VANCOUVER, BC, May 22, 2024
/PRNewswire/ - Prospect Ridge Resources Corp. (the
"Company" or "Prospect Ridge") (CSE: PRR) (OTC:
PRRSF) (FRA: OED) is pleased to announce many new discoveries on
the Holy Grail property. High-grade samples were obtained just west
of our Knauss Creek property in the vicinity of the Copper Ridge
zone and Leon's Legacy showings. Other high-grade results on the
western limb of the property are located on Mount Garland and the
Wesach mountain. The fully owned Holy Grail property, starts
approximately 10 km north of Terrace,
British Columbia.
The last few days of the 2023 prospecting program gave us a
surprise when the field team decided to step out of Copper Ridge
and go on the Holy Grail property side. This led to the discovery
of two new showings named Golden
Bowl and Temple located approximately 1.5 km to the west and
2.5 km to the northwest respectively. On the western limb of the
property, the summer of 2023 results are outlining two clusters of
samples returned high-grade results, one on Mount Garland and one
on the Wesach mountain (Figure 1).
Highlights from outcrop samples:
Golden Bowl
- 9.99 g/t Au, 183 g/t Ag, 1.81% Cu, 7.4% Pb and 0.17% Zn
(W500082)
- 8.35 g/t Au, 63 g/t Ag, 0.44% Cu, 3.5% Pb and 0.35% Zn
(W386369)
Temple
- 8.16 g/t Au, 137 g/t Ag and 14.8% Cu (W500697)
- 0.18 g/t Au, 94 g/t Ag and 4.6% Cu (W500698)
- 0.08 g/t Au, 22 g/t Ag and 5.9% Cu (W500696)
Mount Garland
- 7.9% Cu, 634 g/t Ag and 0.7% Zn (W387642, erratic block)
- 5.1% Cu, 0.11 g/t Au, 14 g/t Ag and (W489403)
- 2.2% Cu and 98 g/t Ag (W489406)
- 2.1% Cu, 61 g/t Ag and 0.23% Zn (W489408)
Wesach mountain
- 5.43 g/t Au, 9 g/t Ag, 0.22% Pb and 0.47% Zn (W501823)
- 1.13 g/t Au, 102 g/t Ag, 3.27% Pb and 2.57% Zn (W502285)
Prospect Ridge CEO Michael
Iverson commented, "I'm thrilled with these new discoveries.
Our exploration efforts have unveiled remarkable finds throughout
the 2023 summer underscoring the richness of our land package and
the skills of our field team. These new showings on the Holy Grail
are confirming the extraordinary geological potential in the
Terrace area south of the Golden
Triangle."
Prospect Ridge President Yan
Ducharme added, "The Golden Bowl and Temple new discoveries
are adding pieces to the puzzle connecting previously discovered
Copper Ridge and Leon's Legacy. These polymetallic veins stand as a
testament to the barely tapped potential of this underexplored land
package, hinting numerous future discoveries to be unearthed. All
the mountains of the western reaches of the Holy grail have
delivered high-grade showings often within a cluster of lower grade
rocks. Summer 2024 will see us initiate the first drill holes on
the Copper Ridge zone and we will pick up prospection where we left
off."
Eastern part of Holy Grail
Prospection approximately 1.5 km west of the Copper Ridge zone,
in a topographic bowl, led to the discovery of a quartz vein
containing 9.99 g/t Au, 183 g/t Ag, 1.81% Cu, 7.44% Pb and 0.17% Zn
(W500082). Forty meters from it, another vein with 8.35 g/t Au, 63
g/t Ag, 0.44% Cu, 3.5% Pb and 0.35% Zn (W386369) was sampled. More
mineralized veins were sampled at the bottom of the bowl, while two
erratic blocks and a vein were sampled on the flank of it. The
veins of this Golden Bowl showing
are hosted in an intrusion.
Approximately 2.5 km northwest of the Copper Ridge zone and 1 km
south of the Leon's Legacy, 8.16 g/t Au, 137 g/t Ag and 14.8% Cu
(W500697) was obtained on a quartz vein. Within 50 meters, two
other samples gave 0.08 g/t Au, 22 g/t Ag and 5.92% Cu (W500696)
and 0.18 g/t Au, 94 g/t Ag and 4.55% Cu (W500698). More mineralized
samples were taken in the vicinity and are part of the Temple
showing.
Western part of Holy Grail
The northern flank of Mount Garland is easily accessible by
logging roads. The prospecting works led to the sampling of many
quartz veins with chalcopyrite and malachite which contains mainly
copper and silver, but also occasional gold and zinc occurrences.
The best results were obtained from an erratic block, taken on a
talus, which yield 7.91% Cu and 634 g/t Ag (W387642). Other in situ
veins were sampled and gave 5.07% Cu, 0.11 g/t Au, 14 g/t Ag
(W489403), 2.20% Cu, 98 g/t Ag (W489406) and 2.09% Cu, 61 g/t Ag
(W489408). These samples are part of a cluster covering an area of
3.5 km by 1.5 km of mineralized veins and blocks. The alpine part
of Mount Garland has not been prospected yet.
Prospecting on the southern side of the Wesach mountain, uphill
of the Wesach Creek, led to the discovery of many quartz veins
bearing gold, silver, lead and zinc. Sample W501823 contains 5.43
g/t Au, 8.5 g/t Ag, 0.22% Pb and 0.47% Zn and sample W502285
contains 1.13 g/t Au, 102 g/t Ag, 3.27% Pb and 2.57% Zn. A
cluster of mineralized samples covers an area of 400 m by 400 m.
Some sampled erratic blocks returned copper, gold and silver
values. The source has yet to be found.
Sample
|
Easting1
|
Northing1
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(%)
|
Pb
(%)
|
Zn
(%)
|
AuEq g/t2
|
Golden
Bowl
|
W386366
|
537645
|
6070688
|
0.526
|
23.8
|
0.686
|
0.008
|
0.002
|
1.784
|
W386368
|
537655
|
6070699
|
0.089
|
5.1
|
0.336
|
0.001
|
0.003
|
0.626
|
W386369
|
537643
|
6070822
|
8.350
|
63.2
|
0.438
|
3.500
|
0.345
|
11.100
|
W4894713
|
537202
|
6070540
|
0.704
|
2.3
|
0.004
|
0.146
|
0.029
|
0.800
|
W4894723
|
537273
|
6070565
|
0.018
|
5.1
|
0.385
|
0.001
|
0.007
|
0.625
|
W489473
|
537274
|
6070607
|
1.130
|
0.8
|
0.016
|
0.147
|
0.005
|
1.216
|
W497153
|
537570
|
6070674
|
1.940
|
1.6
|
0.002
|
0.001
|
0.005
|
1.964
|
W500081
|
537650
|
6070693
|
0.022
|
7.5
|
0.421
|
0.000
|
0.005
|
0.708
|
W500082
|
537628
|
6070782
|
9.990
|
183
|
1.810
|
7.440
|
0.173
|
17.442
|
Temple
|
W489476
|
536364
|
6072676
|
0.026
|
2.2
|
0.107
|
0.000
|
0.006
|
0.206
|
W4894773
|
536329
|
6072483
|
0.346
|
3.4
|
0.413
|
0.000
|
0.001
|
0.970
|
W500695
|
536538
|
6072489
|
0.247
|
13.7
|
0.753
|
0.001
|
0.011
|
1.479
|
W500696
|
536549
|
6072472
|
0.080
|
22
|
5.920
|
0.001
|
0.008
|
8.693
|
W500697
|
536549
|
6072470
|
8.160
|
137
|
14.800
|
0.010
|
0.008
|
30.682
|
W500698
|
536586
|
6072438
|
0.180
|
94.1
|
4.550
|
0.002
|
0.008
|
7.734
|
Golden Bowl and
Temple area
|
W386365
|
536699
|
6071100
|
0.336
|
5.3
|
0.013
|
0.002
|
0.000
|
0.419
|
W489470
|
536759
|
6071107
|
0.696
|
7.4
|
0.001
|
0.004
|
0.000
|
0.788
|
W496077
|
535736
|
6073154
|
0.002
|
0.3
|
0.070
|
0.000
|
0.008
|
0.107
|
W496079
|
536149
|
6073403
|
0.037
|
1.7
|
0.158
|
0.000
|
0.007
|
0.283
|
W500651
|
536677
|
6071905
|
0.002
|
1.9
|
0.031
|
0.120
|
0.008
|
0.114
|
W500652
|
536663
|
6071893
|
0.258
|
45.1
|
0.005
|
1.520
|
0.002
|
1.347
|
W500657
|
536574
|
6071821
|
0.016
|
6.8
|
0.057
|
0.026
|
0.000
|
0.188
|
W500658
|
536661
|
6071839
|
0.089
|
17.1
|
0.021
|
0.008
|
0.003
|
0.329
|
Mount
Garland
|
W3876423
|
520095
|
6066782
|
0.037
|
634
|
7.910
|
0.083
|
0.703
|
19.153
|
W387643
|
520155
|
6066561
|
0.008
|
4.3
|
0.079
|
0.002
|
0.008
|
0.175
|
W3876443
|
520004
|
6066702
|
0.027
|
3.4
|
0.140
|
0.000
|
0.007
|
0.268
|
W387645
|
520050
|
6066573
|
0.002
|
1.6
|
0.079
|
0.000
|
0.007
|
0.135
|
W489394
|
521080
|
6067474
|
0.002
|
3.4
|
0.091
|
0.000
|
0.001
|
0.172
|
W4893953
|
521268
|
6066970
|
0.002
|
4.7
|
0.182
|
0.001
|
0.015
|
0.322
|
W4893963
|
521266
|
6066972
|
0.017
|
0.8
|
0.067
|
0.000
|
0.002
|
0.122
|
W489397
|
520566
|
6067623
|
0.087
|
13
|
1.140
|
0.000
|
0.007
|
1.854
|
W489398
|
520557
|
6067625
|
0.073
|
5.8
|
0.294
|
0.000
|
0.002
|
0.558
|
W489399
|
521361
|
6066538
|
0.013
|
4.2
|
0.117
|
0.001
|
0.007
|
0.232
|
W489400
|
521390
|
6066436
|
0.009
|
14.6
|
0.673
|
0.000
|
0.002
|
1.135
|
W4894023
|
521647
|
6066024
|
0.025
|
3.7
|
0.196
|
0.000
|
0.007
|
0.349
|
W489403
|
521717
|
6065912
|
0.112
|
13.9
|
5.070
|
0.000
|
0.011
|
7.430
|
W489405
|
522375
|
6067175
|
0.002
|
4.3
|
0.055
|
0.011
|
0.015
|
0.141
|
W489406
|
522612
|
6066938
|
0.011
|
98.4
|
2.200
|
0.035
|
0.053
|
4.334
|
W489407
|
522667
|
6066898
|
0.005
|
40
|
0.305
|
0.013
|
0.303
|
1.042
|
W489408
|
522725
|
6066802
|
0.035
|
60.6
|
2.090
|
0.051
|
0.232
|
3.822
|
W496060
|
520312
|
6067914
|
0.006
|
2.3
|
0.134
|
0.000
|
0.003
|
0.224
|
W496061
|
520318
|
6067908
|
0.002
|
8.6
|
0.191
|
0.000
|
0.002
|
0.376
|
W496064
|
519201
|
6067566
|
0.108
|
2.7
|
0.124
|
0.000
|
0.002
|
0.316
|
W5000533
|
522163
|
6067074
|
0.008
|
55.1
|
0.011
|
0.032
|
0.010
|
0.705
|
W500055
|
520461
|
6067513
|
0.026
|
5.3
|
0.004
|
0.021
|
0.012
|
0.108
|
W500635
|
520166
|
6067722
|
0.002
|
31.1
|
0.358
|
0.019
|
0.052
|
0.910
|
W5022773
|
521175
|
6066358
|
0.002
|
7.8
|
0.001
|
0.009
|
0.000
|
0.101
|
W502278
|
521097
|
6066216
|
0.002
|
1.8
|
0.105
|
0.001
|
0.009
|
0.176
|
W5022793
|
521088
|
6066208
|
0.002
|
2.3
|
0.135
|
0.001
|
0.010
|
0.224
|
W5022813
|
521040
|
6066269
|
0.005
|
4.5
|
0.320
|
0.000
|
0.006
|
0.513
|
W502283
|
521121
|
6066020
|
0.006
|
4.3
|
0.334
|
0.005
|
0.005
|
0.532
|
W502284
|
521110
|
6065993
|
0.006
|
2.0
|
0.076
|
0.003
|
0.002
|
0.139
|
Wesach
mountain
|
W3847943
|
519537
|
6076197
|
0.009
|
4.8
|
0.254
|
0.002
|
0.002
|
0.427
|
W387610
|
519186
|
6076179
|
0.008
|
9.6
|
0.002
|
0.602
|
0.208
|
0.420
|
W387611
|
519185
|
6076186
|
0.043
|
14.1
|
0.002
|
0.573
|
0.145
|
0.475
|
W387613
|
519182
|
6076193
|
0.031
|
20
|
0.003
|
1.155
|
0.375
|
0.831
|
W387614
|
519253
|
6076226
|
0.360
|
36.5
|
0.033
|
1.760
|
0.478
|
1.655
|
W387615
|
519260
|
6076230
|
0.169
|
69.7
|
0.007
|
4.380
|
0.998
|
2.955
|
W387617
|
518206
|
6075523
|
0.622
|
2.9
|
0.011
|
0.115
|
0.147
|
0.771
|
W489359
|
519204
|
6076204
|
0.011
|
4.2
|
0.005
|
0.202
|
1.210
|
0.614
|
W489360
|
519186
|
6076204
|
0.073
|
19.6
|
0.003
|
1.150
|
0.568
|
0.942
|
W4894093
|
518304
|
6075043
|
0.107
|
10.8
|
0.291
|
0.001
|
0.020
|
0.656
|
W4894113
|
519368
|
6075852
|
0.481
|
48.6
|
0.289
|
1.970
|
0.061
|
2.194
|
W5006073
|
519194
|
6076234
|
0.079
|
1.8
|
0.261
|
0.002
|
0.005
|
0.471
|
W501809
|
519180
|
6075923
|
0.040
|
7.4
|
0.001
|
0.426
|
0.080
|
0.312
|
W501823
|
518209
|
6075519
|
5.430
|
8.5
|
0.014
|
0.223
|
0.465
|
5.813
|
W502285
|
519190
|
6075944
|
1.130
|
102
|
0.009
|
3.270
|
2.570
|
4.534
|
W502287
|
519249
|
6075965
|
0.088
|
0.5
|
0.017
|
0.003
|
0.010
|
0.123
|
W502288
|
519238
|
6075961
|
0.028
|
1.2
|
0.020
|
0.027
|
0.064
|
0.105
|
W502289
|
519300
|
6075960
|
0.019
|
5.0
|
0.003
|
0.351
|
0.006
|
0.210
|
W502292
|
519217
|
6075941
|
1.860
|
1.0
|
0.071
|
0.000
|
0.005
|
1.974
|
W5022933
|
519270
|
6075964
|
0.052
|
4.5
|
0.004
|
0.247
|
0.262
|
0.302
|
W502294
|
519283
|
6075967
|
0.019
|
6.8
|
0.025
|
0.413
|
0.259
|
0.383
|
Table 1: Best Results from the Holy Grail surface
sampling of summer 2023.
1: Coordinates in
meters UTM Nad83 Zone 9N
|
2: Gold equivalents
were calculated with a gold price of $1,750/oz, silver at $21/oz,
copper at $3.60/lbs, lead at $0.90/lbs and zinc at
$1.00/lbs.
|
3: Erratic
block.
|
Cautionary statements
Outcrop samples are selective by nature and grades may not be
representative of mineralized zones. True thickness or
mineralization style and geological models cannot be determined
with the information currently available.
Quality control
Rock samples were assayed for gold by standard 50 g
fire-assaying with atomic absorption finish (Au-AA24) or
gravimetric finish (Au-GRA22) or 1000g metallic screening
(Au-SCR24) at ALS Canada in
Terrace, British Columbia. The
samples were also assayed for 35 metals from an aqua regia
digestion with ICP-AES finish (ME-ICP41). For samples with
overlimit results in silver, copper, lead and zinc, aqua regia with
ICP finish was used (OG46 ore grade). A quality assurance/quality
control program has been implemented and consists of inserting
standards on a regular basis in the samples stream.
Qualified Person
All scientific or technical information included in this news
release has been reviewed, verified and approved by Yan Ducharme, P.Geo., President of the Company
and a qualified person as defined by National Instrument 43-101.
This news release was written by Yan
Ducharme.
About the Holy Grail property
The fully owned Holy Grail starts approximately 10 kilometres
north of the town of Terrace in
the Province of British Columbia,
Canada. It is easily accessible by the Transcanadian
highway, the Nisga'a highway and a network of logging roads. It
covers about 700 square kilometres and is contiguous to our fully
owned Knauss Creek property.
Several gold, silver, copper, lead and zinc occurrences were
discovered in the past. Almost all the creeks draining the property
were exploited at some point and alluvial gold was recovered.
During the 2023 field season, the Company continued exploring
this huge land package which contains many showings of
interest.
The southern tip of the Golden Triangle is located immediately
northwest of the PRR properties. The Bowser Lake and the Hazelton
Groups hosting most of the deposits and mines of this area are also
underlying the Knauss Creek and Holy Grail properties.
About Prospect Ridge Resources Corp.
Prospect Ridge Resources Corp. is a British Columbia based exploration and
development company focused on gold, silver and copper exploration.
Prospect Ridge's management and technical team cumulate over 100
years of mineral exploration experience and believes the Knauss
Creek and the Holy Grail properties, near the town of Terrace BC, to have the potential to extend
the boundaries of the Golden Triangle to cover this vast
under-explored region.
Neither the Canadian Securities Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
Canadian Securities Exchange) accepts responsibility for the
adequacy or accuracy of this release.
This release includes certain statements and information that
may constitute forward-looking information within the meaning of
applicable Canadian securities laws. Forward-looking statements
relate to future events or future performance and reflect the
expectations or beliefs of management of the Company regarding
future events. Generally, forward-looking statements and
information can be identified by the use of forward-looking
terminology such as "intends" or
"anticipates", or variations of such words and
phrases or statements that certain actions, events or results
"may", "could",
"should", "would" or
"occur". This information and these
statements, referred to herein as "forward-looking statements", are
not historical facts, are made as of the date of this news release
and include without limitation, statements regarding discussions of
future plans, estimates and forecasts and statements as to
management's expectations and intentions with respect to, among
other things, positive exploration results at the Knauss Creek and
Holy Grail projects and the Company's use of proceeds from the
Private Placement. These forward-looking statements involve
numerous risks and uncertainties and actual results might differ
materially from results suggested in any forward-looking
statements. These risks and uncertainties include, among other
things, that future exploration results at the Knauss Creek and
Holy Grail projects will not be as anticipated and that
the Company will use the proceeds from the Private Placement as
anticipated.
In making the forward-looking statements in this news
release, the Company has applied several material assumptions,
including without limitation, that future exploration results at
the Knauss Creek and Holy Grail projects will be as anticipated and
that the Company will use the proceeds from the Private Placement
as anticipated.
Although management of the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements or
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements and
forward-looking information. Readers are cautioned that reliance on
such information may not be appropriate for other purposes. The
Company does not undertake to update any forward-looking statement,
forward-looking information or financial out-look that are
incorporated by reference herein, except in accordance with
applicable securities laws. We seek safe harbor.
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SOURCE Prospect Ridge Resources Corp.