VANCOUVER, June 7 /PRNewswire-FirstCall/ - Copper Ridge Explorations Inc. (TSX.V:KRX) (the "Company") is pleased to announce that it has been informed by REC Minerals Corp. (TSX.V: REC) ("REC") that drilling has commenced at the Company's Yukon Olympic Iron-Oxide-Copper-Gold ("IOCG") property, located in the Dawson Mining District, Yukon. REC currently holds an option to acquire up to a 65% interest in the 5,359 hectare property from Copper Ridge.
The target deposit type, Olympic Dam in Australia, is characterized geophysically by a large magnetic anomaly flanked by a gravity anomaly which is believed to reflect the iron-rich breccia body. The Yukon Olympic property occurs in a geological setting that is similar to Olympic Dam, in host rocks of similar age and with mineralization and alteration that is of a similar age and character. The drilling will test the Blackstone anomaly, a circular magnetic anomaly with a partially fringing gravity anomaly locally in excess of 2 milligals. The south-eastern portion of the gravity anomaly correlates with known, copper-bearing hematite (iron oxide) breccia in Spectacular Creek, while for the most part the source of the combined magnetic and gravity feature is hidden under younger cover rocks. The drilling will specifically target areas of high induced polarization chargeability that occur within the gravity anomaly. See www.copper-ridge.com for a more comprehensive property description.
REC's program at Yukon Olympic will consist of an initial four-hole 1,200 meter diamond drill test. Drilling is being carried out by Kluane Drilling Ltd. and the program is being supervised by Aurora Geosciences Ltd. Depending on the results of its initial 1,200 meter drill program, REC may drill two additional holes, for up to an additional 800 meters of drilling.
Mr. J. Greg Dawson, P.Geo., Vice President of Exploration for Copper Ridge, is the Qualified Person for the Yukon Olympic project and is responsible for the technical content of this news release.
About Copper Ridge Explorations Inc. ------------------------------------
Copper Ridge is focused on two advanced projects: the Duke Island copper-nickel-platinum-palladium project in Alaska and the Clear Lake lead-zinc-silver massive sulphide deposit in central Yukon. By exploring quality projects in areas of high mineral potential and in mining-friendly jurisdictions, Copper Ridge is committed to maximizing shareholder value through discovery.
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.
SOURCE Copper Ridge Explorations Inc.