Pacific Ridge Exploration (PEX.V) has announced its drill program on the Kliyul gold-copper porphyry project in British Columbia is now underway. It has been a while since Kliyul has been drilled and Pacific Ridge is undoubtedly hoping for similar results of thick intervals of copper-gold mineralization with for instance almost 250 meters containing 0.75% copper-equivalent (or 0.7 g/t gold-equivalent), one of the more important holes drilled in 2015.
It’s perhaps worth emphasizing the copper-equivalent grade was based on a copper grade of $2.25/pound and a gold price of $1,650/oz. Applying today’s copper price of $4.30/pound and gold price of $1800/oz, the copper-equivalent result of that hole with 0.18% Cu and 0.53 g/t gold would be approximately 0.50% copper-equivalent or 0.82 g/t gold-equivalent.
The Pacific Ridge drill program will consist of a minimum of 2,500 meters which will drill-test both the Kliyul Main Zone as well as the two newly defined exploration targets at Kliyul East and West. We are expecting to see the initial assay results towards the end of September.
Disclosure: The author has no position in Pacific Ridge Exploration. Pacific Ridge is a sponsor of the website. Please read our disclaimer.
