Pacific Ridge Completes Drill Program at RDP Copper-Gold Project
Pacific Ridge Completes Drill Program at RDP
Copper-Gold Project
Vancouver, British Columbia--(Newsfile Corp. - September 1, 2022) - Pacific Ridge Exploration Ltd.
(TSXV: PEX) (OTCQB: PEXZF) ("Pacific Ridge" or the "Company") is pleased to announce that the
Company has completed its first ever diamond drill program at the RDP copper-gold project ("RDP" or
the "Project"), located in northcentral British Columbia (see Figure 1). The Company completed 1,861 m
of drilling at RDP in six drill holes.
The RDP drill program is being funded by Antofagasta Minerals S.A. ("Antofagasta"), a subsidiary of
Antofagasta PLC (LSE: ANTO), who can earn a 75% interest in the Project by spending $10,000,000 on
exploration over eight years and delivering a preliminary economic assessment report. Pacific Ridge is
the operator and supported the drill program from the Kliyul copper-gold project ("Kliyul") camp where
the planned 6,000 m diamond drill program is ongoing.
Figure 1
RDP Location Map
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About RDP
Located 40 km west of the Company's flagship Kliyul, RDP is over 10,000 hectares in size and lies
within the Stikine Terrane, which is host to numerous significant porphyry deposits in northern British
Columbia, including Kemess, Red Chris, Kerr-Sulphurets and Galore Creek. The Project is also in a
similar geological environment to NorthWest Copper's East Niv discovery, which adjoins RDP to the
north.
RDP contains several porphyry copper-gold targets (Roy, Day, Porcupine, and Bird - see Figure 2), that
have been explored intermittently since the early 1970's, including prospecting and mapping, various
geochemical surveys, ground and airborne geophysical surveys, trenching and a limited amount of
drilling. The Project is underlain by lower Hazelton Group volcanic and sedimentary rocks (Lower
Jurassic) of andesitic and dacitic composition and the Gyr rhyolite porphyry; and by Late Triassic to
Early Jurassic plutonic rocks including the Fir gabbro and Roy plutonic suite with porphyritic plugs, sills,
and stocks of monzodiorite composition.
Figure 2
RDP Target Areas
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Day Target
Mineralization at Day includes pyrite, magnetite, chalcopyrite, minor molybdenite, and local bornite as
disseminations, sheeted veins and vein stockworks in diorite and adjacent altered volcaniclastic rocks.
Historical drilling includes 2,472 m in 19 drill holes. Drill highlights include 0.67% Cu and 0.93 g/t Au over
58.8 m (drill hole D-74-1) and 0.54% Cu and 0.69 g/t Au over 57 m (drill hole C-92-1).
Pacific Ridge completed five drill holes, totaling 1,393-metres, from a single drill pad at Day. The longest
drill hole, RDP-22-005, was 513-metres and encountered zoned copper sulphide mineralization to the
end of the hole, including a central bornite-chalcopyrite mineralized zone over 166 m (from 78 m to 244
m) with higher frequency of intervals logged with bornite as the predominant copper sulphide.
Figure 3
Chalcopyrite vein in RDP-22-005 at 271 m
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Roy Target
Mineralization at Roy consists of a quartz-magnetite-chalcopyrite stringer stockwork within a monzonite
intrusion. Trench sampling in 1990 encountered 0.121% Cu and 0.55 g/t Au over 62 m within an 80 m
trench. Shallow diamond drilling programs have been completed at Roy, but results are incomplete or
unavailable except for drill hole EQ-11-01. This hole was drilled in 2011, the last time RDP was explored,
and returned 0.11% Cu and 0.64 g/t Au over 122.95 m.
Pacific Ridge completed one 468-metre hole at the Roy target with the aim of improving upon the
historical EQ-11-01 result.
Porcupine Target
Discovered in 1972, the Porcupine target, was explored as a stratabound massive sulphide target. Float
samples assayed as high as 17.2% Cu and 0.19% Cu with 7.98 g/t Au. Four holes drilled in 1972
returned sporadic results. More recent evaluation of the alteration and soil geochemistry at Porcupine
suggests it is epithermal in nature and possibly related to an underlying porphyry system.
Bird Target
The historical Bird Target, located between Roy and Porcupine target areas, about 1.8 km west-
southwest of Roy, was reassessed with mapping and prospecting. A nearby mineral occurrence with
several percent chalcopyrite, quartz-chalcopyrite vein stockwork and potassic alteration (K-feldspar,
magnetite), was identified in a topographic low where porphyry dykes intrude prospective (subaqueous
type) volcaniclastic host rocks.
Initial drill results from Day and Roy are expected sometime in the fall.
Kliyul Copper-Gold Project Drilling Update
Pacific Ridge has completed 4,818 metres of drilling to date. The planned 6,000 m diamond drill
program is scheduled to end mid-September with initial drill results expected sometime in October.
About Pacific Ridge
Our goal is to become British Columbia's leading copper-gold exploration company. Pacific Ridge's
flagship project is the Kliyul copper-gold project, located in the prolific Quesnel Trough, approximately 50
km southeast of Centerra Gold Inc.'s Kemess mine. In addition to Kliyul, the Company's project portfolio
includes the RDP copper-gold project (optioned to Antofagasta Minerals S.A.), the Chuchi copper-gold
project, the Onjo copper-gold project, and the Redton copper-gold project, all located in British
Columbia.
On behalf of the Board of Directors,
"Blaine Monaghan"
Blaine Monaghan
President & CEO
Pacific Ridge Exploration Ltd.
Corporate Contact:
Blaine Monaghan
President & CEO
Tel: (604) 687-4951
www.pacificridgeexploration.com
https://www.linkedin.com/company/pacific-ridge-exploration-ltd-pex-
https://twitter.com/PacRidge_PEX
Investor Contact:
G2 Consultants Corp.
Telephone: +1 778-678-9050
Email:
*
Fox, M., 1991, B.C. Government Assessment Report No. 21359
**
Equitas Resources Corp. News Release - December 15, 2011
***
Aussant, C.H., 1997, B.C. Government Assessment Report No. 25122
****
Skeena Resources Ltd. News Release - July 28, 1992.
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., Executive Chairman 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 timing of initial drill results from Day,
Roy, and Kliyul, and when the drill program at Kliyul is expected to end. 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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