Quitovac

Projects

Quitovac Gold Project, Sonora, Mexico

Target | Property Description & Location | Geology and Mineralization | Historical Resource Calculations | Exploration Potential | Proposed Exploration | Related News Releases | Figures | Photo Gallery

Quitovac is a gold deposit located in Sonora State in northern Mexico, near the Arizona border. The deposit has many similarities to the nearby La Choya gold mine that profitably produced approximately 400,000 ounces of gold for Hecla Mining during the period 1994 to 1999. It also has similarities to a number of other nearby structurally controlled gold deposits such as La Herradura (Newmont and Peñoles - 145,000 ounces of gold produced in 2002) and El Chanate deposits in Sonora as well as the Mesquite, Picacho and American Girl deposits in the adjacent United States. Presently, the Quitovac deposit remains open along strike in both directions and down dip.

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Property Description and Location

The Property is located just west of the main Highway 2, 260 km northwest of Hermosillo and 240 km southwest of Tucson, Arizona. The Property can be reached by Highway 2, 45 km south of the border town of Sonoyta and thence 7 km west by dirt road.

Topography in the area of the claims is flat to gently rolling hills at an elevation of 450 m ASL. The property is within the Sonora desert with a hot, arid climate punctuated by winter rains and infrequent summer storms.

The Property consists of 13 contiguous mining titles covering 2,484 hectares. Copper Ridge can earn a 100% interest in the Quitovac project by paying $10,000 and issuing 1,000,000 shares and 500,000 warrants to the property vendor, each warrant to be exercisable at $.25 in year 1 and $.30 in year two. The acquisition is subject to regulatory approval as well as the execution of a formal agreement and the agreement of the boards of the two companies.

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Geology and Mineralization

Gold mineralization at Quitovac is structurally controlled and occurs at a flexure along the Mojave-Sonora Megashear, a major fault zone that trends from Sonora into southeastern California. The actual gold mineralization is associated with a shallow angle thrust fault, where low-grade gold values occur over significant widths. Within this low-grade zone, steeply dipping quartz veins carry bonanza grades, often in excess of 1 oz/ton gold.

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Historical Resource Calculations

The property contains numerous small, near-surface lode and dry placer workings dating from the late 1800's and early 1900's. Estimates of over 100,000 ounces of historical lode gold production have been made. In recent times, Servicio Industriales Peñoles, S.A. de C.V. ("Peñoles") drilled 6,700 metres of reverse circulation drilling in 45 holes during the period 1987 to 1990 and Santa Cruz Gold Inc. ("Santa Cruz") drilled 2,759 metres of reverse circulation holes in 1997 (see table below for results highlights). Two resource estimates were prepared by Santa Cruz using this drill data, including 3.3 million tonnes at 1.35 g/t gold, for 143,230 ounces of contained gold, and 1.1 million tonnes at 3.14 g/t gold for 112,125 ounces of contained gold*.
* These resources are quoted here for historical information and the reader is cautioned that neither of the calculations conforms to National Instrument 43-101 requirements for reporting reserves and resources, they have not been verified by the issuer's qualified person and should not be relied upon. It is the Company's intention to carry out a Phase I core drilling program to improve the data quality such that a 43-101 compliant resource calculation may be made.

Exploration Potential

At Quitovac, gold occurs within a gently dipping zone of deformation in localized high-grade veins and structures as well as broad areas of low-grade disseminations. The majority of the drilling to date has been completed along this structure over an area approximately 500 m along strike and 250 m down dip. Showings and old workings occur along a 7 km strike length within the property. Some of the best drill intersections obtained from the project, such as hole Q-13 that intersected 7.01 g/t gold over 20 m and hole Q-14, that intersected 9.93 g/t gold over 23 m, are on the most southeasterly drill section tested. The Company believes there is excellent potential to expand the size of the Quitovac gold deposit. The Phase I exploration program will include trenching and step-out drilling in order to test this potential.

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Phase 1 Drill Program

In April through June of 2004, Copper Ridge completed a 1,154 m drill program of 13 holes, most of which were drilled parallel to the existing reverse circulation drill holes. Because of broken ground conditions, core recovery was very poor and gold values were low. The Company believes that most of the gold was lost in the return water during the drilling process and that the core drilling results are not representative of the amount of gold in the rock. The Company is evaluating these results prior to determining its future plans for the Quitovac property.

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	Figure 1: Geology and Santa Cruz Drill Holes 30 KB, approx. 7 seconds at 56.6Kbps
	Figure 2: Quitovac Deposit Cross Section A 23 KB, approx. 5 seconds at 56.6Kbps
	Figure 3: Quitovac Deposit Cross Section B 32 KB, approx. 7 seconds at 56.6Kbps

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