The Kliyul copper-gold project is located in the Quesnel Trough, between Kemess and Mt. Milligan (Centerra Gold), 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 an advanced-stage copper-gold 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 since 1974, 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:
Ref Hole From (m) To (m) Width (m) Cu (%) Au (gpt) CuEQ (%) AuEQ (gpt) A KL-5 10.8 68.3 57.5 0.32 0.99 1.13 1.38 B KL-6 30.1 78.9 48.8 0.31 1.33 1.40 1.71 C KL-7 20.0 71.0 51.0 0.17 1.19 1.14 1.40 D KL-93-4 46.0 102.0 56.0 0.34 0.89 1.07 1.31 E KL-93-5 16.0 76.0 60.0 0.26 1.34 1.35 1.66 F KL-06-30 22.0 239.8 217.8 0.23 0.52 0.65 0.80 G KL-06-31 346.0 378.0 32.0 0.21 0.62 0.72 0.88 KL-15-33 32.5 194.9 162.4 0.20 0.26 0.41 0.50 H KL-15-34 37.5 90.0 52.5 0.24 0.17 0.38 0.46 I KL-15-34 123.0 368.0 245.0 0.18 0.53 0.61 0.75 J KL-15-34 280.6 301.0 20.4 0.39 2.55 2.47 3.03 K KL-15-34 426.0 465.7 39.7 0.20 0.66 0.74 0.90 L KL-15-35 331.0 380.0 49.0 0.16 0.22 0.34 0.42 M KL-15-35 399.5 462.8 63.3 0.3 0.3 0.5 0.6 N KL-15-35 414.0 433.5 19.5 0.43 0.56 0.89 1.09 O KL-15-35 474.7 502.0 27.3 0.11 0.18 0.26 0.31
CuEQ = ((Cu(%) x CuP x 22.0642) + (Au(gpt) x AuP x 0.032151)) / (CuP x 22.0642)
AuEQ = ((Cu(%) x CuP x 22.0642) + (Au(gpt) x AuP x 0.032151)) / (AuP x 0.032515)
CuP = $2.80 AuP = $1,580
Kliyul is a 6,000-ha advanced-stage copper-gold exploration project located 200 km north 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.
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.
2021 Exploration Program
Pacific Ridge drilled a total of 1,544 m in three holes at Kliyul in 2021. Drill hole KLI-21-036, the first drill hole, returned 437.0 m of 0.61% CuEq or 0.96 g/t AuEq (see news release dated December 1, 2021). Assay results from the remaining two drill holes, KLI-21-037 and KLI-21-038, will be reported when available.
2022 Exploration Program
The Company is currently planning an expanded 2022 drill program at Kliyul.
June 30, 2020Kliyul Presentation - December 2021
June 24, 2020NI 43-101 Technical Report