The news article discusses Pacific Ridge Exploration Ltd.’s decision to increase its financing from $1,350,500 to $1,650,500 due to strong investor demand. The additional funds will be used for continued exploration at the Company’s Kliyul copper-gold project in northcentral B.C. This financing includes the issuance of units and flow-through units in a private placement to support exploration activities and general working capital. Pacific Ridge aims to further explore its flagship Kliyul project, as well as other projects in British Columbia, to uncover potential mineralization and expand upon recent drilling successes.
The Kliyul project, located in the Quesnel Terrane, has shown promising results from recent drilling activities, with significant mineralized intervals reported in the Kliyul Main Zone. Pacific Ridge’s exploration efforts have expanded the known mineralized extents within the project, paving the way for further exploration work to refine targeting for higher-grade mineralization. The Company’s focus on the KMZ area has yielded positive results, with plans for additional surveys and exploration activities throughout the year to identify potential porphyry centers. By leveraging the increased financing, Pacific Ridge aims to unlock the full potential of its Kliyul project and solidify its position as a leading copper-gold exploration company in British Columbia.
Pacific Ridge’s strategic decision to enhance its financing underscores its commitment to maximizing the potential of its projects and delivering value to its shareholders. The Company’s focus on exploration and development in the Quesnel Terrane region highlights its dedication to uncovering significant mineral deposits and expanding its resource base. With a strong emphasis on continued exploration at the Kliyul project, Pacific Ridge is well-positioned to capitalize on recent drilling successes and unlock further value for its stakeholders. Through its targeted exploration activities and the utilization of increased funding, Pacific Ridge aims to drive growth and establish itself as a key player in the copper-gold exploration sector.
