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Pacific Ridge Completes Inaugural Drill Program at the Chuchi Copper-Gold Project in B.C.; Intersects Copper Mineralization in Every Drill Hole

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Pacific Ridge Exploration (TSXV: PEX) (OTCQB: PEXZF) has completed its inaugural drill program at the Chuchi copper-gold project in B.C., intersecting copper mineralization in every drill hole. The program covered 2,716 m in five diamond drill holes over a 750 m strike length across the BP Zone (BPZ). Key points:

1. Every drill hole intersected alkalic porphyry copper mineralization.
2. The BPZ shows potential for expansion along strike and at depth.
3. Chuchi is located 35 km northwest of Centerra Gold's Mount Milligan mine.
4. The BPZ is one of several porphyry targets within a six-kilometre north-northwest trend at Chuchi.
5. The drill program was ground-supported and located a two-hour drive from Fort Saint James.

The company believes the BPZ has significant untested potential for porphyry copper-gold mineralization, as many historical drill holes were shallow and ended in mineralization. Assay results are pending and will be released once received and compiled.

Pacific Ridge Exploration (TSXV: PEX) (OTCQB: PEXZF) ha completato il suo programma di perforazione inaugurale presso il progetto di rame-oro Chuchi in B.C., intercettando mineralizzazione di rame in ogni foro di perforazione. Il programma ha coperto 2.716 m in cinque fori di perforazione a diamante su una lunghezza di strike di 750 m attraverso la BP Zone (BPZ). Punti chiave:

1. Ogni foro di perforazione ha intercettato mineralizzazione di rame porfirico alcalino.
2. La BPZ mostra potenziale di espansione lungo lo strike e in profondità.
3. Chuchi si trova a 35 km a nord-ovest della miniera di Mount Milligan di Centerra Gold.
4. La BPZ è uno dei diversi obiettivi porfirici all'interno di un trend nord-nord-ovest di sei chilometri a Chuchi.
5. Il programma di perforazione è supportato a terra ed è situato a due ore di auto da Fort Saint James.

L'azienda ritiene che la BPZ abbia un potenziale significativo non testato per la mineralizzazione di rame-oro porfirico, poiché molti fori di perforazione storici erano superficiali e sono terminati in mineralizzazione. I risultati delle analisi sono in attesa e saranno pubblicati una volta ricevuti e compilati.

Pacific Ridge Exploration (TSXV: PEX) (OTCQB: PEXZF) ha completado su programa de perforación inaugural en el proyecto de cobre-oro Chuchi en B.C., intersectando mineralización de cobre en cada agujero de perforación. El programa cubrió 2,716 m en cinco agujeros de perforación de diamante sobre una longitud de strike de 750 m a lo largo de la BP Zone (BPZ). Puntos clave:

1. Cada agujero de perforación intersectó mineralización de cobre porfirio alcalino.
2. La BPZ muestra potencial para expansión a lo largo del strike y en profundidad.
3. Chuchi se encuentra a 35 km al noroeste de la mina Mount Milligan de Centerra Gold.
4. La BPZ es uno de varios objetivos porfirios dentro de una tendencia de seis kilómetros al noroeste en Chuchi.
5. El programa de perforación fue apoyado en el suelo y está ubicado a dos horas en coche de Fort Saint James.

La empresa cree que la BPZ tiene un potencial significativo no probado para la mineralización de cobre-oro porfirio, ya que muchos agujeros de perforación históricos fueron superficiales y terminaron en mineralización. Los resultados de los análisis están pendientes y se publicarán una vez recibidos y compilados.

퍼시픽 리지 탐사(Pacific Ridge Exploration) (TSXV: PEX) (OTCQB: PEXZF)가 초기 시추 프로그램을 완료했습니다 브리티시 컬럼비아의 추치 구리-금 프로젝트에서 모든 시추 구멍에서 구리 광물화가 관찰되었습니다. 이 프로그램은 750m의 스트라이크 길이에 걸쳐 5개의 다이아몬드 시추 홀에서 2,716m를 커버했습니다. 주요 사항:

1. 모든 시추 홀은 알칼라인 포르프리 구리 광물화와 교차했습니다.
2. BPZ는 스트라이크 방향과 깊이에서 확장을 위한 가능성을 보여줍니다.
3. 추치는 센테라 골드(Centerra Gold)의 마운트 밀리건(Mount Milligan) 광산에서 북서쪽으로 35킬로미터 떨어져 있습니다.
4. BPZ는 추치의 6킬로미터 북북서 방향에 있는 여러 포르프리 타겟 중 하나입니다.
5. 시추 프로그램은 지상 지원을 받았으며 포트 세인트 제임스(Fort Saint James)에서 차로 2시간 거리에 있습니다.

회사는 BPZ가 포르프리 구리-금 광물화에 대한 상당한 미검사 잠재력을 가지고 있다고 믿고 있습니다. 많은 역사적인 시추 홀은 얕고 광물화로 종료되었습니다. 분석 결과는 대기 중이며 수신 및 정리된 후 발표됩니다.

Pacific Ridge Exploration (TSXV: PEX) (OTCQB: PEXZF) a complété son premier programme de forage au projet de cuivre-or Chuchi en Colombie-Britannique, interceptant une minéralisation de cuivre dans chaque trou de forage. Le programme a couvert 2 716 m à travers cinq trous de forage diamant sur une longueur de train de 750 m à travers la zone BP (BPZ). Points clés :

1. Chaque trou de forage a intersecté une minéralisation de cuivre porphyrique alcaline.
2. La BPZ montre un potentiel d'expansion le long du filon et en profondeur.
3. Chuchi est situé à 35 km au nord-ouest de la mine Mount Milligan de Centerra Gold.
4. La BPZ est l'un des plusieurs cibles porphyrées dans une tendance nord-nord-ouest de six kilomètres à Chuchi.
5. Le programme de forage a été soutenu par le sol et se trouve à deux heures de route de Fort Saint James.

L'entreprise pense que la BPZ a un potentiel significatif non testé pour la minéralisation porphyrique en cuivre-or, car de nombreux trous de forage historiques étaient peu profonds et se sont terminés dans la minéralisation. Les résultats d'analyse sont en attente et seront publiés dès qu'ils seront reçus et compilés.

Pacific Ridge Exploration (TSXV: PEX) (OTCQB: PEXZF) hat sein erstes Bohrprogramm abgeschlossen im Chuchi Kupfer-Gold-Projekt in B.C., dabei wurde in jedem Bohrloch Kupfermineralisierung nachgewiesen. Das Programm umfasste 2.716 m in fünf Diamantbohrlöchern über eine Strike-Länge von 750 m entlang der BP Zone (BPZ). Wichtige Punkte:

1. Jedes Bohrloch traf auf alkalische Porphyr-Kupfermineralisierung.
2. Die BPZ zeigt Potenzial für eine Erweiterung entlang des Streichens und in der Tiefe.
3. Chuchi liegt 35 km nordwestlich der Mine Mount Milligan von Centerra Gold.
4. Die BPZ ist eines von mehreren Porphyr-Zielen innerhalb eines nord-nordwestlichen Trends von sechs Kilometern in Chuchi.
5. Das Bohrprogramm wurde bodengestützt und befindet sich zwei Autostunden von Fort Saint James entfernt.

Das Unternehmen glaubt, dass die BPZ erhebliches ungetestetes Potenzial für porphyrische Kupfer-Gold-Mineralisierung hat, da viele historische Bohrlöcher flach waren und in Mineralisierung endeten. Die Analyseergebnisse stehen aus und werden veröffentlicht, sobald sie eingegangen und zusammengestellt sind.

Positive
  • Copper mineralization intersected in all five drill holes of the inaugural program
  • Potential for expansion of alkalic porphyry copper mineralization along strike and at depth
  • BPZ is part of a larger six-kilometre north-northwest trend of porphyry targets at Chuchi
  • Project is road accessible and close to existing mining infrastructure
Negative
  • Assay results are still pending, so the economic viability of the mineralization is yet to be determined
  • The project is still in early exploration stages with no resource estimate or economic studies completed

Vancouver, British Columbia--(Newsfile Corp. - September 26, 2024) - Pacific Ridge Exploration Ltd. (TSXV: PEX) (OTCQB: PEXZF) (FSE: PQWN) ("Pacific Ridge" or the "Company") is pleased to announce that the Company has completed its inaugural drill program at the Chuchi copper-gold project ("Chuchi" or the "Project"), and that copper mineralization was intersected in every drill hole. Chuchi is road accessible and is located 35 km to the northwest of Centerra Gold Inc.'s ("Centerra") Mount Milligan mine in B.C. (see Figure 1).

Highlights:

  • Pacific Ridge completed 2,716 m in five diamond drill holes over a 750 m strike length across the BP Zone ("BPZ") (see Figures 2 and 3).
  • Every drill hole intersected alkalic porphyry copper mineralization consisting of chalcopyrite and pyrite hosted in breccias, veins, and as disseminated mineral replacements. The results will be released once the assays are received and compiled.
  • The Company believes that the BPZ has excellent potential for continued expansion of alkalic porphyry copper mineralization along strike and at depth.
  • BPZ is just one of several porphyry targets that occur within a six-kilometre north-northwest trend at Chuchi (see Pacific Ridge news release dated April 30th, 2024).
  • A two-hour drive from Fort Saint James, the drill program was completely ground-supported.

Quote

"The last major drill program at the BP Zone was more than three decades ago," said Blaine Monaghan, President and CEO of Pacific Ridge. The Company believes that the BP Zone has significant, untested potential for porphyry copper-gold mineralization along strike and at depth as many of the historical drill holes were shallow and ended in mineralization. We look forward to reporting the assay results from our very first drill program at Chuchi."

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Figure 1

Location of Chuchi and Pacific Ridge's Other Copper-Gold Porphyry Projects

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Figure 2

Location of the BPZ and Other Targets at Chuchi

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2024 Drill Hole Program Design

The 2024 drill program was designed to test the interpretation that BPZ mineralization forms a tabular shaped body with a high degree of northeast-trending structural control, has a steep westward dip (eastward tilt), and is deep rooted. It appears to be related to a 550 m (E-W) x 500 m (N-S) x 600 m (depth) stock complex. This interpretation is based on combined 3D geophysical inversion models (ZTEM and IP), grade shell model of historical drilling, and historical work. Further, drilling tested for evidence that BPZ is structurally segmented with greater preservation potential in downthrown blocks towards the northeast.

Over the 750 m strike length of BPZ tested in 2024, sulfide mineralization appears to follow a northeast trending corridor centered on the North Central ("NC") fault zone (see Figures 3 and 4). Brecciated and altered lithological contact zones around the monzodiorite porphyry complex are also identified as areas of enhanced mineralization.

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Figure 3

2024 BPZ Drill Holes in Plan View with 3D ZTEM Model in Background

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Figure 4

2024 Chuchi Drilling with 3D ZTEM Model in Background (450 m wide slice) and TMI Magnetics on Surface

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CH-24-070 (azimuth 090°, inclination -70°, length 603 m) was collared on a historical drill trail near the centre of the BPZ, within the mapped calc-potassic alteration domain, and near drill hole CH-91-40 which returned 40 m at 0.45% Cu and 0.41 g/t Au from 64 m depth (see Table 1).

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Figure 5

Chalcopyrite-Pyrite Mineralization in CH-24-070 at 406.0-406.5 m (See A in Figure 4)

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CH-24-071 (azimuth 088°, inclination -80°, length 577 m) was collared on a historical drill trail at the southern end of the BPZ, within the mapped potassic alteration domain, and in the area of historical drill hole CH-89-07 which returned 16 m at 0.71% Cu and 1.32 g/t Au within 100 m of 0.27% Cu and 0.37 g/t Au from 38 m depth (see Table 1).

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Figure 6

Chalcopyrite-Pyrite Mineralization in CH-24-071 at 85.0 m (See B in Figure 4)

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CH-24-072 (azimuth 090°, inclination -75°, length 600 m) was collared on a historical drill trail at the southwestern side of the BP Zone, within the mapped calc-potassic alteration domain, and in the area of historical drill hole CH-90-27 which returned 70 m at 0.31% Cu and 0.34 g/t Au within 194 m of 0.21% Cu and 0.21 g/t Au from 32 m depth (see Table 1).

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Figure 7

Chalcopyrite-Pyrite Mineralization in CH-24-072 at 388-389 m (See C in Figure 4)

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CH-24-073 (azimuth 036°, inclination -55°, length 588 m) was collared on a historical drill trail near the centre of the BPZ, within the mapped calc-potassic alteration domain. The in-field drill hole design was based on observations from the first three drill holes and on the identification of a previously unused drill trail that was optimally located to test the predicted high-grade core of the BPZ from numeric modelling of historical drilling results.

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Figure 8

Chalcopyrite-Pyrite Mineralization in CH-24-073 at 505.0 m (See D in Figure 4)

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CH-24-074 (azimuth 300°, inclination -70°, length 348 m) was collared on a historical drill trail on the northeastern side of the BPZ, within the mapped calc-potassic alteration domain, and near historical drill hole CH-90-30 which returned 74 m at 0.26% Cu and 0.13 g/t Au from 182 m depth (see Table 1). Drilling tested the predicted core zone of the historical drilling results grade shell model.

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Figure 9

Chalcopyrite-Pyrite Mineralization in CH-24-074 at 305.0 m (See E in Figure 4)

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Table 1

Historical Drill Highlights1

Hole No.From (m)To (m)Width (m)Cu (%)Au (g/t)CuEq (%)2AuEq (g/t)3
  CH-89-0738.0138.0100.00.270.370.510.76
  Includes82.098.016.00.711.321.602.37
  CH-90-2732.0226.0194.00.210.210.350.52
  Includes156.0226.070.00.310.340.540.80
  CH-90-3098.0256.0158.00.220.100.290.43
  Includes182.0256.074.00.260.130.350.52
  CH-90-3354.0304.5 Ɨ250.500.210.120.290.44
  Includes64.0152.088.00.360.210.510.75
  CH-90-3754.3262.1 Ɨ207.80.220.120.300.45
  Includes110.0154.044.00.350.180.470.70
  CH-91-4050.0130.080.00.300.290.490.73
  Includes50.0114.064.00.350.330.570.85
  Includes64.0104.040.00.450.410.731.08
  CH-91-4291.4320.6 Ɨ229.20.100.610.510.76
  Includes94.0144.050.00.092.101.502.23
  Includes94.0122.028.00.073.612.493.70
  And200.0242.042.00.130.550.500.74
  CH-19-00391.5 411.0 Ɨ319.50.160.140.250.37
  Includes341.0401.0 60.00.260.240.420.63

 

1Sources include: Chuchi project historical drilling database; also reported in BC Geological Survey (Branch) Assessment Reports 20018 (CH-89-7), 21113 (CH-90-27, CH-90-30, CH-90-33, CH-90-37), unpublished Placer Dome Inc. database (CH-91-40, CH-91-42), 39061 (CH-19-003). The Company has not independently validated all historic work, and the reader is cautioned about its accuracy.
2CuEq = ((Cu%) x $Cu x 22.0462) + (Au(g/t) x AuR/CuR x $Au x 0.032151) / ($Cu x 22.0462).
3AuEq = ((Au(g/t) x $Au x 0.032151) + ((Cu%) x CuR/AuR x $Cu x 22.0462) / ($Au x 0.032151).
Commodity prices: $Cu = US$3.25/lb and $Au = US$1,800/oz.
There has been no metallurgical testing on Chuchi mineralization. The Company estimates copper recoveries (CuR) of 84%, and gold recoveries (AuR) of 70% based on the average recoveries from Kemess Underground, Mount Milligan, and Red Chris.
Factors: 22.0462 = Cu% to lbs per tonne and 0.032151 = Au g/t to troy oz per tonne.

Ɨ End of hole

About Chuchi

Chuchi is over 160 km2 in size and comprises three mineral tenure blocks, Chuchi, under option from Centerra, and Chuchi South and Chuchi West, under option from American Copper Development Corporation (ACDX: TSXV) and a private individual. The Project is road accessible and is located 35 km northwest of Centerra's Mount Milligan mine. The Project has seen less than 15,360 metres (89 drill holes) of historical drilling to an average vertical depth of 140 m. Most of this drilling was completed in 1989-1991. Chuchi hosts several compelling exploration targets within a six-kilometre-long porphyry trend, including the BPZ. The Company believes that Chuchi has significant untested potential for porphyry copper-gold mineralization at depth as many of the historic drill holes were shallow and ended in mineralization. Further, the porphyry centre has yet to be identified.

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 also includes the Chuchi copper-gold project, the 100% owned RDP copper-gold project, the 100% owned Onjo copper-gold project, and the 100% owned Redton copper-gold project, all located in British Columbia. Pacific Ridge 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The technical information contained within this News Release has been reviewed and approved by Danette Schwab, P.Geo., Vice President Exploration, and a Qualified Person as defined by National Instrument 43-101 policy.

Forward-Looking Information: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, which address exploration drilling and other activities and events or developments that Pacific Ridge Exploration Ltd. ("Pacific Ridge") expects to occur, are forward-looking statements. Forward-looking statements in this news release include geological descriptions of the 2,716 m drill program at Chuchi. Although Pacific Ridge believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, that one of the options will be exercised, the ability of Pacific Ridge and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Pacific Ridge's proposed programs on reasonable terms, and the ability of third party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Pacific Ridge does not assume any obligation to update or revise its forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224636

FAQ

What were the results of Pacific Ridge's inaugural drill program at Chuchi?

Pacific Ridge completed 2,716 m in five diamond drill holes, intersecting copper mineralization in every hole. However, specific assay results are still pending and will be released once received and compiled.

Where is the Chuchi copper-gold project located?

The Chuchi project is located 35 km northwest of Centerra Gold's Mount Milligan mine in British Columbia, Canada. It is road accessible and a two-hour drive from Fort Saint James.

What is the significance of the BP Zone (BPZ) at Chuchi for PEXZF stock?

The BPZ is considered to have significant potential for porphyry copper-gold mineralization along strike and at depth. It is one of several porphyry targets within a six-kilometre trend at Chuchi, which could positively impact PEXZF stock if further exploration proves successful.

When will Pacific Ridge (PEXZF) release the assay results from the Chuchi drill program?

Pacific Ridge has not specified an exact date but stated that the assay results will be released once they are received and compiled. Investors in PEXZF should monitor for future announcements.

PACIFIC RIDGE EXPL LTD

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