Pacific Ridge Exploration (PEX.V) has released the assay results from the final six holes of the 12 hole drill program completed on its flagship Kliyul project in British Columbia. The entire program consisted of just over 7,000 meters of drilling which was aiming to expand the known mineralization at Kliyul’s copper-gold porphyry system.
The headline result of 328 meters containing 0.67% CuEq is good, the 89 meters of 1.06% CuEq within that wider interval is very good. The twelve holes completed during the 2022 field season confirm the size of the Kliyul Main Zone and also confirmed the additional exploration potential at Kliyul.
In summary: holes 45 and 46 are good. Hole 50 is excellent thanks to the grade ànd width. Hole 49 is ‘okay’: the grade is lower in the 340 meter interval but the narrower 66 and 28 meter intervals containing respectively 0.41% CuEq and 0.61% CuEq are good and the entire 340 meter interval will meet the cutoff grade. Holes 47 and 48a are weak: in hole 47 the grade simply isn’t there while encountering only 10 meters of mineralization in hole 48a will not add much value.
Taking all elements into consideration, this second batch of six holes appears to be better than the first series of six, and that is very encouraging going into the 2023 drill program which will hopefully start in the second quarter of this year.
It’s fair to say the exploration programs at both RDP (funded by Antofagasta as it is working towards a 75% stake in the project) and Kliyul have delivered in 2020. And with more than C$7M of cash in the bank, Pacific Ridge is ready for an active 2023. Antofagasta will continue to fund the exploration program at RDP while Pacific Ridge can focus on Kliyul.
Disclosure: The author has a long position in Pacific Ridge Exploration. Pacific Ridge is a sponsor of the website. Please read our disclaimer.
