Pacific Ridge drills 0.62% CuEq over 305.5 metres at Kliyul, British Columbia

Pacific Ridge Exploration Ltd.’s [PEX-TSXV; PEXZF-OTCQB] first four diamond drill holes (KLI-23-51 to KLI-23-054) from this year’s exploration program at the Kliyul copper-gold porphyry project have intersected significant copper-gold mineralization, with drill hole KLI-23-054 returning 305.5 metres of 0.62% CuEq (copper equivalent) (0.23% copper, 0.51 g/t gold and 1.22 g/t silver) within 540.3 metres of 0.46% CuEq (0.19% copper, 0.36 g/t gold and 1.09 g/t silver). Kliyul is located in the prolific Quesnel trough in north-central British Columbia close to existing infrastructure.

Highlights: KLI-23-054 returned 305.5 metres of 0.62% CuEq (0.23% copper, 0.51 g/t gold, and 1.22 g/t silver) within 540.3 metres of 0.46% CuEq (0.19% copper, 0.36 g/t gold, and 1.09 g/t silver).

KLI-23-052, a 130-metre step-out southeast from KLI-06-30, returned 137.0 metres of 0.42% CuEq (0.22% copper, 0.26 g/t gold, and 1.41 g/t silver) from 63.0 metres. KLI-23-052 also returned 27.8 metres at 0.67% CuEq (0.29% copper, 0.51 g/t gold and 2.05 g/t silver) from 161.2 metres, and 63.2 metres at 0.40% CuEq (0.23% copper, 0.21 g/t gold, and 1.53 g/t silver) from 403.8 metres.

KLI-23-051, a 110-metre south-southeast step-out from KLI-22-043, intersected 36.0 metres of 0.43% CuEq (0.22% copper, 0.28 g/t gold, and 1.37 g/t silver) from 70.0 metres. The drill hole ended early at 138 metres due to technical difficulties in a cross-fault structure.

KLI-23-053, a steeply drilled 130 metres south-southeast step out from KLI-22-043, returned 31.5 metres of 0.45% CuEq (0.27% copper, 0.24 g/t gold, and 0.93 g/t silver) from 102.5 metres.

The first four drill holes have expanded the known extents of the Kliyul Main Zone (KMZ) mineralized body to 600 metres east-west, up to 450 metres north-south (previously 350 metres north-south), and up to 600 metres vertical depth.

A combination of IP chargeability high (>20 mV/V), DC resistivity high (>2000 ohm-m) and moderate-to-high MVI Induced 3D model values continues to be a reliable geophysical targeting signature for mineralization at Kliyul. Pacific Ridge has completed approximately 6,500 metres of the planned 9,000-metre diamond drill program at Kliyul. Further drill results will be released once they are received and compiled.

“The first four drill holes of the 2023 diamond drill program at Kliyul have expanded the known extents of the KMZ mineralized body to the south and southeast,” said Blaine Monaghan, President and CEO. “I’m very confident that this year’s drilling will also expand the known extents of the KMZ mineralized body to the north, to the east, and to the west. I look forward to additional drill results within the next month.”

Owned 100% by Pacific Ridge and Kliyul is over 60 km² in size. Kliyul comprises nine porphyry copper-gold targets along two main trends: the 1.5 km-long east-northeast Valley Fault Trend, which includes its five fault-defined target areas (Kliyul West, KMZ, Kliyul North, East Wedge, and Kliyul East); and the 6-km-long northwest-trending Divide Lake Fault Trend which includes Ginger, Parish Hill, Bap Ridge, and M-39 target areas.

Our goal is to become British Columbia’s leading copper-gold exploration company. In addition to Kliyul, the company’s project portfolio includes the RDP copper-gold project (optioned to Antofagasta Minerals S.A.), the Chuchi copper-gold project, the Onjo copper-gold project, and the Redton copper-gold project, all located in British Columbia.

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