Pacific Ridge Stock Jumps After Drilling 497.2 m of 0.66% CuEq, Emphasizing the Potential of Copper in BC



Pacific Ridge Exploration (TSXV:PEX, OTCQB:PEXZF), a copper-gold exploration company with mineral properties in British Columbia, has announced the longest, highest-grade interval ever returned from its RDP copper-gold project.  

“In fact,” said Blaine Monaghan, President & CEO of Pacific Ridge, “it is one of the longest, highest-grade copper-gold intervals to be reported in B.C. this year.” 

Assays from the hole returned 0.66% copper equivalent (CuEq) or 0.96 g/t gold equivalent (AuEq) over 497.2 metres, including 107.2 metres of 1.41% CuEq or 2.04 g/t AuEq.  

The company has completed six drill holes totaling 1,861 metres at RDP to date and expects to receive further assay results shortly.  

“Last drilled in 2011, the initial results from our inaugural drill program at RDP far exceeded our expectations,” said Monaghan.  

Shares in Pacific Ridge Exploration Ltd. (TSXV:PEX) jumped to $0.335 per share from the previous day’s $0.28 after yesterday’s results were announced, the highest it has been since August.  

Copper Mining in BC 

Copper mining in British Columbia has been a staple of the province’s economy since the turn of the 19th century, when small copper mines had already begun to operate throughout the province. By the mid-1900s, a group of American copper companies began coming to BC with the expertise of building profitable copper porphyry mines, most located in south central and central BC, and the discovery of gold-enriched copper porphyry deposits in the late 1980s led to a revival of the industry as gold companies became interested in the deposits. 

In 2020, BC mines produced over 255,000 tonnes of copper concentrate, representing over half (53.7%) of production in Canada. Ontario was a distant second with 26% or over 123,000 tonnes.  

Want to learn more about copper mining in British Columbia? Check out the Kinvestor Network’s overview of BC’s copper mining history 

Other BC-Based Junior Mining Companies with Copper Porphyry Discoveries 

With over 7,800 copper-bearing occurrences throughout the province and hosting more than 7 million tonnes of copper reserves in producing mines, British Columbia is home to several junior mining companies with promising copper discoveries.  

Kodiak Copper (TSXV:KDK) 

Kodiak’s most advanced asset is the MPD copper-gold porphyry project in the prolific Quesnel Trough in southern British Columbia, Canada, where the Company made a discovery of high-grade mineralization in 2020 at the Gate Zone. Further drilling significantly expanded the Gate Zone to over 1 kilometre in length, 350 m in width and 850m in depth to date, open in multiple directions. 

Amarc Resources (TSXV:AHR) 

Amarc is advancing its 100%-owned IKE, DUKE, and JOY porphyry copper-gold districts located in different prolific porphyry regions of southern, central and northern BC, respectively. The company recently completed a successful $14 million 2022 exploration program at the JOY District with its earn-in partner Freeport-McMoRan Mineral Properties Canada Inc.   

The company announced assay results from its initial drill program at JOY in March, with highlights such as 101.90 metres of 0.56% CuEq, 29.00 metres of 0.46% CuEq, and 66.60 metres of 0.40% CuEq.  

NorthWest Copper (TSXV:NWST) 

NorthWest Copper is a new copper-gold explorer and developer with several projects in British Columbia including the advanced, high-grade Kwanika/Stardust project, the extensive Lorraine project with existing high-grade resources, and East Niv, a brand-new copper-gold porphyry system discovered in 2021. 

The company recently announced the results of four drill holes from its Kwanika Deposit’s Central Zone, with highlights such as 364.20 metres of 0.27% CuEq from 27.80 to 392.00 metres, including 24.55 metres of 0.86% CuEq from 229.30 to 253.85 metres.  

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