Vancouver, B.C. – June 6, 2024 – Pacific Ridge Exploration Ltd. (PEX: TSX Venture; PEXZF: OTCQB; PQWN: FSE) (“Pacific Ridge” or the “Company”) is pleased to announce its 2024 exploration plans which include a diamond drill program at the Chuchi copper-gold project (“Chuchi”), Z-Axis Tipper Electromagnetic (“ZTEM”) and magnetotellurics (“MT”) geophysical surveys at the Kliyul copper-gold project (“Kliyul”) and an induced polarization (“IP”) survey at the Redton copper-gold project (“Redton”). Chuchi, Kliyul, and Redton are located in the prolific Quesnel terrane in northcentral British Columbia (see Figure 1).
Highlights:
- Chuchi: Pacific Ridge is planning to drill 2,400 m at Chuchi in 2024. This will be the Company’s first ever drill program at Chuchi and will be focused on the BP Zone (see Figure 2). Pacific Ridge believes that the BP Zone has significant, untested potential for porphyry copper-gold mineralization at depth as many of the historic drill holes were shallow, less than 150 m in depth, and ended in mineralization (see Table 1 for BP Zone Drill Highlights). The drill program is expected to commence mid-August.
- Kliyul: Pacific Ridge is planning ZTEM and MT geophysical surveys at Kliyul this year to aid in the discovery of higher-grade copper-gold mineralization and a porphyry centre or centres. The last hole of the 2023 drill campaign, drill hole KLI-23-069, returned 45.0 m of 0.58% copper equivalent (“CuEq”)1 or 0.86 g/t gold equivalent (“AuEq”)2 (0.38% copper, 0.28 g/t gold, and 2.20 g/t silver) at a downhole depth of 584 m. This is the deepest mineralized interval ever encountered at Kliyul and the Company believes that it provides a vector for a higher-grade porphyry centre at the Kliyul Main Zone (“KMZ”) (see news release dated January 9, 2024). The ZTEM survey is expected to commence mid-July with the MT survey to follow.
- Redton: Pacific Ridge is planning an IP survey at Redton, which adjoins the eastern boundary of NorthWest Copper Corp.’s Kwanika copper-gold deposit, to refine future drill targets. The IP survey is expected to commence in July.
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“I’m very excited about the upcoming drill program because I believe, based on our exploration results, that we can extend copper-gold mineralization at Chuchi to depth,” said Blaine Monaghan, President & CEO of Pacific Ridge. “Also, I’m very optimistic that the ZTEM and MT surveys will aid in the discovery of higher-grade copper-gold mineralization and a porphyry centre at KMZ, and other porphyry centres within the six-kilometre-long mineralized trend at Kliyul.”
Figure 1
Location of Chuchi, Kliyul, and Redton
About Chuchi
Chuchi (or the “Project”) is over 160 km2 in size and comprises of three claim blocks, Chuchi, under option from Centerra Gold Inc. (“Centerra”)(TSX: CG)(NYSE: CGAU), and Chuchi South and Chuchi West, under option from American Copper Development Corporation (ACDX: TSXV). The Project is road accessible and is located approximately 35 km northwest of Centerra’s Mount Milligan Mine. Chuchi hosts several compelling exploration targets within a six-kilometre-long porphyry trend, including the BP Zone. The Company believes that that the BP Zone has significant, untested potential for porphyry copper-gold mineralization at depth as many of the historic drill holes were shallow, less than 150 m in depth, and ended in mineralization. Further, the porphyry centre has yet to be identified.
Figure 2
Chuchi Targets
Table 1
BP Zone Drill Highlights3
| Hole No. | From (m) | To (m) | Width (m) | Cu (%) | Au (g/t) | CuEq (%)4 | AuEq (g/t)5 |
| CH-89-7 | 38.0 | 138.0 | 100.0 | 0.27 | 0.37 | 0.51 | 0.76 |
| Includes | 82.0 | 98.0 | 16.0 | 0.71 | 1.32 | 1.60 | 2.37 |
| CH-90-27 | 32.0 | 226.0 | 194.0 | 0.21 | 0.21 | 0.35 | 0.52 |
| Includes | 156.0 | 226.0 | 70.0 | 0.31 | 0.34 | 0.54 | 0.80 |
| CH-90-30 | 98.0 | 256.0 | 158.0 | 0.22 | 0.10 | 0.29 | 0.43 |
| Includes | 182.0 | 256.0 | 74.0 | 0.26 | 0.13 | 0.35 | 0.52 |
| CH-90-33 | 54.0 | 304.5 Ɨ | 250.50 | 0.21 | 0.12 | 0.29 | 0.44 |
| Includes | 64.0 | 152.0 | 88.0 | 0.36 | 0.21 | 0.51 | 0.75 |
| CH-90-37 | 54.3 | 262.1 Ɨ | 207.8 | 0.22 | 0.12 | 0.30 | 0.45 |
| Includes | 110.0 | 154.0 | 44.0 | 0.35 | 0.18 | 0.47 | 0.70 |
| CH-91-40 | 50.0 | 130.0 | 80.0 | 0.30 | 0.29 | 0.49 | 0.73 |
| Includes | 50.0 | 114.0 | 64.0 | 0.35 | 0.33 | 0.57 | 0.85 |
| Includes | 64.0 | 104.0 | 40.0 | 0.45 | 0.41 | 0.73 | 1.08 |
| CH-91-42 | 91.4 | 320.6 Ɨ | 229.2 | 0.10 | 0.61 | 0.51 | 0.76 |
| Includes | 94.0 | 144.0 | 50.0 | 0.09 | 2.10 | 1.50 | 2.23 |
| Includes | 94.0 | 122.0 | 28.0 | 0.07 | 3.61 | 2.49 | 3.70 |
| And | 200.0 | 242.0 | 42.0 | 0.13 | 0.55 | 0.50 | 0.74 |
| CH-19-003 | 91.5 | 411.0 Ɨ | 319.5 | 0.16 | 0.14 | 0.25 | 0.37 |
| Includes | 341.0 | 401.0 | 60.0 | 0.26 | 0.24 | 0.42 | 0.63 |
About Kliyul
Owned 100% by Pacific Ridge, Kliyul is over 90 km2 in size and is located in the prolific Quesnel terrane close to existing infrastructure. Kliyul hosts several compelling exploration targets within a six-kilometre long mineralized trend, including KMZ (see Figure 3), which has been the Company’s focus since 2020. Pacific Ridge has completed more than 17,500 m of diamond drilling at KMZ and has expanded the known mineralized extents to 760 m east-west, up to 600 m north-south, and up to 650 m vertical. KMZ remains open in every direction and at depth. Drill highlights include drill hole KLI-21-037 which returned 316.7 m of 0.79% CuEq1 or 1.17 g/t AuEq2 (0.30% copper, 0.70 g/t gold, and 2.17 g/t silver) within 566.7 m of 0.51% CuEq1 or 0.75 g/t AuEq2(0.20% copper, 0.44 g/t gold, and 1.31 g/t silver) (see news release dated January 31, 2022).
To view all Pacific Ridge’s drill results from Kliyul, click on the link below.
https://pacificridgeexploration.com/site/assets/files/5969/2024-01-12_kliyul_assay_highlights_summary.pdf
Figure 3
Kliyul Targets
About Redton
Owned 100% by Pacific Ridge, Redton is over 34 km2 in size and adjoins the eastern boundary of NorthWest Copper Corp.’s Kwanika copper-gold deposit. Several target areas exist at Redton: Catchment Basin, East Swan, NEX, Redton East, and Redton North. In 2022, after completing a targeted soil survey grid, the Company identified a surface geochemical target, the NEX zone, which is of similar size and orientation as the Kwanika Central Zone footprint. NEX zone is located 4.5 km east of Kwanika following an interpreted arc-transverse lineament and an AeroTEM geophysical feature of interest (see Figure 4).
Figure 4
Redton Targets
About Pacific Ridge
Our goal is to become B.C.’s leading copper-gold exploration company. Pacific Ridge’s flagship asset is its 100% owned Kliyul copper-gold project, located in the Quesnel terrane close to existing infrastructure. In addition to Kliyul, the Company’s project portfolio includes the Chuchi copper-gold project, the RDP copper-gold project, the Onjo copper-gold project, and the Redton copper-gold project, all located in British Columbia. The Company would like to acknowledge that its B.C. projects are located in the traditional, ancestral and unceded territories of the Gitxsan Nation, McLeod Lake Indian Band, Nak’azdli Whut’en, Takla Nation, and Tsay Keh Dene Nation.
On behalf of the Board of Directors,
“Blaine Monaghan”
Blaine Monaghan
President & CEO
Pacific Ridge Exploration Ltd.
Investor Relations: Tel: (604) 687-4951
Email: ir@pacificridgeexploration.com
Website: www.pacificridgeexploration.com
LinkedIn: https://www.linkedin.com/company/pacific-ridge-exploration-ltd-pex-/
Twitter: https://twitter.com/PacRidge_PEX
