Pacific Ridge Completes over 11,700 M of Diamond Drilling at Kliyul and RDP Copper- Gold Projects
Pacific Ridge Completes over 11,700 M of
Diamond Drilling at Kliyul and RDP Copper-
Gold Projects
Vancouver, British Columbia--(Newsfile Corp. - September 21, 2023) - Pacific Ridge Exploration Ltd.
(TSXV: PEX) (OTCQB: PEXZF) ("Pacific Ridge" or the "Company") is pleased to announce that the
Company completed 10,284 m of diamond drilling at its 100% owned Kliyul copper-gold project
("Kliyul") and 1,428 m at the RDP copper-gold project ("RDP"). Kliyul is located in the prolific Quesnel
Terrane, close to existing infrastructure, and RDP is located 40 km to the west of Kliyul in the Stikine
Terrane (see Figure 1).
Kliyul Highlights
10,284 m of diamond drilling was completed in 19 drill holes at Kliyul, making the 2023 exploration
program the largest ever on the Project.
8,965 m in 16 drill holes in six contiguous fault block zones of the Kliyul porphyry copper-gold
complex tested an area measuring approximately 1,300 m east-west, 600 m north-south, and up to
650 m vertical depth (see Figure 2).
1,319 m in three drill holes tested three interpreted porphyry centres (Ginger, Ginger South, and
Parish Hill) up to 1.5 km from the Kliyul Main Zone ("KMZ") (see Figure 3).
Pacific Ridge has reported assay results from the first four diamond drill holes with hole KLI-23-
054 returning 305.5 m of 0.23% copper, 0.51 g/t gold, and 1.22 g/t silver within 540.3 m of 0.19%
copper, 0.36 g/t gold, and 1.09 g/t silver (see news release dated August 23, 2023). The results
from the remaining 15 drill holes completed at Kliyul will be released once assays are received
and compiled.
RDP Highlights
1,428 m of diamond drilling was completed in three drill holes at RDP.
987 m in two broad step-out holes (over 300 m each) from drill hole RDP-22-005, which returned
107.2 m of 0.63% copper, 1.10 g/t gold, and 2.91 g/t silver within 497.2 m of 0.37% copper, 0.40
g/t gold, and 1.6 g/t silver at the Day Target in 2022 (see news release dated October 25, 2022)
(see Figure 4).
441 m in one drill hole completed at the Bird target where the Company discovered porphyry
copper-gold mineralization in an outcrop exposed in a stream cutbank in 2022.
The results from the three drill holes completed at RDP will be released once assays are received
and compiled.
"2023 was Pacific Ridge's busiest exploration season ever,"
said Blaine Monaghan, President & CEO
of Pacific Ridge.
"I'm very confident that we will continue to grow the known extents of the Kliyul
porphyry copper-gold complex. I also look forward to the drill results from RDP where 2022 drilling
returned one of the best reported porphyry intercepts in B.C. last year."
Figure 1
Location of Kliyul and RDP
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Figure 2
2023 Kliyul Drilling
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Figure 3
Kliyul Targets and Relative Magnetic Intensity (RMI) from 2022 Airborne Magnetics Survey
To view an enhanced version of Figure 3, please visit:
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Figure 4
RDP Targets
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2023 Kliyul Drilling Program Update
The 2023 Kliyul drilling program was completed on September 14
th
with the termination of drill hole KLI-
23-069 at 655 m (55 m beyond planned depth). Seasonal progressive reclamation and exploration
camp demobilization is underway. The total of 10,284 m of diamond drilling at Kliyul followed the
decision to reallocate 2,000 m of drilling originally planned for the Company's Chuchi copper-gold
project (see Pacific Ridge news release dated July 25, 2023) increasing the planned 2023 drilling at
Kliyul from 7,000 m to 9,000 m. An additional 1,284 m of drilling was due to operational efficiencies. The
10,284 m diamond drilling program is the largest ever seasonal drilling program to be completed at
Kliyul.
The objectives of the 2023 Kliyul exploration drilling program were to expand the known extents of the
Kliyul porphyry copper-gold complex and to test several high-priority interpreted porphyry centres
occurring along the Divide Lake Fault and Valley Fault corridors (see Figure 3).
2023 RDP Drilling Program Update
The 2023 RDP drilling program was completed on September 2
nd
with termination of drill hole RDP-23-
009 at 441 m. Drill rig demobilization and seasonal progressive reclamation have been completed. A
total of 1,428 m of diamond drilling was completed in three drill holes and tested two porphyry copper-
gold prospects, Day and Bird (see Figure 4).
The 2023 drill program at RDP was funded by Antofagasta Minerals S.A. ("Antofagasta"), a wholly
owned subsidiary of Antofagasta PLC (LSE: ANTO). Antofagasta can earn a 75% interest in RDP by
spending $10,000,000 on exploration over eight years and delivering a preliminary economic
assessment report (see Pacific Ridge news release dated February 8, 2022). Pacific Ridge is the
operator and supported the RDP exploration program from Kliyul camp, located 40 km to the east.
About Pacific Ridge
Our goal is to become British Columbia's leading copper-gold exploration company. Pacific Ridge's
flagship asset is its 100% owned Kliyul copper-gold project, located in the prolific Quesnel Terrane close
to existing infrastructure. 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. Pacific Ridge would
like to acknowledge that its B.C. projects are located in the traditional, ancestral and unceded territories
of the Gitxsan Nation, McLeod Lake Indian Band, Nak'azdli Whut'en, Takla Nation, and Tsay Keh Dene
Nation.
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:
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,
which 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 growing the known extents of the Kliyul porphyry copper-gold
complex. 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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