Pacific Ridge Intersects 89.0 M of 1.06% Copper Equivalent Within 328.0 M of 0.67% Copper Equivalent at Kliyul Copper-Gold Project; Materially Increases Size of Mineralized Body
Pacific Ridge Intersects 89.0 M of 1.06%
Copper Equivalent Within 328.0 M of 0.67%
Copper Equivalent at Kliyul Copper-Gold
Project; Materially Increases Size of
Mineralized Body
Vancouver, British Columbia--(Newsfile Corp. - January 18, 2023) - Pacific Ridge Exploration Ltd.
(TSXV: PEX) (OTCQB: PEXZF) ("Pacific Ridge" or the "Company") is pleased to announce the
remaining results from the 2022 diamond drill program completed at the Kliyul copper-gold porphyry
project ("Kliyul" or "Project"), located in the prolific Quesnel Trough in northcentral British Columbia.
Highlights:
Drill hole KLI-22-050 returned 89.0 m of 1.06% copper equivalent ("CuEq") (0.28% copper, 1.05
g/t gold, and 1.20 g/t silver) within 328.0 m of 0.67% CuEq (0.25% copper, 0.57 g/t gold, and 1.25
g/t silver) (see Table 1);
Drill hole KLI-22-046 extended mineralization 250 m north of the Kliyul Main Zone ("KMZ") and
returned 59.0 m of 0.89% CuEq (0.24% copper, 0.87 g/t gold, and 2.29 g/t silver) within 169 m of
0.55% CuEq (0.20% copper, 0.46 g/t Au, and 1.65 g/t Ag);
Drill hole KLI-22-049, a 300 m step out to the east of KMZ, returned 28.0 m of 0.61% CuEq (0.27%
copper, 0.44 g/t gold, and 2.87 g/t silver) within 340.0 m of 0.30% CuEq (0.15% copper, 0.20 g/t
Au, and 0.80 g/t Ag);
2022 drilling materially increased the size of the KMZ mineralized body to approximately 600 m (E-
W) x 350 m (N-S) x 600 m vertical depth from approximately 350 m (E-W) x 150 m (N-S) x 500 m
vertical depth (see Figures 1 and 2); and
Drilling also confirmed that the magnetic vector inversion (MVI) data closely correlates with
mineralization; in plan, there is an approximate 38-hectare anomalous MVI. The currently defined
KMZ mineralized footprint represents only 5.5 hectares, or 14.5% of the total footprint (see Figure
3).
"The overarching goal of the 2022 drill program at Kliyul was to demonstrate that the Kliyul Main Zone
has size potential,"
said Blaine Monaghan, President & CEO of Pacific Ridge
. "Not only did we achieve
that goal, but the MVI data suggests that there is tremendous potential for the KMZ mineralized body
to continue growing. That will be the focus of our fully funded 2023 exploration program."
Table 1
2022 Kliyul Assay Results Summary for Drill Holes KLI-22-045 to KLI-22-050 (Results for Drill Holes
KLI-22-039 to KLI-22-044 Were Reported on November 16th, 2022)
Hole
From(m)
To(m)
Width(m)
Cu(%)
Au(g/t)
Ag(g/t)
CuEq(%)
1
AuEq(g/t)
2
KLI-22-
045
112.0
184.0
72.0
0.21
0.59
1.96
0.66
0.91
141.0
184.0
43.0
0.17
0.57
2.39
0.61
0.83
330.0
367.0
37.0
0.15
0.34
0.89
0.40
0.55
KLI-22-
046
273.0
442.0
169.0
0.20
0.46
1.65
0.55
0.75
313.0
336.2
23.2
0.15
0.49
1.36
0.51
0.71
371.0
430.0
59.0
0.24
0.87
2.29
0.89
1.22
KLI-22-
047
332.0
385.0
53.0
0.10
0.11
0.72
0.18
0.25
KLI-22-
048a
352.0
362.0
10.0
0.01
0.59
1.81
0.46
0.63
KLI-22-
049
144.0
484.0
340.0
0.15
0.20
0.80
0.30
0.41
250.0
316.0
66.0
0.23
0.24
0.90
0.41
0.57
456.0
484.0
28.0
0.27
0.44
2.87
0.61
0.84
KLI-22-
050
58.0
584.0
526.0
0.20
0.43
1.03
0.52
0.71
115.0
443.0
328.0
0.25
0.57
1.25
0.67
0.92
254.0
308.0
54.0
0.40
1.03
2.42
1.17
1.60
354.0
443.0
89.0
0.28
1.05
1.20
1.06
1.45
514.0
562.0
48.0
0.19
0.41
1.15
0.49
0.68
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)
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 for holes KLI-22-045 to KLI-22-050.
https://pacificridgeexploration.com/site/assets/files/5924/assay_table_for_holes_45-50.pdf
Drilling and Exploration Summary
The 2022 program comprised 7,014.7 metres in 12 diamond drill holes, the largest ever drill program at
the Project. Results of the second six drill holes (3,743.0 m) confirmed the expansion of mineralization
into three zones adjacent to KMZ - to the north across Valley Fault (Kliyul North), to the east across
Divide Lake Fault (East Wedge), and to the west across the Lui Fault (Kliyul West). Mineralization in
each of these fault-defined zones remains open in several directions and at depth, as does KMZ
mineralization to the southeast.
Understanding of structural control at Kliyul was enhanced with the new drilling results, where
mineralization encountered in both East Wedge and Kliyul North appears to be spatially related to the
NW-trending Divide Lake Fault. The Divide Lake Fault was previously thought to be cut-off by the Valley
Fault, but there is growing evidence that it may continue into Kliyul North. If this is the case, then Divide
Lake Fault crosscuts the ENE-trending Valley Fault, which was confirmed to be a syn-mineral structural
zone in the first six drill holes of 2022 (see News Release dated November 16th, 2022) and both faults
may be principal controlling structures that were active in the latest Triassic Period. Extent of the Divide
Lake Fault north of Valley Fault is unknown in surface mapping due to colluvial overburden.
The recently acquired MVI data of the high-resolution helicopter-borne magnetic gradient survey, flown in
July 2022, closely correlates with mineralization in 2022 drill holes. In plan, the MVI induced result shows
an approximate 38-hectare anomalous MVI footprint that encompasses the four mineralized zones
(KMZ, Kliyul North, East Wedge, and Kliyul West) and of which the currently defined KMZ represents only
5.5 hectares, or about 14.5% of the total footprint (Figure 3). This magnetic anomaly is centered on three
known faults, the parallel NW-trending Lui Fault and Divide Lake Fault (separated by about 300 m), and
the ENE-trending Valley Fault, but the anomaly extends outside these faults and their intersections below
about 300 m vertical depth (Figure 3).
Altogether, these results suggest that the KMZ is one component of a larger mineralized system that
extends to the north, east, southeast and southwest. Broad step-out drilling 600 m to the west (KLI-22-
047) and over 700 m to the east (KLI-22-048A) from the centre of KMZ along the Valley Fault Trend
encountered weak fault-controlled mineralization with sericitic alteration and is interpreted to be within a
high-chargeability pyrite halo, currently defining the outer boundary of the porphyry system.
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/5460/151711_f5caf1e3c44a08e9_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/5460/151711_f5caf1e3c44a08e9_002full.jpg
Figure 3
Updated MVI Induced Model Showing Approximate 38-Hectare Footprint of Kliyul Magnetic Anomaly
Centered on the ENE Trending Valley Fault and Intersecting NW-Trending Faults.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5460/151711_f5caf1e3c44a08e9_003full.jpg
Discussion of Drill Holes KLI-22-045 to KLI-22-050
These six drill holes (totaling 3,743.0 m) tested five target areas, Kliyul West, Kliyul North, KMZ, East
Wedge, and Kliyul East. Drilling in Kliyul West and Kliyul East included the largest step-outs in drilling
from KMZ since the mid-1990s to help determine the full extent of the Kliyul paleo-hydrothermal system
along the Valley Fault Trend in terms of alteration and mineralization signature.
KLI-22-045
(azimuth 030°, inclination -65°) tested the extent of mineralization beyond the Valley Fault in
Kliyul North at depth compared to KLI-15-035.
The drill hole was collared in KMZ and intersected the
damage zone of the Valley Fault/Divide Lake Fault intersection from 298-347 m after which drilling
remained in Kliyul North until end-of-hole at 695.0 m. Significant intervals of mineralization include,
72.0 m of 0.66% CuEq or 0.91 g/t AuEq starting from 112 m (KMZ); and
141 m of 0.30% CuEq or 0.41 g/t AuEq starting from 330 m (Kliyul North).
In the KMZ interval, mineralization is hosted in brecciated volcaniclastic andesite in the hanging wall of a
healed fault zone at 156-184 m. Alteration is potassic (magnetite-chlorite ± biotite ± actinolite) and
phyllic (sericite-chlorite ± albite ± ankerite). Veins include early-, intermediate-, and late-stage types.
Chalcopyrite-pyrite mineralization is vein-hosted and disseminated.
In the Kliyul North interval, mineralization is hosted in volcaniclastic andesite with an early diorite intrusion
from 367-433 m. Alteration is phyllic and propylitic (epidote-chlorite ± anhydrite ± albite) overprinting
relict potassic. Mineralization is vein-hosted and disseminated pyrite > chalcopyrite.
KLI-22-046
(azimuth 360°, inclination -55°) provided a 100-150 m westward step-out from
mineralization in KLI-15-035 and KLI-22-042 in Kliyul North. The drill hole was collared in KMZ and
intersected the Valley Fault at 92 m after which drilling remained in Kliyul North until end-of-hole at 501.0
m. Significant intervals of mineralization include,
169.0 m of 0.55% CuEq or 0.75 g/t AuEq starting from 273 m (Kliyul North); including
59.0 m of 0.89% CuEq or 1.22 g/t AuEq starting from 371 m (Kliyul North).
Mineralization is hosted in volcaniclastic andesite and an early diorite dyke and local rock-flour matrix
breccia.
Alteration is alternating sericite-chlorite and propylitic assemblages with local phyllic overprint.
Veins include mainly early-to-intermediate stage types. Chalcopyrite-pyrite mineralization is vein-hosted
and disseminated.
KLI-22-047
(azimuth 008°, inclination -55°) tested a plug-shaped chargeability-resistivity geophysical
target 500 m west of KMZ along the Valley Fault Trend. The drill hole was collared 500 m west of Lui
Fault in a large step-out into Kliyul West zone. The Valley Fault zone appears to have been intersected
between 329-352 m and drilling continued into Kliyul North zone to 486 m. The best mineralized interval
is,
53.0 m of 0.18% CuEq or 0.25 g/t AuEq starting from 332 m (Kliyul West/Kliyul North).
Weak mineralization is spatially related to the interpreted Valley Fault. It is hosted in volcaniclastic
andesite with a narrow (1.4 m) diorite dyke. Alteration is phyllic. Mineralization is fracture fill and
disseminated pyrite > chalcopyrite. Intermediate-stage pyritic veins (D vein equivalent) are also noted.
KLI-22-048A
(azimuth 290°, inclination -65°) tested a chargeability-resistivity geophysical target 600 m
east of KMZ along the Valley Fault Trend. KLI-22-048A was a re-entry on KLI-22-048 due to a cave-in
while reducing from HQ to NQ. The drill hole was collared 500 m east of the Divide Lake Fault in a large
step-out into Kliyul East zone. For logistical reasons the hole was collared above the projected Valley
Fault zone and drilled into Kliyul North where it continued to 591.0 m. The best mineralized interval is,
10.0 m of 0.46% CuEq or 0.63 g/t AuEq starting from 352 m (Kliyul North).
Narrow mineralization is spatially related to a foliated shear zone at 347-361 m and hosted in
volcaniclastic andesite. Alteration is chlorite-sericite overprinting relict potassic. Mineralization is
disseminated and vein-hosted pyrite > chalcopyrite. Quartz-rich barren veins are also noted.
KLI-22-049
(azimuth 345°, inclination -65°) tested favourable surface alteration and trace element
geochemistry as well as a transition from low to high chargeability in the East Wedge zone, a 300 m
eastward step-out from KLI-22-045 in KMZ. East Wedge is a block defined by the intersection of Divide
Lake Fault and Valley Fault. The drill hole was collared in KMZ about 300 m southeast of KLI-22-045 and
30 m southwest of Divide Lake Fault. The fault zone was intersected from 37-167 m. Drilling remained in
East Wedge to 468 m where it intersected Valley Fault at depth and then continued in Kliyul North to
end-of-hole at 603.0 m. Significant intervals of mineralization constrained by zone boundaries include,
66.0 m of 0.41% CuEq or 0.57 g/t AuEq starting from 250 m (East Wedge); and
16.0 m of 0.63% CuEq or 0.87 g/t AuEq starting from 468 m (Kliyul North).
In the East Wedge interval, mineralization is spatially related to a fault strand at 309-318 m and is hosted
in volcaniclastic andesite. Alteration is chlorite-sericite and propylitic assemblages overprinting
potassic. Veins include early-, intermediate-, and late-stage types. Intermediate-stage (D type) veins are
associated with the fault. Mineralization is disseminated, fracture fill and vein-hosted pyrite > chalcopyrite
± bornite.
In the Kliyul North interval, mineralization is adjacent to Valley Fault and hosted in volcaniclastic andesite.
Alteration is phyllic. Veins are early- and intermediate stage. Mineralization is disseminated, fracture fill
and vein-hosted pyrite > chalcopyrite.
KLI-22-050
(azimuth 048°, inclination -54°) was designed to test mineralization in Kliyul West at the top-
of-hole and then continue across KMZ towards Valley Fault at depth. The drill hole was collared in Kliyul
West about 110 m southwest of the Lui Fault. The fault zone was intersected from 228-250 m. Drilling
remained in KMZ to end-of-hole at 807.0 m and ended in the Valley Fault zone (starting from 800 m)
without crossing completely through into Kliyul North. Significant intervals of mineralization constrained
by zone boundaries include:
180.5 m of 0.33% CuEq or 0.45 g/t AuEq starting from 58 m (Kliyul West); and
204.5 m of 0.87% CuEq or 1.19 g/t AuEq starting from 239 m (KMZ).
In the Kliyul West interval, mineralization is hosted in volcaniclastic andesite with a diorite dyke (14.1 m)
and feldspar porphyry dyke (5.4 m), and secondary fault structures (14-19 m wide) at 103 m and 160 m.
Alteration is chlorite-sericite locally overprinting potassic. Veins include early-, intermediate-, and late-
stage types. Intermediate-stage (D type) veins are associated with the fault at 103 m. Mineralization is
disseminated, fracture fill and vein-hosted pyrite > chalcopyrite.
In the KMZ interval, mineralization is hosted in volcaniclastic andesite with a few narrow (<4 m) diorite
and hornblende porphyry dykes. Alteration is moderate-strong potassic with patchy overprinting chlorite-
sericite. Veins include early-, intermediate-, and late-stage types. Mineralization is mainly disseminated,
fracture fill and vein-hosted chalcopyrite > bornite, or chalcopyrite > pyrite.
Upcoming Events
January 23-24, AME Roundup, booth number 116, Vancouver;
January 25-26, AME Roundup, core shack, Vancouver;
January 27-28, Metals Investor Forum (MIF), Vancouver; and
January 29-30, Vancouver Resource Investment Conference (VRIC), booth number 500,
Vancouver.
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") (TSX: CG) (NYSE: CGAU) Kemess Project and close to existing infrastructure
(see Figure 4). 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 5).
Figure 4
Location of Kliyul
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5460/151711_f5caf1e3c44a08e9_004full.jpg
Figure 5
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/5460/151711_f5caf1e3c44a08e9_005full.jpg
KMZ is the most intensely explored target area at Kliyul, with 33 drill holes (5,524 m) drilled prior to
Pacific Ridge's first ever drill program in 2021. Most of the historical drilling targeted near-surface
copper-gold mineralization. The results of the Company's 2021 and 2022 Kliyul drill campaigns are
shown in Table 2.
Porphyry copper mineralization at Kliyul comprises vein-hosted, fracture fill, and disseminated
chalcopyrite with lesser amounts of bornite. Vein-hosted mineralization is associated with early-to-
intermediate stage 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 selvages
including chlorite, sericite or albite. Mineralization is mainly hosted by andesite and volcaniclastic
andesite, although feldspar porphyry and equigranular diorite can also be hosts, and fault structures are
commonly spatially related to mineralization. Magnetite is the main preserved mineral of the potassic
assemblage which has been largely and variably overprinted by retrograde alteration assemblages
(chlorite-sericite and phyllic/sericitic). 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).
Table 2
2021 and 2022 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
0.22
0.60
1.62
0.68
0.93
12.0
65.0
53.0
0.22
0.83
1.52
0.84
1.15
12.0
33.0
21.0
0.34
1.30
2.48
1.31
1.80