Pacific Ridge Completes ZTEM Airborne Geophysical Surveys at Chuchi and Onjo Copper-Gold Porphyry Projects; Precious Metals Summit Beaver Creek
Pacific Ridge Completes ZTEM Airborne
Geophysical Surveys at Chuchi and Onjo
Copper-Gold Porphyry Projects; Precious
Metals Summit Beaver Creek
Vancouver, British Columbia--(Newsfile Corp. - August 16, 2022) - Pacific Ridge Exploration Ltd.
(TSXV: PEX) (OTCQB: PEXZF) ("Pacific Ridge" or the "Company") is pleased to announce that it has
completed ZTEM airborne geophysical surveys at the Chuchi
and Onjo copper-gold porphyry projects
located to the west of Centerra Gold Inc.'s ("Centerra") (TSX: CG) (NYSE: CGAU) Mount Milligan mine in
northcentral B.C. (please see Figure 1).
The geophysical surveys at Chuchi and Onjo (720 line-km at Chuchi and 667 line-km at Onjo) will be
followed by exploration programs including geological mapping, rock and soil sampling, and re-logging
historical drill core. Pacific Ridge will further investigate existing targets and new targets, expected to be
generated by the ZTEM surveys, with the ultimate goal of defining future drill targets.
"Although the Kliyul copper-gold porphyry project is our focus, we believe that both Chuchi and Onjo have
the potential to host significant porphyry deposits," said Blaine Monahan, President & CEO of Pacific
Ridge. "The exploration programs at Chuchi and Onjo are fully funded and the results will help us to
define targets for future drilling."
Figure 1
Location of Chuchi and Onjo
To view an enhanced version of this graphic, please visit:
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ZTEM is a modern geophysical technique utilizing natural earth currents to image the subsurface three-
dimensional distribution of apparent resistivity to depths exceeding one kilometer. ZTEM has proven to
be effective in outlining the large hydrothermal mineralization and alteration systems associated with
porphyry deposits that are often kilometer plus scale horizontally and vertically, and it is particularly useful
in defining the structures that are often important in localizing or offsetting mineralization. This early-stage
airborne remote sensing technique has never been applied to Chuchi or Onjo and will provide a new
perspective that will help
to guide future exploration.
Chuchi
Pacific Ridge recently acquired an option to earn up to a 75% interest in Chuchi from AuRico Metals Inc.
(see news release dated
May 9, 2022
). Over 6,100 ha in size, Chuchi hosts a large, well-mineralized
gold-rich porphyry copper system, where many of the historical drill holes bottomed in mineralization. The
main BP Zone is less than two kilometers outboard of the southeastern margin of the regional Hogem
batholith and is defined by a 4 km x 3 km halo of outer propylitic alteration surrounding a central 1.5 km x
1.5 km area of copper-gold mineralization, which is open to depth and potentially to the east across the
north-south trending Valley Fault (see Figure 2). Grades within the mineralized portion of the BP Zone
range from 0.21% to 0.40% Cu and from 0.21 g/t to 0.44 g/t Au (see Table 1).
Figure 2
Chuchi with IP Chargeability and Historical Drill Holes
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Table 1
BP Zone Drill Highlights
Hole No.
From (m)
To (m)
Width (m)
Cu (%)
Au (g/t)
CuEq
(%)*
AuEq
(g/t)**
CH-89-7
38.0
138.0
100.0
0.27
0.37
0.51
0.79
Includes
82.0
98.0
16.0
0.71
1.32
1.55
2.43
CH-89-8
152.0
200.0
48.0
0.25
0.24
0.40
0.63
CH-90-23
38.0
54.0
16.0
0.36
0.58
0.73
1.14
CH-90-27
32.0
226.0
194.0
0.21
0.21
0.34
0.54
CH-90-30
98.0
256.0
158.0
0.22
0.10
0.28
0.45
CH-90-33
39.6
304.5
264.9
0.17
0.10
0.23
0.37
Includes
64.0
152.0
88.0
0.36
0.21
0.49
0.77
CH-90-34
75.3
213.1
137.8
0.14
0.08
0.19
0.30
CH-90-36
51.5
243.5
192.0
0.16
0.12
0.24
0.37
CH-90-37
54.3
262.1
207.8
0.22
0.12
0.30
0.47
CH-91-40
50.0
154.0
104.0
0.25
0.23
0.40
0.62
Includes
50.0
132.0
82.0
0.30
0.28
0.48
0.75
Includes
62.0
104.0
42.0
0.44
0.41
0.70
1.10
CH-91-42
91.4
146.0
54.6
0.08
1.93
1.31
2.06
Includes
91.4
124.0
32.6
0.06
3.12
2.05
3.21
CH-91-42
188.0
256.0
68.0
0.13
0.38
0.37
0.58
Includes
230.0
256.0
26.0
0.12
0.75
0.60
0.94
*CuEq = ((Cu%) x $Cu x 22.0462) + (Au(g/t) x $Au x 0.032151)) / ($Cu x 22.0462)
**AuEq = ((Cu%) x $Cu x 22.0462) + (Au(g/t) x $Au x 0.032151)) / ($Au x 0.032151)
Commodity prices:
$Cu = US$4.00/lb and $Au = US$1,750/oz.
Factors: 22.0462 = Cu% to lbs per tonne, and 0.032151 = Au g/t to troy oz per tonne.
Recovery is assumed to be 100% .
Onjo
As announced on February 3, 2022, Pacific Ridge acquired a 100% interest in the 9,700 ha Onjo
project, located 15 km west of Centerra's Mount Milligan Mine (see Figure 3). Onjo hosts skarn and
alkalic porphyry copper-gold mineralization associated with monzonitic phases of the Witch Lake
intrusions cutting Takla volcanic rocks, similar to the mineralization and host rocks at Mount Milligan. The
style of copper-gold mineralization returned in historical drilling, combined with the presence of nearby
skarn occurrences, suggests that this is the upper levels of an alkalic porphyry system. The Company
believes that Onjo has the potential to host an alkalic porphyry copper-gold deposit at depth.
Figure 3
Onjo Location
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5460/133965_30ef3095b4e989f3_003full.jpg
Precious Metals Summit Beaver Creek
Pacific Ridge will be attending the 2022 Precious Metals Summit Beaver Creek and is available to meet
with interested investors on Tuesday, September 13
th
, Wednesday, September 14
th
, and Thursday,
September 15
th
. To schedule a meeting, please email
or call 1-778-
678-9050.
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:
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 geological mapping and sampling program and re-logging of
historical drill core at Chuchi and Onjo. 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. Forward-looking statements in this news release include the potential for
Onjo to host an alkalic porphyry copper-gold deposit at depth and plans to launch an exploration
program later this year with the objective of defining future drill targets. 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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https://www.newsfilecorp.com/release/133965