VANCOUVER, British Columbia, Sept. 28, 2017 (GLOBE NEWSWIRE) -- Pacific Ridge Exploration Ltd. (TSX Venture:PEX) ("Pacific Ridge" or the "Company") is pleased to announce that the Company has defined four new high-priority gold targets at its road accessible RC Gold Project in the Tintina Gold Belt, Yukon.
RC Gold is situated at the headwaters of Clear Creek, one of the Yukon’s most prolific placer gold creeks. The target at RC Gold is an Intrusion Related Gold deposit such as Victoria Gold’s Eagle Gold, Golden Predator’s Brewery Creek, and Kinross Gold’s Fort Knox in Alaska. The new gold targets were defined through a combination of prospecting and soil sampling. The gold values, plus the associated pathfinder metals, are typical of mineralization associated with Intrusion Related Gold deposits.
NEW GOLD TARGETS AT RC GOLD
BEE North Target is a 1,000 m long Au-As-Sb-Bi soil anomaly. Three grab samples of quartz vein material collected from the western end of this anomaly assayed 0.511 ppm Au, 0.257 ppm Au and 0.317 ppm Au.
BEE South Target is a 900 m by 600 m Au-Ag-Sb-Pb-As soil anomaly located about one km south of BEE North. The linear nature of the anomaly suggests that it is reflecting the presence of a subcropping gold-silver vein or shear.
Big Creek Target is a 1,000 m by 400 m Au-As-Ag-Cu-W-Pb-Zn soil anomaly occurring within the Big Creek intrusive. The anomaly is related to rusty and altered quartz breccia and pyrrhotite-bearing calc-silicate mineralization. Two grab samples of this material ran 3.571 ppm Au and 1.919 ppm Au.
Far Grid Target is a 1,200 m by 600 m Au-Bi-Cu-W-Ag-As-Sb soil anomaly that extends a previously known soil anomaly. Due to limited bedrock exposure, the bedrock source of this anomaly is not yet known.
The Company is now planning a follow-up exploration program for the 2018 field season that will include a Phase 1 component of detailed mapping, sampling and trenching for each of these target areas. This will be followed by a Phase 2 drill test where warranted.
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.