Pacific Ridge Reports Last Drill Hole from the 2021 Drill Program at the Kliyul Copper-Gold Porphyry Project; Announces Plans for an Expanded Drill Program in 2022
Pacific Ridge Reports Last Drill Hole from the
2021 Drill Program at the Kliyul Copper-Gold
Porphyry Project; Announces Plans for an
Expanded Drill Program in 2022
Vancouver, British Columbia--(Newsfile Corp. - February 15, 2022) - Pacific Ridge Exploration Ltd.
(TSXV: PEX) (OTCQB: PEXZF) ("Pacific Ridge" or the "Company") is pleased to announce assay
results from drill hole KLI-21-038 (see Table 1), the third and last diamond drill hole ("DDH") completed
in 2021 at the Kliyul copper-gold porphyry project ("Kliyul" or "Project"), located in the prolific Quesnel
Trough in Northwest B.C. (see Figure 1).
Table 1
2021 Kliyul assay results summary
Hole
From (m)
To (m)
Width (m)
Cu (%)
Au (g/t)
CuEq (%)
AuEq (g/t)
KLI-21-036*
12.0
449.0**
437.0
0.22
0.60
0.61
0.96
Includes
12.0
65.0
53.0
0.22
0.83
0.75
1.17
And
12.0
33.0
21.0
0.34
1.30
1.17
1.84
And
47.0
65.0
18.0
0.22
0.89
0.79
1.23
Includes
143.3
435.0
291.7
0.28
0.74
0.75
1.18
And
294.0
435.0
141.0
0.36
1.11
1.07
1.68
KLI-21-037*
12.3
579.0**
566.7
0.20
0.44
0.48
0.76
Includes
12.3
329.0
316.7
0.30
0.70
0.75
1.17
And
62.0
73.0
11.0
0.42
1.22
1.20
1.88
And
90.0
122.0
32.0
0.52
0.88
1.08
1.70
And
146.0
161.0
15.0
0.39
1.19
1.16
1.81
And
238.8
288.1
49.4
0.66
1.50
1.62
2.53
And
243.9
268.0
24.1
1.09
2.21
2.50
3.92
KLI-21-038
9.0
516.0**
507.0
0.15
0.39
0.40
0.63
Includes
9.0
351.0
342.0
0.17
0.50
0.50
0.78
And
9.0
43.0
34.0
0.27
0.72
0.73
1.15
And
108.0
136.0
28.0
0.21
0.60
0.59
0.93
And
153.1
186.0
32.9
0.24
0.78
0.73
1.15
And
261.0
349.0
88.0
0.26
0.84
0.80
1.25
*Previously reported
** End of hole
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% - there has been no metallurgical testing on Kliyul mineralization
Click on the link below for complete assay results from hole KLI-21-038.
https://pacificridgeexploration.com/site/assets/files/5873/kli_21_038_assays_cu_au.pdf
Highlights of the 2021 DDH Program:
Successfully extended mineralization at the Kliyul Main Zone ("KMZ") to the west and to depth;
mineralization at KMZ remains open to the west, south, southwest, southeast, northeast, and to
depth.
Every DDH returned significant copper-gold mineralization, notably better than the copper-gold
mineralization returned in historic drill holes (see Table 2).
Encountered values up to 4.0% Cu and 5.8 g/t Au over select intervals, some of the highest-grade
intercepts encountered in deep drilling at KMZ.
The presence of bornite in KLI-21-036 and KLI-21-038 is encouraging as it commonly occurs in
the core of porphyry systems and its presence can be used to vector towards the porphyry centre.
"We are extremely pleased with the results from our maiden drill program at Kliyul," said Blaine
Monaghan, President and CEO of Pacific Ridge. "We encountered significant copper-gold
mineralization in every drill hole and materially enhanced the mineralized footprint at KMZ with a limited
amount of drilling. The results from 2021 lay the foundation for a significantly expanded drill program in
2022."
Discussion of DDH KLI-21-038
KLI-21-038, drilled vertically from the same drill pad as KLI-21-037 (see Figure 4), was designed to test
for mineralization at depth. KLI-21-038 returned 0.15% Cu and 0.39 g/t Au over 507 m, from the top of
bedrock (9 m) over its entire length, but had to be terminated at 516 m before reaching its target depth
due to technical difficulties. This is an important DDH as it refines the mineralization geometry and target
concept. The strongest Cu-Au mineralization encountered occurs within a zone of moderate to strong
magnetite-chlorite-quartz +/- epidote-albite alteration. Sulphide minerals occur as pyrite and lesser but
significant chalcopyrite and bornite, which are hosted within veins of quartz-magnetite, anhydrite-quartz
and epidote-quartz cross-cutting the volcaniclastic andesite of the Late Triassic Takla Group, as well as
diorite intrusions.
This provides important characteristics of the mineralizing system and it's
paragenesis.
Near the bottom of the KLI-21-038, Cu-Au values
both increase and are associated with
increased anhydrite and epidote veining which could indicate proximity to another zone of higher grade
mineralization.
2022 Kliyul Exploration Plans
Pacific Ridge is planning to drill a minimum of 5,000 m at Kliyul in 2022. The focus of the drill campaign
will be expanding KMZ along strike and at depth. The Company also plans to test the Kliyul East and
Kliyul West targets (see Figures 6-9), which have never been drill tested. Both targets have high
chargeability and moderate to high resistivity signatures, similar to KMZ. While Kliyul West is hidden
under till cover, porphyry-style alteration and encouraging geochemical pathfinders are observed in
outcrop at Kliyul East. In addition to drilling KMZ, Kliyul East and Kliyul West, an IP survey, possibly
followed by drilling, is planned at Bap Ridge, one of five interpreted porphyry centres that occur along a 4
km mineralized trend (see Figure 10). Pacific Ridge is also planning an airborne magnetic survey to help
delineate the structure, geology and alteration over this highly prospective trend.
Figure 1:
Location of Kliyul
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5460/113827_36618cfe5420285c_001full.jpg
Figure 2:
Plan view of 2021 drill hole collars and traces projected to surface, selected historical drill
highlights projected to surface (see Table 3), and the IP chargeability inversion (interpreted as a guide
to mineralization)
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5460/113827_36618cfe5420285c_002full.jpg
Figure 3:
Plan view of 2021 drill hole collars and traces projected to surface, selected historical drill
highlights projected to surface (see Table 3), and DCIP resistivity inversion
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/5460/113827_36618cfe5420285c_003full.jpg
Figure 4:
Cross-section of 2021 drill holes, selected historical drill intercepts (see Table 3), and the IP
chargeability inversion
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/5460/113827_36618cfe5420285c_004full.jpg
Figure 5:
Cross-section of 2021 drill holes, selected historical drill intercepts (see Table 3), and DCIP
resistivity inversion
To view an enhanced version of FIgure 5, please visit:
https://orders.newsfilecorp.com/files/5460/113827_36618cfe5420285c_005full.jpg
Figure 6:
KMZ IP plan view showing Kliyul East and West Targets
To view an enhanced version of Figure 6, please visit:
https://orders.newsfilecorp.com/files/5460/113827_36618cfe5420285c_006full.jpg
Figure 7:
KMZ IP cross-section showing Kliyul East and West Targets
To view an enhanced version of Figure 7, please visit:
https://orders.newsfilecorp.com/files/5460/113827_36618cfe5420285c_007full.jpg
Figure 8:
KMZ DCIP resistivity inversion plan view showing Kliyul East and West Targets
To view an enhanced version of Figure 8, please visit:
https://orders.newsfilecorp.com/files/5460/113827_36618cfe5420285c_008full.jpg
Figure 9:
KMZ DCIP resistivity inversion cross section showing Kliyul East and West Targets
To view an enhanced version of Figure 9, please visit:
https://orders.newsfilecorp.com/files/5460/113827_36618cfe5420285c_009full.jpg
Figure 10:
Kliyul target areas
To view an enhanced version of Figure 10, please visit:
https://orders.newsfilecorp.com/files/5460/113827_36618cfe5420285c_010full.jpg
About the Kliyul Project
Over 60 sq-km in size, Kliyul is located 50 km southeast of Centerra Gold Inc's Kemess mine and 5 km
from the Omineca mining road in one of the most prospective areas for copper and gold porphyries in
the prolific Quesnel Terrane. The Project contains five main target areas: KMZ, Bap Ridge, Ginger, M39,
and Paprika, each representing an interpreted porphyry centre over a 4 km strike length (see Figure 10).
KMZ is the most intensely explored of these, with 36 drill holes (7,068 m) drilled since 1974, most of
which targeted a near-surface copper-gold magnetite zone (drill holes KL-5 to KL-93-5). Deeper drilling
in 2006 and 2015 encountered a porphyry copper-gold system (drill holes KL06-30 to KL-15-035).
See
Table 2 for selected historical drill results.
The Project displays classic porphyry copper-gold deposit alteration and mineralization patterns.
Geological interpretation, supported by a variety of geophysical surveys, including IP, magnetics and
magnetotellurics, suggest the potential to significantly expand the size of the Kliyul mineralized system.
Pacific Ridge has the right to earn a 51% interest in the Kliyul and Redton projects from AuRico Metals
Inc., a wholly owned subsidiary of Centerra Gold Inc., by making cash payments totaling $100,000,
issuing 2.0 million shares and spending $3.5 million on exploration by December 31, 2023. The
Company then has the right to increase its interest in the properties to 75% by making additional
payments totaling $60,000, issuing 1.5 million shares and completing an additional $3.5 million in
exploration by December 31, 2025.
Table 2 -
Selected historical drill results
Ref
Hole
From (m)
To (m)
Width (m)
Cu (%)
Au (g/t)
CuEq (%)*
AuEq (g/t)**
A
KL-5
10.8
68.3
57.5
0.32
0.99
0.95
1.49
B
KL-6
30.1
78.9
48.8
0.31
1.33
1.16
1.82
C
KL-7
20.0
71.0
51.0
0.17
1.19
0.93
1.46
D
KL-93-4
46.0
102.0
56.0
0.34
0.89
0.91
1.42
E
KL-93-5
16.0
76.0
60.0
0.26
1.34
1.11
1.75
F
KL-06-30
22.0
239.8
217.8
0.23
0.52
0.56
0.88
G
KL-06-31
346.0
378.0
32.0
0.21
0.62
0.61
0.95
P
KL-15-033
32.5
194.9
162.4
0.20
0.26
0.37
0.57
H
KL-15-034
37.5
90.0
52.5
0.24
0.17
0.35
0.55
I
KL-15-034
123.0
368.0
245.0
0.18
0.53
0.52
0.81
J
Including
280.6
301.0
20.4
0.39
2.55
2.02
3.16
K
KL-15-034
426.0
465.7
39.7
0.20
0.66
0.62
0.97
L
KL-15-035
331.0
380.0
49.0
0.16
0.22
0.30
0.47
M
KL-15-035
399.5
462.8
63.3
0.26
0.28
0.44
0.69
N
Including
414.0
433.5
19.5
0.43
0.56
0.79
1.23
O
KL-15-035
474.7
502.0
27.3
0.11
0.18
0.22
0.35
*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% - there has not yet been metallurgical testing on Kliyul mineralization.
QA/QC