Oct 7 2015
Pacific Ridge Exploration Ltd. ("Pacific Ridge" or the "Company") reports that it has completed a 12 hole, 655.3 m rotary air blast ("RAB") drill program at its Mariposa, White Gold District, Yukon gold property. Assay results will be released upon receipt.
About Pacific Ridge (see also http://www.pacificridgeexploration.com)
Pacific Ridge is a mineral exploration company with a successful history of over 30 years. It holds a well-located project portfolio in Yukon's White Gold District, in the same geological environment as Kaminak Gold's Coffee Gold Project and Kinross Gold's White Gold deposit. The Company's 280 km2 Mariposa gold project covers the prolific Scroggie and Mariposa placer gold creeks located east of the Coffee Gold Project. Mariposa has seen a $6 million program of soil sampling, trenching and drilling carried out over the past five years. In addition the Company's 49 km2 Gold Cap property adjoins the Kinross White Gold deposit and the 33 km2 Eureka Dome property is drained by several placer gold bearing creeks.
The Company's 100 percent owned Fyre Lake copper-gold-cobalt massive sulphide project in the Yukon's Finlayson Lake District is under option to MinQuest Limited ("MinQuest"), a publicly listed Australian company. A NI 43-101 compliant mineral resource estimate of the Kona Deposit reported in 2006 includes an indicated mineral resource of 3.571 million tonnes grading 1.57% copper, 0.10% cobalt and 0.61 grams gold per tonne at a 1% copper cut-off grade. In addition, an inferred mineral resource, at the same cut-off grade, includes 5.361 million tonnes grading 1.48% copper, 0.08% cobalt and 0.53 grams gold per tonne. These estimates were prepared by D. Blanchflower, P.Geo., of Minorex Consulting Ltd., who is the qualified person for this purpose. MinQuest is now preparing for a 2015 through 2016 exploration program at Fyre Lake that is planned to include geological mapping, soil sampling and infill and extensional drilling with the objective of increasing the size of the Kona resource. MinQuest also plans to test priority drill targets within the Fyre Lake Property that hold potential for discovery of additional copper-gold massive sulphide mineralization.
On behalf of the Board of Directors,
Gerald G. Carlson, President & CEO
Pacific Ridge Exploration Ltd.
Source: http://www.pacificridgeexploration.com/