Target

The target at Kliyul is a deposit. The property is located in northern BC’s Golden Horseshoe, host to numerous significant porphyry deposits including Red Chris, GT Gold, Kemess, Mt Milligan and Kwanika.

Project Highlights

Kliyul is a 6,000-ha advanced exploration project located 50 km southeast of the Kemess mine and 5 km from the Omineca mining road and power line in one of the most geochemically anomalous areas for copper and gold in the Quesnel Terrane. The property contains several Minfile occurrences, including four major target areas: Kliyul, Bap Ridge, Ginger-Shadow and M39, each representing an interpreted porphyry centre over a 4 km strike length.

The 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. Deeper drilling in 2015 encountered a porphyry gold-copper system. Drill highlights are shown in the table below:

Ref

Hole

From (m)

To (m)

Width (m)

Cu (%)

Au (gpt)

CuEQ (%)

AuEQ (gpt)

A

KL-5

10.8

68.3

57.5

0.32

0.99

1.13

1.38

B

KL-6

30.1

78.9

48.8

0.31

1.33

1.40

1.71

C

KL-7

20.0

71.0

51.0

0.17

1.19

1.14

1.40

D

KL-93-4

46.0

102.0

56.0

0.34

0.89

1.07

1.31

E

KL-93-5

16.0

76.0

60.0

0.26

1.34

1.35

1.66

F

KL-06-30

22.0

239.8

217.8

0.23

0.52

0.65

0.80

G

KL-06-31

346.0

378.0

32.0

0.21

0.62

0.72

0.88

 

KL-15-33

32.5

194.9

162.4

0.20

0.26

0.41

0.50

H

KL-15-34

37.5

90.0

52.5

0.24

0.17

0.38

0.46

I

KL-15-34

123.0

368.0

245.0

0.18

0.53

0.61

0.75

J

KL-15-34

280.6

301.0

20.4

0.39

2.55

2.47

3.03

K

KL-15-34

426.0

465.7

39.7

0.20

0.66

0.74

0.90

L

KL-15-35

331.0

380.0

49.0

0.16

0.22

0.34

0.42

M

KL-15-35

399.5

462.8

63.3

0.3

0.3

0.5

0.6

N

KL-15-35

414.0

433.5

19.5

0.43

0.56

0.89

1.09

O

KL-15-35

474.7

502.0

27.3

0.11

0.18

0.26

0.31

CuEQ = ((Cu(%) x CuP x 22.0642) + (Au(gpt) x AuP x 0.032151)) / (CuP x 22.0642)
AuEQ = ((Cu(%) x CuP x 22.0642) + (Au(gpt) x AuP x 0.032151)) / (AuP x 0.032515)
CuP = $2.80         AuP = $1,580

Property

Kliyul is a 6,000-ha advanced exploration project located 200 km north of Smithers, British Columbia, 50 km southeast of the Kemess mine and 5 km from the Omineca mining road and power line.

Project History

  • 1940’s: Gold and silver veins explored in the vicinity of the Ginger Zone.
  • 1970: KLI claims staked over the main Kliyul Zone by Kennco. Ground magnetics survey.
  • 1971: Kennco identified a 500 m diameter Cu soil anomaly with associated Au, Ag and Mo.
  • 1973-74: Claims optioned to Sumac Mines who drilled 11 holes. No assay results reported, variable chalcopyrite and magnetite.
  • 1974-76: BP Minerals staked the BAP claims to the south of KLI and defined a strong Cu soil anomaly. Also did minor trenching and seven lines of Max-Min EM geophysics.
  • 1981: Golden Rule Resources staked the KC claims over the BAP area and prospected high-grade Au-Ag veins. BP analyzed their BAP soils for Au and detected anomalous values.
  • 1981: Vital Mines acquired the KLI claims and discovered a magnetite stockwork with chalcopyrite in four drill holes.
  • 1984: BP optioned the Kliyul property, mapped the property and re-logged the core.
  • 1894: Golden Rule further explored high grade veins in the KC property (BAP).
  • 1986: Ritz Resources optioned the KC property and sampled it for its gold potential.
  • 1986: Lemming Resources optioned the BAP claims and completed surface sampling.
  • 1990: Placer Dome optioned the KLI claims and completed geophysical and geochemical surveys and identified three targets.
  • 1990: Golden Rule staked JO claims in the southwestern part of the current Kliyul property.
  • 1992: Swannel Minerals staked the Darb claims in the northern part of the current Kliyul property.
  • 1992-93: Noranda optioned the KLI claims, completed mapping and sampling and six reverse circulation holes on Kennco’s magnetite stockwork (Cu-Au skarn). They expanded the claim block and conducted an airborne geophysical survey (mag-EM-radiometrics). They discovered the Pacific Sugar Zone, a second Cu-Au skarn near the northern boundary of the current property.
  • 1994-95: Noranda drilled 10 core holes with modest results but recognized the porphyry potential at depth. They optioned the BAP property and completed soil sampling and a mag survey.
  • 2006: Geoinformatics acquired a large block of ground, including the Kliyul property.
  • 2007: Geoinformatics drilled 3 holes on the BAP Zone, with alteration but no significant mineralization.
  • 2010: Kiska Metals acquired the Geoinformatics claims, re-logged existing core and further demonstrated the potential for an alkaline porphyry Cu-Au deposit.
  • 2011: Kiska completed 30 km of IP geophysical surveying.
  • 2013: Teck optioned the property and completed mapping and sampling and an additional 30 km of IP.
  • 2014-15: Teck completed additional surface in exploration and, in 2015, 1,908 m of drilling in four drill holes, discovering the Kliyul porphyry system.
  • 2017: Property optioned by First Quantum, who completed surface sampling.
  • 2020: Property optioned by Pacific Ridge Exploration Ltd.

Geological Setting         

The Kliyul property is situated in the northern Quesnel terrane, an island arc that formed along the western North American continental margin in the Late Paleozoic to mid-Mesozoic and now stretches north-south within the Canadian Cordillera. The Kliyul property is underlain by the Late Triassic Takla Group volcanic, volcaniclastic and sedimentary rocks, including the Kliyul Creek unit and overlying Goldway Peak unit. Four main intrusive phases have been identified in and around the property, including the Upper Triassic Kliyul Creek Complex of mafic to ultramafic rocks, a Triassic to Jurassic monzonite porphyry, the Early Middle Jurassic Darb Creek tonalite and the Lower Cretaceous Osilinka stocks of granite, granodiorite and tonalite composition.

Hydrothermal Alteration

The central part of the Kliyul property hosts a 6km long, northwest-trending corridor of quartz-sericite-pyrite (phyllic) alteration. Kiska metals further defined separate distinct zones of phyllic alteration. These zones include quartz-sericite-pyrite alteration near the Ginger showing and a broad area of alteration approximately 1700 m long extending over the Kliyul copper-gold porphyry occurrence where outcrop is limited in the drift covered valley.

Variable mineral assemblages are noted through the valley bottom including quartz, sericite, chlorite, epidote, magnetite and albite. Hydrothermal alteration over the Kliyul zone consists of a 1 km by 0.5 km area of coincident hydrothermal magnetite, epidote and chlorite as pervasive replacements and as veins. This is overprinted by magnetite-destructive quartz-sericite +/- pyrite alteration.

Mineralization 

Porphyry copper mineralization at Kliyul typically comprises both veined and disseminated chalcopyrite with lesser amounts of bornite. Vein-hosted mineralization is within chlorite-epidote±pyrite veins, quartz-sericite-anhydrite-calcite±pyrite veins and quartz-chlorite-magnetite±pyrite veins. Chlorite-epidote±pyrite veins are the most common vein type and have varied vein selvages including chlorite, albite or sericite. Mineralization is most commonly hosted by andesite and volcaniclastic andesite, although feldspar porphyry and equigranular diorite can also be hosts. Increased copper and gold grades occur within magnetite-cemented breccia and with increased vein density. The presence of bornite is associated with higher copper and gold grades. Bornite was noted both within magnetite breccia and replacing mafic sites within equigranular diorite in the 2015 drilling

Terms

Pacific Ridge has the right to earn a 51% interest in the Kliyul and Redton properties by making cash payments totaling $100,000, issuing 2.0 million shares and spending $3.5 million on exploration by December 31, 2023. The Company then has the right to increase its interest in the Properties to 75% by making additional payments totaling $60,000, issuing 1.5 million shares and completing an additional $3.5 million in exploration by December 31, 2025. The agreement is subject to regulatory approval.

2020 Exploration Program

The Company is planning a comprehensive data review prior to laying out the 2020 exploration program.