Pacific Ridge Intersects 588.0 M of 0.41% Copper Equivalent or 0.56 g/t Gold Equivalent, Including 278.0 M of 0.67% Copper Equivalent or 0.92 g/t Gold Equivalent from the Kliyul Copper-Gold Project
Pacific Ridge Intersects 588.0 M of 0.41%
Copper Equivalent or 0.56 g/t Gold Equivalent,
Including 278.0 M of 0.67% Copper Equivalent
or 0.92 g/t Gold Equivalent from the Kliyul
Copper-Gold Project
Vancouver, British Columbia--(Newsfile Corp. - November 16, 2022) - Pacific Ridge Exploration
Ltd. (TSXV: PEX) (OTCQB: PEXZF) ("Pacific Ridge" or the "Company") is pleased to announce that
drill hole KLI-22-041 returned 588.0 m of 0.41% copper equivalent ("CuEq") or 0.56 g/t gold equivalent
("AuEq"), including 278.0 m of 0.67% CuEq or 0.92 g/t AuEq, from the Kliyul copper-gold porphyry
project ("Kliyul" or "Project"), located in the prolific Quesnel Trough in northcentral British Columbia. The
program comprised 7,014.7 metres in 12 drill holes, the largest ever drill program at the Project. Results
of the first six drill holes, holes KLI-22-39 to KLI-22-44, are reported in Table 1 below.
Highlights
Drill hole KLI-22-041 returned 588.0 m of 0.41% CuEq or 0.56 g/t AuEq (0.12% copper, 0.39 g/t
gold, and 0.90 g/t silver), including 278.0 m of 0.67% CuEq or 0.92 g/t AuEq (0.14% copper, 0.72
g/t gold, and 0.95 g/t silver; see Table 1);
Every drill hole returned significant intersections at or above 0.54% CuEq or 0.74 g/t AuEq;
Drilling successfully extended the Kliyul Main Zone ("KMZ") mineralized body to the north, south,
and at depth; it now measures approximately 550 m (WSW to ENE) x 200 m (NNW-SSE) x 600 m
vertical depth; and
Drilling has confirmed that bounding faults of the KMZ fault block do not cut off mineralization to the
north or the west. KMZ remains open in every direction.
"Results from the first six drill holes completed at Kliyul in 2022 are a game changer,"
said Blaine
Monaghan, President & CEO of Pacific Ridge
. "We intersected significant porphyry copper-gold
mineralization in every drill hole, materially expanded the KMZ mineralized body, and confirmed that
KMZ is not fault bound to the north or to the west. We eagerly await the results from the remaining six
holes, which included several big step-out holes to the west and east of KMZ."
Table 1
2022 Kliyul Assay Results Summary, Holes KLI-22-39 to KLI-22-44 (Results from Holes KLI-22-45 to
KLI-22-50 will be Reported When Received)
Hole
From(m)
To(m)
Width(m)
Cu(%)
Au(g/t)
Ag(g/t)
CuEq(%)
1
AuEq(g/t)
2
KLI-22-039
9.3
252.0
3
242.7
0.15
0.17
1.05
0.29
0.39
includes
22.0
43.4
21.4
0.38
0.48
3.96
0.76
1.04
And
192.0
229.0
37.0
0.20
0.27
0.67
0.40
0.55
KLI-22-040
23.0
550.8
3
527.8
0.19
0.30
1.35
0.42
0.58
includes
89.0
355.5
266.5
0.23
0.48
1.94
0.60
0.82
And
170.0
268.0
98.0
0.33
0.90
3.42
1.01
1.39
And
210.0
253.0
43.0
0.50
1.11
2.72
1.33
1.83
And
306.6
340.0
33.4
0.09
0.56
0.77
0.50
0.69
KLI-22-041
12.0
600.0
3
588.0
0.12
0.39
0.90
0.41
0.56
includes
106.0
442.0
336.0
0.15
0.62
1.04
0.61
0.84
And
164.0
442.0
278.0
0.14
0.72
0.95
0.67
0.92
And
164.0
200.0
36.0
0.30
0.70
1.61
0.82
1.13
And
280.0
323.0
43.0
0.09
1.59
1.34
1.26
1.73
And
337.0
398.0
61.0
0.25
1.15
1.12
1.09
1.50
And
420.0
442.0
22.0
0.10
0.63
1.01
0.56
0.77
KLI-22-042
9.0
702.0
3
693.0
0.11
0.20
0.81
0.26
0.36
And
136.0
474.4
338.4
0.12
0.30
0.98
0.35
0.48
And
136.0
306.0
170.0
0.18
0.35
1.34
0.44
0.61
And
438.0
474.4
36.4
0.14
0.62
0.99
0.60
0.82
KLI-22-043
9.0
516.0
3
507.0
0.17
0.19
0.82
0.32
0.44
includes
147.0
261.0
114.0
0.28
0.36
1.52
0.55
0.76
And
165.0
229.0
64.0
0.31
0.47
1.82
0.67
0.92
And
463.0
501.0
38.0
0.45
0.26
0.83
0.65
0.89
KLI-22-044
11.6
651.0
3
639.4
0.11
0.23
0.84
0.29
0.39
includes
81.5
432.2
350.7
0.13
0.32
0.98
0.38
0.52
And
134.0
352.0
218.0
0.15
0.37
1.15
0.43
0.59
And
136.0
194.0
58.0
0.25
0.38
1.73
0.54
0.74
And
237.3
336.7
99.4
0.13
0.47
1.01
0.48
0.66
And
399.2
500.0
100.8
0.11
0.35
0.73
0.37
0.50
1
CuEq = ((Cu%) x $Cu x 22.0462) + (Au(g/t) x $Au x 0.032151) + (Ag(g/t) x $Ag X.032151)) / ($Cu x 22.0462)
2
AuEq = ((Cu%) x $Cu x 22.0462) + (Au(g/t) x $Au x 0.032151)) + (Ag(g/t) x $Ag X 0.032151)) / ($Au x 0.032151)
3
End of hole
Commodity prices:
$Cu = US$3.50/lb, $Au = US$1,750/oz., and Ag = US$20.00/oz.
Factors: 22.0462 = Cu% to lbs per tonne, 0.032151 = Au g/t to troy oz per tonne, and 0.032151 = Ag g/t to troy oz per tonne.
Recovery is assumed to be 100% - there has been no metallurgical testing on Kliyul mineralization
Click on the link below for complete assay results from hole KLI-21-039.
https://pacificridgeexploration.com/site/assets/files/5906/2022-11-kli-22-039-cu-au-ag.pdf
Click on the link below for complete assay results from hole KLI-21-040.
https://pacificridgeexploration.com/site/assets/files/5906/2022-11-kli-22-040-cu-au-ag.pdf
Click on the link below for complete assay results from hole KLI-21-041.
https://pacificridgeexploration.com/site/assets/files/5906/2022-11-kli-22-041-cu-au-ag.pdf
Click on the link below for complete assay results from hole KLI-21-042.
https://pacificridgeexploration.com/site/assets/files/5906/2022-11-kli-22-042-cu-au-ag.pdf
Click on the link below for complete assay results from hole KLI-21-043.
https://pacificridgeexploration.com/site/assets/files/5906/2022-11-kli-22-043-cu-au-ag.pdf
Click on the link below for complete assay results from hole KLI-21-044.
https://pacificridgeexploration.com/site/assets/files/5906/2022-11-kli-22-044-cu-au-ag.pdf
Drilling Summary
The program comprised 7,014.7 metres in 12 diamond drill holes, the largest ever drill program at the
Project. Results of the first six drill holes (3,271.8 m) have expanded the KMZ mineralized body to the
north, south and at depth (see Figures 1 and 2). Furthermore, drilling confirmed the east-west trending
Valley Fault is a mineralized structural zone at depth and does not cut off the KMZ system on the north.
Results suggest KMZ and Kliyul North mineralization is contiguous below an approximate 300 m vertical
depth. Drilling also confirmed a modelled fault west of KMZ (informally known as the Lui Fault), and
significant mineralization was intersected in the outlying western block starting at about 400 m vertical
depth. The KMZ mineralization appears to be hosted in a high standing fault block relative to adjacent
fault blocks, which are also mineralized.
Figure 1
Plan View: Kliyul West, KMZ, and Kliyul North with MVI Amplitude Magnetics
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5460/144453_9322053c64cd1a23_001full.jpg
Figure 2
Cross Section of Kliyul West, KMZ, and Kliyul North
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5460/144453_9322053c64cd1a23_002full.jpg
The first six drill holes (3,271.8 m) of the 2022 exploration program at Kliyul tested three target areas,
KMZ, Kliyul North, and Kliyul West. All drilling was collared in KMZ and drill holes were either entirely
within KMZ (KLI-22-040, KLI-22-041), or drilled into neighboring fault-defined target areas at depth:
Kliyul North (KLI-22-042, KLI-22-044) and Kliyul West (KLI-22-039, KLI-22-043).
KMZ
Results of the first six drill holes have expanded the east-northeast trending KMZ mineralized body to the
north, south and at depth such that it now has an approximate 340 m x 200 m maximum footprint in plan
and continues to about 530 m vertical depth. This excludes continuity with neighboring fault blocks. The
portions of drill holes KLI-22-039, -040, -041, -042, -043 and -044 within the KMZ block infilled and
expanded upon the known porphyry Cu-Au core zone. Highlights from each hole:
21.4 m of 0.76% CuEq or 1.04 g/t AuEq starting from 22.0 m (KLI-22-039);
266.5 m of 0.60% CuEq or 0.82 g/t AuEq starting from 89.0 m (KLI-22-040);
336.0 m of 0.61% CuEq or 0.84 g/t AuEq starting from 106.0 m (KLI-22-041);
170.0 m of 0.44% CuEq or 0.61 g/t AuEq starting from 136.0 m (KLI-22-042);
114.0 m of 0.55% CuEq or 0.76 g/t AuEq starting from 147.0 m (KLI-22-043); and
350.7 m of 0.38% CuEq or 0.52 g/t AuEq starting from 81.5 m (KLI-22-044).
Importantly, drilling confirmed the east-west trending Valley Fault which defines the KMZ block on the
north is a mineralized structural zone at depth and does not cut off the KMZ system; also, that the
northwest-trending Lui Fault which defines the KMZ block on the west is a mineralized structural zone at
depth.
Kliyul North
The only drill hole to previously encounter significant mineralization in Kliyul North was KLI-15-035, drilled
by Teck Resources in 2015 (19.5 m of 0.43% Cu and 0.56 g/t Au from 414.0-433.5 m). The aim of the
deeper portions of drill holes KLI-22-042 and KLI-22-044 was to confirm this occurrence and expand
upon it towards the Valley Fault zone.
KLI-22-042 stepped-out laterally 135 m to the southwest and intersected porphyry Cu-Au style
mineralization to about 275 m vertical depth below KLI-15-035, extending it to 630 m vertical depth. The
Valley Fault was intersected at approximately 311 m core length. KLI-22-044 stepped out 150 m to the
southwest from KLI-22-042 and was drilled steeply (-80°) through the Valley Fault zone. It passed into the
Kliyul North block at 385 m core length and continued in sulfide mineralization to end-of-hole at 651.0 m.
Altogether, these early results indicate a 200 m x 50 m NE-SW trending panel (unconstrained) of
porphyry Cu-Au mineralization in Kliyul North starting at about 300 m vertical depth, and this
mineralization appears to be contiguous with KMZ mineralization at this depth. Highlights from each
hole:
36.4 m of 0.60% CuEq or 0.82 g/t AuEq starting from 438.0 m (KLI-22-042); and
100.8 m of 0.37% CuEq or 0.50 g/t AuEq starting from 399.2 m (KLI-22-044).
Similar to KMZ, mineralization is associated with early-stage veins (quartz-magnetite-chalcopyrite ±
bornite, biotite, chlorite) to intermediate-stage veins (quartz-epidote-chalcopyrite-pyrite ± anhydrite,
albite, chlorite) with potassic alteration (magnetite ± biotite) variably overprinted by chlorite-sericite and
propylitic assemblages. Host rock is volcaniclastic andesite with interfingering narrow diorite dykes and
late-mineral feldspar porphyry dykes.
Kliyul West
Drilling of KLI-22-039 and KLI-22-043 to the southwest from KMZ into the Kliyul West target area verified
a historically modelled northwest-trending fault (informally named Lui Fault) that forms a wedge-shaped
intersection with Valley Fault at the northwest corner of KMZ. Drilling outboard of this fault is within an
underexplored adjacent fault block. Sulfide mineralization intersected in Kliyul West is pyrite-dominant
with weak chalcopyrite to about 100 m vertical depth (KLI-22-039). Chalcopyrite appears to increase
after 200 m vertical depth (KLI-22-043); it is locally disseminated and associated with intermediate-
stage veins. Alteration is moderate-strong chlorite-sericite and sericitic, suggesting Kliyul West is a
downthrown block relative to KMZ. Lithology is volcaniclastic andesite host rock with late-mineral dykes
(feldspar porphyry and hornblende porphyry). Highlights from each hole:
37.0 m of 0.40% CuEq or 0.55 g/t AuEq starting from 192.0 m (KLI-22-039); and
38.0 m of 0.65% CuEq or 0.89 g/t AuEq starting from 463.0 m (KLI-22-043).
Drill results from the final six drill holes of the 2022 Kliyul exploration program, holes KLI-22-45 to KLI-22-
50, are expected within the next six weeks.
About Kliyul
Over 60 km
2
in size, Kliyul is a copper-gold porphyry project located 50 km southeast of the Centerra
Gold Inc. ("Centerra") Kemess Mine and close to existing infrastructure (see Figure 3). Kliyul comprises
nine porphyry copper-gold target areas along two main trends: the 1.5 km-long east-northeast Valley
Fault Trend, which includes its five fault-defined target areas (Kliyul West, KMZ, Kliyul North, East
Wedge, and Kliyul East); and the 6-km-long northwest-trending Divide Lake Fault Trend which includes
Ginger, Parish Hill, Bap Ridge, and M-39 target areas (see Figure 4).
Figure 3
Location of Kliyul
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5460/144453_9322053c64cd1a23_003full.jpg
Figure 4
Kliyul Target Areas. Background on Left is 2021 Platform Geoscience MVI-RTP-1VD Inversion of
Geoscience BC SEARCH III Regional Aeromagnetic data (2017). Background on Right is 2022
Analytic Signal (Precision Geophysics Ltd.). Outline of Kliyul Main Zone Radiogenic K/eTh Ring
Anomaly from 2022 Precision Geophysics Survey Also Shown.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5460/144453_9322053c64cd1a23_004full.jpg
KMZ is the most intensely explored target area at Kliyul, with 36 drill holes (6,608 m) drilled prior to
Pacific Ridge's 2022 drill program. Most of the historical drilling, not including Pacific Ridge's 2021 drill
campaign, targeted near-surface copper-gold mineralization. The results of the Company's 2021 Kliyul
drill campaign are shown in Table 2.
Table 2
2021 Kliyul Assay Results Summary
Hole
From(m)
To(m)
Width(m)
Cu(%)
Au(g/t)
Ag(g/t)
CuEq(%)
1
AuEq(g/t)
2
KLI-21-036
12.0
449.0
437.0
3
0.22
0.60
1.62
0.68
0.93
Includes
12.0
65.0
53.0
0.22
0.83
1.52
0.84
1.15
And
12.0
33.0
21.0
0.34
1.30
2.48
1.31
1.80
And
47.0
65.0
18.0
0.22
0.89
1.24
0.88
1.21
Includes
143.3
435.0
291.7
0.28
0.74
2.04
0.84
1.15
And
294.0
435.0
141.0
0.36
1.11
2.76
1.19
1.64
KLI21-037
12.3
579.0
566.7
3
0.20
0.44
1.39
0.53
0.73
Includes
12.3
329.0
316.7
0.30
0.70
2.17
0.83
1.14
And
62.0
73.0
11.0
0.42
1.22
4.48
1.35
1.85
And
90.0
122.0
32.0
0.52
0.88
2.48
1.18
1.62
And
146.0
161.0
15.0
0.39
1.19
2.86
1.29
1.77
Includes
238.8
288.1
49.4
0.66
1.50
4.83
1.79
2.46
And
243.9
268.0
24.1
1.09
2.21
7.92
2.77
3.80
KLI21-038
9.0
516.0
507.0
3
0.15
0.39
1.51
0.45
0.62
Includes
9.0
351.0
342.0
0.17
0.50
2.00
0.56
0.77
And
9.0
43.0
34.0
0.27
0.72
2.84
0.82
1.13
And
9.0
63.0
54.0
0.21
0.56
2.27
0.64
0.88
And
108.0
136.0
28.0
0.21
0.60
9.01
0.72
0.99
And
153.1
186.0
32.9
0.24
0.78
1.68
0.82
1.12
And
226.0
351.0
125.0
0.23
0.69
1.57
0.74
1.02
And
261.0
349.0
88.0
0.26
0.84
1.82
0.89
1.22
1
CuEq = ((Cu%) x $Cu x 22.0462) + (Au(g/t) x $Au x 0.032151) + (Ag(g/t) x $Ag X.032151)) / ($Cu x 22.0462)
2
AuEq = ((Cu%) x $Cu x 22.0462) + (Au(g/t) x $Au x 0.032151)) + (Ag(g/t) x $Ag X 0.032151)) / ($Au x 0.032151)
3
End of hole
Commodity prices:
$Cu = US$3.50/lb, $Au = US$1,750/oz., and Ag = US$20.00/oz.
Factors: 22.0462 = Cu% to lbs per tonne, 0.032151 = Au g/t to troy oz per tonne, and 0.032151 = Ag g/t to troy oz per tonne.
Recovery is assumed to be 100% - there has been no metallurgical testing on Kliyul mineralization
Porphyry copper mineralization at Kliyul typically comprises both veined and disseminated chalcopyrite
with lesser amounts of bornite. Vein-hosted mineralization is within epidote-
chalcopyrite±anhydrite±bornite veins, anhydrite-quartz-chalcopyrite±magnetite veins, chalcopyrite veins,
and quartz-chlorite-magnetite-chalcopyrite±bornite veins. Epidote-chalcopyrite±anhydrite±bornite veins
are the most common vein type and have varied vein selvages including chlorite, albite or sericite.
Mineralization is most commonly hosted by andesite and volcaniclastic andesite, although feldspar
porphyry and equigranular diorite can also be hosts. Increased copper and gold grades occur within
strong magnetite alteration and with increased vein density. The presence of bornite is associated with
higher copper and gold grades.
Pacific Ridge can acquire up to a 75% interest in Kliyul and Redton from AuRico Metals Inc., a wholly
owned subsidiary of Centerra, by making cash payments totaling $160,000, issuing 3.5 million shares,
and spending $7.0 million on exploration by December 31, 2025 (see news release dated January 17,
2020). The Company expects to have made the required exploration expenditures to earn the 75%
interest in Kliyul and Redton this year.
QA/QC (Quality Assurance/Quality Control)
Pacific Ridge's 2022 exploration program was managed by Equity Exploration Consultants Ltd. of
Vancouver, B.C. The drill contractor was Dorado Drilling Ltd. of Vernon, B.C. Half-core HQ (63.5 mm) or
NQ (47.6 mm) sawed samples from continuous intervals throughout the reported drill holes were sealed
on site and shipped to ALS Global's preparation lab in Kamloops or North Vancouver, BC. Fire assay
and multielement analyses were completed at ALS Minerals analytical laboratory in North Vancouver.
Drill core was crushed, pulverized and analyzed for 48 elements using a four-acid dissolution followed by
ICP-MS (ME-MS61) with overlimits by ore grade four-acid dissolution followed by ICP-AES (OG62), with
a 30 g sample analyzed for gold by fire assay and atomic absorption finish (Au-AA23). Blanks and
commercially certified reference materials were inserted blind into the sample stream with an overall
insertion rate of 5%. Field duplicates representing a quarter core split of the original sample are inserted
at 2.5%. Pulp and crush duplicates are inserted at 5% insertion rate by the laboratory. The QAQC results
are reviewed as batches are returned from the laboratory and appropriate actions are implemented
where required. The QA/QC results for the reported drill holes are acceptable.
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.