Pacific Ridge Commences Exploration On the OGI Zinc Project
VANCOUVER, British Columbia, June26, 2017(GLOBE NEWSWIRE) -- Pacific Ridge Exploration Ltd. (TSX Venture:PEX) ("Pacific Ridge" or the "Company") announces that field work has commenced on its OGI Zinc project, Yukon. The project is located 50 km east of Dawson City and 7 km east of the Dempster Highway. The target is a sediment hosted Zn-Pb-Ag massive sulphide deposit. The geological setting is similar to Howards Pass and many other zinc-rich base and precious metal occurrences within Yukon's Selwyn Basin.
The 2017 field program will focus on a 1,000 m long polymetallic soil anomaly, with values ranging from 500 to 5,780 parts per million zinc, with anomalous silver, lead, barium, molybdenum, nickel and arsenic. The anomaly is open in two directions. The work will include geological mapping, prospecting, detailed soil sampling, ground geophysical surveys, including magnetics and VLF electromagnetics and hand trenching, with the objective of defining drill targets. The program will be completed by mid-July.
"We're very excited to commence exploration at the OGI Zinc project, which we believe has great potential to host a zinc-lead-silver massive sulphide deposit," said Gerry Carlson, President and CEO. "We have a busy Yukon exploration field season ahead of us. In addition to OGI Zinc, we will also be conducting exploration at our Eureka Dome property, located in the heart of the famous White Gold District, and our new Tintina Gold Belt property, RC Gold."
About Pacific Ridge
Pacific Ridge is a mineral exploration company with a successful history of discovery spanning over 30 years.
- Fyre Lake: Cu-Au-Co massive sulphide deposit is under option to BMC Minerals (No. 1) Ltd. ("BMC").
- OGI Zinc: Newly acquired Zn-Pb-Ag target within Yukon's Selwyn Basin.
- RC Gold: Newly acquired Intrusive Related gold target in the heart of the Tintina Gold Belt.
- White Gold Projects: Include Mariposa, Eureka Dome and Gold Cap, in the same geological environment as Goldcorp's Coffee Gold Project and White Gold's Golden Saddle deposit.
- TL Zinc: The target at this road-accessible southern BC property is a large Zn-Pb-Ag massive sulfide deposit.
On behalf of the Board of Directors,
"Gerald G. Carlson"
Gerald G. Carlson
President & CEO
Pacific Ridge Exploration Ltd.
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.
For further information, contact: Pacific Ridge Exploration Ltd. Gerald G. Carlson President & CEO Tel: (604)687-4951 www.pacificridgeexploration.com