High Ridge Encounters Anomalous Copper, Lead, and Zinc Intersections in the Early Stage Drilling at the Chanape Project
October 28 2008 - 11:55AM
Marketwired Canada
High Ridge Resources Inc. ("High Ridge") (TSX VENTURE:HRR)(FRANKFURT:HR2) is
pleased to announce that it has completed a 12 hole, 2,352.50 meter drill
program testing targets on the company's Chanape project in the San Mateo area,
Peru. Significant sulphide mineralization was intersected, returning anomalous
copper (up to greater than 1.00%), lead (up to 1.69%), and zinc (up to 16.50%)
values.
The drill core reveals mineralization accompanied by highly anomalous
concentrations of arsenic (commonly greater than 10,000 parts per million -
ppm), bismuth (up to 0.49%), antimony (up to 0.76%), tungsten (up to 0.89%) and
manganese (up to 1.36%), and elevated gold (up to 12.4 ppm gold) and silver (up
to 177 ppm). The mineralization is associated with fine- to coarse-crystalline
arsenopyrite in quartz veins and with tourmaline in matrix and clasts of
hydrothermal breccias.
The diamond drill-hole intersects confirm a mineralized system to at least 200
meters depth and strike length in excess of 1,000 meters that remains open at
depth, and along strike and width. The anomalous copper-gold and
lead-zinc-silver mineralization appears to be consistent with the regional
zoning pattern typically associated with larger porphyry systems.
Gary Anderson, the president and CEO of High Ridge, commented: "We are extremely
pleased that our drilling has successfully confirmed the existence of widespread
mineralization at Chanape. This mineralization could indicate that a large
porphyry copper system is present in the area making it a high priority target
for the company. Based on these early indications management has advanced stage
drilling plans already in place and permits are being secured for an extended,
second phase drill program on Chanape."
The twelve diamond drill holes served to test auxiliary mineralized and
geophysical anomalies (see High Ridge's news release July 3, 2008) in volcanic
and intrusive rocks along the eastern side of the Chanape valley. Only the drill
core showing visual evidence of the mineralization and/or alteration has been
assayed. Results have been received from the first ten holes that were drilled
from 4 platforms and totalling 1,771.55 meters.
Drill holes Ch-002, Ch-003, and Ch-004 were confined to a single pipe of
mineralized breccia and yielded intervals of up to 0.47%, greater than 1.00%,
and 0.63% copper, and up to 11.3 ppm, 10.55 ppm, and 11.95 ppm gold,
respectively. In addition, the drilled breccia contained intervals of anomalous
zinc (up to 0.25%), antimony (up to 0.12%), and tungsten (up to 0.75%).
Two holes at Chanape, Ch-005 and Ch-006 yielded anomalous lead of up to 1.57%
and 0.87 % respectively, and zinc, up to 1.8% and 1.67%, respectively. In these
holes, the mineralization was associated with intervals of high arsenic up to
0.78% and greater than 1.0%, respectively, and manganese up to 0.58% and 1.36%,
respectively. In addition, elevated silver values up to 91.1 ppm in Ch-005 and
50.8 ppm in Ch-006 were present.
Two more holes, Ch-009 and Ch-010 holes intersected broad zones of anomalous
lead up to 1.69% and 0.27%, respectively, and zinc up to 16.50% and 0.83%,
respectively. The Ch-009 hole had corresponding anomalous gold up to 9.46 ppm,
silver up to 80.5 ppm, and antimony up to 0.7%. In both holes, the
mineralization was associated with intervals of locally high arsenic up to
greater than 1.0% and manganese up to 0.47% and 0.64%, respectively.
In Chanape hole Ch-008, intervals with elevated lead (up to 275 ppm), zinc (up
to 575 ppm), and manganese (up to 0.42%) were encountered.
Assays for holes Ch-011 and Ch-012 will be reported along with results from the
remaining drill core as they become available.
Quality Control and Assurance
The logged Chanape core was split in half during the sampling process with the
remaining half being retained for verification and reference in a secure
facility on the project site. Core sampling was done on site by trained
personnel. Sealed samples were transported to ALSChemex's facilities in Lima,
Peru by the High Ridge geologists. Samples underwent 33 element ME-ICP(61)
analysis and were assayed for gold by standard fire assay-AAS(23) finish. For
quality control purposes duplicates, standards and blanks were inserted into the
sample sequence.
Z. Adam Szybinski, Ph.D. (Geology), High Ridge Vice-President of Exploration, is
the "qualified person" responsible for the contents 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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