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ZTEM Survey Underway at Kliyul Copper-Gold Project; Pacific Ridge to Advance Three Copper-Gold Porphyry Projects This Summer

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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 (TSXV: PEX) (OTCQB: PEXZF) ha avviato un’indagine geofisica ZTEM tramite elicottero presso il suo progetto di rame-oro Kliyul in British Columbia. L'indagine coprirà 599 chilometri lineari, coprendo l'85% di Kliyul, inclusi i principali target. Pacific Ridge mira a espandere la Zona Principale Kliyul (KMZ) e identificare nuovi obiettivi porfirici.

L'azienda sta inoltre pianificando un'indagine IP presso il suo progetto Redton e un programma di perforazione con diamante di 2.500-3.500 m a Chuchi. Il programma di perforazione 2023 a Kliyul ha notevolmente ampliato la mineralizzazione nota nella KMZ a 760 m E-W x 600 m N-S x 650 m di profondità. L'ultimo foro di perforazione del 2023 ha intercettato potenziali mineralizzazioni porfiriche di grado superiore in profondità, fornendo nuovi vettori per la definizione degli obiettivi.

Ci si aspetta che i risultati dell'indagine ZTEM confermino la comprensione da parte dell'azienda del sistema porfirico KMZ e aumentino potenzialmente il suo profilo di grado e le estensioni mineralizzate.

Pacific Ridge Exploration (TSXV: PEX) (OTCQB: PEXZF) ha iniciado una encuesta geofísica ZTEM mediante helicóptero en su proyecto de cobre-oro Kliyul en Columbia Británica. La encuesta cubrirá 599 kilómetros lineales, abarcando el 85% de Kliyul, incluidas áreas clave. Pacific Ridge busca expandir la Zona Principal Kliyul (KMZ) e identificar nuevos objetivos porfiríticos.

La empresa también planea una encuesta IP en su proyecto Redton y un programa de perforación con diamante de 2,500-3,500 m en Chuchi. El programa de perforación de 2023 en Kliyul amplió significativamente la mineralización conocida en KMZ a 760 m E-O x 600 m N-S x 650 m de profundidad. El último agujero de perforación de 2023 intersectó una mineralización porfirítica de mayor grado en profundidad, proporcionando nuevos vectores para la orientación de los objetivos.

Se espera que los resultados de la encuesta ZTEM confirmen la comprensión de la empresa sobre el sistema porfirítico KMZ y potencialmente aumenten su perfil de grado y extensiones mineralizadas.

퍼시픽 리지 탐사 (TSXV: PEX) (OTCQB: PEXZF)가 브리티시 컬럼비아의 클리율 구리-금 프로젝트에서 헬리콥터 기반 ZTEM 지구물리 조사에 착수했습니다. 이 조사는 599개 선 킬로미터를 커버하며, 클리율의 85%를 포함하여 주요 목표 지역을 포함합니다. 퍼시픽 리지는 클리율 메인 존(KMZ)을 확장하고 새로운 포르피리 목표를 식별하는 것을 목표로 하고 있습니다.

회사는 또한 레드톤 프로젝트에서 IP 조사를 계획하고 있으며, 추치에서 2,500-3,500m 다이아몬드 드릴 프로그램을 진행할 예정입니다. 2023년 클리율에서의 드릴 프로그램은 KMZ의 알려진 광물화 영역을 동서 760m x 남북 600m x 깊이 650m로 크게 확장했습니다. 2023년 마지막 드릴 홀은 깊은 곳에서 잠재적으로 고급 포르피리 광물화를 교차하여 새로운 목표를 설정하는 데 도움을 주었습니다.

ZTEM 조사 결과는 KMZ 포르피리 시스템에 대한 회사의 이해를 확증하고, 잠재적으로 그 등급 프로필과 광물화 범위를 증가시킬 것으로 기대됩니다.

Pacific Ridge Exploration (TSXV: PEX) (OTCQB: PEXZF) a lancé une enquête géophysique ZTEM par hélicoptère sur son projet de cuivre-or Kliyul en Colombie-Britannique. L'enquête couvrira 599 kilomètres linéaires, englobant 85 % de Kliyul, y compris des zones cibles clés. Pacific Ridge vise à élargir la Zone Principale Kliyul (KMZ) et à identifier de nouveaux objectifs porphyriques.

La société prévoit également une enquête IP sur son projet Redton et un programme de forage au diamant de 2 500 à 3 500 m à Chuchi. Le programme de forage de 2023 à Kliyul a considérablement étendu la minéralisation connue dans la KMZ à 760 m E-O x 600 m N-S x 650 m de profondeur. Le dernier trou de forage de 2023 a intersecté une minéralisation porphyrique potentiellement de plus haut grade en profondeur, fournissant de nouveaux vecteurs pour le ciblage.

Les résultats de l'enquête ZTEM devraient confirmer la compréhension de l'entreprise du système porphyrique KMZ et potentiellement augmenter son profil de grade et ses extensions minéralisées.

Pacific Ridge Exploration (TSXV: PEX) (OTCQB: PEXZF) hat eine helikoptergestützte ZTEM-Geophysik-Umfrage in seinem Kupfer-Gold-Projekt Kliyul in British Columbia eingeleitet. Die Umfrage wird 599 Linienkilometer abdecken und 85 % von Kliyul, einschließlich wichtiger Zielgebiete, umfassen. Pacific Ridge zielt darauf ab, die Kliyul Hauptzone (KMZ) zu erweitern und neue Porphyrziele zu identifizieren.

Das Unternehmen plant außerdem eine IP-Umfrage in seinem Redton-Projekt und ein Diamantbohrprogramm von 2.500-3.500 m in Chuchi. Das Bohrprogramm 2023 in Kliyul hat die bekannte Mineralisierung in der KMZ auf 760 m O-W x 600 m N-S x 650 m Tiefe erheblich erweitert. Das letzte Bohrloch 2023 schnitt potenziell hochwertigere Porphyr-Mineralisierung in der Tiefe und lieferte neue Vektoren zur Zielfindung.

Die Ergebnisse der ZTEM-Umfrage werden voraussichtlich das Verständnis des Unternehmens über das KMZ-Porphyr-System bestätigen und möglicherweise das Gradprofil sowie die mineralisierten Ausdehnungen erhöhen.

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Vancouver, British Columbia--(Newsfile Corp. - July 23, 2024) - Pacific Ridge Exploration Ltd. (TSXV: PEX) (OTCQB: PEXZF) (FSE: PQWN) ("Pacific Ridge" or the "Company") is pleased to announce that a helicopter-borne Z-Axis Tipper Electromagnetic ("ZTEM") geophysical survey is underway at its 100% owned flagship Kliyul copper-gold project ("Kliyul"). In addition to the ZTEM survey at Kliyul, the Company is also planning an induced polarization ("IP") geophysical survey at its 100% owned Redton copper-gold project ("Redton"), and a 2,500 - 3,500 m diamond drill program at the Chuchi copper-gold project ("Chuchi") this summer. Kliyul, Redton, and Chuchi are located in the prolific Quesnel terrane in northcentral British Columbia (see Figure 1).

"I'm very excited about the ZTEM survey underway at Kliyul," said Blaine Monaghan, President and CEO of Pacific Ridge. "Results of the 2023 drill program provided us with new vectors for targeting higher-grade copper-gold porphyry mineralization and possibly the source intrusion at the Kliyul Main Zone. I am confident that we will be able to increase the grade profile and the mineralized extents of the Kliyul Main Zone if the ZTEM survey results confirm our understanding."

ZTEM Survey at Kliyul

The ZTEM survey at Kliyul will comprise 599 line-kilometres, covering approximately 85% of Kliyul, and will include the BAP Ridge, Ginger, Ginger South, Kliyul Main Zone ("KMZ"), M-39, and Parish Hill target areas. The ZTEM survey will also cover a portion of the mineral claims acquired in 2023 (see Figure 2). Although Kliyul presently lacks deep view geophysics, a 3D remanent magnetic inversion model developed by Platform Geoscience in 2020 suggests there is an underlying stock and source pluton starting at a depth of approximately 600 m (See Figure 3). The 2024 ZTEM survey and inversion modelling will provide Pacific Ridge with 3D geophysical coverage to over one kilometre depth. This will enable the Company to develop a signature of porphyry copper-gold mineralization to:

  • Expand KMZ laterally and to depth;

  • Evaluate the KMZ area for a cluster or linear series of porphyry targets;

  • Refine other existing porphyry targets including Bap Ridge, Ginger, Ginger South, M-39, and Parish Hill; and

  • Identify new porphyry targets on recently acquired mineral claims.

 

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Figure 1

Location of Kliyul, Chuchi and Redton

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Figure 2

Kliyul 2024 ZTEM Survey Grid

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Figure 3

Schematic Interpretation of KMZ Porphyry System Based on 2023 Drilling Results and Geophysics Showing Zoned Mineralization-Alteration and Inferred Source Intrusion Starting at ~600 m Depth

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ZTEM Survey to Support 2023 Kliyul Drill Results

A total of 10,284 m of diamond drilling was completed in 2023, the largest ever drill program at Kliyul, and tested an area measuring 1,300 m E-W x 600 m N-S x 650 m depth. Drilling materially increased the known extents of porphyry mineralization at KMZ to 760 m E-W x 600 m N-S x 650 m depth.

Based on the 2023 drilling results, KMZ has been modelled as a symmetrically zoned porphyry system with a magnetite-chlorite ± biotite altered and chalcopyrite ± bornite mineralized porphyry core (~250 m diameter) that plunges steeply to the north-northeast from KMZ into KMZ North across a central healed fault or structural zone (see Figure 3). Mineralization (>0.4% CuEq1) is controlled by a steeply plunging stem/pipe feature, as well as by gently dipping stratigraphic and permeability controls in host rock.

The last drill hole of 2023 (KLI-23-069) intersected over 170 m of quartz diorite and feldspar porphyry intrusive phases starting at 483.0 m in KMZ North, possibly representing a central composite stock intrusion. Drilling 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 and was terminated in mineralization at 655 m (see news release dated January 9, 2024). This is the deepest mineralized interval encountered at Kliyul and the Company believes it provides a vector towards a higher-grade porphyry centre (see Figure 3 and 4). In addition, a 3D Magnetic Vector Inversion (MVI) footprint developed by Fathom Geophysics suggests that there are several untested targets, mainly in KMZ North and KMZ West (see Figure 4).

The 2024 ZTEM survey will allow for the creation of a 3D ZTEM and Magnetic Inversion model. If the model confirms the Company's interpretation of the KMZ porphyry system, a central causative stock ~600 m deep in KMZ North and KMZ is a suprajacent dyke and fracture array ± breccia complex, it will greatly increase the prospectivity of the untested areas in the MVI footprint and open up the KMZ porphyry system for significant expansion.

 

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Figure 4

MVI (Tilt Derivative) Footprint - Yellow Star (KLI-23-069) Indicates Potential Centre of System at 600 m Depth

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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, 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

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.

1CuEq = ((Cu%) x $Cu x 22.0462) + (Au(g/t) x AuR/CuR x $Au x 0.032151) + (Ag(g/t) x AgR/CuR x $Ag x 0.032151)) / ($Cu x 22.0462).

2AuEq = ((Au(g/t) x $Au x 0.032151) + ((Cu%) x CuR/AuR x $Cu x 22.0462) + (Ag(g/t) x AgR/CuR x $Ag x 0.032151)) / ($Au x 0.032151).

Commodity prices: $Cu = US$3.25/lb, $Au = US$1,800/oz., and Ag = US$20.00/oz.

There has been no metallurgical testing on Kliyul mineralization. The Company estimates copper recoveries (CuR) of 84%, gold recoveries (AuR) of 70%, and silver recoveries (AgR) of 65% based on average recoveries from Kemess Underground, Mount Milligan, Red Chris.)

Factors: 22.0462 = Cu% to lbs per tonne, 0.032151 = Au g/t to troy oz per tonne, and 0.032151 = Ag g/t to troy oz per tonne

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 the ZTEM survey at Kliyul, the IP survey at Redton, and the 2,500 - 3,500 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/217384

FAQ

What is the purpose of the ZTEM survey at Pacific Ridge's Kliyul project?

The ZTEM survey aims to provide deep view geophysics of the Kliyul project, enabling Pacific Ridge to expand the Kliyul Main Zone laterally and at depth, evaluate the area for additional porphyry targets, refine existing targets, and identify new ones on recently acquired claims.

How many meters of diamond drilling did Pacific Ridge complete at Kliyul in 2023?

Pacific Ridge completed 10,284 meters of diamond drilling at Kliyul in 2023, which was the largest ever drill program at the project.

What were the results of the last drill hole (KLI-23-069) at Kliyul in 2023?

The last drill hole of 2023 (KLI-23-069) intersected 45.0 m of 0.58% copper equivalent at a depth of 584 m, including 0.38% copper, 0.28 g/t gold, and 2.20 g/t silver. This was the deepest mineralized interval encountered at Kliyul.

What other projects is Pacific Ridge (PEXZF) planning to advance in summer 2024?

In addition to the ZTEM survey at Kliyul, Pacific Ridge is planning an induced polarization (IP) survey at its Redton copper-gold project and a 2,500-3,500 m diamond drill program at the Chuchi copper-gold project.

Where are Pacific Ridge's Kliyul, Redton, and Chuchi projects located?

Pacific Ridge's Kliyul, Redton, and Chuchi copper-gold projects are located in the prolific Quesnel terrane in northcentral British Columbia, Canada.

PACIFIC RIDGE EXPL LTD

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