Business
Prospect Ridge Resources Commences Inaugural Drilling Program at Copper Ridge Zone of Knauss Creek Property
VANCOUVER, BC, Aug. 6, 2024 /CNW/ - Prospect Ridge Resources Corp. (the "Company" or "Prospect Ridge") (CSE: PRR) (OTC: PRRSF) (FRA: OED) is pleased to announce
About this update from Prospect Ridge Resources Corp.
[{"type":"text","content":" VANCOUVER, BC, Aug. 6, 2024 /CNW/ - Prospect Ridge Resources Corp. (the \"Company\" or \"Prospect Ridge\") (CSE: PRR) (OTC: PRRSF) (FRA: OED) is pleased to announce the commencement of an inaugural drilling program at the Copper Ridge zone within its flagship Knauss Creek property, located south of the Golden Triangle, near Terrace in British Columbia. The drill program will test high-priority targets inside the Copper Ridge zone which covers an area of 1,550 metres by 850 metres. Identified through extensive prospecting and surface sampling, which includes outcrop samples with values of up to 78.9 g/t Au, 4610g/t Ag and 29.4% copper, the Copper Ridge zone is a north-south oriented quartz veins system mineralized in gold, silver and copper hosted in an intrusion. \"This inaugural drill program on the Copper Ridge zone marks a pivotal milestone for the Company, building on our extensive exploration efforts that have yielded exceptional high-grade samples,\" commented Michael Iverson, CEO of Prospect Ridge. \"With more than $5 million in the treasury, we are well-financed to test this huge surface discovery and try to turn it into a deposit. This is an exciting time for the Prospect Ridge team and the shareholders. We look forward to sharing results from what we anticipate will be great drilling season!\" Key Program Highlights: A 2,000 metres minimum program is now underway at Knauss Creek's Copper Ridge zone located south of the Golden Triangle, 35 kilometres north of Terrace, along the Trans-Canadian Highway; Drilling will focus on the largest clusters of high-grade outcrop samples obtained through prospecting and aim to intersect the mineralized system at depth; The program is fully funded with the Company recently closing an over-subscribed private placement of more than $5.2 million (see news release dated July 25, 2024). Initial assay results should start arriving from the laboratory toward the end of the third quarter of 2024. Cautionary statements Outcrop samples are selective by nature and grades may not be representative of mineralized zones. True thickness or mineralization style and geological models cannot be determined with the information currently available. Qualified Person All scientific or technical information included in this news release has been reviewed, verified and approved by Yan Ducha...