PROSPECT RIDGE RESOURCES ANNOUNCES 24.8 GRAMS PER TONNE GOLD SAMPLING AT THE MINT 2 B SHOWING ON THE HOLY GRAIL DISTRICT SCALE PROPERTY
Prospect Ridge Resources Corp. has released initial exploration results from the first pass on the Mint 2 B quartz stockwork at the newly acquired Knauss Creek property. Multiple high-grade grab samples returned up to 24.8 grams per tonne gold and 4,740 g/t silver in the stockwork and multiple samples within the granodiorite host rock returning grades above three g/t gold:
- Granodiorite host rock to the J veins constantly returns plus three g/t gold;
- J1 vein assayed up 24.8 g/t gold, 252 g/t silver, 0.8 per cent copper, 3.3 per cent lead and 2.3 per cent zinc;
- In total 12 grab samples were taken all returning significant precious metal and base metal values demonstrating high potential on the polymetallic auriferous-quartz veins;
- Five additional J-type veins identified with results pending.
Michael Iverson, chief executive officer, stated: “Prospect Ridge team continues to quickly demonstrate that the Holy Grail district has been an overlooked opportunity. The bonanza polymetallic grades at the road-accessible Mint 2 B, only 35 kilometres from Terrace and just three kilometres from existing rail, is a clear demonstration of potential of the property. We have barely scratched the surface at this target, which is just one of the many targets already identified to date. We look forward to continuously sharing news from our expeditious exploration program of the entire district.”
On Nov. 3, 2021, the company acquired an option to purchase a 100-per-cent interest in the Knauss Creek property that creates a contiguous package with already held Holy Grail claims. Confirmation of historical work focused on the Saturn Minfile No. 103I188, the official mineral inventory files of the B.C. Geological Survey, which hosts the Mint 2 B showing and three parallel auriferous-quartz veins: J1, J2 and J3.
Multiple chip and grab samples were taken during the first pass ground truthing work program with summary in the associated table. Samples of the J1 vein assayed up 24.8 g/t gold, 252 g/t silver, 0.8 per cent copper, 3.3 per cent lead and 2.3 per cent zinc. In addition, multiple samples in the intrusive assayed above three g/t gold indicating bulk-tonnage potential.
Work also included visiting two small adits, confirmed by the team to be to be a stockwork network of crosscutting sulphide-rich quartz veins. The larger vein sets trend northwest-southeast on the same trend as the historical Dorreen mine, and the company believes that the veins may tie into the same system. The J veins have been traced over 1.5 kilometres to the northwest and identified more veins 2.5 km on strike to the southeast. The J vein set all dip near vertical. In addition, the team is focusing on two large granite diorite plugs located between Shock and Awe and Mint 2 B. The company believes that the two plugs have the potential to be an intrusive-related gold system and the source driving the gold to the system.
SUMMARY OF FIRST PASS CHIP AND GRAB SAMPLES AT MINT 2 B SHOWING
Sample Gold Silver Copper Lead Zinc
(g/t) (g/t) (%) (%) (%)
C363001 24.80 252.0 0.8% 3.3% 2.3%
C363002 3.13 232.0 0.5% 2.6% 1.5%
C363007 0.38 170.0 0.2% 3.1% 0.4%
C363008 3.34 440.0 0.2% 1.1% 1.5%
C363009 0.02 2.5 0.0% 0.0% 0.0%
C363011 0.06 89.3 0.2% 1.5% 0.5%
C363054 1.47 185.0 0.6% 3.0% 2.6%
C363055 2.06 179.0 0.3% 2.7% 2.4%
C363057 3.42 140.0 0.3% 0.6% 0.9%
C363058 0.96 216.0 0.4% 3.7% 1.3%
C363059 3.98 4,740.0 0.5% 0.8% 0.3%
C363060 0.13 18.1 0.0% 0.1% 0.1%
The company continued soil sampling grids, chip and grab samples, channel samples, and 3-D drone imagery in evaluation of the Mint 2 B showing and has already added an additional five J-type veins to assay results pending the team still has boots-on-the-ground mapping and continuous sampling to evaluate and delineate future drill hole targets.
Minfile No. 103I188
Minfile is the official mineral inventory files of the B.C. Geological Survey. Minfile No. 130I188 contains the historical Saturn showing and Mint 2 B showing, which contain the three parallel auriferous-quartz veins: J1, J2 and J3. Key highlights include:
- Locally, three parallel quartz veins (J1, J2 and J3), approximately 75 metres apart in total, occur in a small diorite intrusive, which cuts tuffs and argillites of the Jurassic to Cretaceous Bowser Lake group. The veins, which strike 30 degrees and dip steeply east, are one to two metres wide and are mineralized with pyrite, chalcopyrite, galena and sphalerite.
- A 30-centimetre sample assayed 1.7 grams per tonne gold, 261 grams per tonne silver and 1.1 per cent copper (Minister of Mines annual report, 1914) and a selected sample from a dump assayed 1.4 grams per tonne gold, 377 grams per tonne silver, 11 per cent lead, 8 per cent zinc and 1 per cent copper (Minister of Mines annual report, 1932).
- In 2003, two samples (S615 and S616) from the J1 vein assayed 1.54 and 18.54 grams per tonne gold, 541 and 109 grams per tonne silver, and 0.665 and 1.43 per cent lead, respectively. A sample (S613) of the J2 vein assayed 29.54 grams per tonne gold, 415 grams per tonne silver, 0.185 per cent copper, 4.17 per cent lead and 0.121 per cent zinc (assessment report 27225).
Qualified person
All scientific or technical information included in this news release has been reviewed, verified and approved by Rein Turna, PGeo, a consultant to the company and a qualified person as defined by National Instrument 43-101.
About Knauss Creek
The Knauss Creek property mineral claims are located in the Ominica mining division in British Columbia. The southern portion of the property is approximately 35 km northeast of the city of Terrace covering 3,152 hectares in mineral claims. The Knauss Creek property is being explored for polymetallic veins and potential associated skarn and porphyry mineralization within an orogenic geological environment. The property contains the Dorreen mine with historical production up to 57.26 grams per tonne gold and 205.71 grams per tonne silver.
About Holy Grail
The Holy Grail property is 10 kilometres outside of Terrace and within 45 km from a smelter and a deepsea port; the property is easily accessible and bounded by two highways with CN Rail, high-tension power crossing the property and a network of logging roads over approximately 80 per cent of the property, which will make for a very cost-effective exploration and strong feasibility. Some of the key areas are located below treeline and can be worked nearly year-round.
The Holy Grail district-sized package now contains over 80,000 hectares. The property was selected based on regional geological, structural and geochemical resemblances that coincide with mineralization 50 km northwest in the Golden Triangle. The company believes the project has the potential for a district-scale hydrothermal system and will extend the boundaries of the Golden Triangle to cover this vast underexplored region.
About Prospect Ridge Resources Corp.
Prospect Ridge Resources is a B.C.-based exploration and development company focused on strategic mineral exploration in Canada concurrently with developing a location in British Columbia and Quebec. Prospect Ridge’s technical team and management with over 100 combined years of mineral exploration experience believe the Holy Grail to have the potential for a district-scale hydrothermal system and will extend the boundaries of the Golden Triangle to cover this vast underexplored region.
We seek Safe Harbor.