Prospect Ridge Resources Announces 24.8 Grams PER Tonne GOLD Sampling at the Mint 2 B Showing ON the Holy Grail District Scale Property
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PROSPECT RIDGE RESOURCES ANNOUNCES 24.8 GRAMS PER TONNE GOLD SAMPLING AT THE
MINT 2 B SHOWING ON THE HOLY GRAIL DISTRICT SCALE PROPERTY
Vancouver – November 16, 2021 – Prospect Ridge Resources Corp. (the "Company" or "Prospect
Ridge") (CSE: PRR) (OTC: PRRSF) – is pleased to announce initial exploration results from the first
pass on the Mint 2 B quartz stockwork at the newly acquired Knauss Creek Property. Multiple
high grade grab samples returned up to 24.8 g/t gold and 4,740 g/t silver in the stockwork and
multiple samples within the granodiorite host rock returning grades above 3 g/t gold.
• Granodiorite host rock to the J veins constantly returns +3 g/t gold
• J1 vein assayed up 24.8 g/t gold, 252 g/t silver, 0.8% copper, 3.3% lead, and 2.3% zinc
• In total 12 grab samples were taken all returning significant precious metal and base
metal values demonstrating high potential on the polymetallic auriferous-quartz veins
• 5 additional J type veins identified with results pending
Michael Iverson, CEO states, “Prospect Ridge team continues to quickly demonstrate that the
Holy Grail district has been an overlooked opportunity. The bonanza polymetallic grades at the
road accessible Mint 2 B, only 35 kilometres from Terrace and just 3 kilometres from existing rail,
is a clear demonstration of potential of the property. We have barely scratched the surface at
this target which is just one of the many targets already identified to date. We look forward to
continuously sharing news from our expeditious exploration program of the entire district.”
On November 3, 2021 the Company acquired an option to purchase a 100% interest in the Knauss
Creek Property that creates a contiguous package with already held Holy Grail claims (see Figure
1). Confirmation of historical work focused on the “Saturn” MINFILE No 103I188, the official
mineral inventory files of the British Columbia Geological Survey, which hosts the Mint 2 B
showing, 3 parallel auriferous-quartz veins, J1, J2 and J3.
Multiple chip and grab samples were taken during the first pass ground truthing work program
with summary in Table 1, and sample photos in Figure 2. Samples of the J1 vein assayed up 24.8
g/t gold, 252 g/t silver, 0.8% copper, 3.3% lead, and 2.3% zinc. In addition, multiple samples in
the intrusive assayed above 3 g/t gold indicating bulk tonnage potential.
Work also included visiting 2 small adits, confirmed by the team to be to be a stockwork network
of cross cutting sulphide-rich quartz veins. The larger vein sets trend NW-SE on the same trend
as the historical Dorreen mine, and the company believes that the veins may tie into the same
system. The J veins have been traced over 1.5 kilometres to the northwest and identified more
veins 2.5 km on strike to the southeast. The J vein set all dip near vertical. In addition, the team
is focusing on two large granite diorite plugs located between Shock and Awe and Mint 2 B. The
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company believes that the two plugs have the potential to be an intrusive related gold system
and the source driving the gold to the system.
Figure 1 – Knauss Creek Property Location
SAMPLE Gold Silver Copper Lead Zinc
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g/t g/t % % %
C363001 24.80 252.0 0.8% 3.3% 2.3%
C363002 3.13 232.0 0.5% 2.6% 1.5%
C363007 0.38 170.0 0.2% 3.1% 0.4%
C363008 3.34 440.0 0.2% 1.1% 1.5%
C363009 0.02 2.5 0.0% 0.0% 0.0%
C363011 0.06 89.3 0.2% 1.5% 0.5%
C363054 1.47 185.0 0.6% 3.0% 2.6%
C363055 2.06 179.0 0.3% 2.7% 2.4%
C363057 3.42 140.0 0.3% 0.6% 0.9%
C363058 0.96 216.0 0.4% 3.7% 1.3%
C363059 3.98 4740.0 0.5% 0.8% 0.3%
C363060 0.13 18.1 0.0% 0.1% 0.1%
Table 1 – Summary of first pass Chip and Grab Samples at Mint 2 B Showing
The Company continued soil sampling grids, chip and grab samples, channel samples, and 3D
drone imagery in evaluation of the Mint 2 B showing and have already added an additional five
J-type veins to assay results pending the team still has boots on the ground mapping and
continuous sampling to evaluate and delineate future drill hole targets.
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Sample C363001
Semi massive sulphides in quartz vein cross
cutting J 1
Sample C363002
Galina pyrite, chalco py in quartz J 1
Sample C363057
Grab sample from j5 quartz vein py/arcino py
Sample C363059
Meter 3 of 4m chip of j2 adit mix
quartz/diorite
Figure 2
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MINFILE No 103I188
MINFILE is the official mineral inventory files of the British Columbia Geological Survey. MINFILE
No 130I188 contains the historical Saturn showing and Mint 2 B showing, which contains the 3
parallel auriferous-quartz veins, J1, J2 and J3. Key highlights include:
• Locally, three parallel quartz veins (J1, J2 and J3), approximately 75 metres apart in total,
occur in a small diorite intrusive which cuts tuffs and argillites of the Jurassic to Cretaceous
Bowser Lake Group. The veins, which strike 030 degrees and dip steeply east, are 1 to 2
metres wide and are mineralized with pyrite, chalcopyrite, galena, and sphalerite.
• A 30 centimetre sample assayed 1.7 grams per tonne gold, 261 grams per tonne silver,
and 1.1 per cent copper (Minister of Mines Annual Report 1914) and a selected sample
from a dump assayed 1.4 grams per tonne gold, 377 grams per tonne silver, 11 per cent
lead, 8 per cent zinc, and 1 per cent copper (Minister of Mines Annual Report 1932).
• In 2003, two samples (S615 and S616) from the J1 vein assayed 1.54 and 18.54 grams per
tonne gold, 541 and 109 grams per tonne silver, and 0.665 and 1.43 per cent lead,
respectively. A sample (S613) of the J2 vein assayed 29.54 grams per tonne gold, 415
grams per tonne silver, 0.185 per cent copper, 4.17 per cent lead and 0.121 per cent zinc
(Assessment Report 27225).
For more information; http://prospectridgeresources.com/investor-news-updates/
Qualified Person
All scientific or technical information included in this news release has been reviewed, verified
and approved by Rein Turna, P.Geo., a consultant to the Company and a qualified person as
defined by National Instrument 43-101.
About Knauss Creek
The Knauss Creek Property mineral claims are located in the Ominica Mining Division in British
Columbia. The southern portion of the Property is approximately 35 km northeast of the City of
Terrace covering 3,152 hectares in mineral claims. The Knauss Creek Property is being explored
for polymetallic veins and potential associated skarn and porphyry mineralization within an
orogenic geological environment. The property contains the Dorreen mine with historical
production up to 57.26 grams per tonne gold, and 205.71 grams per tonne silver.
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About Holy Grail
The Holy Grail Property is 10 kilometers outside of Terrace within 45 km from smelter and deep
sea port; the property is easy-accessible bounded by two highways with CN rail, high tension
power crossing the property and a network of logging roads over approximately 80% of the
property which will make for a very cost-effective exploration and strong feasibility. Some of the
key areas are located below tree line and can be worked nearly year-round.
The Holy Grail district sized package now contains over 80,000 hectares. The property was
selected based on regional geological, structural, and geochemical resemblances that coincide
with mineralization 50 km northwest in the Golden Triangle. The Company believe the project
has the potential for a district scale hydrothermal system and will extend the boundaries of the
Golden Triangle to cover this vast under-explored region.
About Prospect Ridge Resources Corp.
Prospect Ridge Resources Corp. is a BC based exploration and development company focused on
strategic mineral exploration in Canada concurrently with developing a location in British
Columbia and Quebec. Prospect Ridge’s technical team and management with over 100
combined years of mineral exploration experience believes the Holy Grail to have the potential
for a district scale hydrothermal system and will extend the boundaries of the Golden Triangle to
cover this vast under-explored region.
Contact Information
Prospect Ridge Resources Corp.
Michael Iverson, Chief Executive Officer
Email: [email protected]
Telephone: 778-788-4836
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defined in the policies of the Canadian Securities Exchange) accepts responsibility for the
adequacy or accuracy of this release.
This release includes certain statements and information that may constitute forward-looking
information within the meaning of applicable Canadian securities laws. Forward-looking
statements relate to future events or future performance and reflect the expectations or beliefs
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referred to herein as "forward-looking statements", are not historical facts, are made as of the
date of this news release and include without limitation, statements regarding discussions of
future plans, estimates and forecasts and statements as to management's expectations and
intentions with respect to, among other things, anticipated exploration and sampling results on
the Holy Grail and Knauss Creek properties. These forward-looking statements involve numerous
risks and uncertainties and actual results might differ materially from results suggested in any
forward-looking statements. These risks and uncertainties include, among other things, the risk
that exploration and sampling results will be negative or not as anticipated.
In making the forward looking statements in this news release, the Company has applied several
material assumptions, including without limitation, that exploration and sampling results will be
as anticipated.
Although management of the Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in forward-looking statements or
forward-looking information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such statements will prove to
be accurate, as actual results and future events could differ materially from those anticipated in
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