Pacific Ridge Exploration (PEX.V) released another exploration update earlier this month as it published the assay results from four drill holes that were completed on its Kliyul flagship project. All relevant grades and interval data can be found in the table below.
The company specifically highlighted holes KLI-23-065 and 066 where it intersected 600 meters of 0.27% copper-equivalent and while that grade is not very exciting, the 111 meters containing 0.45% copper-equivalent starting at just 90 meters down hole is definitely more interesting. And as the table above shows, the entire hole is pretty consistently mineralized throughout which is encouraging, but the grade is still a bit light.
Hole 66 is better in that regard and although the main interval of 299 meters also has a copper-equivalent grade of just 0.27%, the higher grade sections are encouraging as well. The interval of 116.9 meters containing 0.44% copper-equivalent is decent and those slightly higher grade results will be important to decide on the fate of Kliyul further down the road.
The company has now expanded the size of the Kliyul Main Zone to 750 by 600 by 600 meters (for a total tonnage of just over 700 million tonnes of rock and it will be interesting to see what Pacific Ridge can come up with in a resource calculation further down the road. Note: the calculation of the total tonnage is just based on the measurements provided by the company and most definitely does not mean all tonnes will meet the required cutoff grade for a resource calculation.
Disclosure: The author has a long position in Pacific Ridge Exploration. Pacific Ridge is a sponsor of the website. Please read the disclaimer.
