Greenridge Exploration Completes 2024 Exploration Program on its Weyman Copper Project
15 Julio 2024 - 7:00AM
Greenridge Exploration Inc. (“Greenridge” or the
“Company”) (CSE: GXP | FRA: HW3), is pleased to
announce it has completed its 2024 Exploration Program (the
“
Program”) for its Weyman Project (the
“Project” or the
“
Property”) located in Southeastern British
Columbia. The Project covers approximately 6,925 acres of land and
is comprised of seven (7) map-staked mineral claims in the southern
Quesnel Terrane of British Columbia.
The Program included conducting a total metal
ion survey and 1:5,000-scale geological mapping on the Property
(please see News Release dated May 7, 2024). All of the soil
samples have been successfully dried and sent to the lab for
analysis. The results of the current soil survey will become
available once the lab analysis of the soil samples has been
completed and its anticipated results will be available in the
coming weeks.
Russell Starr, Chief Executive Officer of the
Company, commented, “Detailed mapping of the Weyman Project, along
with results of the soil survey, will significantly increase our
technical knowledge of the Project. We look forward to reviewing
those results of the soil survey to guide future exploration
programs.”
The focus of the Program was on the western part
of the Property area where a high-angle thrust fault (the Weyman
Thrust) was accompanied by an intense aeromagnetic low and a group
of 2021-era soil copper anomalies.
Current geological mapping revealed that a
hydrothermal system is exposed adjacent with the western side of
the aeromagnetic low. The hydrothermal system is exposed on surface
for more than 2 km2 (1.22 mi2). It has produced an alteration zone
that is exposed at the top of a cupola of the Wild Horse batholith.
In the interior of the alteration zone, potassic and both prograde
and retrograde propylitic alteration are substantial. Alteration
intensity is less intense toward the margins of the alteration zone
as should be expected. Such alteration is typical of that
enveloping mineralization of porphyry copper-molybdenum-silver-gold
deposits throughout the Quesnel and Stikine terranes in British
Columbia. The central part of the alteration zone is surrounded by
a ring of several local soil-copper anomalies from the 2021 soil
survey.
Rocks in the alteration zone are Nicola-belt,
fine-grained, water-lain andesite and basalt that have been
intruded by the Wild Horse batholith which is granodioritic to
dioritic in composition. The contaminated upper contact of the
intrusion is exposed at surface throughout the alteration zone.
Silicification has hardened the local rocks and rendered them
resistant to weather and grinding by glacial ice. Consequently,
rock outcrop is substantial in that area making it relatively easy
to map the alteration zone.
The current soil survey was conducted in areas
flanking the newly mapped alteration zone, mostly to its north and
east, where there is very little rock outcrop.
National Instrument 43-101
Disclosure
John Ostler, M. Sc., P. Geo, (EGBC Licence #
18415) is an independent qualified person as defined by National
Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Mr. Ostler has reviewed and approved the technical content in this
release.
References
1 Source: 1978
Assessment Report (number 81075) by Pan Ocean Oil Ltd.
About Greenridge Exploration
Inc.
Greenridge Exploration Inc. (CSE: GXP | FRA:
HW3) is a mineral exploration company dedicated to creating
shareholder value through the acquisition, exploration, and
development of critical mineral projects in North America. The
Carpenter Lake Uranium Project is located in the Athabasca Basin
consisting of 7 mineral claims covering 13,387 hectares across the
Cable Bay Shear Zone and the Company is advancing the Project to
test multiple high priority targets. The Company’s Nut Lake Uranium
Project located in the Thelon Basin includes historical drilling
which intersected up to 9ft of 0.69% U3O8 including 4.90% U3O8 over
1ft from 8ft depth1.
The Company’s Weyman Copper Project in southeast
British Columbia sits on the south portion of the famous Quesnel
Terrance. The Company is led by an experienced management team and
board of directors with significant expertise in capital raising
and advancing mining projects. The Snook and Ranger Lake uranium
projects, 4,899 hectares and 20,782 hectares respectively are
located in western Ontario, with multiple previous uranium
occurrences across both projects.
On Behalf of the Board of
Directors
Russell StarrChief Executive Officer, DirectorTelephone: +1
(778) 897-3388 Email: info@greenridge-exploration.com
Disclaimer for Forward-Looking Information
This news release contains certain
forward-looking statements within the meaning of applicable
securities laws. All statements that are not historical facts,
including without limitation, statements regarding future
estimates, plans, programs, forecasts, projections, objectives,
assumptions, expectations or beliefs of future performance,
including statements regarding the project acquisition bringing a
low-risk opportunity, the Company, building a strong battery metals
portfolio with low-risk opportunities that positively impact the
Company and its shareholders and the Company providing an initial
work plan are "forward-looking statements". Forward-looking
statements in this news release include, but are not limited to,
statements with respect to the Project and its mineralization
potential; the Company’s objectives, goals, or future plans with
respect to the Project; the anticipated results of the Program;
further exploration work on the Property in the future. These
forward-looking statements reflect the expectations or beliefs of
management of the Company based on information currently available
to it. Forward-looking statements are subject to a number of risks
and uncertainties, including those detailed from time to time in
filings made by the Company with securities regulatory authorities,
which may cause actual outcomes to differ materially from those
discussed in the forward-looking statements. These factors should
be considered carefully, and readers are cautioned not to place
undue reliance on such forward-looking statements. The
forward-looking statements and information contained in this news
release are made as of the date hereof and the Company undertakes
no obligation to update publicly or revise any forward-looking
statements or information, whether because of new information,
future events or otherwise, unless so required by applicable
securities laws.
The Canadian Securities Exchange (CSE) does not
accept responsibility for the adequacy or accuracy of this
release.