Kliyul

  • Target

    Located in the prolific Quesnel Trough, approximately 50 km southest of the Kemess mine, the Kliyul copper-gold project is over 60 square kilometres in size and is in a similar geological environment to other copper-gold porphyry deposits in BC such as Kemess (Centrra), Mt. Milligan (Centerra), Red Chris (Newcrest), and Saddle North (Newmont). 

    Geological Setting

    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.

    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.

    Project Highlights

    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 6 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 copper-gold system. Drill highlights are shown in the table below.

    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

    The Company completed 7014.7 m of drilling in 12 holes, the largest ever drill program at Kliyul, and successfully expanded the known Kliyul porphyry copper-gold footprint. In addition to the drill program, Pacific Ridge advanced several other interpreted porphyry centres that occur along an under-explored 4 km long northwest-trending corridor of quartz-sericite-pyrite (phyllic) alteration. The Company completed a 27 line-kilometre Induced Polarization (IP) survey at 200 m spacing across the Ginger zone, Parish Hill/Bap Ridge zone, and M-39 zone (see Figure 7). Pacific Ridge also conducted a mapping and rock geochemical sampling program over the same areas. The Company plans to drill-test several of these targets in 2023.

    2022 Drilling Summary

    All 12 drill holes encountered porphyry copper-gold style mineralization consisting of sulphide minerals pyrite, chalcopyrite and lesser bornite (see Figure 2), in early-to transitional-stage veins and as disseminations within a kilometre-plus scale Late Triassic/Early Jurassic paleo-hydrothermal system centered on a multi-stage diorite porphyry intrusive dyke/plug complex. Step-out drilling to the south, west, east, and north of the Kliyul Main Zone (“KMZ”) successfully expanded the known Kliyul porphyry copper-gold footprint and related hydrothermal system to approximately 1,400 m east-west by 400 m north-south, following the east-northeast trending Valley Fault, and obliquely crossing Valley Fault to the north.

    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. 

     

  • November 15, 2022
    Kliyul Presentation - November 2022

    June 24, 2020
    NI 43-101 Technical Report

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