Copper Ridge Explorations Inc. - QwikReport

COPPER RIDGE EXPLORATIONS INC. : http://www.copper-ridge.com/ : QwikReport

Babine

Target

Porphyry copper-gold-molybdenum deposit

Property Description and Location

The Babine project includes both the NAK and Dorothy options and covers an area of 6,080 hectares located 80 km northeast of Smithers, British Columbia, in the Omenica Mining Division (see Figure 1).

On May 6, 2007, the Company announced that it had agreed to earn a 100% interest in the NAK property by making payments totaling $250,000 over 6.5 years, including $10,000 on signing of the agreement. The vendor is also entitled to additional payments of $125,000 upon certain exploration milestones being reached. These payments may be taken in shares of the Company at the vendor's option. The vendor retains a 3% NSR royalty, two-thirds of which can be purchased by the Company for $1 million.

On August 9, 2007, the Company announced that it had agreed to earn a 100% interest in the Dorothy property by making payments totaling $200,000 over 4 years, including $15,000 on signing of the agreement and issuing 400,000 shares, 200,000 of which will be due upon regulatory approval. The vendor is also entitled to additional payments of $125,000 upon certain exploration milestones being reached. These payments may be taken in shares of the Company at the vendor's option. The vendor retains a 3% NSR royalty, two-thirds of which can be purchased by the Company for $1 million.

Project Description

The Babine project includes the Nak and Dorothy porphyry deposits, located in the Babine copper-gold porphyry belt that includes the Bell and Granisle mines, the Morrison deposit and numerous undeveloped prospects. The Bell and Granisle mines together produced 130 million tonnes of ore grading 0.4% copper (Cu), 0.15 g/t gold (Au) and 0.75 g/t silver.

The Nak property hosts a copper-gold porphyry deposit related to the Tertiary age Babine intrusive suite of rocks. The primary host rock for copper-gold mineralization in the region is a distinctive 'crowded' biotitefeldspar porphyry of granodiorite composition. The main zone of mineralization on the Nak property is in an area of low relief situated between two northerly trending ridges and is open to the southeast and east. This area has extensive glacial till overburden cut by intermittent streams flowing in roughly east-west and northeastsouthwest directions.

The Dorothy property is host to porphyry copper mineralization associated with a biotitic-feldspar porphyry intrusion. Geophysical surveys suggest that the porphyry has been bisected and offset by a fault. If this interpretation is correct, the entire western half of the deposit has yet to be tested by drilling. Previous work also indicates the possibility for discovery of associated breccia style copper-gold mineralization.

Historical Exploration

The NAK and Dorothy deposits were discovered shortly after discovery of the Bell and Granisle deposits, just to the south on Babine Lake:

1964-1971:	At NAK, Noranda Exploration Company Ltd., following the discovery of anomalous copper values, performed soil geochemical, surface geophysical and geological mapping surveys and limited trenching. The mineralization was initially identified by 28 drill holes totaling 1,837 metres.
1965:	Initial follow-up of anomalous silt geochemistry at the Dorothy deposit.
1970-76:	Dorothy property re-staked by Evergreen Exploration. Exploration included an airborne magnetic survey and IP survey. In 1971 Twin Peak Mines Ltd. and Ducanex Resources Ltd. completed a trenching program and 29 drill holes totaling 2,973 meters.
1992:	The Nak 1, 2, 3 and 4 claims were located by Lorne Warren.
1992-93:	Tri-Alpha Investments carried out limited surface exploration on the NAK and returned the property to Warren.
1993:	An airborne geophysical survey (16 line km helicopter--borne magnetometer, electromagnetic and VLM-EM) was carried-out over central portion of the Nak claims and the NAK deposit on behalf of Noranda Exploration Company Ltd. Teck Exploration Ltd. completed petrographic and lithogeochemical studies on surface rock and drill-core samples collected from the Nak property.
1994:	The NAK property was re-staked and the claims optioned by Hera Resources Inc. who completed an induced polarization (IP) and magnetic survey over a newly constructed 45.2 km grid. The IP survey outlined several anomalous zones worthy of further mineral exploration.
1995:	The 1994 NAK grid was extended by Hera and later covered by additional IP and magnetometer surveys. These surveys outlined a large, low chargeability response on the margins of a large, high chargeability response and coincident with rare outcrops of a quartz diorite and other intrusive rocks containing up to 5% chalcopyrite. Hera drilled 43 BQ diamond drill holes totaling 8,007.3 metres in length and encountered several intersections of significant copper - gold mineralization including 168 m of 0.352 % Cu and 0.646 g/t Au and 375 m of 0.222 % Cu.
1996:	Hera drilled an additional 28 BQ diamond drill holes on the NAK deposit for 5,304.1 metres. This program resulted in the identification of a zone of significant copper-gold mineralization in the 'southern zone'. This zone was found to host localized high-grade copper veins (1.318% Cu and 0.203g/t Au over 18.28 metres) as well as significant gold mineralization (0.24 % Cu and 1.27 g/t Au over 70.7 m). Associated disseminated mineralization was also found in adjacent sedimentary units.

Recent Results

In late 2007, Copper Ridge cut a 90 km line grid, covering a 10 by 4 km area that includes the NAK and Dorothy deposits. IP and magnetic surveys were completed over 14 km of this grid before heavy snowfall forced termination of the program. During the early part of the 2008 field season, the IP and ground magnetometer surveys were completed, along with a surface geological evaluation of the NAK deposit area (see Figure 2).

During the second quarter, the Company completed a five hole, 1,265 m drill program at Babine. The first hole was drilled on the Dorothy property while the remaining four holes were drilled at NAK, testing the gold and copper-rich southwestern extension of the deposit. Best results were from hole BB08-04, drilled in the Southern Zone of the Nak deposit. The hole was drilled to 324 m and averaged 0.12% copper and 0.329 gpt gold throughout its length, including 98.04 m averaging 0.20% copper and 0.51 gpt gold (0.614% copper equivalent*) and 16.0 m averaging 0.23% copper and 0.76 gpt gold (0.857% copper equivalent*). Chalcopyrite occurs throughout the hole in quartz veinlets, fractures and disseminations in the host intrusive.

2008 Drill Results Summary - Southern Zone, Nak Deposit
Drill Hole	From (m)	To (m)	Interval	Cu (%)	Au (g/t)	CuEq (%)*	AuEq (g/t)*
BB08-02	166.0	226.0	60.0	0.11	0.05	0.15	0.18
BB08-03	62.35	65.2	2.85	0.12	3.35	2.89	3.50
BB08-04	7.50	324.00	316.50	0.12	0.26	0.33	0.40
includes	21.00	119.04	98.04	0.20	0.51	0.61	0.74
includes	137.00	153.00	16.00	0.23	0.76	0.86	1.04

*Copper equivalent (CuEq) and gold equivalent (AuEq) were calculated using a copper price of $1.50/lb. and a gold price of $850/oz., and both assuming metallurgical recoveries and net smelter returns of 100%.

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This page was created on Thu Sep 9, 2010 at 8:15:21 AM Pacific Time.