20267 releases
Pacific Ridge Signs Exploration Agreements with Tsay Keh Dene Nation for the Kliyul and RDP Copper-Gold Projects
Exploration Agreements have been signed with Tsay Keh Dene Nation covering the Kliyul and RDP copper-gold projects in Northcentral B.C., establishing a framework for communication and collaboration as the projects advance. Kliyul, over 90 km2 and 100%-owned, hosts an inferred resource of 334.1 Mt grading 0.33% CuEq at a 0.20% CuEq cutoff. At RDP, 3,010 m of drilling in five holes was completed at the Day target this year, with assays pending.
CorporatePacific Ridge Completes Drilling at the Kliyul and RDP Copper-Gold Projects; Drilling at RDP Intersects 300 Metres of Continuous Copper-Sulphide Mineralization
Drilling has been completed at the 100%-owned Kliyul and RDP copper-gold projects in British Columbia. At RDP's Day target, five diamond drill holes totalling 3,010 m were drilled, with RDP-26-016, RDP-26-017 and RDP-26-019 intersecting continuous chalcopyrite +/- bornite mineralization from vertical depths of about 170 m over lengths greater than 300 m. At Kliyul, four holes totalling 1,524 m tested the previously undrilled M39 target, each intersecting porphyry-style alteration and veining. Assays are pending.
Drill resultsDrilling Starts at Pacific Ridge's Kliyul Copper-Gold Project; Two Drill Programs Underway
A ~2,500 m drill program has started at Pacific Ridge's 100%-owned Kliyul copper-gold project in British Columbia's Quesnel terrane, running alongside the ~3,000 m program underway at the RDP project about 40 km west. Drilling will target M39, a previously undrilled area associated with a one-km long copper and gold soil anomaly. Kliyul's Main Zone hosts an Inferred resource of 334.1 Mt grading 0.33% CuEq, or 2.42 billion pounds CuEq.
Drill resultsDrilling Underway at Pacific Ridge's RDP Copper-Gold Project
Drilling has begun at the 100%-owned RDP copper-gold project in B.C.'s Toodoggone Mining District, with about 3,000 m planned at the Day target to test the interpreted porphyry centre between the western and eastern magnetic lobes and define the 2025 western lobe discovery. Hole RDP-25-011 previously returned 112.2 m of 1.35% copper equivalent within 405.0 m of 0.71% CuEq. Pre-drill work included 1,057 line-km of magnetics, 283 line-km of magnetotellurics and 9 line-km of ground IP.
Drill resultsPacific Ridge Announces Drilling Plans for the Kliyul and RDP Copper-Gold Projects
2026 drill programs are planned for Pacific Ridge's 100%-owned Kliyul and RDP copper-gold projects in British Columbia, with 2,500 m at Kliyul focused on the never-drill-tested M39 target and 3,000 m at RDP testing the interpreted porphyry centre at Day and the 2025 western magnetic lobe discovery. The Kliyul Main Zone hosts an Inferred Mineral Resource of 334.1 Mt grading 0.33% CuEq. Additional IP, magnetic and magnetotelluric surveys are planned; mobilization is under way with drilling expected by month-end.
Drill resultsPacific Ridge Closes Final Tranche of C$8.5 Million Financing
The final tranche of a private placement closed for aggregate gross proceeds of C$8,456,400.02, comprising 9,920,000 hard dollar units at C$0.20, 11,012,174 flow-through units at C$0.23, and 13,400,000 charity flow-through shares at C$0.294. Minsur S.A., through subsidiary Cumbres del Sur S.A.C., purchased all common shares issued under the final tranche and now holds about 13.8% of Pacific Ridge on a basic basis. Cumbres received participation and top-up rights plus a nine-month right of first refusal to acquire the RDP copper-gold project in British Columbia.
FinancingPacific Ridge Closes Hard Dollar and Traditional Flow-Through Portions of Private Placement for Gross Proceeds of C$4.5 Million
The initial tranche of a private placement closed for gross proceeds of C$4,516,800.02, comprising 9,920,000 hard dollar units at C$0.20 and 11,012,174 flow-through units at C$0.23, each unit including a half warrant exercisable at C$0.30 until June 26, 2028. Flow-through proceeds are earmarked for drilling at the Kliyul copper-gold project in British Columbia. A charitable flow-through tranche of up to 13,400,000 shares at C$0.294, for up to C$3,939,600, is expected to close in early July. Finder's fees totalled $165,428 cash plus 735,730 warrants.
Financing
202523 releases
Pacific Ridge Signs Exploration Agreements with Takla Nation for Kliyul and RDP
Exploration Agreements have been signed with Takla Nation covering the Kliyul and RDP copper-gold projects in Northcentral B.C., establishing a framework for communication and collaboration as the projects advance. Kliyul's Main Zone hosts an Inferred Mineral Resource of 334.1 Mt grading 0.33% CuEq (0.15% copper, 0.26 g/t gold, 0.95 g/t silver). At RDP, hole RDP-25-011 returned 112.2 m of 1.35% CuEq within 405.0 m of 0.71% CuEq. Both projects are 100% owned by Pacific Ridge.
CorporatePacific Ridge Grants Stock Options
A total of 1,850,000 incentive stock options have been granted to directors, officers, advisors and consultants of Pacific Ridge Exploration. The options are exercisable at CAD$0.25 for a period of five years, subject to the Company's stock option plan and TSX Venture Exchange policies.
CorporatePacific Ridge Intersects 289 m of 0.77% Copper Equivalent or 1.15 g/t Gold Equivalent at Kliyul Copper-Gold Project; Expands Mineralization of 110 m to the West
Drill hole KLI-25-070 at the Kliyul copper-gold project in B.C.'s Quesnel terrane returned 289.0 m of 0.77% CuEq or 1.15 g/t AuEq (0.26% copper, 0.75 g/t gold, 1.54 g/t silver) within 489.8 m of 0.56% CuEq. KLI-25-071 returned 91.0 m of 0.47% CuEq within 421 m of 0.24% CuEq and extended mineralization 110 m west of KLI-23-068. The two-hole, 1,287 m program targeted infill and expansion at the Kliyul Main Zone, which hosts 334.1 Mt at 0.33% CuEq inferred.
Drill resultsPacific Ridge Intersects 154.7 m of 0.63% Copper Equivalent or 0.94 g/t Gold Equivalent; Expands Mineralization 270 m to the Northwest
Drill hole RDP-25-012 at the Day target on the 100%-owned RDP copper-gold project in B.C.'s Toodoggone district returned 154.7 m of 0.63% CuEq or 0.93 g/t AuEq (0.42% Cu, 0.29 g/t Au, 1.95 g/t Ag), including 86.0 m of 0.97% CuEq. Five holes totaling 2,156 m were completed; RDP-25-013 returned 148.0 m of 0.37% CuEq and RDP-25-014 cut 130.8 m of 0.47% CuEq 270 m north-northwest of RDP-22-005. A drone magnetics survey is planned before the 2026 season.
Drill resultsPacific Ridge Intersects 112.2 M of 1.35% Copper Equivalent or 2.02 g/t Gold Equivalent at the RDP Copper-Gold Project
Drill hole RDP-25-011 at the Day target on the 100%-owned RDP copper-gold project in B.C.'s Toodoggone district returned 112.2 m of 1.35% CuEq (0.76% copper, 0.86 g/t gold, 3.16 g/t silver) within 405.0 m of 0.71% CuEq from 4.8 m, including 19.0 m of 2.68% CuEq from 346.0 m. Five holes totaling 2,156 m were completed; results from RDP-25-012, RDP-25-013 and RDP-25-014 are pending.
Drill resultsPacific Ridge Announces Digital Marketing Agreement
A three-month digital marketing awareness campaign agreement has been signed with IRP Holdings Corporation (dba IRPub), running October 1, 2025 to December 31, 2025, for US$150,000. IRPub, led by CEO Paul Ruffolo in Pennsylvania, is arm's length and held no Pacific Ridge securities at the agreement date. The company also detailed services under its previously announced Capital Analytica Agreement. Both agreements are subject to TSX Venture Exchange approval.
CorporatePacific Ridge Closes Final Tranche of Brokered Financing; Raised Aggregate Gross Proceeds of C$4.65 Million
The second and final tranche of a brokered private placement closed for gross proceeds of C$1,958,426.62, comprising 7,806,734 units at C$0.20 and 1,726,434 flow-through units at C$0.23 (C$397,079.82), bringing aggregate gross proceeds to C$4,651,346.62 including the first tranche closed September 5, 2025. Each unit includes a warrant exercisable at C$0.28 until September 26, 2028. Net proceeds are for exploration at the Kliyul and RDP copper-gold projects in British Columbia and working capital. Red Cloud Securities acted as sole agent; final TSXV approval is pending.
FinancingPacific Ridge Announces Filing of NI 43-101 Technical Report for Kliyul Copper-Gold Project
An NI 43-101 technical report supporting the initial mineral resource estimate for the Kliyul Main Zone at the 100%-owned Kliyul copper-gold project in the Quesnel terrane, Northcentral B.C., has been filed on SEDAR+. The Inferred Mineral Resource totals 334.1 Mt grading 0.33% copper equivalent, 0.15% copper, 0.26 g/t gold and 0.95 g/t silver, containing 2.42 billion pounds CuEq, with an effective date of July 31, 2025. Assays are pending from two 2025 drill holes totalling 1,287 metres.
Study resultsPacific Ridge Announces Investor Relations Agreement
An investor relations and communications agreement has been signed with Triomphe Holdings Ltd. (dba Capital Analytica) for an initial six-month term commencing September 15, 2025, for CAD$120,000 in cash at CAD$20,000 per month, with an option to renew for a further six months at CAD$10,000 per month. Pacific Ridge will also grant Capital Analytica 100,000 incentive stock options at a later date. The agreement is subject to TSX Venture Exchange approval.
CorporatePacific Ridge Provides Drilling Update For Kliyul And Rdp Copper-Gold Projects
Two drill holes totaling 1,287 m were completed at the Kliyul copper-gold project and five holes totaling 2,156 m at the RDP copper-gold project, both in B.C.'s Toodoggone district. Kliyul drilling targeted infill and expansion of the Kliyul Main Zone, which hosts 334.1 Mt grading 0.33% CuEq inferred. At RDP's Day target, RDP-25-011 extended mineralization at least 50 m north of RDP-22-005, and copper-sulphide mineralization was intersected to 500 m vertical depth in RDP-25-013; both remain open. Assays pending.
Drill resultsDrilling Underway at Pacific Ridge’s Kliyul Copper-Gold Project
Drilling has begun at the 100%-owned Kliyul copper-gold project in B.C.'s Quesnel terrane, with a planned 2,500 m program targeting infill and resource expansion at the Kliyul Main Zone. KMZ hosts an Inferred Mineral Resource of 334.1 Mt grading 0.33% CuEq, 0.15% copper, 0.26 g/t gold and 0.95 g/t silver, containing 2.42 billion pounds CuEq, including 1.11 billion pounds copper, 2.74 million ounces gold and 10.22 million ounces silver.
Drill resultsDrilling Update At Pacific Ridge’s RDP Copper-Gold Project
Progress from the 2025 drill program at the 100%-owned RDP copper-gold project in B.C.'s Golden Horseshoe, at the southern end of the Toodoggone district, focused on the Day target. RDP-25-010 was terminated at 175.5 m in a late mineral intrusive; RDP-25-011 (431 m) extended mineralization at least 50 m north of RDP-22-005 and remains open; RDP-25-012 (363 m) and RDP-25-013 (582 m) confirmed the interpreted tabular geometry, with copper-sulphide mineralization to 500 m vertical depth. RDP-25-014 is ongoing; assays pending.
Drill resultsPacific Ridge Announces Initial Mineral Resource Estimate for Kliyul Copper-Gold Project
An initial inferred mineral resource estimate for the Kliyul Main Zone at the Kliyul copper-gold project in the Quesnel terrane of Northcentral B.C. reports 334.1 million tonnes grading 0.33% copper equivalent, 0.15% copper, 0.26 g/t gold and 0.95 g/t silver at a 0.20% CuEq cutoff, containing 2.42 billion pounds CuEq, 1.11 billion pounds copper, 2.74 million ounces gold and 10.22 million ounces silver, with an effective date of July 31, 2025. A NI 43-101 technical report will be filed within 45 days, followed by infill and expansion drilling and metallurgical test work.
Resource updateDrilling Underway At Pacific Ridge’s Rdp Copper-Gold Project
Drilling has begun at the 100%-owned RDP copper-gold project in the southern Toodoggone district of B.C.'s Golden Horseshoe, with a minimum of 1,500 m planned at the Day target this year. Prior hole RDP-22-005 intersected 107.2 m of 1.39% copper equivalent (0.63% copper, 1.10 g/t gold, 2.91 g/t silver) within 497.2 m of 0.66% copper equivalent. Day mineralization measures roughly 310 m east-west by 100 m north-south to 600 m depth and remains open in all directions.
Drill resultsPacific Ridge Announces AGM Results; Welcomes New Directors and Corporate Secretary
Shareholders approved all motions at the June 26, 2025 annual general meeting, including re-appointment of PricewaterhouseCoopers LLP as auditor and the rolling incentive stock option plan. Gerald Carlson, Blaine Monaghan, Bruce Youngman and new independent directors Stacie Jones and Josh Kierce were elected to the board, while Tally Barmash replaced Arie Page as Corporate Secretary. The company granted directors and officers options on 650,000 common shares at CAD$0.19, exercisable for five years.
CorporatePacific Ridge Partners with Fiore Group; New Strategic Advisors; Stock Option Grant
An agreement has been signed with the Fiore Group to provide Pacific Ridge with financial advisory and administrative services; Fiore invested in the Company's recently closed financing. Rob McLeod and Ryan Weymark were appointed strategic advisors, focused on new opportunities. The Company also granted incentive stock options to directors, officers, advisors and consultants for 2,250,000 common shares at CAD$0.17 per share, exercisable for five years.
CorporatePacific Ridge Closes Oversubscribed Financing; Raises Over $3.0m for Follow Up Drill Program at the RDP Copper-Gold Project
The second and final tranche of a non-brokered private placement has closed, bringing total gross proceeds to $3,064,988.91. The second tranche comprised 15,184,494 units at $0.14 and 3,561,292 critical mineral flow-through units at $0.17, with each unit including a warrant exercisable at $0.20 until June 4, 2028; finder's fees of $55,572.26 and 373,872 finder warrants were paid. Funds will support a follow-up drill program at the 100%-owned RDP copper-gold project in British Columbia and working capital.
FinancingPacific Ridge To Display Chuchi Drill Core At PDAC Core Shack
Drill core from the Chuchi copper-gold project in north-central B.C. will be displayed at the 2025 PDAC Core Shack on Sunday, March 2 and Monday, March 3 at booth #3114A. Management will also discuss plans to drill the RDP copper-gold project and meet potential joint venture partners for the Kliyul copper-gold project, which is available for joint venture. Chuchi's 2024 inaugural program totalled 2,716 m in five holes, with CH-24-073 returning 65.0 m of 0.42% CuEq.
CorporatePacific Ridge Plans to Drill RDP Copper-Gold Project Which Returned 107.2 metres of 1.39% Copper Equivalent or 2.06 g/t Gold Equivalent within 497.2 metres of 0.66% Copper Equivalent or 0.97 g/t Gold Equivalent in an Earlier Drill Program;Financing Update
A 2025 drill program is planned at the 100%-owned RDP copper-gold project in northcentral B.C., targeting a porphyry source at the Day target, where 2022 hole RDP-22-005 returned 107.2 m of 1.39% CuEq (0.63% copper, 1.10 g/t gold, 2.91 g/t silver) within 497.2 m of 0.66% CuEq. Pacific Ridge is not proceeding with previously announced US project option agreements and has cancelled the related financing, replacing it with a non-brokered private placement of up to 6,000,000 units at $0.14 and 6,000,000 critical mineral flow-through units at $0.17 for up to $1,860,000.
Drill resultsPacific Ridge Raising $2.4m To Explore Portfolio Of U.S. Copper And Gold Projects
A non-brokered private placement of up to 15,000,000 units at $0.16 per unit for gross proceeds of up to $2,400,000 is planned, with each unit comprising one common share and one warrant exercisable at $0.24 for 36 months, subject to an acceleration clause if shares close at or above $0.40 for ten consecutive trading days. Proceeds will fund exploration of recently optioned projects: Mineral Hill (Wyoming), Red Star (Utah), Ripsey West (Arizona) and Royston (Nevada), plus working capital. Finder's fees of 6% cash may be paid; TSXV acceptance required.
FinancingPacific Ridge Announces Effective Date of Share Consolidation
A previously announced share consolidation on the basis of one post-consolidation common share for every ten pre-consolidation shares is expected to take effect for trading purposes on January 23, 2025, subject to TSX Venture Exchange approval. Post-consolidation, Pacific Ridge will have approximately 17.0M common shares outstanding and a market capitalization under CAD$5.0M. Shares will continue trading under the symbol PEX, with new CUSIP 694798604 and ISIN CA6947986049; fractional shares will be rounded down and eliminated.
CorporatePacific Ridge Attending AME Roundup
Pacific Ridge Exploration will attend AME Roundup at booth #216 from January 20-23, with drill core from the Chuchi copper-gold project in B.C. on display at the Core Shack, booth #1026, on January 20 and 21. The company's 2025 focus will be the four recently optioned U.S. projects — Mineral Hill (Wyoming), Red Star (Utah), Ripsey West (Arizona) and Royston (Nevada) — while seeking partners for the Kliyul and RDP copper-gold projects in B.C. It also plans to spin out its Yukon gold projects and Mineral Hill into a new gold exploration company.
CorporatePacific Ridge to Acquire Portfolio of U.S. Copper Porphyry Projects
Option agreements signed January 7, 2025 with EMX Royalty subsidiary Bronco Creek Exploration give Pacific Ridge the right to acquire 100% of four U.S. projects: Mineral Hill (gold, Wyoming), Red Star (copper, Utah), Ripsey West (copper, Arizona) and Royston (copper, Nevada). Terms include an initial aggregate US$240,000 payment, 800,000 post-consolidation shares, further staged payments, share issuances and exploration expenditures of up to US$2,250,000 per project, with a 3% production royalty. The board also authorized a 10:1 share consolidation, and the company plans to spin out its Yukon gold projects and Mineral Hill in H1 2025, subject to TSXV approval.
Acquisition
202418 releases
Pacific Ridge Provides Overview Of 2024 Activities And Plans For 2025
In 2024 Pacific Ridge raised $3,467,999 and completed its first diamond drill program at Chuchi in northcentral British Columbia, drilling 2,716 m in five holes over a 750 m strike length at the BP Zone, plus a ZTEM survey at Kliyul and an IP survey at Redton that identified the NEX target within 3 km of NorthWest Copper's Kwanika South Zone. For 2025, the company plans to acquire a US copper porphyry project in Q1, begin spinning out its Yukon gold projects in H1, and seek a joint venture partner for Kliyul.
CorporatePacific Ridge’s Inaugural Drill Program Returns Some Of The Best Drill Results Ever Recorded At The Chuchi Copper-Gold Project
Results from the first five diamond drill holes (2,716 m) at the Chuchi copper-gold project in British Columbia included 65.0 m of 0.42% copper equivalent (0.31% Cu, 0.16 g/t Au, 0.69 g/t Ag) within 382.0 m of 0.27% CuEq in CH-24-073, and 413.9 m of 0.26% CuEq in CH-24-070, which reached mineralization at 420 m vertical depth. The holes tested a 750 m strike length of the BP Zone; the final hole, CH-24-074, ended in mineralization at 348 m.
Drill resultsZTEM Survey Results Provide Vector to Porphyry Centre and New Targets at Pacific Ridge’s Kliyul Copper-Gold Project
An airborne ZTEM survey covering 541 line-kilometres, or 85% of the 100%-owned Kliyul copper-gold project in British Columbia's Quesnel terrane, indicates a 700 m NNE-trending KMZ-Klip Corridor running from the Kliyul Main Zone to the southern margin of a magnetic and resistivity high associated with the Darb Creek pluton. The results support the interpretation that 2023 drill hole KLI-23-069 intersected a mineralized quartz diorite porphyry stock north of KMZ. Pacific Ridge plans 3-D modelling to define future drill targets.
Drill resultsIP Survey Confirms Porphyry Exploration Target at Pacific Ridge’s Redton Copper-Gold Project
An induced polarization survey at the 100%-owned Redton copper-gold project in British Columbia's Quesnel terrane identified a porphyry exploration target within 3 km of NorthWest Copper's Kwanika South Zone deposit. The September survey covered 7.5 line-km in three 2.5 km lines at 800 m spacing, returning chargeability highs above 12 mV/V coming as close as 100 m to surface at the NEX target; additional infill lines and a possible drill program are planned. Pacific Ridge also amended its Chuchi South and Chuchi West options, replacing a share issuance with a $250,000 cash payment to American Copper Development by January 30, 2028.
Drill resultsPacific Ridge Completes Inaugural Drill Program at the Chuchi Copper-Gold Project in B.C.; Intersects Copper Mineralization in Every Drill Hole
A first drill program at the Chuchi copper-gold project in British Columbia has been completed, comprising 2,716 m in five diamond drill holes over a 750 m strike length across the BP Zone. Every hole intersected alkalic porphyry copper mineralization of chalcopyrite and pyrite in breccias, veins and as disseminated replacements; assay results will be released once received and compiled. Chuchi is road accessible and lies 35 km northwest of Centerra Gold's Mount Milligan mine.
Drill resultsInduced Polarization Survey Underway At Pacific Ridge’s Redton Copper-Gold Project
An induced polarization survey is underway at the 100%-owned Redton copper-gold project in the Quesnel terrane of northcentral British Columbia, comprising three east-west lines of 2.67 line-km each, totaling 8 line-km at 800 m line-spacing. The survey tests three target areas in the northern half of the project: East Swan, Redton East and NEX. Redton is over 34 km2 and adjoins the eastern boundary of NorthWest Copper's Kwanika deposits.
Drill resultsDrilling Underway At Pacific Ridge’s Chuchi Copper-Gold Project In B.C.
The inaugural diamond drill program has begun at the Chuchi copper-gold project in British Columbia, 35 km northwest of Centerra Gold's Mount Milligan mine, with roughly 3,000 m planned in five or six holes across an 800 m strike length at the BP Zone. Holes are collared near historical results including CH-90-27, which returned 194.0 m at 0.21% copper and 0.21 g/t gold, and CH-91-42, with 229.2 m at 0.10% copper and 0.61 g/t gold. Chuchi is road accessible from Fort Saint James and the program is ground-supported.
Drill resultsPacific Ridge Closes Second And Final Tranche Of Its Non-Brokered Private Placement Raising A Total Of $1.7m
A non-brokered private placement closed with total gross proceeds of $1,707,880, including a second and final tranche of 350,000 non-flow-through units at $0.07 for $24,500; the first tranche raised $1,683,380 through 5,476,858 NFT Units and 16,250,000 flow-through units at $0.08. Each unit includes one warrant exercisable at $0.12 for two years. Proceeds will fund working capital and a 3,000 m diamond drill program at the Chuchi copper-gold project in B.C., expected to begin mid-August.
FinancingZTEM Survey Underway at Kliyul Copper-Gold Project; Pacific Ridge to Advance Three Copper-Gold Porphyry Projects this Summer
A 599 line-kilometre helicopter-borne ZTEM geophysical survey is underway at the 100%-owned Kliyul copper-gold project in British Columbia's Quesnel terrane, covering about 85% of the property and including the BAP Ridge, Ginger, Ginger South, Kliyul Main Zone, M-39 and Parish Hill targets, with modelling to provide 3D coverage to over one kilometre depth. Also planned this summer are an induced polarization survey at Redton and a 2,500–3,500 m diamond drill program at Chuchi.
Drill resultsPacific Ridge Financing Update
The closing date of Pacific Ridge Exploration's non-brokered private placement for aggregate proceeds of up to $2,000,000 has been extended by 30 days, with a second and final tranche expected within that period. A first tranche raised $1,683,380 through 16,250,000 flow-through units at $0.08 and 5,476,858 non-flow-through units at $0.07, each unit including a warrant exercisable at $0.12 for 24 months. Proceeds will fund working capital and a 2,500-3,500 m diamond drill program at the Chuchi copper-gold project in B.C., expected in August.
FinancingPacific Ridge Announces AGSM Results; Welcomes Harry Nijjar as New Chief Financial Officer
Harry Nijjar has been appointed Chief Financial Officer of Pacific Ridge Exploration, succeeding long-serving CFO Salvador Miranda, who retired at the June 27, 2024 Annual General and Special Meeting. Shareholders elected directors Gerald Carlson, Blaine Monaghan, Bruce Youngman and Gary Baschuk, re-appointed PricewaterhouseCoopers LLP as auditor, and approved the rolling incentive stock option plan and amended and restated articles, both subject to TSX Venture Exchange acceptance. Other officers appointed include Carlson as Chairman, Monaghan as President & CEO and Danette Schwab as VP Exploration.
NewsPacific Ridge Closes First Tranche of Financing; Raises $1.68 Million for Inaugural Drill Program at Chuchi Copper-Gold Project in B.C.
A first tranche of a non-brokered private placement closed for gross proceeds of $1,683,380, comprising 16,250,000 flow-through units at $0.08 and 5,476,858 non-flow-through units at $0.07, each with a warrant exercisable at $0.12 until June 7, 2026. Finder's fees of $107,091 and 1,367,380 finder's warrants were paid. Proceeds will fund working capital and a 2,400 m diamond drill program at the Chuchi copper-gold project in B.C., expected to begin mid-August.
FinancingPacific Ridge Announces 2024 Exploration Plans Including Inaugural Drill Program at Chuchi Copper-Gold Project in B.C.
A 2024 exploration program has been set for three copper-gold projects in the Quesnel terrane of northcentral British Columbia. It includes a first-ever 2,400 m diamond drill program at the Chuchi project's BP Zone, expected to start mid-August; ZTEM and MT geophysical surveys at Kliyul, with the ZTEM survey expected to commence mid-July and MT to follow; and an induced polarization survey at Redton expected to begin in July.
Drill resultsPacific Ridge Identifies Six-Kilometre-Long Copper-Gold Porphyry Trend at Chuchi Copper-Gold Project
A six-kilometre-long copper-gold porphyry trend has been defined at the Chuchi project in British Columbia's Quesnel Terrane, 35 km from Centerra's Mount Milligan Mine, following airborne and ground geophysics, soil sampling and historical data compilation. Targets include the BP Zone, with a non-43-101 historical geological resource of 50 million tonnes at 0.21–0.40% copper and 0.21–0.44 g/t gold and historic hole CH-90-27 grading 194.0 m at 0.21% copper and 0.21 g/t gold, plus the Digger and undrilled Coho zones. Pacific Ridge will issue 550,000 shares in lieu of a $50,000 payment on Chuchi South.
Drill resultsPacific Ridge Closes Second Tranche Of Oversubscribed Financing; Raises More Than $1.76 Million
The second and final tranche of a non-brokered private placement has closed, bringing total gross proceeds to $1,760,119.51. The second tranche consisted of 1,058,750 non-flow-through units at $0.08 for $84,700, following a first tranche of 12,072,500 NFT Units ($965,800) and 7,469,679 flow-through units at $0.095 ($709,619.51); each unit includes a warrant exercisable at $0.12 for two years. Proceeds are for working capital and exploration at the Kliyul copper-gold project and other British Columbia properties. Borden Putnam III has resigned from the board.
FinancingPacific Ridge Provides an Overview of Its Projects and Plans
An overview of Pacific Ridge's five copper-gold porphyry projects in northcentral British Columbia — Kliyul, Chuchi, RDP, Onjo and Redton — plus the Mariposa gold project in Yukon, which is available for sale or option. The RDP project, over 100 km2 and previously under option to Antofagasta Minerals, was recently returned to the Company after Antofagasta funded 3,288 metres of drilling in nine holes. Planned 2024 work includes ZTEM and MT surveys at Kliyul, an induced polarization survey at Redton, and an inaugural drill program at Chuchi as soon as practical.
CorporatePacific Ridge Intersects 110.0 m of 0.97% Copper Equivalent or 1.44 g/t Gold Equivalent within 455.8 m of 0.43% Copper Equivalent or 0.63 g/t Gold Equivalent; Best Mineralized Interval of the 2023 Drilling Program at the Kliyul Copper-Gold Project
Drill hole KLI-23-068 at the 100%-owned Kliyul copper-gold project in north-central British Columbia returned 110.0 m of 0.97% CuEq or 1.44 g/t AuEq (0.27% copper, 1.03 g/t gold, 1.55 g/t silver) within 455.8 m of 0.43% CuEq or 0.63 g/t AuEq. KLI-23-067 returned 57.4 m of 0.41% CuEq within 309.2 m of 0.32% CuEq, and KLI-23-069 returned 45.0 m of 0.58% CuEq from 584.0 m depth, the deepest mineralization to date. The 2023 program totalled 19 holes and 10,284 m; 2024 plans will be announced by quarter-end.
Drill resultsPacific Ridge Acquires 100% Interest in RDP Copper Gold Project
Pacific Ridge Exploration has exercised its option to acquire a 100% interest in the RDP copper-gold project in northcentral British Columbia, 40 km west of its Kliyul project, by making cash payments of $125,000, issuing 1,200,000 shares and spending $810,000 on exploration by December 15, 2023. RDP is optioned to Antofagasta Minerals, which can earn 75% through $1,350,000 in payments, an $800,000 success payment, $10,000,000 of exploration over eight years and a NI 43-101 preliminary economic assessment.
Acquisition
202325 releases
Induced Polarization Survey Results From Chuchi and Chuchi South Copper-Gold Projects Confirm the Potential for Several Large Porphyry Systems; Pacific Ridge Plans to Launch Inaugural Diamond Drill Program in 2024
2023 induced polarization survey results at the Chuchi and Chuchi South copper-gold projects in British Columbia's Quesnel Terrane identified three high-priority target areas: the BP Zone, Digger Zone and Coho Zone. The BP Zone hosts a 550 m x 450 m x 650 m interpreted porphyry intrusive complex 3D ZTEM anomaly with two IP anomalies spanning more than 1 km, where historic hole CH-90-27 returned 194.0 m at 0.21% copper and 0.21 g/t gold. Pacific Ridge plans its first diamond drill program on the projects in 2024.
Drill resultsPacific Ridge Intersects 111.0 M of 0.45% Copper Equivalent or 0.67 g/t Gold Equivalent Within 600.4 M of 0.27% Copper Equivalent or 0.40 g/t Gold Equivalent at the Kliyul Copper-Gold Project; Drilling Further Expands Known Extents of Kliyul Main Zone Min
Drill hole KLI-23-065 at the Kliyul copper-gold project in British Columbia's Quesnel Terrane returned 111.0 m of 0.45% copper equivalent or 0.67 g/t gold equivalent (0.24% copper, 0.30 g/t gold, 0.70 g/t silver) within 600.4 m of 0.27% CuEq, while KLI-23-066 cut 116.9 m of 0.44% CuEq within 299.0 m of 0.27% CuEq. Holes KLI-23-063 to 066 expanded Kliyul Main Zone mineralization to roughly 750 m east-west, 600 m north-south and 600 m vertical depth. Results for three remaining holes from the 19-hole, 10,284 m program are pending.
Drill resultsPacific Ridge Hits Porphyry Copper-Gold Mineralization in all three Diamond Drill Holes Completed at the RDP Copper-Gold Project; Step out Drilling at Day Target Successful; New Discovery at Bird Target
All three diamond holes at the RDP copper-gold project in northcentral British Columbia, totalling 1,428 metres, intersected porphyry copper-gold mineralization. Step-out hole RDP-23-007 at the Day target ended in mineralization, returning 19.0 m of 0.45% CuEq (0.32% copper, 0.19 g/t gold, 1.08 g/t silver) from 554 m, with Day now measuring about 290 m east-west, 100 m north-south and up to 600 m vertical. RDP-23-009 at Bird returned 18.5 m at 0.43% CuEq within 111.0 m at 0.23% CuEq. Antofagasta can earn 75% by spending $10,000,000 over eight years.
Drill resultsPacific Ridge Almost Doubles Size of Kliyul Copper-Gold Project
The Kliyul copper-gold project in the Quesnel Terrane, north-central British Columbia, has been expanded from approximately 52 km2 to approximately 92 km2, now comprising 83 contiguous mineral claims. The additions came via a June 2023 sale-and-purchase agreement for a 160.63-hectare claim west of Kliyul and an August 2023 agreement for five claims totaling 4,074.77 hectares, covering a gossanous target and a 750 x 500 m aeromagnetic anomaly 2.5 km south of the Kliyul Main Zone. A ZTEM airborne geophysical survey is planned for 2024.
NewsPacific Ridge Intersects 113.0m of 0.48% Copper Equivalent or 0.71g/t Gold Equivalent within 485.7m of 0.27% Copper Equivalent or 0.40g/t Gold Equivalent at the Kliyul Copper-Gold Project
Drill hole KLI-23-062 at the Kliyul copper-gold porphyry project in British Columbia's Quesnel Terrane returned 113.0 m of 0.48% copper equivalent or 0.71 g/t gold equivalent (0.22% copper, 0.36 g/t gold, 1.65 g/t silver) within 485.7 m of 0.27% CuEq or 0.40 g/t AuEq. KLI-23-060 returned 61 m of 0.40% CuEq within 100.0 m of 0.35% CuEq. The 2023 program totalled 19 holes over 10,284 metres, with results for seven holes pending.
Drill resultsPacific Ridge’s Common Shares Trading on the Frankfurt Stock Exchange
Pacific Ridge Exploration's common shares began trading on the Frankfurt Stock Exchange under the symbol PQWN, adding to its TSX Venture (PEX) and OTCQB (PEXZF) listings. The company completed 19 diamond drill holes totalling 10,284 metres at its 100%-owned Kliyul copper-gold project in British Columbia this year, plus three holes totalling 1,428 m at the RDP project, which is under option to Antofagasta Minerals. Results for 11 Kliyul holes and the three RDP holes remain pending.
CorporatePacific Ridge Intersects 103.5 M of 0.63% Copper Equivalent Within 388.5 M of 0.42% Copper Equivalent in Kliyul North Zone at Kliyul Copper-Gold Project
Drill hole KLI-23-058 at the Kliyul copper-gold porphyry project in British Columbia returned 103.5 m of 0.63% copper equivalent (0.18% copper, 0.66 g/t gold, 0.93 g/t silver) within 388.5 m of 0.42% CuEq, from the Kliyul North zone, a 130 m northern step-out. KLI-23-057 returned 89.3 m of 0.38% CuEq from 290 m and 80.0 m of 0.37% CuEq from 433 m. Results from 11 of this year's 19 holes remain pending.
Drill resultsPacific Ridge Closes Oversubscribed Private Placement
A non-brokered private placement closed with the issue of 3,672,667 units at $0.18 per unit for gross proceeds of $661,080.06. Each unit includes one common share and one warrant exercisable at $0.27 until September 28, 2025, with a hold period ending January 29, 2024. Proceeds will fund general working capital; finder's fees of $16,864.79 were paid, with the offering subject to TSX Venture Exchange acceptance.
FinancingPacific Ridge Completes Over 11,700 M of Diamond Drilling at Kliyul and RDP Copper-Gold Projects
10,284 m of diamond drilling in 19 holes was completed at the 100%-owned Kliyul copper-gold project in British Columbia, the largest program there to date, plus 1,428 m in three holes at the RDP project 40 km west, funded by Antofagasta Minerals, which can earn 75% by spending $10,000,000 over eight years. Assays from the first four Kliyul holes were previously reported, including 305.5 m of 0.23% copper, 0.51 g/t gold and 1.22 g/t silver; remaining results are pending.
Drill resultsGeophysics Program Underway at Chuchi and Onjo; Financing
An induced polarization survey is underway at the Chuchi and Onjo copper-gold projects in the Quesnel Terrane, northcentral B.C., totalling 37.5 line-km in eight lines: three lines (12.5 line-km) over the BP and Klaw zones at Chuchi, three lines (15 line-km) at Chuchi South over Coho and Coho West, and two lines at Onjo over Chica and Gingla. The program follows the lifting of a wildfire-related Area Restriction order that cancelled earlier plans. Pacific Ridge also plans a non-brokered private placement of up to 3,500,000 units at $0.18 for gross proceeds of up to $630,000, each unit including a warrant exercisable at $0.27 for 24 months.
Drill resultsDrilling Underway At Pacific Ridge’s RDP Copper-Gold Project
Drilling has begun at the RDP copper-gold project in northcentral British Columbia, 40 km west of the Kliyul project, with one hole (RDP-23-07) completed of a planned 1,800 m diamond drill program. RDP-23-07 is a 300 m eastern step-out from RDP-22-005, which returned 107.2 m of 1.45% CuEq (0.63% Cu, 1.10 g/t Au, 2.91 g/t Ag) within 497.2 m of 0.68% CuEq at the Day target. Surface geochemical sampling and IP surveys at Bird, Porcupine and Day are complete. Antofagasta Minerals can earn 75% by spending $10,000,000 over eight years.
Drill resultsPacific Ridge Intersects 305.5 M of 0.62% Copper Equivalent within 540.3 M of 0.46% Copper Equivalent at the Kliyul Copper-Gold Project
Drill hole KLI-23-054 at the Kliyul copper-gold porphyry project in British Columbia's Quesnel Trough returned 305.5 m of 0.62% CuEq (0.23% copper, 0.51 g/t gold, 1.22 g/t silver) within 540.3 m of 0.46% CuEq, from the first four holes of the 2023 program. KLI-23-052 returned 137.0 m of 0.42% CuEq from 63.0 m, KLI-23-051 36.0 m of 0.43% CuEq from 70.0 m, and KLI-23-053 31.5 m of 0.45% CuEq from 102.5 m. About 6,500 m of the planned 9,000 m program is complete.
Drill resultsExploration Underway at Pacific Ridge’s RDP Copper-Gold Project
The 2023 exploration program has begun at the RDP copper-gold project in northcentral British Columbia, comprising 1,800 m of diamond drilling, a 16 line-km IP survey at the Day, Porcupine and Bird targets, rock sampling at Porcupine and soil sampling at Bird, with drilling to start shortly and focus initially on the Day target. Antofagasta Minerals S.A. can earn 75% of RDP by spending $10,000,000 on exploration over eight years and delivering a preliminary economic assessment. Hole RDP-22-005 intersected 107.2 m of 1.45% CuEq within 497.2 m of 0.68% CuEq.
Drill resultsDrill Program at Kliyul Copper-Gold Project to be Increased from 7,000 M to 9,000 M; Largest Ever Drill Program
The diamond drill program at the 100%-owned Kliyul copper-gold project in British Columbia's Quesnel Trough has been increased from 7,000 m to 9,000 m, with 3,160 metres completed and two rigs on site. Funding comes from reallocating the Chuchi budget after a 2,000 m program there was cancelled due to wildfires and an Area Restriction order; part will fund up to 10 line-km of IP surveying at Onjo. A 1,800 m drill program at RDP, funded by Antofagasta, is expected to begin in August.
Drill resultsPacific Ridge Announces AGM Results
Shareholders elected five directors at the June 27, 2023 Annual General Meeting: Gerald Carlson, Blaine Monaghan, Bruce Youngman, Borden Putnam III and Gary Baschuk. PricewaterhouseCoopers LLP was re-appointed as auditor and the rolling incentive stock option plan, reserving a maximum of 10% of issued shares, was approved subject to TSX Venture Exchange acceptance. A total of 39,025,947 shares, or 36.13% of the 108,018,790 eligible shares, were voted.
CorporateDrilling Underway at Pacific Ridge's Kliul Copper-gold Project
Diamond drilling has begun at the 100%-owned Kliyul copper-gold project in the Quesnel Trough, north-central British Columbia, with 7,000 m planned for 2023. The first rig is producing core from KLI-23-051 and a second rig has arrived, with KLI-23-052 to start shortly. Eleven planned holes include seven to expand the Kliyul Main Zone into adjacent fault blocks and four testing targets at Ginger, Parish Hill, M-39 and Ginger South.
Drill resultsPacific Ridge Mobilizes Field Crews to Kliyul Copper-Gold Project; the First of Three Copper-Gold Projects to be Drilled this Year
Field crews have mobilized to the 100%-owned Kliyul copper-gold project in the Quesnel Trough, north-central British Columbia, where Pacific Ridge plans 7,000 m of diamond drilling this year targeting expansion of the Kliyul Main Zone and several undrilled interpreted porphyry centres. The company also plans 2,000 m of drilling at Chuchi and 1,800 m at RDP, with drilling at both expected to start in August. The RDP program is funded by Antofagasta Minerals S.A., which can earn 75% by spending $10,000,000 over eight years.
Drill resultsPacific Ridge Plans 7,000 Metre Drill Program at Kliyul Copper-Gold Project
A minimum 7,000 m diamond drill program in at least 12 holes is planned for 2023 at the 100%-owned Kliyul copper-gold porphyry project in the Quesnel Trough, north-central British Columbia, using two rigs. The program is fully funded and budgeted at $4.6 million, with drilling expected to be underway by the end of June. Over 4,000 m in at least seven holes will target expansion of the Kliyul Main Zone, with over 2,300 m in four holes testing satellite targets along the 6-km Divide Lake Fault trend.
Drill resultsPacific Ridge Acquires 100% Interest in Kliyul and Redton Copper-Gold Projects
A 100% interest in the Kliyul and Redton copper-gold porphyry projects in British Columbia's Quesnel Trough has been acquired from AuRico Metals Inc., a wholly owned subsidiary of Centerra Gold, in exchange for 16,996,099 common shares. The agreement, subject to regulatory approval, replaces a prior earn-in for up to 75% requiring $7.0M in exploration spending, 3,500,000 shares and $160,000 in cash payments by December 31, 2025. Pacific Ridge has budgeted about $4.6M for a 7,000 m drill program at Kliyul, starting late June/early July.
AcquisitionPacific Ridge Receives Final Payment for Fyre Lake
A $400,000 cash payment has been received from BMC Minerals Ltd. as the final payment to acquire a 100% interest in the Fyre Lake property, Yukon, with a further $1,000,000 payable once BMC's Kudz Ze Kayah property has been in commercial production for one year. The company reports over $7.6M in treasury and plans about 11,000 m of drilling in 2023: 7,000 m at Kliyul, 2,000 m at Chuchi and 1,800 m at RDP, all in British Columbia, with Kliyul drilling expected by the end of June.
NewsPACIFIC RIDGE MORE THAN DOUBLES SIZE OF LAND POSITION AT CHUCHI WITH THE ACQUISITION OF THE CHUCHI SOUTH PORPHYRY COPPER-GOLD PROJECT
An option has been acquired to earn up to a 75% interest in the Chuchi South property in British Columbia from American Copper Development Corporation and prospector Ronald Bilquist, adjoining Pacific Ridge's Chuchi copper-gold project and bringing the combined land position to more than 16,000 hectares from 6,100 hectares. A 51% interest requires $250,000 in payments to Bilquist and $4,000,000 in exploration by December 31, 2027; 75% requires $250,000 in shares and $150,000 cash to ACDX plus a further $4,000,000 by December 31, 2029. The agreement also grants an option on the Chuchi West property.
AcquisitionPacific Ridge Receives $600,000 from Delphi
Pacific Ridge received $600,000 from DELPHI Unternehmensberatung Aktiengesellschaft through the exercise of all 4,000,000 warrants at $0.15 each, issued under a financing that closed on March 5, 2021 in which DELPHI was the sole participant. The company states it has over $7.5M in treasury. Planned 2023 work includes a 7,000 m diamond drill program at the Kliyul copper-gold project and a 1,500–2,000 m inaugural program at Chuchi, both in British Columbia, plus continued exploration at RDP, optioned to Antofagasta Minerals S.A.
FinancingPacific Ridge Grants Stock Options
Incentive stock options to purchase 2,575,000 common shares were granted to officers, directors, employees and consultants at an exercise price of CAD$0.30 per share, exercisable for five years. Options to officers, directors and employees vest immediately, while 150,000 options granted to each of Westlake Capital and G2 Consultants vest 25% quarterly over 12 months. The grants are subject to the Company's stock option plan and TSX Venture Exchange policies.
CorporatePacific Ridge Intersects 89.0 M Of 1.06% Copper Equivalent within 328.0 M of 0.67% Copper Equivalent at Kliyul Copper-Gold Project; Materially Increases Size of Mineralized Body
Final results from the 2022 diamond drill program at the Kliyul copper-gold porphyry project in British Columbia's Quesnel Trough included hole KLI-22-050, which returned 89.0 m of 1.06% copper equivalent (0.28% copper, 1.05 g/t gold, 1.20 g/t silver) within 328.0 m of 0.67% CuEq. KLI-22-046 extended mineralization 250 m north of the Kliyul Main Zone with 59.0 m of 0.89% CuEq. The program totalled 7,014.7 m in 12 holes, increasing the KMZ mineralized body to roughly 600 m by 350 m by 600 m vertical depth.
Drill resultsPacific Ridge Intersects High-Grade Copper-Gold Mineralization in Every Drill Hole at RDP’s Day Zone Including 59.4 M Of 1.68% Copper Equivalent
Drill hole RDP-22-003 at the Day Zone of the RDP copper-gold project in northcentral British Columbia returned 59.4 m of 1.68% CuEq (0.78% Cu, 1.2 g/t Au, 2.99 g/t Ag) from surface, and RDP-22-001 returned 51.5 m of 1.01% CuEq from surface, completing results from the 2022 program of 1,860 m in six holes. Previously reported RDP-22-005 returned 107.2 m of 1.45% CuEq within 497.2 m of 0.68% CuEq. Day Zone mineralization remains open east, north, west and at depth. The program was funded by Antofagasta Minerals S.A., which can earn 75% of the project by spending $10,000,000 over eight years and delivering a preliminary economic assessment.
Drill results
202224 releases
Pacific Ridge Receives $500,000 Fyre Lake Payment
A $500,000 cash payment has been received from BMC Minerals Ltd. under amended terms for the option to purchase the Fyre Lake property in Yukon; the previously scheduled $850,000 final payment due December 31, 2022 has been restructured, with a final $400,000 option payment due by March 31, 2023. A $1,000,000 bonus payment remains due if BMC's Kudz Ze Kayah property reaches one year of commercial production. Treasury now stands at approximately $7.3M, funding drilling at Kliyul and an initial program at Chuchi, British Columbia.
NewsPacific Ridge Announces Closing Of C$6.0m Bought Deal Private Placement
A bought deal private placement of 18,750,000 flow-through units at C$0.32 per unit closed for gross proceeds of $6,000,000, including 3,125,000 units from the underwriters' over-allotment option. Each unit includes one flow-through share and half a warrant exercisable at C$0.40 until December 19, 2024, with a hold period ending April 20, 2023. Proceeds will fund 2023 diamond drilling at the Kliyul and Chuchi copper-gold projects in the Quesnel Trough, British Columbia. Underwriters received C$360,000 cash and 1,125,000 compensation warrants.
FinancingPacific Ridge Identifies New Porphyry Targets at Onjo Copper-Gold Project; Drill Results Update
Three early-stage porphyry copper-gold targets — Chica, Gingla and Yazi — have been identified at the 100%-owned Onjo project, 10 km west of Centerra Gold's Mount Milligan mine in northcentral British Columbia, defined by ZTEM conductivity, magnetics and surface geochemistry along an inferred ENE-trending Heidi Lake Trend. The 2022 program included prospecting, mapping, soil sampling and a 679 line-km ZTEM survey over 140 km2. Remaining drill results from Kliyul (six holes) and RDP (five holes) are expected in January 2023.
Drill resultsPacific Ridge identifies new Porphyry Targets at Chuchi Copper-Gold Project
The 2022 exploration program at the Chuchi copper-gold project in northcentral B.C., 35 km northwest of Centerra's Mount Milligan mine, identified as many as ten stock-shaped ZTEM resistivity anomalies interpreted as potential porphyry centres, including a west-dipping anomaly under the BP Zone extending from 350 m to over 1,000 m vertical depth and a newly identified Shoulder Zone 1.5 km south. Klaw Zone rock samples returned copper of 141-3,710 ppm and gold of 30-222 ppb. Drilling is planned for 2023, and the financing announced November 18, 2022 will not proceed.
Drill resultsPacific Ridge Intersects 588.0m of 0.41% Copper Equivalent or 0.56 g/t Gold Equivalent, Including 278.0m of 0.67% Copper Equivalent or 0.92 g/t Gold Equivalent from the Kliyul Copper-Gold Project
Drill hole KLI-22-041 at the Kliyul copper-gold porphyry project in the Quesnel Trough, northcentral British Columbia, returned 588.0 m of 0.41% CuEq or 0.56 g/t AuEq, including 278.0 m of 0.67% CuEq or 0.92 g/t AuEq (0.14% copper, 0.72 g/t gold, 0.95 g/t silver). Results from the first six holes of the 12-hole, 7,014.7 m program extended the Kliyul Main Zone north, south and at depth, to roughly 550 m x 200 m x 600 m vertical. Results from holes KLI-22-45 to -50 are expected within six weeks.
Drill resultsPacific Ridge Intersects 497.2 M Of 0.66% Copper Equivalent Or 0.96 G/T Gold Equivalent, Including 107.2 M Of 1.41% Copper Equivalent Or 2.04 G/T Gold Equivalent from the RDP Copper-Gold Project
Drill hole RDP-22-005 at the RDP copper-gold project in northcentral British Columbia returned 497.2 m of 0.66% copper equivalent or 0.96 g/t gold equivalent (0.37% copper, 0.40 g/t gold, 1.6 g/t silver) from near surface, including 107.2 m of 1.41% CuEq or 2.04 g/t AuEq (0.63% copper, 1.10 g/t gold, 2.91 g/t silver). The inaugural program totalled 1,861 m in six holes, funded by Antofagasta, which can earn 75% by spending $10,000,000 over eight years. Remaining assays are expected later in the Fall.
Drill resultsPacific Ridge Completes 2022 Drill Program At The Kliyul Copper-Gold Project; Expands Kliyul Porphyry Copper-Gold Footprint
The 2022 diamond drill program at the Kliyul copper-gold porphyry project in British Columbia's Quesnel Trough has been completed, totalling 7,014.7 m in 12 holes, the largest program to date at the project. All 12 holes encountered porphyry copper-gold style mineralization with pyrite, chalcopyrite and lesser bornite, expanding the known Kliyul porphyry footprint and related hydrothermal system to approximately 1,400 m east-west by 400 m north-south. Initial drill results are expected in October.
Drill resultsPACIFIC RIDGE CLOSES $780,000 FINANCING WITH CRESCAT AND DELPHI
A non-brokered private placement of 3,391,304 units at $0.23 per unit closed for gross proceeds of $780,000, subscribed by Crescat Capital LLC and DELPHI Unternehmensberatung Aktiengesellschaft, the company's two largest shareholders. Each unit includes one common share and one-half warrant exercisable at $0.35 for two years, with a hold period until January 23, 2023 and no finders' fees. Proceeds will fund additional drilling at the Kliyul copper-gold project in the Quesnel Trough, northcentral B.C., and working capital.
FinancingCrescat, Delphi to Fund Additional Drilling at Pacific Ridge's Kliyul Copper-Gold Project
A previously announced non-brokered private placement will be increased by 1,000,000 units to 3,391,305 units at $0.23 per unit for gross proceeds of up to $780,000. DELPHI Unternehmensberatung intends to acquire the additional 1,000,000 units and Crescat Capital the remaining 2,391,305 units. Each unit includes one common share and one-half warrant exercisable at $0.35 for two years, with proceeds funding additional drilling at the Kliyul copper-gold project in northcentral B.C. and working capital, subject to TSX Venture acceptance.
FinancingPacific Ridge to Increase Size of Drill Program at the Kliyul Copper-Gold Project
The diamond drill program underway at the Kliyul copper-gold project in northcentral B.C. will be expanded from 6,000 m to 6,800 m. The additional drilling will be funded by a non-brokered private placement of up to 2,391,305 units at $0.23 per unit for gross proceeds of up to $550,000, with Crescat Capital LLC intending to acquire all units. Each unit includes one common share and one-half warrant exercisable at $0.35 for two years, subject to TSX Venture Exchange acceptance.
Drill resultsPacific Ridge Completes Drill Program at RDP Copper-Gold Project
1,861 m of drilling in six holes has been completed at the RDP copper-gold project in northcentral British Columbia, with five holes totalling 1,393 m at the Day target and one 468 m hole at Roy. Hole RDP-22-005 reached 513 m and encountered zoned copper sulphide mineralization to the end of the hole, including a central bornite-chalcopyrite zone over 166 m from 78 m to 244 m. Initial Day and Roy results are expected in the fall. The program is funded by Antofagasta Minerals, which can earn 75% by spending $10,000,000 over eight years and delivering a PEA. At Kliyul, 4,818 m of the planned 6,000 m program is complete, with results expected in October.
Drill resultsPacific Ridge Completes Ztem Airborne Geophysical Surveys At Chuchi And Onjo Copper-Gold Porphyry Projects; Precious Metals Summit Beaver Creek
ZTEM airborne geophysical surveys have been completed at the Chuchi and Onjo copper-gold porphyry projects west of Centerra Gold's Mount Milligan mine in northcentral B.C., covering 720 line-km at Chuchi and 667 line-km at Onjo. Follow-up, fully funded programs will include geological mapping, rock and soil sampling and re-logging of historical drill core to define future drill targets. Pacific Ridge will also attend the 2022 Precious Metals Summit Beaver Creek on September 13-15.
Drill resultsDrilling Underway at Pacific Ridge’s RDP Copper-Gold Project; Kliyul Copper-Gold Drilling Update
Diamond drilling has begun at the RDP copper-gold project in northcentral British Columbia, a planned 1,500 m program funded by Antofagasta Minerals S.A., which can earn a 75% interest by spending $10,000,000 on exploration over eight years and delivering a preliminary economic assessment. Pacific Ridge is operator, with two holes planned at the Day target and one at Roy. At Kliyul, 3,939 metres of the planned 6,000 m program are complete, with initial results expected early in the fall.
Drill resultsLargest Ever Drill Program At The Kliyul Copper-Gold Porphyry Project Underway
A 6,000 m diamond drill program using two rigs began last week at the Kliyul copper-gold project in the Quesnel Trough, northcentral B.C., targeting lateral and depth expansion of the Kliyul Main Zone. Priority holes step out from KLI-21-037 (316.7 m of 0.75% CuEq), KLI-21-036 (437 m of 0.61% CuEq) and KLI-21-038 (342 m of 0.50% CuEq). An IP survey over Bap Ridge and M-39 and an airborne magnetic survey over a 4-km trend are also planned.
Drill resultsField Crews Mobilized to Pacific Ridge’s Kliyul and RDP Copper-Gold Porphyry Projects
Field crews have mobilized and camp construction is underway at the Kliyul copper-gold project in British Columbia, with a planned 6,000 m diamond drill program using two rigs expected to start next week, targeting step-outs from 2021 holes including KLI-21-037 (316.7 m of 0.75% CuEq). An IP survey and airborne magnetic survey are also planned. A 1,500 m drill program at the RDP project, funded by Antofagasta Minerals under option, is expected to begin in August.
Drill resultsPacific Ridge Announces AGM Results
Shareholders elected Gerald Carlson, Blaine Monaghan, Bruce Youngman, Borden Putnam III and Gary Baschuk as directors at the Annual General Meeting held June 23, 2022, re-appointed PricewaterhouseCoopers LLP as auditor, and approved a rolling incentive stock option plan reserving up to 10% of issued shares, subject to TSX Venture Exchange acceptance. Officers appointed include Carlson as Executive Chairman, Monaghan as President & CEO, Danette Schwab as VP Exploration, Salvador Miranda as CFO and Arie Page as Corporate Secretary. A fully funded 6,000 m diamond drill program at the Kliyul copper-gold project in British Columbia is expected to begin in the first week of July.
CorporatePacific Ridge Announces Appointment of Chief Geologist
C. Paul Jago has been appointed Chief Geologist of Pacific Ridge Exploration. Jago has nearly 20 years' experience in mining and mineral exploration in Canada and the U.S. focused on porphyry systems, most recently as Exploration Manager, Generative – North America at Centerra Gold, and previously with B.C.'s Ministry of Energy and Mines, Freeport McMoRan, Teck Resources and Placer Dome. He will support the upcoming drill programs at the Kliyul and RDP copper-gold projects and lead regional programs at Chuchi, Onjo and Redton in British Columbia.
ManagementPacific Ridge Announces 2022 Exploration Plans; All Five Copper-Gold Porphyry Projects to be Advanced this Summer
A 2022 exploration program covering all five copper-gold porphyry projects in northcentral B.C. includes 6,000 m of diamond drilling at the flagship Kliyul project, starting in June with two rigs and focused on step-out drilling at the Kliyul Main Zone, plus IP and airborne magnetic surveys. Antofagasta is funding a 1,500 m diamond drill program at RDP targeting Day and Roy, expected to begin in July. Chuchi and Onjo will receive 710 line-km and 560 line-km ZTEM surveys respectively, followed by mapping, sampling and core re-logging, while Redton will see mapping, prospecting and geochemical sampling.
Drill resultsPacific Ridge Grants Stock Options
Incentive stock options to purchase 2,550,000 common shares were granted to officers, directors, employees and consultants at an exercise price of CAD$0.36 per share, exercisable for five years. Options granted to officers, directors and employees vest immediately, while the 100,000 options granted to each of Westlake Capital and G2 Consultants vest 25% per quarter over 12 months. The grants are subject to Pacific Ridge's stock option plan and TSX Venture Exchange policies.
CorporatePacific Ridge Acquires Chuchi Porphyry Copper-Gold Project
An option agreement with AuRico Metals Inc., a wholly owned subsidiary of Centerra Gold, gives Pacific Ridge the right to earn up to 75% of the 6,100-hectare Chuchi porphyry copper-gold project in the Quesnel Trough, north central British Columbia. A 51% interest requires cash payments of $60,000, 2.0 million shares and $5 million in exploration by the fourth anniversary; 75% requires a further $100,000, 1.5 million shares and $5 million by the sixth anniversary. An airborne ZTEM survey, mapping, sampling and core re-logging are planned this summer.
AcquisitionPacific Ridge Closes $7.4 Million Financing; Size of Drill Program at Kliyul Copper-Gold Project to be Increased
A brokered private placement closed for gross proceeds of $7,431,200, comprising 19,150,000 charity flow-through units at $0.328 and 5,000,000 common share units at $0.23, including full exercise of the agents' 15% over-allotment option. Proceeds will fund a diamond drill program at the Kliyul copper-gold project in British Columbia, increased to 6,000 metres from 5,000 metres, with drilling expected to begin late June or early July. Agents received $289,770 cash and 1,299,999 compensation warrants.
FinancingPacific Ridge Announces Brokered Private Placement
A best efforts brokered private placement of up to $6,398,000 has been agreed with M Partners Inc. and Red Cloud Securities Inc. as co-lead agents, comprising 16.0M charity flow-through units at $0.328 and 5.0M common share units at $0.23, each with a half warrant exercisable at $0.35 for 24 months. Agents receive a 6% cash commission and 6% compensation warrants, plus a 15% over-allotment option. Closing is expected on or about April 19, 2022, with proceeds funding a planned 5,000-metre drill program at the Kliyul copper-gold project in British Columbia.
FinancingPacific Ridge Secures Drill Contractor for 5,000 Metre Diamond Drill Program at the Kliyul Copper-Gold Porphyry Project
Dorado Drilling Ltd. of Vernon, B.C. has been hired as diamond drill contractor for a planned minimum 5,000 m program at the Kliyul copper-gold porphyry project in the Quesnel Trough, British Columbia, with drilling expected to begin late June or early July. The program will target expansion of the Kliyul Main Zone along strike and at depth, plus the previously undrilled Kliyul East and Kliyul West targets. An IP survey at Bap Ridge and an airborne magnetic survey are also planned. The 2021 program totalled 1,544 m in three holes.
Drill resultsPacific Ridge Announces Participation In Red Cloud’s 2022 Very Pre-PDAC Mining Showcase; Acquires Additional Onjo Claims
A 100% interest in four internal claims at the Onjo copper-gold porphyry project in north central British Columbia has been acquired for $25,000 cash and 250,000 common shares, giving Pacific Ridge full ownership of all claims within the 9,800-hectare project boundary. The company also plans to present at Red Cloud's 2022 Very Pre-PDAC Mining Showcase on March 3 at 1:00 pm EST. 2022 plans include a minimum 5,000 m drill program at the Kliyul copper-gold project.
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