacific Ridge"
or the "Company") reports on a planned 1,250 m drill program for its road accessible Spius copper porphyry prospect located
40 km southwest of Merritt, British Columbia. The program is planned for June 2019 and will consist of four to six holes. The
drilling will target copper soil anomalies supported by zones of enhanced IP chargeability with high resistivity.
The Spius property was explored for its porphyry potential in the 1960's and early 1970's. Exploration focused on a gossan area
where work included an IP survey, trenching and 27 percussion and core drill holes. The drilling was shallow, with none of the drill
holes exceeding 100 m. Drill logs and assay results have been lost. However, a 1969 assessment report noted that hole 2, of a
5-hole drill program, ended in 8 feet (191 to 199 ft.) of 0.4% Cu. This hole is located on the inner edge of the interpreted pyrite
halo and on the edge of the copper soil anomaly. Two recently collected float samples of porphyry style mineralization with
disseminated pyrite and chalcopyrite assayed 2.53% Cu and 1.43% Cu. The Company believes that the original gossan area
and IP anomaly are the pyritic halo to a potential core copper zone, as reflected by the soil copper anomaly and mineralized
float.
Soil geochemical surveys at Spius over the past several years have defined a central copper soil anomaly, 900 m by 750 m and
open to the south, ranging from 100 ppm to plus 4,000 ppm Cu. The IP survey confirmed and expanded an earlier survey from
the 1960's, providing greater detail and depth penetration and defining a horseshoe-shaped, high chargeability anomaly that
envelopes the copper soil anomaly. The chargeability anomaly is believed to represent the pyritic halo of a porphyry copper
system, surrounding a copper mineralized shell or core zone. The copper zone drill target is defined by the high copper in soils
and supported by underlying zones of moderate chargeability and high resistivity.
Other News
The Company has terminated its option to earn an interest in the TL Zinc project.
The Company also reports that Four Nines Gold Inc.'s option to earn an interest in the Company's Mariposa gold project has
terminated.
About Pacific Ridge
Pacific Ridge has assembled a portfolio of highly-prospective gold and base metal projects located in the Yukon and British
Columbia, where its board and management team have a track record of success. Its holdings include the Mariposa, Eureka
Dome and Gold Cap gold exploration projects in the Klondike-White Gold District, Fyre Lake in the Finlayson District and Spius
Cu-Mo-Au porphyry in southern British Columbia.
On behalf of the Board of Directors,
"Gerald G. Carlson"
Gerald G. Carlson
President & CEO
Pacific Ridge Exploration Ltd.
For further information, contact:
Pacific Ridge Exploration Ltd.
Gerald G. Carlson
President & CEO
Tel: (604) 687-4951
www.pacificridgeexploration.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The technical information contained within this News Release has been reviewed and approved by Gerald G. Carlson, Ph.D.,
P.Eng., President and CEO of Pacific Ridge and Qualified Person as defined by National Instrument 43-101 policy.
Forward-Looking Information:
This release includes certain statements that may be deemed "forward-looking statements".
All statements in this release, other than statements of historical facts, that address exploration drilling and other activities
and events or developments that Pacific Ridge Exploration Ltd. ("Pacific Ridge") expects to occur, are forward-looking
statements. Forward-looking statements in this news release include statements regarding the exercise of the options and
future exploration plans and expenditures. Although Pacific Ridge believes the expectations expressed in such forward-
looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and
actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual
results to differ materially from those in forward looking statements include market prices, exploration successes, and
continued availability of capital and financing and general economic, market or business conditions. These statements are
based on a number of assumptions including, among other things, assumptions regarding general business and economic
conditions, that one of the options will be exercised, the ability of Pacific Ridge and other parties to satisfy stock exchange
and other regulatory requirements in a timely manner, the availability of financing for Pacific Ridge's proposed programs on
reasonable terms, and the ability of third party service providers to deliver services in a timely manner. Investors are
cautioned that any such statements are not guarantees of future performance and actual results or developments may differ
materially from those projected in the forward-looking statements. Pacific Ridge does not assume any obligation to update or
revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by
applicable law.
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