TSX-V-listed Pacific Ridge Exploration has signed an earn-in agreement with Centerra Gold’s wholly owned subsidiary, Aurico Metals, to acquire up to a 75% interest in the Kliyul and Redton copper/gold porphyry projects, in British Columbia.
Pacific Ridge president Gerry Carlson commented on Friday that there was discovery potential within both of these projects, which are based within a prolific mineral and mining belt.
“The Kliyul project hosts some promising gold and copper intersections from historical drilling on the Kliyul zone, with numerous other untested targets within a 4-km-long altered and mineralised corridor,” he added.
Kliyul is a 6 000 ha advanced exploration project located 50 km southeast of the Kemess mine and 5 km from the Omineca mining road and power line in one of the most geochemically anomalous areas for copper and gold in the Quesnel Terrane.
The property contains several Minfile occurrences, including four major target areas: Kliyul, Bap Ridge, Ginger-Shadow and M39, each representing an interpreted porphyry centre over a 4 km strike length.
The Kliyul zone is the most intensely explored of these, with 33 drill holes (5 524 m) drilled since 1974, most of which targeted a near-surface copper and gold magnetite skarn zone.
Deeper drilling in 2015 encountered a porphyry gold/copper system.