Pacific Ridge Announces Yukon Exploration Results
VANCOUVER, British Columbia, Oct. 11, 2017 (GLOBE NEWSWIRE) -- Pacific Ridge Exploration Ltd. (TSX-V:PEX) ("Pacific Ridge" or the "Company") is pleased to announce results from surface exploration programs at its Eureka Dome gold project, White Gold District, and OGI Zinc project in Selwyn Basin. Soil sampling defined a gold soil anomaly with a strong epithermal gold signature in the headwaters of Eureka Creek. At OGI Zinc, the Company confirmed the presence of a large and strong zinc-silver soil anomaly.
Eureka Dome
The 2017 soil survey defined a gold soil anomaly with associated anomalous values of arsenic, antimony and mercury. The source of this anomaly is interpreted to be structurally controlled, epithermal-style gold mineralization associated with the Eureka Creek fault zone. Creeks from streams downslope of this anomaly are enriched in gold, with values ranging from 360 ppb to 2,190 ppb gold. The Company plans a program of detailed mapping, prospecting and trenching to determine the source of this anomaly.
OGI Zinc
The target at OGI Zinc is a stratabound, sedimentary exhalative (SEDEX) base and precious metal deposit within the Selwyn Basin. Historical exploration during the period 2011 to 2015 defined a zinc-silver soil geochemical anomaly approximately 1,000 m in length and 500 m wide. The anomaly is strongly anomalous in zinc (2,000 to +10,000 ppm), silver (<10 ppm to +50 ppm) and enriched in other elements including nickel, arsenic, molybdenum, barium, phosphorous and vanadium. The 2017 program increased the density of sampling through the anomaly and confirmed its size and intensity. While sampling of the underlying sediments encountered some enrichment in metals, the source of the soil anomaly was not discovered. The Company is considering a program of mechanical trenching to seek the bedrock source.
In addition, Pacific Ridge continues to evaluate new projects for acquisition.
About Pacific Ridge
Pacific Ridge has assembled a portfolio of highly-prospective gold and base metal projects located in the Yukon, where its board and management team have a track record of success. Its holdings include Mariposa, Eureka Dome and Gold Cap in the Klondike-White Gold District, RC Gold in the Tintina Gold Belt, OGI Zinc in Selwyn Basin and Fyre Lake in the Finlayson District.
On behalf of the Board of Directors,
“Gerald G. Carlson”
Gerald G. Carlson
President & CEO
Pacific Ridge Exploration Ltd.
For further information, contact:
Pacific Ridge Exploration Ltd.
Gerald G. Carlson
President & CEO
Tel: (604)687-4951
www.pacificridgeexploration.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The technical information contained within this News Release has been reviewed and approved by Gerald G. Carlson, Ph.D., P.Eng., President and CEO of Pacific Ridge and Qualified Person as defined by National Instrument 43-101 policy.
Forward-Looking Information: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling and other activities and events or developments that Pacific Ridge Exploration Ltd. ("Pacific Ridge") expects to occur, are forward-looking statements. Forward-looking statements in this news release include statements regarding the exercise of options and future exploration plans and expenditures. Although Pacific Ridge believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploration successes, and continued availability of capital and financing and general economic, market or business conditions. These statements are based on a number of assumptions including, among other things, assumptions regarding general business and economic conditions, that one of the options will be exercised, the ability of Pacific Ridge and other parties to satisfy stock exchange and other regulatory requirements in a timely manner, the availability of financing for Pacific Ridge’s proposed programs on reasonable terms, and the ability of third party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Pacific Ridge does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.