Copper Ridge announces Clear Lake zinc-lead-silver resource


VANCOUVER, Jan. 18 /CNW/ - Copper Ridge Explorations Inc. ("Copper Ridge" or the "Company") announces a NI 43-101 compliant resource estimate for its Clear Lake zinc-lead-silver deposit, located 70 km east of Pelly Crossing and 225 km north of Whitehorse, Yukon, completed by SRK Consulting of Vancouver ("SRK") on January 11, 2010. The deposit contains 7.65 million tons of Inferred Mineral Resource grading 7.6% Zn, 1.08% Pb and 22 g/t Ag. Copper Ridge has the right to earn a 100% interest in Clear Lake, subject to a 2% Net Smelter Royalty, 3/4 of which can be purchased for $1.5 million.

    Deposit Description

Clear Lake was first explored in 1965. Drill programs in the late 1970's and the early 1990's have included a total of 18,219 m in 71 drill holes have delineated the deposit and tested a number of outside targets. Clear Lake is a sedimentary-exhalative (SEDEX) massive sulphide deposit that occurs in Devonian to Mississippian aged shales of the Earn Group. The pyritic massive sulphide body is sigmoidal in shape, approximately 1,000 m in length and up to 120 m wide. Base metal mineralization occurs in two discrete horizons. In the massive sulphide-siliceous horizon, combined zinc-lead mineralization grading +5% occurs in three elongate-shaped lenses, 5 to 30 m thick and 450 m in length that extend at least 300 m down dip. The tuff-barite horizon, 75 m into the hanging wall of the deposit, has a number of intersections of +10% Zn over widths of one to six metres.

    Resource Estimate

SRK was engaged to complete a NI 43-101 compliant resource estimate for the Clear Lake deposit. The estimate was made utilizing 1,842 assays from within the deposit, from a total of 13,168 m of drilling in 63 historical drill holes. An average density of 4.07 gm/cc was used, based on a limited number of field measurements that were confirmed in the laboratory, and with a minimum thickness of 2 m. Mineral resources were estimated by ordinary kriging in 12m by 12m by 9m blocks. The mineral resources are reported at a 4% (Pb+Zn) cut-off. Pb grades have been capped at 1.5% and Ag grades were capped at 60 g/t. The inferred resource utilizing a range of cut-off values is shown in the table below:

                      Capped Inferred Mineral Resources

    Cut-off (Zn+Pb)            Tonnes          Pb%         Zn%        Ag g/t
    greater than 7%           5,146,000        1.18        8.93         26
    greater than 6%           6,391,000        1.14        8.27         24
    greater than 5%           7,290,000        1.10        7.84         23
    greater than 4%           7,765,000        1.08        7.60         22
         Total                7,765,000        1.08        7.60         22

The property is located within Category B Settlement Lands of the Selkirk First Nation (SFN) and agreement with the SFN is required prior to development of the mineral resource. There are no other known environmental, permitting, legal or title issues potentially affecting the development of the mineral resource.

Although SRK placed this resource in the inferred category due to uncertainties related to the historical nature of the available data, they noted that most of the resource has been drilled at a sufficiently close enough spacing to support indicated classification. With a few well located twinned drill holes, the mineral resources could be re-classified as an indicated mineral resource.

    Exploration Potential

SEDEX mineral deposits such as Clear Lake often occur in clusters. In order to search for additional deposits, the Company completed a 235 km VTEM helicopter-borne EM and magnetics survey over the Clear Lake property and adjoining ground to the east and south in 2008. Three target areas, with geophysical signatures similar to Clear Lake, were identified for follow-up. A program of Induced Polarization and gravity geophysical surveys was completed over the three target areas in 2009. In all three areas, coincident gravity, EM and IP anomalies indicate the potential for the occurrence of additional massive sulphide mineral deposits.

    Recommended Program

SRK has recommended a two stage, $1.9 million program at Clear Lake. Stage 1 would involve a 2,500 m drill program. Of this, a nine hole, 1,500 m program would test extensions of the known Clear Lake mineral deposit along strike and at depth. A further 1,000 m in five holes is recommended to test the three outside targets defined by the 2008 and 2009 geophysical surveys. The Company anticipates carrying out this work during the 2010 field season.

The exploration portion of the report was prepared by Don MacIntyre, Ph.D., P.Eng. Mineral resources were prepared by Dr. Gilles Arseneau, P. Geo., Principal Geologist for SRK in Vancouver. A technical report supporting the mineral resource disclosure will be filed on SEDAR within 45 days.

Copper Ridge is committed to exploring in areas of high mineral potential with a current focus on the Duke Island platinum/copper/nickel project in southwest Alaska and the Clear Lake zinc/lead/silver massive sulphide in central Yukon. By exploring quality projects in mining-friendly jurisdictions, Copper Ridge is increasing the chance for discovery to maximize shareholder value.

    TSX Venture Exchange - KRX      Pink Sheets - CRXOF      Berlin - 502845

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

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 Ridges' 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 Redtail Metals Corp.

For further information: For further information: Gerald G. Carlson, President & CEO, Copper Ridge Explorations Inc., Suite 500 - 625 Howe Street, Vancouver, B.C., V6C 2T6, Phone: (604) 688-0833, 1-888-278-2288, Fax: (604) 688-0835,

Organization Profile

Redtail Metals Corp.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890