Pacific Ridge Exploration Ltd. has received encouraging exploration results from the 2010 exploration program on its Mariposa gold property located in the South Klondike area, Yukon. Five gold geochemical anomalies are being defined and additional claims have been staked in order to cover new gold exploration targets discovered during this season.

With additional claims now staked on the Mariposa property, Mariposa now consists of 453 mineral claims covering 90 square kilometres. The western boundary of Mariposa lies approximately 30 kilometres northeast of Kaminak Gold’s Coffee Creek property and 25 kilometres southeast of Underworld Resources’ White gold property (now owned by Kinross Gold Corp.).

Pacific Ridge’s Mariposa property is held by way of an option to earn a 100-per-cent interest from the Tintina syndicate, the details of which agreement were previously reported.

Within the Mariposa property, geochemical soil sampling surveys continue to define new gold exploration targets that require further definition. A 6,500-sample property-wide geochemical soil sampling program is about 30 per cent completed, with over 2,100 soil samples collected to date and geochemical results for 1,750 samples now received. Geologic mapping and rock sampling continue, and trenching of geochemical anomalies has commenced. Details follow with respect to five gold targets partially outlined to date — each geochemically anomalous in gold and related elements. Geochemical soil sampling has proven to be the most effective tool for gold discovery in the South Klondike. Gold values in excess of 20 parts per billion are generally recognized as being anomalous.

Skookum Jim (named after the co-discoverer in the original Klondike gold rush) has been established within the central area of the Mariposa claims. The target has a northeast-trending strike length of 1,100 metres, a width of 600 metres and remains open-ended pending receipt of additional analytical results. Gold-in-soil geochemical values reach peak values of 1,570 parts per billion within an anomaly defined in excess of 20 parts per billion gold. In addition, anomalous values in antimony, bismuth, copper and molybdenum are present. Adjacent to the Skookum Jim anomaly, float samples collected by prior workers (1998) reported gold assays up to three grams gold per tonne. Float prospecting in the area suggests that gold mineralization may be hosted within quartz-rich well-altered rocks, a setting similar to other recent gold discoveries in the South Klondike.

Gertie (in recognition of the Klondike’s “Dance Hall Queen”), located two kilometres southwest from Skookum Jim, is highlighted by two distinct parallel geochemical trends (approximately two kilometres long and 150 metres wide) as defined by anomalous values of bismuth, arsenic and molybdenum. Gold-in-soil values, ranging up to 149 parts per billion gold, are found adjacent to and within the anomalous trends. Historic sampling in the area returned values to 1,333 parts per billion gold. Float prospecting suggests that the two anomalous trends are underlain by quartz muscovite schist, which may be structurally repeated. Along trend, to the east, bedrock schists exposed by placer mining in Mariposa Creek returned a value of 2,530 parts per billion gold over a two-metre chip sample taken from a pyritic granitic dike.

The Hackly anomaly, located within the eastern part of the original Mariposa claim block, contains anomalous gold values within an area measuring approximately 400 by 700 metres. This target is in close proximity to placer gold workings in Mariposa Creek, where “hackly” gold nuggets have been recovered. These rough-textured nuggets suggest proximity to a potential lode-gold source. The anomalous area exhibits peak gold-in-soil values reaching 129 parts per billion gold from this year’s sampling and 256 parts per billion gold from previous sampling in 2009 by the Tintina syndicate. Anomalous values in bismuth and molybdenum are also present.

Maisy (“Maisy Mae” of gold-rush fame) is located within the western portion of the Mariposa claims, south of Cabin Creek. Maisy exhibits gold-in-soil values up to 73 parts per billion gold in an area of highly silicified quartz mica schist float that has been traced 400 metres to the northwest. Samples of the siliceous float returned values up to 784 parts per billion gold and 4,222 parts per billion copper. Anomalous values in bismuth, molybdenum, arsenic and antimony are also reported.

Big Alex (historically known as “King of the Klondike”) is located within the northwest part of the property and lies adjacent to Scroggie Creek. Two zones of gold-in-soil anomalies are emerging with only partial results received to date in an area underlain by pegmatite dikes. Values to 203 parts per billion gold have been received, with elevated values of antimony and molybdenum. To the east, and near Scroggie Creek, a value of 3.0 grams per tonne gold has been reported in pyritic quartz breccia within pegmatite dikes and granite bedrock exposed by placer mining. Within the vicinity of Big Alex, gold-in-quartz nuggets have been placer mined from Scroggie Creek.

Exploration results from Mariposa will be further reported as they are received.

Elsewhere within the company’s Klondike Kate project, exploration is planned later in the season on the Gold Cap and Polar Stewart properties located east of the Underworld/White gold discovery.

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