Historical Highlights
- A gossanous fracture zone with abundant galena-pyrite-arsenopyrite vein as stockwork occurs over 65 meters wide by 175 meter long and remains open at both ends
- In 1996, assays returned 2.68 g/t gold over 35 cm
- In 2000, samples returned 1.29 grams per tonne gold, 222.0 grams per tonne silver, 8.10 per cent lead and 1.73 per cent zinc
- In 2002, assays returned 2.69 grams per tonne gold, 42.5 grams per tonne silver, 1.31 per cent lead and 2.71 per cent zinc
- Most recent assays taken from the zone in 2017 returned 28.4 g/t Au, 210 g/t Ag, 9.13% Pb, including 5 others that averaged 1.42 g/t Au (up to 3.65 g/t)
In 2021, prospecting and channel cutting was completed across the main Hugin zone. Initial sample results from channel cutting has produced assays of up to 3.49 grams per tonne gold over 0.73 meters, included in a larger channel that averaged 2.4 grams per tonne over 1.54 meters. Another channel sample returned 2.18 grams per tonne gold over 1.52 meters, including 3.3 grams per tonne over 0.8 meters. Channel cuts were taken across a 0.25 to 0.5-meter-wide massive arsenopyrite-scoridte-pyrite-galena vein with extensive wall rock mineralization including silicification with disseminated sulphide and arsenopyrite-pyrite-galena stock work. The gossanous zone is located at the contact between a quartz diorite and hornfelsed sediment of the
Sample | Au (ppm) | Length (m) | Line Au Average (ppm) | ||
D793788 | 0.015 | 0.72 | 2.18 over 1.52 m | ||
D793789 | 3.3 | 0.8 | |||
D793790 | 3.4 | 0.73 | 2.4 over 1.54 m | ||
D793791 | 0.326 | 0.81 | |||
D793793 | 2.5 | 0.91 | |||
D793796 | 0.357 | 1.02 |
Figure 1. Table of 2021 Channel Samples
https://www.globenewswire.com/NewsRoom/AttachmentNg/316096c5-3f8f-44f0-b22e-35af08769f93
Figure 1. Photos from
Based on these preliminary results, further work will be conducted on the Hugin zone consisting of Lidar, prospecting, channel and soil sampling in preparation for drilling. Work is already underway in digitizing all the historical records to aid in exploration. The property is well-accessible through a network of logging roads and close to primary infrastructure, allowing for cost-effective exploration and good feasibility.
https://www.globenewswire.com/NewsRoom/AttachmentNg/1735a33a-be7f-4b88-b941-251c03354499
Figure 2. Map of Hugin and Neighboring Zones
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All scientific or technical information included in this news release has been reviewed, verified and approved by
About Holy Grail
The Holy Grail Property is 10 kilometers outside of Terrace within 45 km from smelter and deep sea port; the property is easy-accessible bounded by two highways with CN rail, high tension power crossing the property and a network of logging roads over approximately 80% of the property which will make for a very cost-effective exploration and strong feasibility. Some of the key areas are located below tree line and can be worked nearly year-round.
The Holy Grail district sized package now contains over 80,000 hectares. The property was selected based on regional geological, structural, and geochemical resemblances that coincide with mineralization 50 km northwest in
About
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as “forward-looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, positive exploration results at the
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that future exploration results at the
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
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Contact InformationProspect Ridge Resources Corp. Michael Iverson , Chief Executive Officer Email: schen@redfernconsulting.ca Telephone: 778-788-4836
Figure 1.
![](https://ml.globenewswire.com/media/316096c5-3f8f-44f0-b22e-35af08769f93/medium/figure-1.png)
Photos from Hugin Zone
Figure 2.
![](https://ml.globenewswire.com/media/1735a33a-be7f-4b88-b941-251c03354499/medium/figure-2.jpg)
Map of Hugin and Neighboring Zones
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