Posted in | News | Gold | Copper

Merah Begins Field Exploration Program on Fyre Lake Project in Yukon

Pacific Ridge Exploration Ltd. is pleased to announce that Merah Resources Limited has commenced a field exploration program on the Company's Fyre Lake copper, gold and cobalt massive sulphide deposit, located in Yukon's Finlayson Lake District, Yukon.

Merah can earn up to a 70% interest in Fyre Lake by paying $650,000 and issuing shares with a value of $650,000 to Pacific Ridge and completing a minimum of $6.5 million in exploration over four years. If Merah completes a 70% earn-in, Pacific Ridge will then have the option of retaining a 30% participating joint venture interest or reducing to a 20% interest, carried to a positive feasibility study (see News Release dated July 16, 2014).

The current field work program includes a helicopter borne VTEM electromagnetic and magnetic survey being flown under contract to Geotech Ltd. of Aurora, Ontario. The survey is designed to detect extensions to the known Kona Zone mineralization as well as other possible massive sulphide zones within the Property. It is planned that the survey results will help to guide Merah's program of in-fill and step-out drilling proposed for Fyre Lake in 2015.

In addition, Merah is sampling and re-assaying select samples from the Company's 1996-97 drill program. Once this sampling has been completed, Merah will commence a re-estimation of the Kona Zone mineral resource.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Pacific Ridge Exploration Ltd.. (2019, February 17). Merah Begins Field Exploration Program on Fyre Lake Project in Yukon. AZoMining. Retrieved on December 14, 2024 from https://www.azomining.com/News.aspx?newsID=10558.

  • MLA

    Pacific Ridge Exploration Ltd.. "Merah Begins Field Exploration Program on Fyre Lake Project in Yukon". AZoMining. 14 December 2024. <https://www.azomining.com/News.aspx?newsID=10558>.

  • Chicago

    Pacific Ridge Exploration Ltd.. "Merah Begins Field Exploration Program on Fyre Lake Project in Yukon". AZoMining. https://www.azomining.com/News.aspx?newsID=10558. (accessed December 14, 2024).

  • Harvard

    Pacific Ridge Exploration Ltd.. 2019. Merah Begins Field Exploration Program on Fyre Lake Project in Yukon. AZoMining, viewed 14 December 2024, https://www.azomining.com/News.aspx?newsID=10558.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.