Copper Ridge Explorations Inc. - Drilling commences at Duke Island, Alaska
TSX.V: KRX
VANCOUVER, June 16 /PRNewswire-FirstCall/ - Copper Ridge Explorations Inc. (TSX.V:KRX) (the "Company") is pleased to announce that a 1,500m drill program has commenced at its Duke Island copper-nickel-platinum-palladium (Cu-Ni-PGE) property in southeast Alaska. The Company has the right to earn up to a 65% interest in the Duke Island property from Quaterra Resources Inc. (NYSE-A: QMM / TSX-V: QTA) ("Quaterra").
The planned drill holes will target high grade massive to semi-massive Cu-Ni-PGE sulphide mineralization within the Marquis Zone of this ultramafic intrusive complex. The drill targets have been defined by interpretations based on geological mapping, historical drill results and three-dimensional modeling of a variety of geophysical surveys including magnetics, electromagnetics, induced polarization, magnetotellurics and gravity. The historical drilling did not extend to the basal contacts or the feeder/conduit area of the intrusive complex, where highest grades of sulphide mineralization are expected to occur.
Cu-Ni-PGE sulphide mineralization was discovered on Duke Island by Quaterra in 2001. Between 2001 and 2006, Quaterra completed geological mapping, soil and rock sampling, ground and airborne geophysical surveys and 1,820 m of core drilling in 11 holes. The discovery includes copper, nickel and PGE enriched sulphide mineralization within an Alaska-type zoned ultramafic intrusion in Alaska's Alexander Platinum Belt. The occurrence is unique in the high percentage of disseminated and net-textured to massive sulfide mineralization within certain phases of the ultramafic intrusions. Outcrop samples have returned values from less than 10 ppm Cu to 2.8% Cu, from less than 10 ppm Ni to 0.25% Ni and from less than 5 ppb to over 1 ppm PGE from the South Rim of the Marquis prospect. Nine of eleven core holes drilled at the South Rim of the Marquis prospect intercepted from 6 to 90 m of semi-massive to massive sulfide containing highly anomalous values for Cu (10 to 12,500 ppm), Ni (27 to 4,694 ppm), Pt ((less than)5 to 680 ppb), and Pd ((less than)5 to 548 ppb) and established a north dip to the upper contact of sulfide mineralization. Modeling of EM and Natural Source Audio-frequency Magnetotellurics (NSAMT) survey results defines an eastern plunge and a wine-glass shaped conduit below the covered conductive anomaly at the Marquis prospect, reminiscent of other high grade magmatic sulfide deposits. The historical drilling focused on the western periphery and shallower southern portions of the main Marquis Zone. The current drill program will focus on the area of Quaterra's best drill results, in the area of the strongest geophysical targets, but will extend the tests to greater depth. See www.copper-ridge.com for a more comprehensive property description.
Mr. J. Greg Dawson, P.Geo., Vice President of Exploration for Copper Ridge, is the Qualified Person for the Duke Island project and is responsible for the technical content of this news release.
About Copper Ridge Explorations Inc.
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Copper Ridge is focused on two advanced projects: the Duke Island copper-nickel-platinum-palladium project in Alaska and the Clear Lake lead-zinc-silver massive sulphide deposit in central Yukon. By exploring quality projects in areas of high mineral potential and in mining-friendly jurisdictions, Copper Ridge is committed to maximizing shareholder value through discovery.
Gerald G. Carlson
President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results and Copper Ridge's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Copper Ridge assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
SOURCE Copper Ridge Explorations Inc.
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