VANCOUVER, BRITISH COLUMBIA–(Marketwired – Nov. 10, 2016) – Pacific Ridge Exploration Ltd. (TSX VENTURE:PEX) (“Pacific Ridge” or the “Company”) reports that it has defined two chargeability anomalies on its Poker Brown gold-silver project, Nevada. Anomaly A is greater than 500 m long and 200 m wide, with strong chargeability values ranging from 40 to over 50 ms (milliseconds) and is strongest at depths of over 150 m below surface, reflecting the probable maximum depth of oxidation. This anomaly underlies the main area of historical surface workings, including vein, breccia and stockwork mineralization, and the area of most intense alteration on the property as defined by recent mapping. Anomaly B is 1,000 m by 600 m in size and ranges from 20 to 35 ms. Located to the north of Anomaly A, it underlies a broad area of structurally controlled and stockwork gold mineralization and alteration. The chargeability anomalies are interpreted to be caused by disseminated pyrite mineralization, which is associated with gold and silver mineralization at Poker Brown.
These anomalies provide high priority targets for the Company’s drill program at Poker Brown, planned for early 2017.
Poker Brown is road accessible and located 190 km from Reno. The target is a bulk tonnage, heap leachable gold deposit. See www.pacificridgeexploration.com for project details. The 3-D Induced Polarization geophysical survey, covering a 1.25 km by 1.5 km area, was completed by SJ Geophysics of Delta, BC.
About Pacific Ridge
Pacific Ridge is a mineral exploration company with a successful history of over 30 years.
The Company’s TL Zinc project is a 6,420 hectare, road accessible zinc-lead-silver property located 80 km northeast of Vernon, British Columbia, ideally situated with nearby highways, electrical power grid and rail. The target at TL is a large Broken Hill type or SEDEX (Sedimentary Exhalative) Zn-Pb-Ag massive sulfide deposit. A drill program is planned before the end of the year.
The Company’s Poker Brown gold-silver project is located 190 km from Reno, Nevada. The target is a large, bulk tonnage, heap leachable gold deposit. Numerous gold mines and advanced projects are located within an 80 km radius of the property, including Hycroft, Rosebud, Florida Canyon (12 km east of Poker Brown, recently acquired by Rye Patch Gold Corp.), Standard, Rochester, Relief Canyon, Majuba Hill, Wilco and Trinidad.
The Company holds a well-located project portfolio in Yukon’s White Gold District, including Mariposa, Eureka Dome and Gold Cap, in the same geological environment as Goldcorp’s Coffee Gold Project (acquired from Kaminak Gold earlier in 2016) and Kinross Gold’s White Gold deposit.
The Company’s 100 percent owned Fyre Lake copper-gold-cobalt massive sulphide project in the Yukon’s Finlayson Lake District has been defined by 115 holes totaling over 23,200 metres of diamond drilling. The Company is considering a number of options for further development of the Fyre Lake project.
On behalf of the Board of Directors,
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 placements 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, the timing and receipt of regulatory and governmental approvals for the transactions described herein, 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 transactions and 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.
Gerald G. Carlson
President & CEO
(604) 687-4951
www.pacificridgeexploration.com