Pacific Ridge Confirms Porphyry Copper Target at Spius Project; Drilling Planned for 2019
Pacific Ridge Confirms Porphyry Copper Target at Spius
Project; Drilling Planned for 2019
Vancouver, British Columbia--(Newsfile Corp. - December 13, 2018) - Pacific Ridge Exploration Ltd. (TSXV: PEX) ("Pacific
Ridge" or the "Company") reports on the results of an Induced Polarization ("IP") geophysical survey and soil geochemical
survey on its road accessible Spius copper porphyry prospect located 40 km southwest of Merritt, British Columbia.
The soil survey confirmed earlier sampling results and 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.
Permits are in place for a core drilling program which is planned for the 2019 field season.
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.
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, RC Gold in the Tintina Gold Belt, Fyre Lake in
the Finlayson District and Spius Cu-Mo-Au porphyry and TL Zinc 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.