Pacific Ridge Exploration (PEX.V) has released the assay results from an additional four holes that were drilled on its flagship Kliyul copper porphyry project in British Columbia. As always, the company does an excellent job in providing more details on the data in its press release.
Hole KLI-23-062 appears to be the best hole of the batch as it is the sole hole where the average copper-equivalent grade exceeds 0.45%. In that hole, the company intersected 113 meters of 0.48% CuEq within a much thicker interval of almost 486 meters of 0.27% CuEq. Hole 60 also included an encouraging interval of 61 meters of 0.40% CuEq
The company disclosed in its press release that the drill program to date has now extended the mineralized area at KMZ to 630 meters in an east-west direction, up to 600 meters north-south and up to a total vertical depth of 600 meters. This indicates the total size of the mineralized are a is now 227 million cubic meters and contains around 600-650 million tonnes. Note: this is definitely NOT a tonnage calculation in the sense of a resource calculation, it is merely the implied tonnage of the mineralized area and obviously tonnage where the copper levels don’t meet the minimum cutoff grade criteria will obviously never make it into a resource calculation the 0.08% and 0.12% CuEq intervals in hole 59 for instance likely won’t meet the cutoff grades). We should wait until the company discloses an official resource calculation as that will be the only element that really matters.
In his statement, CEO Monaghan mentioned he is pleased with the results as the company continue[s] to grow the known extents of KMZ mineralization and continue to prove that KMZ mineralization pre-dates some of the mapped faults and is not constrained by these faults.
The company has now released assay results for 13 holes it has drilled on the Kliyul project as part of its 2023 summer exploration project. This means Pacific Ridge still has to report on the results of several more holes and we expect to see those results to come in over the next few weeks.
Disclosure: The author has a long position in Pacific Ridge Exploration. Pacific Ridge is a sponsor of the website. Please read the disclaimer.
