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Based in Vancouver, British Columbia, Pacific Ridge Exploration Ltd. (TSXV: PEX) (OTCQB: PEXZF) (FSE: PQWN) is a leading copper-gold exploration company with a diverse project portfolio focused on the Quesnel terrane in northcentral British Columbia. The company's flagship asset is the Kliyul copper-gold project, which spans over 90 km2 and hosts compelling exploration targets such as the Kliyul Main Zone (KMZ). With an emphasis on expanding known mineralized extents and identifying higher-grade mineralization, Pacific Ridge has conducted extensive diamond drilling programs and geophysical surveys across its projects, including Chuchi, RDP, Onjo, and Redton. The company's commitment to sustainable exploration practices and community engagement underscores its dedication to becoming a key player in British Columbia's mineral exploration sector.
Pacific Ridge Exploration (TSXV: PEX) (OTCQB: PEXZF) has commenced its inaugural diamond drill program at the Chuchi copper-gold project in B.C. The company plans to drill approximately 3,000 m in five or six drill holes over an 800 m strike length at the BP Zone. Chuchi is located 35 km northwest of Centerra Gold's Mount Milligan mine and is road accessible. Key highlights include:
- Previous drill highlights: 194.0 m at 0.21% Cu and 0.21 g/t Au (CH-90-27), and 229.2 m at 0.10% Cu and 0.61 g/t Au (CH-91-42)
- Pacific Ridge believes Chuchi has significant untested potential for porphyry copper-gold mineralization
- The company has completed geophysical surveys and 3D modelling to guide the current drill program
- Drilling aims to extend known mineralization along strike and at depth
Pacific Ridge Exploration (TSXV: PEX) (OTCQB: PEXZF) has initiated a helicopter-borne ZTEM geophysical survey at its Kliyul copper-gold project in British Columbia. The survey will cover 599 line-kilometers, encompassing 85% of Kliyul, including key target areas. Pacific Ridge aims to expand the Kliyul Main Zone (KMZ) and identify new porphyry targets.
The company is also planning an IP survey at its Redton project and a 2,500-3,500 m diamond drill program at Chuchi. The 2023 drill program at Kliyul significantly expanded the known mineralization at KMZ to 760 m E-W x 600 m N-S x 650 m depth. The last drill hole of 2023 intersected potential higher-grade porphyry mineralization at depth, providing new vectors for targeting.
The ZTEM survey results are expected to confirm the company's understanding of the KMZ porphyry system and potentially increase its grade profile and mineralized extents.
Pacific Ridge Exploration has extended the closing date of its $2,000,000 non-brokered private placement by 30 days.
The first tranche raised $1,683,380 through the issuance of 16,250,000 flow-through units at $0.08 per unit and 5,476,858 non-flow-through units at $0.07 per unit. The final tranche is expected to close within 30 days.
Proceeds will be used for general working capital and a diamond drill program at the Chuchi copper-gold project in British Columbia, where 2,500-3,500 meters of drilling are planned for this year.
Each unit includes a common share and a warrant exercisable at $0.12 for 24 months. The securities will be under a hold period of four months plus one day post-issuance.
Proceeds from flow-through shares will be used for Canadian exploration expenses and flow-through mining expenditures, renounced to subscribers by December 31, 2024.
Pacific Ridge Exploration (TSXV: PEX, OTCQB: PEXZF, FSE: PQWN) announced the results of its Annual General and Special Meeting (AGSM) held on June 27, 2024. Key highlights included the election of directors Gerald Carlson, Blaine Monaghan, Bruce Youngman, and Gary Baschuk. Shareholders re-appointed PricewaterhouseCoopers LLP as the company's auditor and approved both a rolling incentive stock option plan and amended articles, pending TSX Venture Exchange approval.
Additionally, Salvador Miranda retired as CFO, with Harry Nijjar named as his successor. Nijjar brings extensive financial expertise as Managing Director of Malaspina Consultants Inc. Post-AGSM appointments included Gerald Carlson as Chairman, Blaine Monaghan as President & CEO, Danette Schwab as VP of Exploration, Harry Nijjar as CFO, and Arie Page as Corporate Secretary.
Pacific Ridge has announced its 2024 exploration plans, focusing on the Chuchi, Kliyul, and Redton copper-gold projects in British Columbia. The company will conduct its first-ever 2,400 m diamond drill program at the BP Zone of Chuchi, aiming to uncover deeper porphyry copper-gold mineralization. At Kliyul, ZTEM and MT geophysical surveys are planned, expected to start in mid-July to locate higher-grade mineralization. A recent drill hole (KLI-23-069) at Kliyul returned significant results, suggesting potential for a higher-grade porphyry center. An IP survey at Redton will start in July to refine future drill targets near NorthWest Copper's Kwanika deposit. CEO Blaine Monaghan expressed optimism about the potential for deeper and higher-grade discoveries.
Pacific Ridge Exploration has identified a six-kilometer-long copper-gold porphyry trend at the Chuchi copper-gold project in British Columbia. The project shows promising potential with historical resource estimates and significant untested zones for mineralization. The company aims to drill for discoveries and create value for shareholders.
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