High Ridge Drills the Chanape Property and Expands 3D Induced Polarization Survey in the San Mateo Area, Peru
July 03 2008 - 1:16PM
Marketwired Canada
High Ridge Resources Inc. ("High Ridge" or the"Company") (TSX
VENTURE:HRR)(FRANKFURT:HR2) is pleased to advise that their initial stage
drilling program on the Chanape project, near San Mateo, 95 kilometers east of
Lima, Peru, is advancing well. The Company has finished drilling of one of the
numerous exposed on surface mineralized and gold-bearing hydrothermal breccia
chimneys within a larger diorite-monzonite body. Presently, the drill rig is
being moved to the next platform where it is going to test the 1.5 km long
Fulvia vein and the associated body of mineralized, polymetallic breccia.
The area covered by the current phase of the drilling program is about four
square kilometres and it is expected that will involve 3,000-5,000 metres from
up to 9 platforms, and will take of up to 8 weeks to complete. This initial
stage of the drilling program will also test other breccia bodies, as well as
polymetallic veins and larger targets identified previously by 3D induced
polarization survey (High Ridge news release March 25, 2008).
High Ridge has also begun the second stage of a 3D induced polarization and
magnetic surveys on the Chanape project. Both surveys are being performed by
Jose Arce Geofisicos S.R.L., a Peruvian company.
Previously, a combination of IP and magnetic surveys and the geological
information has delineated on Chanape several high priority drilling targets,
with a range of extensions at depth (High Ridge news release March 25, 2008).
The anomalies, as well as surface mineralization, remain open in all directions
and suggest a potential for new discoveries on this property. Based upon
compelling results to date, the Company decided to expand the survey to further
follow the low resistivity/high-chargeability anomalies and investigate
mineralized targets.
A permit for drilling of an area adjacent to Company's Chanape project is in
progress. An application for drilling of the Rosicler-El Domo project is under
way and preparations for additional IP and magnetic surveys are in progress on
other concessions in the area.
Z. Adam Szybinski, High Ridge Vice-President of Exploration, is the qualified
person responsible for the content of this news release.
About High Ridge Resources Inc.:
High Ridge is focused on large scale exploration projects in British Columbia
and Peru. In addition to the Peruvian gold and polymetallic projects, High Ridge
has three advanced exploration projects in British Columbia. These properties
include the Chuchi property (Cu-Au porphyry), 30 km northwest of Terrane's Mt.
Milligan project; Newton Mountain (Au-Cu porphyry), 35 km north of Taseko Mine's
Prosperity project - formerly Fish Lake (Au-Cu porphyry); and the Silver Bay
(Ag, Pb, Zn, and Cu porphyry) project, 10 km south of Cominco's former Bluebell
mine.
Forward Looking Statements: The above contains forward looking statements that
are subject to a number of known and unknown risks, uncertainties and other
factors that may cause actual results to differ materially from those
anticipated in our forward looking statements. Factors that could cause such
differences include: changes in world commodity markets, equity markets, costs
and supply of materials relevant to the mining industry, change in government
and changes to regulations affecting the mining industry. Forward-looking
statements in this release include statements regarding future exploration
programs, operation plans, geological interpretations, mineral tenure issues and
mineral recovery processes. Although we believe the expectations reflected in
our forward looking statements are reasonable, results may vary, and we cannot
guarantee future results, levels of activity, performance or achievements.
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