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| July 05, 2005 Drilling Underway at Yukon Olympic IOCG Target; Drilling Completed at Lucky Joe | |||||
| Copper Ridge - KRX-TSX.V Press Release No. 10/2005 Vancouver, BC, July 5, 2005 - Copper Ridge Explorations Inc. ("Copper Ridge" or the "Company") announces that a minimum 600 m core drilling program on its road accessible, 9,000 ha Yukon Olympic property is now underway. Janina Resources Limited is earning a 51% interest in Yukon Olympic by spending $1.5 million on exploration over 5 years, issuing 250,000 shares to Copper Ridge over 2 years, plus an additional 500,000 shares upon completion of a feasibility study. Copper Ridge will operate the program. The target at Yukon Olympic is an Olympic Dam-type iron oxide copper-gold ("IOCG") deposit. The Olympic Dam deposit in Australia (2,000 million tonnes grading 1.6% copper, 0.6 g/pt gold and 3.5 g/pt silver) is characterized by a large magnetic anomaly flanked by a gravity anomaly, reflecting the iron-rich breccia body. The Yukon Olympic property occurs in a geological setting that is similar to Olympic Dam, occurring in host rocks of similar age and with mineralization and alteration that is of a similar age and character. In 2004, detailed geophysical surveys were conducted at the eastern end of the previously defined, 12 km long gravity and magnetic trend. The survey successfully defined a strong, roughly circular magnetic anomaly with a partially fringing gravity anomaly locally in excess of 2 milligals (see map attached). The south-eastern portion of the gravity anomaly correlates with known, copper-bearing hematite (iron oxide) breccia in Spectacular Creek, while for the most part the source of the combined magnetic and gravity feature is hidden under younger cover rocks. The program will include three drill holes testing the Blackstone gravity target, with coincident Induced Polarization chargeability anomalies at two of these sites. Please see Copper Ridge's web site - www.copper-ridge.com - for more details on the Yukon Olympic project. The Company's Qualified Person for the Yukon Olympic project is Gerald G. Carlson, Ph.D., P.Eng. Drilling has now been completed at the Company's Lucky Joe copper-gold project, under option to Kennecott Canada Exploration Inc. ("Kennecott"), a Canadian subsidiary of Rio Tinto plc. Five holes, for a total of 1035 m, were completed testing approximately 3.5 km of strike length within the 11 km long Papa Bear copper-gold soil anomaly. Results of this program will be announced as soon as assays have been received. Copper Ridge has been highly successful in securing eleven large-scale, early-stage gold and copper properties in the Yukon, Alaska, B.C. and Mexico, three of which are under option to mineral exploration companies. This strategy enables Copper Ridge to minimize risk and financial exposure while maximizing the chances for exploration success and freeing up resources to seek out prime new acquisitions. For further information contact: 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 info@copper-ridge.com This release was prepared by the management of the Company and as such, takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. - 30 - View News Release in PDF Format: | |||||
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