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Pacific Ridge More than Doubles Size of Land Position at Chuchi with the Acquisition of the Chuchi South Porphyry Copper-Gold Project
Vancouver, British Columbia--(Newsfile Corp. - March 6, 2023) - Pacific Ridge Exploration Ltd. (T...
About this update from Pacific Ridge Exploration Ltd.
[{"type":"text","content":"Pacific Ridge More than Doubles Size of Land Position at Chuchi with the Acquisition of the Chuchi South Porphyry Copper-Gold ProjectVancouver, British Columbia--(Newsfile Corp. - March 6, 2023) - Pacific Ridge Exploration Ltd. (TSXV: PEX) (OTCQB: PEXZF) (\"Pacific Ridge\" or the \"Company\") is pleased to announce that it has acquired an option to earn up to a 75% interest in the Chuchi South property (\"Chuchi South\" or the \"Property\") from American Copper Development Corporation (TSXV: ACDX) (\"ACDX\") and prospector Ronald Bilquist (\"Bilquist\"). The Property adjoins Pacific Ridge's Chuchi porphyry copper-gold project (\"Chuchi\") on the south and west. Combined, Chuchi and Chuchi South (the \"Properties\") are more than 16,000 hectares in size, which more than doubles the size of Pacific Ridge's current land position at Chuchi (6,100 hectares). The Properties host several compelling exploration targets (see Figure 1), are road accessible and are located approximately 35 km northwest of Centerra Gold Inc.'s Mount Milligan mine within British Columbia's prolific Quesnel Trough.\"The acquisition of Chuchi South materially increases the size of our land position in one of B.C.'s most prospective areas for new porphyry discovery,\" said Blaine Monaghan, President & CEO of Pacific Ridge Exploration Ltd. \"Based on historic drill results, and the results of our 2022 exploration work at Chuchi, we believe that these Properties have excellent potential for new porphyry discovery. Pacific Ridge plans to drill test several targets at Chuchi and to further develop targets at Chuchi South this summer.\" Figure 1Target Zones at Chuchi and Chuchi SouthFigure 1To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/5460/157321_df2571334465fb7e_001full.jpgAbout Chuchi SouthAt the adjacent Chuchi project, porphyry copper-gold mineralization at the BP Zone is less than 2 km outboard of the southeastern margin of the regional-scale Hogem batholith and immediately west of a north-striking fault, the Valley Fault. This same fault extends southward onto Chuchi South. The main porphyry copper-gold target at the Property is the Coho Zone, to the east of Valley Fault. The Coho Zone is hosted in diorite that is spatially associated with an east-west trending fault zone and is flanked by magnetic highs t...