{"id":1160784,"date":"2020-01-20T08:10:11","date_gmt":"2020-01-20T14:10:11","guid":{"rendered":"https:\/\/www.mining.com\/?p=1011667"},"modified":"2020-01-20T08:10:11","modified_gmt":"2020-01-20T14:10:11","slug":"pacific-ridge-to-acquire-two-copper-gold-properties-from-aurico","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1160784","title":{"rendered":"Pacific Ridge to acquire two copper-gold properties from Aurico"},"content":{"rendered":"<p>Pacific Ridge Exploration (TSXV: PEX) signed an earn-in agreement with Aurico Metals (TSX:AMI), a wholly-owned subsidiary of Centerra Gold (TSX:CG), to acquire up to a 75% interest in the Kliyul and Redton copper-gold porphyry projects in British Columbia, western Canada.<\/p>\n<div class='d-flex justify-content-center d-xs-block d-sm-block d-md-none'>\n<div id='div-gpt-ad-1561499308230-0'><script>googletag.cmd.push(function() {googletag.display('div-gpt-ad-1561499308230-0');});<\/script><\/div>\n<\/div>\n<p>Kliyul is a 6,000-hectare advanced exploration project located 50 kilometres southeast of the Kemess mine and 5 kilometres from the Omineca mining road, in one of the most geochemically anomalous areas for copper and gold in the Quesnel Terrane. <\/p>\n<figure class=\"wp-block-pullquote alignright\">\n<blockquote>\n<p>Geological interpretation supported by a variety of geophysical surveys suggest there is potential to expand the size of the Kliyul mineralized system<\/p>\n<\/blockquote>\n<\/figure>\n<p>According to Pacific Ridge, the property contains several occurrences registered in the province\u2019s mineral inventory database, including four major target areas, namely, Kliyul, Bap Ridge, Ginger-Shadow and M39, each representing an interpreted porphyry centre over a 4 kilometres strike length.<\/p>\n<p>\u201cThe 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 Cu-Au magnetite skarn zone,\u201d the miner said in a media statement. \u201cDeeper drilling in 2015 encountered a porphyry gold-copper system.\u201d<\/p>\n<p>Redton, on the other hand, is a porphyry copper-gold property that adjoins Kwanika Copper Corporation\u2019s Kwanika property along its eastern and northern boundary. <\/p>\n<p>\u201cThe Redton North target is a coincident magnetic and IP chargeability anomaly located 2.5 kilometres north of the Kwanika Central Zone deposit (Measured and Indicated Resource of 223.6 million tonnes grading 0.27% copper, 0.25 g\/t gold and 0.87 g\/t silver containing 1.32 billion pounds of Cu, 1.83 million ounces of Au and 6.27 million ounces of Ag) and is ready for drilling,\u201d Pacific Ridge\u2019s brief reads.<\/p>\n<p>Under the terms of the agreement, Pacific Ridge has the right to earn a 51% interest in the properties by making cash payments of $100,000, issuing 2 million shares and spending $3.5 million on exploration by December 31, 2023. <\/p>\n<p>The company then has the right to increase its interest in the properties to 75% by making payments of $60,000, issuing 1.5 million shares and completing an additional $3.5 million in exploration by December 31, 2025. <\/p>\n<p>\u201cWe are excited about the discovery potential of these very well-located projects, within a prolific mineral and mining belt,\u201d Gerry Carlson, president of Pacific Ridge, said in the release. \u201cThe Kliyul project hosts some promising gold-copper intersections from historical drilling on the Kliyul Zone, with numerous other untested targets within a four-kilometre long altered and mineralized corridor.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Vancouver-based miner is expected to get a 75% interest in the Kliyul and Redton properties in British Columbia.<\/p>\n","protected":false},"author":92,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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