Pacific Ridge begins phase II drilling at Golden Arrow
Pacific Ridge Exploration Ltd PEX
Shares issued 18,301,576 Nov 11 close $0.23
Wed 12 Nov 2003 News Release
Mr. John Brock reports
PACIFIC RIDGE EXPLORATION LTD. - DRILLING UNDERWAY AT GOLDEN ARROW
Pacific Ridge Exploration has disclosed that phase II drilling is under way
at its advanced-staged Nevada gold project, the Golden Arrow, located in
the Walker Lane gold belt near Tonopah, Nev. The 2003 phase II program
calls for approximately 7,600 metres (25,000 feet) of drilling on two
high-grade epithermal gold vein feeder systems within the Gold Coin and
Hidden Hill zones as well as initial drilling of the large recently
discovered Sunrise target.
Gold Coin zone
Pacific Ridge's earlier 2003 phase I drilling at the Gold Coin zone was
successful in extending known gold veins to a depth of 150 metres and
confirmed open-ended high-grade gold mineralization over widths of 2.5 to
five metres. For example, drilling on Section 2700 has traced
mineralization to a down-dip depth of 122 metres with an average grade of
29.9 grams per tonne gold and 98.9 grams per tonne silver over an average
width of three metres and remains open to depth. The Gold Coin West and
East veins, two prominent feeder veins to the bulk tonnage mineralization,
have been outlined by drilling over a length of 800 metres and remain wide
open to depth. Pacific Ridge plans drilling along the 800-metre length of
the zone to test the projected epithermal-boiling zone at depth for
higher-grade gold potential.
Hidden Hill zone
Pacific Ridge has yet to carry out any drilling at the Hidden Hill zone and
adjacent zone 186, where potential exists for expanding three subparallel
feeder vein zones within and below previously drilled bulk tonnage
mineralization. Previous drilling programs have partially defined
high-grade vein structures to a depth of 130 metres along the 400-metre
strike length. For example, vein A on Section 2650 averages 26.2 grams per
tonne gold over three metres to a depth of 100 metres. All three veins,
which remain open to depth and along strike, will now see drilling by
Pacific Ridge during the 2003 phase II program.
Sunrise zone
A propertywide geochemical survey was successful in defining additional
exploration targets on the 18-square-kilometre Golden Arrow property. The
priority target is the north-south trending Sunrise zone that is located
approximately 500 metres east of the Gold Coin zone. The Sunrise target
measures approximately 1,000 metres in length and 500 metres in width and
is defined by a strong coincident gold-mercury-arsenic-pH geochemical
anomaly associated with a broad zone of highly silicified volcanic rocks
with quartz-adularia stockwork veining. Preliminary surface sampling by
Pacific Ridge yielded grab samples assaying to 1.8 grams per tonne gold.
Sunrise is a large bulk tonnage gold target with a similar geologic setting
to the nearby Round Mountain mine, which has published resources of 300
million tonnes grading 0.7 gram per tonne gold containing six million
ounces gold.
The Golden Arrow exploration program is under the supervision of Pacific
Ridge's vice-president, exploration, Wayne J. Roberts, PGeo, a qualified
person as defined within National Policy 43-101. Pacific Ridge has the
option to earn a 60-per-cent interest in the Golden Arrow project from
Nevada Sunrise, LLC, a private Nevada corporation.
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