VANCOUVER, July 6 /CNW/ - Copper Ridge Explorations Inc. (TSX-V: KRX) ("Copper Ridge") announces that Taipan Resources Inc. ("Taipan") (TSX-V: TPN) has commenced a 600 m, three hole drill program on its Lucky Joe Copper-Gold project located in the White Gold district south of Dawson City, Yukon. Taipan has an option to earn up to a 65% interest in Lucky Joe from Copper Ridge. Drilling will focus on the southern portion of the 7 km long Ryan's Creek trend. In 2006, Copper Ridge encountered a mineralized zone consisting of trace to 2% chalcopyrite and trace to 2% pyrite between 48 and 91 m in hole LJ06-09. Within this zone, copper assayed 0.75% over 3.0 m and gold assayed 3.0 g/t over 2.4 m. Additional drilling in 2007, 2,000 to 3,500 m north of LJ06-09, encountered 7.3 m of 0.905% Cu and 0.5 g/t gold in hole LJ07-19, 26.6 m of 0.152% Cu in hole LJ07-18 and 15.3 m of 0.176% Cu in hole LJ07-22.
The Lucky Joe Copper-Gold project is located in Yukon approximately 50 km south of Dawson City and 40 km northeast of Underworld's White Gold discovery, recently acquired by Kinross Gold Corporation. The Lucky Joe Property consists of 548 quartz claims with a total area of approximately 11,000 ha. The Property hosts a unique style of copper-gold mineralization that has similarities to Capstone Mining Corp.'s Minto mine, approximately 150 km to the southeast. In the late 1970s, drilling of a small part on the fringe of this potentially mineralized area by Riocanex gave values of 0.3% Cu to 0.6% Cu over thicknesses of 20 to 30 m, with values up to 0.95% Cu over 5.2 m. Later analyses of selected core samples demonstrated gold to have close to a 1:1 correlation with copper. When copper assays were in the 0.9% range, gold values were in the .8 to .9 g/t range.
Mr. J. Greg Dawson, P.Geo., President of Copper Ridge, is the Qualified Person for the Lucky Joe project and is responsible for the technical content of this news release. Further information on Copper Ridge's exploration portfolio can be found at www.copper-ridge.com
About Copper Ridge Explorations Inc.
Copper Ridge Explorations Inc. is focused on advancing the Duke Island copper-nickel-platinum-palladium project in Alaska while pursuing opportunities to expand its portfolio of advanced exploration projects in the Yukon, Canada. By exploring quality projects in areas of high mineral potential in mining-friendly jurisdictions, Copper Ridge is committed to maximizing shareholder value through discovery.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 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 Redtail Metals Corp.
For further information: For further information: Copper Ridge Explorations Inc.: J. Greg Dawson, President, (604) 648-4653