Vancouver, B.C. - October 5, 2010 - Pacific Ridge Exploration Ltd. (TSX Venture: PEX) reports gold assays received for the first two of five trenches recently excavated on its Mariposa property located in the White Gold area of Yukon's South Klondike.
Assays from backhoe trenching are reporting broad intervals of gold mineralization within the open-ended, 1100 by 600 metre, Skookum Jim geochemical anomaly which contains gold-in-soil values reaching 1,500 ppb (parts per billion) gold.
Trench SJ-2 was excavated 590 metres in length within which the following gold zones have been identified:
|Interval (metres)||Length (metres)||Gold (grams/tonne; fire assay)|
Trench SJ-2 was excavated to an approximate one metre depth with composite rock samples collected over 5-metre intervals. Sections of subcrop and rubble indicate near bedrock sources. Rock type within zones hosting gold values consists of altered and oxidized gneiss, schist and quartzite which host quartz veining, stockwork fractures and breccia with minor sulphide mineralization and hematite. The presence of widespread limonite as disseminations and fracture fills, as well as quartz stockworks and both hydrothermal and tectonic breccias provide clear evidence that brittle deformation and hydrothermal activity has affected this area.
Trench SJ-2 comprises a significant target for diamond drill testing early in the 2011 field season.
Trench SJ-1, located 200 metres west of trench SJ-2 was excavated over a 240 metre length reporting anomalous gold, averaging 3210 ppb over 5 metres from 20 to 25 metres and 492 ppb Au over 5 metres from 155 to 160 metres within altered zones exhibiting quartz veining.
Assays are pending for trenches S-J 3, 4, and 5 .
One trench was completed within the Maisy May gold-in-soils anomaly, for which assays are pending.
Pacific Ridge will report trench assays and additional soil sampling results as will be received during the balance of the year. With the onset of winter conditions on-going exploration in the field will see resumption during the spring of 2011.
"John S. Brock"
John S. Brock
Manex Resource Group
Director of Investor Relations
Tel: (604) 641-2773
For further information, contact:
Pacific Ridge Exploration Ltd.
John S. Brock
Tel: (604) 604.641.2759
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This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that Pacific Ridge Exploration Ltd. ("Pacific Ridge") expects to occur, are forward-looking statements. Although Pacific Ridge believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Pacific Ridge does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.