TSX.V: KRX
www.copper-ridge.com
VANCOUVER, Sept. 10 /PRNewswire-FirstCall/ - Copper Ridge
Explorations Inc. (TSX.V:KRX) (the "Company") announces that it has
completed a five hole 1,537 m drill program at its Duke Island
copper-nickel-platinum-palladium (Cu-Ni-PGE) property in southeast
Alaska (the "Property"). The
Company has the right to earn up to a 65% interest in the Property
from Quaterra Resources Inc. (NYSE-A: QMM / TSX-V: QTA)
("Quaterra").
Summary - Best results from the program included .294% copper
and .075% nickel over 4.9m and .148% copper and .039% nickel over
13.4 m over two separate intervals in hole DK10-08. Despite
drilling to depths of up to 468 m, the targeted basal contact of
the mineralized intrusion was not encountered. The drilling
determined that zoning within the ultramafic complex is more
complex than anticipated and that what had been thought to be the
basal contact, as interpreted through several geophysical
techniques, was in fact rafts of partially assimilated sedimentary
rocks. The combination of high sulphide content and graphite
related to the sediments produced strong electromagnetic
conductors.
The Company believes that Cu-Ni-PGE enriched magmatic sulphide
accumulations along basal contacts or within a feeder zone remains
a unique and prospective exploration target at Duke Island, due to
the intrusion's high sulphide content, the magmatic or net-textured
nature of the sulphide mineralization and nickel depletion of some
of the intrusion's silicate mineral phases. However, the 2010
drilling has demonstrated that such a target, if it exists, is
geophysically masked by overlying zones of conductive
pyrrhotite-graphite mineralization. Further study is required to
determine if other exploration tools might be applied to direct
future drill programs. The Company will evaluate the drill results
and its revised interpretation of its geological model before
determining its future course of action with regard to the
Property.
Project Details - Cu-Ni-PGE sulphide mineralization within the
Duke Island Alaska-type zoned ultramafic intrusion in the Alexander
Platinum Belt was discovered by Quaterra in 2001. The occurrence is
unique due to the high percentage of disseminated and net-textured
to massive sulfide mineralization that occurs within certain phases
of the ultramafic intrusions. While pyrrhotite is the dominant
sulfide, chalcopyrite and minor pentlandite are observed to occur
preferentially in a marginal clinopyroxenite phase of the
intrusion. 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. Five of six historical core holes drilled at the South
Rim of the Marquis prospect intercepted from 6 m to 90 m of
semi-massive to massive sulfide containing 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.
The 2010 drill holes targeted massive to semi-massive Cu-Ni-PGE
sulphide mineralization along the basal contact or within the
feeder of the Marquis Zone, where the highest grades of sulphide
mineralization were inferred to occur. The drill targets were
defined by interpretations based on geological mapping, the results
of historical drilling 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 depths required to test these
targets.
DK10-08, the first hole of the program, was drilled vertically
to test the South Rim anomaly at depth. The hole collared in
pyroxenite and transitioned into a gabbro at 204 m. The hole
remained in variably serpentinized gabbro until a final depth of
467 m. Up to several percent disseminated to net textured
pyrrhotite with trace to locally one to three percent chalcopyrite
occurred throughout the pyroxenite interval. The best intervals of
copper mineralization were from 124.4 m to 137.8 m which returned
1,476 ppm copper and 392 ppm nickel over 13.4 m and from 170.4 m to
175.3 m which returned 2,937 ppm copper and 751 ppm nickel over
4.9m. From 1% to 15% pyrrhotite was encountered in the gabbro from
302 m to 350 m. Assimilated sedimentary country rock with local
graphite also occurred within this interval. The pyrrhotite
mineralization with graphite could be the cause of the conductor
that had been interpreted as possible massive sulphides along the
basal contact of the South Rim of the Marquis zone.
Hole DK10-09, drilled at an angle of - 80 degrees and DK10-10,
drilled at an angle of - 45 degrees were collared from the same
site to test the strong EM conductor identified under cover at the
North Rim of the Marquis zone. Both holes collared in gabbro and
remained in gabbro until lengths of 380 m and 153 m respectively.
Hole DK10-09 intersected from 1% to 15% net textured to
semi-massive pyrrhotite and locally from trace to 10% graphite
associated with assimilated sedimentary rock from 64 to 124 m. Hole
DK10-10 intersected similar pyrrhotite with graphite and
assimilated sediments from 10 to 108 m. Trace to 1% chalcopyrite
was observed in both holes, but no significant copper or nickel
assays were returned from either hole. The strong EM conductor
under the North Rim of the Marquis zone is likely explained by the
presence of pyrrhotite and graphite related to sedimentary rocks
within the gabbro.
Holes DK10-11 and DK10-12 were drilled to test EM conductors and
prospective stratigraphy at other areas of the Marquis zone.
DK10-11 intersected the prospective pyroxenite horizon from the
collar to 150m and then remained in gabbro until a final depth of
387 m. DK10-12 intersected gabbro from the collar to a final length
of 225 m. While both holes intersected significant amounts of
pyrrhotite in the gabbro, no significant copper or nickel
mineralization was returned from either hole.
Mr. J. Greg Dawson, P.Geo.,
President of 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 committed to exploring in areas of high grade
mineral potential with focus on a copper/nickel/platinum project on
Duke Island in Alaska and a
lead/zinc/silver massive sulphide deposit at Clear Lake in central Yukon. By exploring quality projects in
mining-friendly jurisdictions, Copper Ridge is increasing the
chance for discovery to maximize shareholder value.
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.
Copyright . 10 PR Newswire