The Kliyul copper-gold project is located in the prolific Quesnel Trough, between Kemess and Mt. Milligan (Centerra Gold Inc.), in a similar geological environment to other copper-gold porphyry deposits in BC such as Kemess, Mt. Milligan, Red Chris and Newmont`s Saddle North.
Over 60 km2 in size, Kliyul is a copper-gold porphyry project located 50 km southeast of the Kemess mine and close to exiting infrastructure. Kliyul hosts five porphyry targets: Kliyul Main Zone ("KMZ"), Bap Ridge, Ginger, M39, and Paprika. Each target represents an interpreted porphyry centre over an underexplored 4 km long mineralized trend.
The KMZ is the most intensely explored area, with 33 drill holes (5,524 m) drilled prior to Pacific Ridge's 2021 drill program, most of which targeted a near-surface Cu-Au magnetite skarn zone. Deeper drilling in 2006 and 2015 encountered a porphyry gold-copper system. Drill highlights are shown in the table below:
Kliyul is a 6,000-ha advanced-stage copper-gold exploration project located 200 km northeast of Smithers, British Columbia, 50 km southeast of the Kemess mine and 5 km from the Omineca mining road and power line.
Kliyul 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. Kliyul 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.
The central part of Kliyul hosts a 6 km 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 KMZ 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 KMZ 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.
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.
2021 Drill Campaign
Pacific Ridge drilled a total of 1,544 m in three holes at Kliyul in 2021 and returned the results below:
Highlights of the 2021 Drill Campaign:
- Successfully extended mineralization at the Kliyul Main Zone (“KMZ”) to the west and to depth; mineralization at KMZ remains open to the west, south, southwest, southeast, northeast, and to depth.
- Every drill hole returned significant copper-gold mineralization, notably better than the copper-gold mineralization returned in historic drill holes.
- Encountered values up to 4.0% Cu and 5.8 g/t Au over select intervals, some of the highest-grade intercepts encountered in deep drilling at KMZ.
- The presence of bornite in KLI-21-036 and KLI-21-038 is encouraging as it commonly occurs in the core of porphyry systems and its presence can be used to vector towards the porphyry centre.
2022 Exploration Program
Pacific Ridge is planning to drill a minimum of 6,000 m at Kliyul in 2022 and anticipates that drilling will be underway by early July. The focus of the drill campaign will be expanding KMZ along strike and at depth. The Company also plans to test the Kliyul East and Kliyul West targets, which have never been drill tested. Both targets have high chargeability and moderate to high resistivity signatures, similar to KMZ. While the Kliyul West target is concealed under till cover, porphyry-style alteration and encouraging geochemical pathfinders are observed in outcrop at Kliyul East. In addition to drilling KMZ, Kliyul East and Kliyul West, an IP survey, possibly followed by drilling, is planned at Bap Ridge, one of five interpreted porphyry centres that occur along a 4 km mineralized trend (see Figure 6). Pacific Ridge is also planning an airborne magnetic survey to help delineate the structure, geology and alteration over this highly prospective trend.
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.
June 30, 2020Kliyul Presentation - December 2021
June 24, 2020NI 43-101 Technical Report