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Vancouver, British Columbia, September 10,
2010- Copper Ridge Explorations Inc. (TSX.V:KRX) (the "Company") announces that it
has completed a five hole 1,537 m drill program at its Duke Island
copper-nickel-platinum-palladium (Cu-Ni-PGE) property in southeast Alaska
(the "Property"). The Company has the right to earn up to a 65% interest
in the Property from Quaterra Resources Inc.
(NYSE-A: QMM / TSX-V: QTA) ("Quaterra").
Summary - Best results from the program included .294% copper
and .075% nickel over 4.9m and .148% copper and .039% nickel over 13.4 m over
two separate intervals in hole DK10-08. Despite drilling to depths of up to
468 m, the targeted basal contact of the mineralized intrusion was not
encountered. The drilling determined that zoning within the ultramafic complex is more complex than anticipated and
that what had been thought to be the basal contact, as interpreted through
several geophysical techniques, was in fact rafts of
partially assimilated sedimentary rocks. The combination of high sulphide content and graphite related to the sediments
produced strong electromagnetic conductors.
The Company believes that Cu-Ni-PGE enriched magmatic sulphide
accumulations along basal contacts or within a feeder zone remains a unique
and prospective exploration target at Duke Island, due to the intrusion's
high sulphide content, the magmatic or net-textured
nature of the sulphide mineralization and nickel
depletion of some of the intrusion's silicate mineral phases. However, the
2010 drilling has demonstrated that such a target, if it exists, is geophysically masked by overlying zones of conductive pyrrhotite-graphite mineralization. Further study is
required to determine if other exploration tools might be applied to direct
future drill programs. The Company will evaluate the drill results and its
revised interpretation of its geological model before determining its future
course of action with regard to the Property.
Project Details - Cu-Ni-PGE sulphide
mineralization within the Duke Island Alaska-type zoned ultramafic
intrusion in the Alexander Platinum Belt was discovered by Quaterra in 2001. The occurrence is unique due to the
high percentage of disseminated and net-textured to massive sulfide
mineralization that occurs within certain phases of the ultramafic
intrusions. While pyrrhotite is the dominant
sulfide, chalcopyrite and minor pentlandite are
observed to occur preferentially in a marginal clinopyroxenite
phase of the intrusion. Outcrop samples have returned values from less than
10 ppm Cu to 2.8% Cu, from less than 10 ppm Ni to 0.25% Ni and from less than 5 ppb to over 1 ppm PGE from the South Rim of the Marquis prospect. Five
of six historical core holes drilled at the South Rim of the Marquis prospect
intercepted from 6 m to 90 m of semi-massive to massive sulfide containing
anomalous values for Cu (10 to 12,500 ppm), Ni (27
to 4,694 ppm), Pt (<5 to 680 ppb), and Pd (<5
to 548 ppb) and established a north dip to the upper contact of sulfide
mineralization.
The 2010 drill holes targeted massive to semi-massive Cu-Ni-PGE sulphide mineralization along the basal contact or within
the feeder of the Marquis Zone, where the highest grades of sulphide mineralization were inferred to occur. The drill
targets were defined by interpretations based on geological mapping, the
results of historical drilling and three-dimensional modeling of a variety of
geophysical surveys including magnetics, electromagnetics, induced polarization, magnetotellurics and gravity. The historical drilling did
not extend to the depths required to test these targets.
DK10-08, the first hole of the program, was drilled vertically
to test the South Rim anomaly at depth. The hole collared in pyroxenite and transitioned into a gabbro
at 204 m. The hole remained in variably serpentinized
gabbro until a final depth of 467 m. Up to several
percent disseminated to net textured pyrrhotite
with trace to locally one to three percent chalcopyrite occurred throughout
the pyroxenite interval. The best intervals of
copper mineralization were from 124.4 m to 137.8 m which returned 1,476 ppm copper and 392 ppm nickel
over 13.4 m and from 170.4 m to 175.3 m which returned 2,937 ppm copper and 751 ppm nickel
over 4.9m. From 1% to 15% pyrrhotite was
encountered in the gabbro from 302 m to 350 m.
Assimilated sedimentary country rock with local graphite also occurred within
this interval. The pyrrhotite mineralization with
graphite could be the cause of the conductor that had been interpreted as
possible massive sulphides along the basal contact
of the South Rim of the Marquis zone.
Hole DK10-09, drilled at an angle of -
80 degrees and DK10-10, drilled at an angle of - 45 degrees
were collared from the same site to test the strong EM conductor identified
under cover at the North Rim of the Marquis zone. Both holes collared in gabbro and remained in gabbro
until lengths of 380 m and 153 m respectively. Hole DK10-09 intersected from
1% to 15% net textured to semi-massive pyrrhotite
and locally from trace to 10% graphite associated with assimilated
sedimentary rock from 64 to 124 m. Hole DK10-10 intersected similar pyrrhotite with graphite and assimilated sediments from
10 to 108 m. Trace to 1% chalcopyrite was observed in both holes, but no
significant copper or nickel assays were returned from either hole. The
strong EM conductor under the North Rim of the Marquis zone is likely
explained by the presence of pyrrhotite and
graphite related to sedimentary rocks within the gabbro.
Holes DK10-11 and DK10-12 were drilled to test EM
conductors and prospective stratigraphy at other
areas of the Marquis zone. DK10-11 intersected the prospective pyroxenite horizon from the collar to 150m and then
remained in gabbro until a final depth of 387 m.
DK10-12 intersected gabbro from the collar to a
final length of 225 m. While both holes intersected significant amounts of pyrrhotite in the gabbro, no
significant copper or nickel mineralization was returned from either hole.
Mr. J. Greg Dawson, P.Geo., President of Copper Ridge, is the Qualified Person for
the Duke Island project and is responsible for the technical content of this
news release.
About Copper Ridge Explorations Inc.
Copper Ridge is committed to exploring in areas of high grade mineral
potential with focus on a copper/nickel/platinum project on Duke Island in
Alaska and a lead/zinc/silver massive sulphide
deposit at Clear Lake in central Yukon. By exploring quality projects in
mining-friendly jurisdictions, Copper Ridge is increasing the chance for
discovery to maximize shareholder value.
For additional information:
Copper Ridge Explorations Inc.
Investor Relations (604) 648-4653
No
stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein. This press release
contains projections and forward-looking information that involve various
risks and uncertainties regarding future events. Such forward-looking
information can include without limitation statements based on current
expectations involving a number of risks and uncertainties and are not
guarantees of future performance. There are numerous risks and uncertainties
that could cause actual results and Copper Ridge's plans and objectives to
differ materially from those expressed in the forward-looking information.
Actual results and future events could differ materially from those
anticipated in such information. These and all subsequent written and oral
forward-looking information are based on estimates and opinions of management
on the dates they are made and are expressly qualified in their entirety by
this notice. Except as required by law, Copper Ridge assumes no obligation to
update forward-looking information should circumstances or management's
estimates or opinions change.
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