Imperial drills Joss’alun project

Vancouver — Copper Ridge Explorations (KRX-V) reports that Imperial Metals (III-T) has commenced a 1,200-metre drill program on the company’s Joss’alun property in the Atlin area of British Columbia.

Drilling will follow up on the results of the first phase of exploration which identified two new zones of copper mineralization: the Box Lake showing southeast, and the Jennusty showing northwest of the initial Joss’alun discovery. Drilling will focus on the Joss’alun and Jennusty showings. High-priority soil geochemistry anomalies along the strike of known mineralization will also be drilled.

The Jennusty mineralization occurs on surface as highly oxidized pods of massive sulphide hosted within gabbro. The mineralized zone is bound within a vertical fault zone which has a width of about 17 metres. A second showing which is thought to be a possible extension of the Jennusty mineralization is situated about 200 metres to the east. Grab samples at this second showing averaged up to 4.49% copper.

The Box Lake discovery lies in a valley just southeast of Joss’alun showing. It is on strike and hosted in the same mafic volcanic rocks as the Jennusty mineralization. So far, most of the mineralization identified has been in float samples, however, one grab sample from outcrop returned a grade of 1.45% copper. Imperial will continue to evaluate the Box Lake area before it decides to commit a drill rig.

The Joss’alun showing is hosted within a mafic volcanic unit of pillows and lesser agglomerate. It measures about 40 metres thick in the main showing area and mineralization appears to be both syngenetic, (occurring as interstitial rinds of the pillows and fracture fillings), and epigenetic, (occurring as structurally hosted veins).

Several drill holes will test the area.

According to the option agreement, Imperial can earn a 100% interest on the property by issuing 100,000 shares over one year plus an additional 100,000 shares after $2.5 million has been spent on the property. Copper Ridge will retain a 2% net operating profits royalty which can be purchased by Imperial for $3 million. The agreement includes an adjoining property acquired by Copper Ridge from Tenajon Resources (TJS-V) in late January.