RDP

  • Target

    The target at RDP is a gold-copper porphyry deposit. The property is located in northern BC's Golden Horseshoe, host to numerous significant porphyry deposits including Red Chris, Saddle North, Kemess, Mt Milligan and Kwanika.

    Planned Exploration

    The Company is completing a comprehensive review of the historical exploration data from the RDP property in preparation for a surface exploration program – mapping, sampling and geophysical surveys – in the 2021 field season.

    Project Highlights

    RDP is a 2,100-ha exploration project located 200 km north of Smithers, 40 km west of the Company's Advanced stage Kliyul copper-gold porphyry project, and 20 km south of Northwest Copper's East Niv project, in a similar geological environment. The property contains three known porphyry target areas: Roy, Day and Porcupine.

    Trenching at the Roy showing in 1991 it encountered 0.121% Cu and 0.55 g/t Au over 62 m within an 80 m trench1. Only a single hole has been drilled at Roy, in 2011, and it encountered 0.11% Cu and 0.64 gpt Au over 122.95 m in hole EQ-0012.

    Since 1972, 19 shallow drill holes (2,472 m) have been drilled at the Day showing. Highlights from this drilling include 0.67% Cu and 0.93 gpt Au over 58.8 m in hole D-74-13 and 0.54% Cu and 0.75 gpt Au over 57 m in hole C-92-14.

    Project Summary

    The RDP property contains several porphyry copper-gold targets that have been explored intermittently since the early 1970's, including prospecting and mapping, various rock, soil and stream sediment geochemical surveys, ground and airborne geophysical surveys, trenching and minor drilling. The property is underlain by Hazelton Group volcanic and sedimentary rocks of the Stikine Terrane intruded by the lower Jurassic Roy plutonic suite including plugs, sills, and stocks of porphyritic dacite to monzodiorite composition, the Fir gabbro, and the Gyr rhyolite porphyry.

    Roy Prospect: Roy was discovered in 1973. During the 1980's  and 1990's several companies explored the property, including mapping and geochemical and geophysical surveys and trenching. The property is underlain by the Telkwa Formation, including purple tuff and porphyritic andesite which grades into a dacite feldspar porphyry and dacitic fragmental horizons. The feldspar porphyry is cut by fine grained andesite dykes 0 3 to 10 m in width. Alteration includes calcite, epidote, and chlorite. A large gossan is associated with zones of disseminated pyrite.

    Mineralization on the Roy showing consists of a quartz-magnetite-chalcopyrite stringer stockwork within a syenomonzonite to monzonite host. The syenomonzonite host is very strongly fractured with potassium feldspar alteration strongly developed along fracture planes.

    Re-sampling of historical trenches in 1991 encountered 0.121% Cu and 0.55 g/t Au over 62 m within an 80 m trench1. Only a single drill hole has been documented at Roy, in 2011, and it encountered 0.11% Cu and 0.64 gpt Au over 122.95 m in hole EQ-0012.

    Day Prospect: The Day prospect has been known since the late 1960's, about the time of the discovery of the nearby Sustut Cu deposit. From the early 1970's through the 1990's, it has been explored with mapping, geochemical sampling, ground and airborne geophysical surveys, trenching and drilling, including 19 shallow drill holes for 2,472 m, drilled between 1972 and 1992.

    Mineralization at the Day showing includes pyrite, magnetite, chalcopyrite, minor molybdenite, and traces of bornite, as disseminations and fracture fillings in diorite and adjacent altered volcaniclastic rocks. A Cu-Au soil anomaly over the zone extends for a strike length of 1,000 m, with a width of 250 m. The showing area is underlain by a magnetic high and limited IP shows anomalous chargeability associated with the mineralization.

    Highlights from drilling at Day include 0.67% Cu and 0.93 gpt Au over 58.8 m in hole D-74-13 and 0.54% Cu and 0.75 gpt Au over 57 m in hole C-92-13.

    Porcupine Prospect: Porcupine has been prospected as a stratabound massive sulphide target. Mineralization includes pyrite, pyrrhotite, sphalerite, and chalcopyrite with local lenses of magnetite hosted within dacitic to rhyolitic volcanics. Alteration includes intense silicification, weak chloritization and partial argillic alteration. Locally, cross-cutting quartz veins are found on the showing. It has been suggested that the alteration surrounding the Porcupine showing could be associated with a porphyry system.

    Terms

    Pacific Ridge has the option to earn a 100% interest in the RDP property by making payments of $125,000 ($5,000 on signing), issuing 1,200,000 shares (100,000 shares on signing) and completing $810,000 in exploration in stages by December 15, 2023. In addition, Pacific Ridge will issue 300,000 shares to the vendor on completion of 3,000 m of drilling and an additional 500,000 shares upon defining a 1,000,000 ounces of gold equivalent resource in the inferred category. The property is also subject to a 2% NSR payable to the vendor, half of which can be purchased at any time for $1.5 million. The agreement is subject to regulatory approval.

    1 Fox, M., 1991, B.C. Government Assessment Report No. 21359.
    2 Equitas Resources Corp. News Release – December 15, 2011
    3 Skeena Resources Ltd. News Release - July 28, 1992.

    May 2021

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