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Pacific Ridge Announces Commencement of Drilling at Spius
Vancouver, British Columbia--(Newsfile Corp. - June 5, 2019) - Pacific Ridge Exploration Ltd. ...
About this update from Pacific Ridge Exploration Ltd.
[{"type":"text","content":"Pacific Ridge Announces Commencement of Drilling at SpiusVancouver, British Columbia--(Newsfile Corp. - June 5, 2019) - Pacific Ridge Exploration Ltd. (TSXV: PEX) (\"Pacific Ridge\" or the \"Company\") reports that drilling has commenced on its Spius copper porphyry prospect located 40 km southwest of Merritt, British Columbia. The program will consist of four to six holes and is being conducted by Paycore Enterprises Ltd. of Valemount, B.C. The drilling will target copper soil anomalies that correlate with zones of enhanced IP chargeability with high resistivity.The Spius property was explored for its porphyry potential in the 1960's and early 1970's. Exploration focused on a gossan area where work included an IP survey, trenching and 27 percussion and core drill holes. The drilling was shallow, with none of the drill holes exceeding 100 m. Drill logs and assay results have been lost. However, a 1969 assessment report noted that hole 2, of a 5-hole drill program, ended in 8 feet (191 to 199 ft.) of 0.4% Cu. This hole is located on the inner edge of the interpreted pyrite halo and on the edge of the copper soil anomaly. Two recently collected float samples of porphyry style mineralization with disseminated pyrite and chalcopyrite assayed 2.53% Cu and 1.43% Cu. The Company believes that the original gossan area and IP anomaly are the pyritic halo to a potential core copper zone, as reflected by the soil copper anomaly and mineralized float. Soil geochemical surveys at Spius over the past several years have defined a central copper soil anomaly, 900 m by 750 m and open to the south, ranging from 100 ppm to plus 4,000 ppm Cu. The IP survey confirmed and expanded an earlier survey from the 1960's, providing greater detail and depth penetration and defining a horseshoe-shaped, high chargeability anomaly that envelopes the copper soil anomaly. The chargeability anomaly is believed to represent the pyritic halo of a porphyry copper system, surrounding a copper mineralized shell or core zone. The copper zone drill target is defined by the high copper in soils and supported by underlying zones of moderate chargeability and high resistivity.About Pacific RidgePacific Ridge has assembled a portfolio of highly-prospective gold and base metal projects located in the Yukon and British Columbia, where its board and management team have a track...