Greenridge Exploration Announces Update on its 2024 Exploration Program at the Weyman Copper Project
Greenridge Exploration has announced initial results from its 2024 Exploration Program at the Weyman Copper Project. The program included a total metal ion soil survey covering 631 hectares with 1,269 samples taken at 50-meter intervals, and a comprehensive 1:5,000-scale mapping program over the entire 2,803.9-hectare property. The southwestern alteration zone was identified as the most prospective area, where detailed mapping covered 150 hectares. Previous exploration included reconnaissance soil sampling (2014), helicopter-borne magnetic survey (2020), and total metal ion soil surveys (2021). The 2020 survey revealed an extensive thrust fault system and potential indicators of porphyry-type copper-molybdenum-gold deposits in the southwestern area.
Greenridge Exploration ha annunciato i risultati iniziali del suo Programma di Esplorazione 2024 presso il Weyman Copper Project. Il programma ha incluso un'indagine del suolo per ioni metallici totali che ha coperto 631 ettari, con 1.269 campioni prelevati a intervalli di 50 metri, e un programma di mappatura dettagliata in scala 1:5.000 su tutta la proprietà di 2.803,9 ettari. La zona di alterazione sud-occidentale è stata identificata come l'area più prospettica, dove la mappatura dettagliata ha coperto 150 ettari. Le esplorazioni precedenti comprendevano campionamenti del suolo di ricognizione (2014), indagini magnetiche tramite elicottero (2020) e indagini del suolo per ioni metallici totali (2021). L'indagine del 2020 ha rivelato un ampio sistema di faglie e potenziali indicatori di depositi di rame-molibdeno-oro di tipo porfido nell'area sud-occidentale.
Greenridge Exploration ha anunciado los resultados iniciales de su Programa de Exploración 2024 en el Weyman Copper Project. El programa incluyó una encuesta de suelos de iones metálicos totales que cubrió 631 hectáreas, con 1.269 muestras tomadas a intervalos de 50 metros, y un programa de mapeo a escala 1:5.000 para toda la propiedad de 2.803,9 hectáreas. La zona de alteración suroeste fue identificada como la zona más prometedora, donde el mapeo detallado cubrió 150 hectáreas. Las exploraciones anteriores incluyeron muestreo de suelos de reconocimiento (2014), una encuesta magnética por helicoptero (2020) y encuestas de suelos de iones metálicos totales (2021). La encuesta de 2020 reveló un extenso sistema de fallas de empuje y posibles indicadores de depósitos de cobre-molibdeno-oro de tipo porfídico en la zona suroeste.
Greenridge Exploration는 Weyman Copper Project의 2024 탐사 프로그램 초기 결과를 발표했습니다. 이 프로그램은 631헥타르를 대상으로 한 총 금속 이온 토양 조사와 50미터 간격으로 1,269개의 샘플을 수집하였으며, 2,803.9헥타르의 전체 부지를 대상으로 한 1:5,000 규모의 종합적인 지도 작성 프로그램을 포함했습니다. 남서쪽 변형 지역이 가장 유망한 지역으로 확인되었으며, 여기서 상세한 지도가 150헥타르를 커버했습니다. 이전의 탐사에는 정찰 토양 샘플링(2014), 헬리콥터를 이용한 자기 조사(2020), 및 총 금속 이온 토양 조사가 포함되었습니다(2021). 2020년 조사는 광범위한 밀착 단층 시스템과 남서부 지역의 포르피리형 구리-몰리브데넘-금 매장지의 잠재적 지표를 드러냈습니다.
Greenridge Exploration a annoncé les résultats initiaux de son Programme d'exploration 2024 au Weyman Copper Project. Le programme comprenait une enquête sur le sol pour les ions métalliques totaux couvrant 631 hectares, avec 1.269 échantillons prélevés à des intervalles de 50 mètres, ainsi qu'un programme de cartographie détaillé à l'échelle 1:5.000 sur l'ensemble des 2.803,9 hectares de la propriété. La zone d'altération sud-ouest a été identifiée comme la zone la plus prometteuse, avec une cartographie détaillée couvrant 150 hectares. Les explorations antérieures comprenaient un échantillonnage du sol de reconnaissance (2014), une enquête magnétique par hélicoptère (2020) et des enquêtes de sol pour les ions métalliques totaux (2021). L'enquête de 2020 a révélé un vaste système de failles de chevauchement et des indicateurs potentiels de gisements de cuivre-molybdène-or de type porphyrique dans la zone sud-ouest.
Greenridge Exploration hat die ersten Ergebnisse seines Explorationsprogramms 2024 im Weyman Copper Project bekannt gegeben. Das Programm umfasste eine Bodenuntersuchung auf Gesamtionen metallischer Stoffe, die 631 Hektar abdeckte, mit 1.269 Entnahmen, die in Abständen von 50 Metern entnommen wurden, sowie ein umfassendes Kartierungsprogramm im Maßstab 1:5.000 für das gesamte Grundstück von 2.803,9 Hektar. Die südwestliche Verwerfungszone wurde als die vielversprechendste Fläche identifiziert, in der eine detaillierte Kartierung 150 Hektar abdeckte. Frühere Erkundungen umfassten eine Sonde des Bodens zur Erkundung (2014), eine magnetische Survey mit einem Hubschrauber (2020) und eine Gesamtio-Analytik für Böden (2021). Die Umfrage von 2020 deckte ein umfangreiches Schubfalter-System und potenzielle Indikatoren für porphyryartige Kupfer-Molybdän-Gold-Lagerstätten im südwestlichen Bereich auf.
- Comprehensive exploration program covering large property area (2,803.9 hectares)
- Identification of southwestern alteration zone as most prospective area
- Extensive data collection with 1,269 soil samples taken
- Results from the 2024 exploration program still pending
- Half of the property area remained largely unexplored until 2023
VANCOUVER, B.C., Nov. 22, 2024 (GLOBE NEWSWIRE) -- Greenridge Exploration Inc. (“Greenridge” or the “Company”) (CSE: GXP | OTC: GXPLF | FRA: HW3), is pleased to announce initial results from its 2024 Exploration Program (the "Program") at the Company’s Weyman Copper Project (the “Property” or the “Project”).
Recent exploration on the Property consisted of:
- 2014 - Reconnaissance soil sampling in the western part of the Project area;
- 2020 - Helicopter-borne magnetic survey; and
- 2021 - Total metal ion soil survey conducted on two grids, one on the old Pilot showings area in the northeastern part of the Property area, and the other over an alteration zone and the 2014-era Eastern soil target.
During early summer of 2024, Greenridge conducted a total metal ion soil survey over an extensive grid that adjoined the 2021-era western soil grid to the north and west in order to cover almost all of the Property west of the Weyman Thrust system. The 2024 soil grid comprised twenty-four (24) 2,500-m (8,202-ft) long lines north of the western 2021 grid and five (5) 1,400-m (4,593-ft) long lines east of the western 2021 grid comprising a total of 67.0 km (40.9 mi) of line, covering 631 hectares (1,558.6 acres) in aggregate. A total of 1,269 samples were taken at 50-m (164-ft) intervals along each line where soils and drainage permitted.
Concurrent with the soil survey, a 1:5,000-scale reconnaissance mapping program was conducted over the whole Property (2,803.9 ha or 6,925.6 acres). The southwestern alteration zone was identified as the most prospective part of the Property. Focus moved to that alteration zone where detailed 1:5,000-scale mapping was conducted subsequently. Mapping of the southwestern alteration zone covered 150 hectares (370.5 acres) that was included in the previously mentioned reconnaissance mapping area.
Presently, all geological and soil-survey maps from the current (2024) exploration program have been completed and an assessment report is in the final proof-reading stage in preparation for filing with the British Columbia government.
Russell Starr, Chief Executive Officer of the Company, commented, “The ion survey and extensive mapping will provide valuable insights for future work programs at the Project. The Company anticipates the results of the Program will be available in the coming weeks.”
Results of the 2020 aeromagnetic survey indicated that there was an extensive thrust fault system in the western part of the Property through which rocks in the western part of the Property were thrust over rocks in the Property’s eastern part (the Weyman Thrust system). Magnetic details indicated that plumes of hydrothermal fluid that may be related to a porphyry-type copper-molybdenum-gold deposit were active in the southwestern part of the Property area. That indication was confirmed during a Property examination by John Ostler, M.Sc., P.Geo. in July, 2020. The 2021 western soil grid was positioned around the 2014 Eastern Soil Target in the southwestern part of the Property area to test that area with more detailed soil coverage. The existence of an extensive alteration zone was confirmed. At the time of Greenridge’s acquisition of the Property in 2023, almost half of the Property area remained with almost no ground exploration to date.
Marketing Agreement
The Company also announces that it entered into an agreement (the “Agreement”) with RMK Marketing Inc. (“RMK”) on November 21, 2024, (address: 41 Lana Terrace, Mississauga, Ont., Canada, L5A 3B2; e-mail: Roberto@rmkmarketing.ca) to provide marketing services for a term of three months, commencing November 26, 2024 (the “Term”).
RMK is an independent company which will, as appropriate, co-ordinate marketing actions, maintain and optimize AdWords campaigns, adapt AdWords bidding strategies, optimize AdWords ads, provide project management and consulting for an online marketing campaign and create and optimize landing pages (the “Services”). The promotional activity will occur by Google.
Under the terms of the Agreement, the Company will compensate RMK
Qualified Person
John Ostler, M. Sc., P. Geo, (EGBC Licence # 18415) is a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Ostler has reviewed and approved the technical content in this release.
References
1 Source: 1979 Assessment report (number 81075) by Pan Ocean Oil Ltd.
About Greenridge Exploration Inc.
Greenridge Exploration Inc. (CSE: GXP | OTC: GXPLF | FRA: HW3) is a mineral exploration company dedicated to creating shareholder value through the acquisition, exploration, and development of critical mineral projects in North America. The Carpenter Lake Uranium Project is located in the Athabasca Basin consisting of 7 mineral claims covering 13,387 hectares across the Cable Bay Shear Zone and the Company is advancing the project to test multiple high priority targets. The Company’s Nut Lake Uranium Project located in the Thelon Basin includes historical drilling which intersected up to 9ft of
On Behalf of the Board of Directors
Russell Starr
Chief Executive Officer, Director
Telephone: +1 (778) 897-3388
Email: info@greenridge-exploration.com
Disclaimer for Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the project acquisition bringing a low-risk opportunity, the Company, building a strong battery metals portfolio with low-risk opportunities that positively impact the Company and its shareholders and the Company providing an initial work plan are “forward-looking statements”. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Project and its mineralization potential; the Company’s objectives, goals, or future plans with respect to the Project; further exploration work on the Project in the future and the results of the Program; statements with respect to the provision of the Services by RMK under the Agreement. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether because of new information, future events or otherwise, unless so required by applicable securities laws.
The Canadian Securities Exchange (CSE) does not accept responsibility for the adequacy or accuracy of this release.
FAQ
What is the size of Greenridge Exploration's (GXPLF) 2024 soil survey at Weyman Copper Project?
What previous exploration work was done at Weyman Copper Project before 2024?
What did the 2020 aeromagnetic survey reveal at the Weyman Copper Project?
