Prospect Ridge Resources Anounces New Results up to 57.3 Grams PER Tonne GOLD and up to 116 Grams PER Tonne Silver from Recently Acquired Historic Dorreen MINE
488-1090 West Georgia Street
Vancouver, BC V6E 3V7
778-788-4836
PROSPECT RIDGE RESOURCES ANOUNCES NEW RESULTS UP TO 57.3 GRAMS PER TONNE
GOLD AND UP TO 116 GRAMS PER TONNE SILVER FROM RECENTLY ACQUIRED HISTORIC
DORREEN MINE
Vancouver – December 6, 2021 – Prospect Ridge Resources Corp. (the "Company" or "Prospect
Ridge") (CSE: PRR) (OTC: PRRSF) (FRA: OED) – is pleased to announce results from preliminary
exploration at the historic Dorreen Mine on the recently acquired Knauss Creek property,
returning assays up to 57.3 grams per tonne gold and 116 grams per tonne silver, 7.03 percent
lead, 0.5 percent copper and 2.46 percent zinc.
The Dorreen Mine site is located only 5 linear-kilometers from CN Rail with a direct line to deep
water port at Kitimat and only 1.9 kilometers away from the nearest logging roads. The Knauss
Creek property is contiguous with the Holy Grail property, located on the eastern side of the
district-scale land package. The mine was intermittently developed since discovery in 1912 till
1952; including significant underground workings, construction of a mill, aerial tramway and
construction of a haul road to the Dorreen townsite. Below are some of the historic highlights.
Historical Highlights
• In 1952, 20 tons of bulk concentrate shipped to the Trail smelter assayed: 163.54 grams
per tonne gold; 406.51 grams per tonne silver; 17.3 percent lead; 7.4 percent zinc; 2.6
percent copper. (Carswell, H.T.,(1955). Mineragraphic Study of the Ores of Dorreen
Mine, British Columbia. University of British Columbia. Property File 600252)
• Multiple stacked veins; channel sample of Main Dorreen Vein returned up to 33.6 grams
per tonne gold, 161.8 grams per tonne silver, 6.73% Pb, 35% Zn and 1.04% Cu over 0.30
meter.
• Channel sample on a parallel vein 21 meters stratigraphically above the main vein
assayed 32.2 grams per tonne gold, 19.2 grams per tonne silver, 1.28% Pb and 0.24%
Cu over 0.20 meter.
• In 1952, 476 tonnes of ore was shipped and 3266 grams of gold, 8118 grams of silver,
3137 kilograms of lead and 1342 kilograms of zinc were recovered.
• In 1926, first 27 tonnes from 90 tonne shipment averaged 39.87 grams per tonne gold,
165.1 grams per tonne silver, 6.1 percent lead and 3.8 percent zinc.
• In 1924, 80 tonnes of ore was shipped and reportedly assayed 57.26 grams per tonne
gold, 205.71 grams per tonne silver, 1.3 per cent copper, 6.2 per cent lead and 5.8 per
cent zinc.
In 2021, the father and son prospecting team of Jay and Cam Kelso located the primary portal
and were able to take three samples across the meter to 1.5 meter wide vein returning
488-1090 West Georgia Street
Vancouver, BC V6E 3V7
778-788-4836
exceptional grades up to 57.3 grams per tonne gold and 116 grams per tonne silver, 7.03 percent
lead, 0.5 percent copper and 2.46 percent zinc. From the three samples taken, all returned over
10 grams per tonne gold. Samples were taken from a raise that ran perpendicular to the main
adit on level 2 and towards the south (Figure 1).
Figure 1. Underground Workings Doreen Mine and Sample Locations
Investigation of the main adit showed that despite being inactive for decades it remained
astonishingly intact, demonstrating the competency of the host rock for underground
development. As shown in the figure above, in most parts of the underground workings the vein
is fully exposed further displaying the continuity of the mineralization (Figure 2).
488-1090 West Georgia Street
Vancouver, BC V6E 3V7
778-788-4836
Figure 2. Images from within the Dorreen Mine
Regionally, the site is immediately north of the contact with the volcano sedimentary rocks of
the Hazelton group, a prominent group in the Golden Triangle and the primary host rock at
Pretivm’s Brucejack mine (Figure 5). The main vein is slightly dipping to flat laying, conforming to
the bedding of the host shales and siltstones of the Bowser lake group and cross cut by a later
quartz diorite dyke. The veins are mesothermal to transitional style quartz stockworks, breccias
and veins bearing pyrite, chalcopyrite, galena, arsenopyrite, covellite, sphalerite and
tetrahedrite. Previous thin section work from a 1955 UBC Master thesis also identified micron
scale free-gold fully encompassed in the quartz gangue, rather than restricted to fractures or
inclusions in the sulphide minerals. The geological setting also resembles turbidite-hosted gold
deposits similar to the Gander area in Newfoundland, currently being explored by Newfound
488-1090 West Georgia Street
Vancouver, BC V6E 3V7
778-788-4836
Gold Corp., where the reduced environment generated by the shales forms a conducive
environment for gold to precipitate. Below are the tabulated initial results from the Dorreen
Mine sampling.
SAMPLE Au (g/t) Ag (g/t) Pb (%) Zn (%) Cu (%)
C363051 26.5 54.9 1.205 0.26 0.17
C363052 57.3 105 3.53 0.72 0.51
C363053 12.6 116 7.03 2.46 0.086
Figure 3. 2021 Initial Sampling Results Dorreen Adit
Michael Iverson, CEO states, “We are excited to announce these outstanding initial sample
results from the Historic Dorreen Mine and also that we have more results coming from the
alternate portals to the north, and I can say the vein holds true in size and shows all the same
juice.” Mike Iverson continues, “This is one of four significant zones on this recently acquired
Knauss Property, and they are all pointing towards each other with the Dorreen smack in the
middle; stay tuned, there is really something cooking here”.
Based on these preliminary results and geology a large focus will
be put into revaluating the Dorreen Mine and the potential for
additional high-grade vein sets. Work is already underway in
digitizing all the historic records to aid in exploration. Future field
work consisting of an initial Lidar survey, reconnaissance
prospecting, soil sampling, follow up channel sampling; as well as
bedrock mapping to better understand the mineralizing controls,
is planned in preparation for drilling. The property is well-
accessible through a network of logging roads and close to
primary infrastructure, allowing for cost-effective exploration and
good feasibility.
Figure 4. North Adit, Assays
Pending
488-1090 West Georgia Street
Vancouver, BC V6E 3V7
778-788-4836
Figure 5 – Dorreen Location and Regional Geology Map
Qualified Person
All scientific or technical information included in this news release has been reviewed, verified
and approved by Rein Turna, P.Geol., a consultant to the Company and a qualified person as
defined by National Instrument 43-101.
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
488-1090 West Georgia Street
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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
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is
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
of management of the Company regarding future events. Generally, forward-looking statements
and information can be identified by the use of forward-looking terminology such as “intends” or
“anticipates”, or variations of such words and phrases or statements that certain actions, events
or results “may”, “could”, “should”, “would” or “occur”. This information and these statements,
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, positive exploration results at the Knauss Creek
488-1090 West Georgia Street
Vancouver, BC V6E 3V7
778-788-4836
project. 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, that future exploration results at the Knauss
Creek project will not be as anticipated.
In making the forward looking statements in this news release, the Company has applied several
material assumptions, including without limitation, that future exploration results at the Knauss
Creek project 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
such statements. Accordingly, readers should not place undue reliance on forward-looking
statements and forward-looking information. Readers are cautioned that reliance on such
information may not be appropriate for other purposes. The Company does not undertake to
update any forward-looking statement, forward-looking information or financial out-look that
are incorporated by reference herein, except in accordance with applicable securities laws. We
seek safe harbor.