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Prospect Ridge Resources Corp. (PRRSF) is a British Columbia based exploration and development company with a focus on gold, silver, and copper exploration. The company's flagship properties, Knauss Creek and Holy Grail, hold significant potential in the under-explored region near Terrace, BC. With over 100 years of cumulative mineral exploration experience, Prospect Ridge is dedicated to extending the boundaries of the Golden Triangle through its exceptional geological potential.
Prospect Ridge Resources Corp. (CSE: PRR) (OTC: PRRSF) has successfully completed its inaugural drilling program at the Copper Ridge zone within the Knauss Creek property, near Terrace, British Columbia. The program included 2,229 metres in nine drill holes, designed to test high-priority targets identified through previous prospecting and surface sampling.
Key highlights include:
- Drilling focused on areas with high vein density and high-grade outcrop samples
- Assay results expected to begin arriving in the next six weeks
- Drill holes confirmed mineralized quartz veins and revealed mineralization in the host rock
- Company remains well-funded after completing a $5.2 million private placement
A total of 1,914 samples have been submitted for multi-element analysis. The company expects to use the data collected from these first-ever drill holes to inform the next steps in its exploration program at Knauss Creek.
Prospect Ridge Resources Corp. (CSE: PRR) (OTC: PRRSF) has launched its inaugural drilling program at the Copper Ridge zone within its Knauss Creek property near Terrace, British Columbia. The program aims to test high-priority targets in an area spanning 1,550 by 850 meters, where previous surface sampling yielded impressive results of up to 78.9 g/t Au, 4610 g/t Ag, and 29.4% copper. The company plans a minimum of 2,000 meters of drilling, focusing on the largest clusters of high-grade outcrop samples. With over $5 million in treasury from a recent oversubscribed private placement, Prospect Ridge is well-funded for this exploration. Initial assay results are expected by the end of Q3 2024.
Prospect Ridge Resources Corp. (CSE: PRR) (OTC: PRRSF) has successfully closed its oversubscribed private placement, raising total gross proceeds of $5,218,847.24. The final tranche consisted of 2,912,500 NFT Units at $0.16 each and 7,717,441 FT Units at $0.18 each, totaling $1,855,139.38. The company paid $100,801.38 in finder fees and issued finder warrants. Insiders participated in the final tranche, acquiring approximately 0.41% of the issued common shares. The proceeds will fund exploration on the Knauss Creek and Holy Grail Properties, corporate development, and working capital. The FT Placement proceeds will be used for Canadian Exploration Expenses qualifying as flow-through mining expenditures.
On May 22, 2024, Prospect Ridge Resources announced new high-grade discoveries on their Holy Grail property, situated near Terrace, BC. The field team discovered notable mineral showings at Golden Bowl and Temple, and high-grade results on Mount Garland and Wesach mountain. Noteworthy samples included 9.99 g/t Au, 183 g/t Ag, and 1.81% Cu from Golden Bowl, and 8.16 g/t Au, 137 g/t Ag, and 14.8% Cu from Temple. These findings highlight significant geological potential around the Copper Ridge zone and Leon's Legacy showings. The company plans to commence drilling in summer 2024.
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