High Ridge Drills the Chanape Property and Expands 3D Induced Polarization Survey in the San Mateo Area, Peru
VANCOUVER, BRITISH COLUMBIA–(Marketwire – July 3, 2008) – High Ridge Resources Inc. (“High Ridge” or the”Company”) (TSX VENTURE:HRR)(FRANKFURT:HR2) is pleased to advise that their initial stage drilling program on the Chanape project, near San Mateo, 95 kilometers east of Lima, Peru, is advancing well. The Company has finished drilling of one of the numerous exposed on surface mineralized and gold-bearing hydrothermal breccia chimneys within a larger diorite-monzonite body. Presently, the drill rig is being moved to the next platform where it is going to test the 1.5 km long Fulvia vein and the associated body of mineralized, polymetallic breccia.
The area covered by the current phase of the drilling program is about four square kilometres and it is expected that will involve 3,000-5,000 metres from up to 9 platforms, and will take of up to 8 weeks to complete. This initial stage of the drilling program will also test other breccia bodies, as well as polymetallic veins and larger targets identified previously by 3D induced polarization survey (High Ridge news release March 25, 2008).
High Ridge has also begun the second stage of a 3D induced polarization and magnetic surveys on the Chanape project. Both surveys are being performed by Jose Arce Geofisicos S.R.L., a Peruvian company.
Previously, a combination of IP and magnetic surveys and the geological information has delineated on Chanape several high priority drilling targets, with a range of extensions at depth (High Ridge news release March 25, 2008). The anomalies, as well as surface mineralization, remain open in all directions and suggest a potential for new discoveries on this property. Based upon compelling results to date, the Company decided to expand the survey to further follow the low resistivity/high-chargeability anomalies and investigate mineralized targets.
A permit for drilling of an area adjacent to Company’s Chanape project is in progress. An application for drilling of the Rosicler- El Domo project is under way and preparations for additional IP and magnetic surveys are in progress on other concessions in the area.
Z. Adam Szybinski, High Ridge Vice-President of Exploration, is the qualified person responsible for the content of this news release.
About High Ridge Resources Inc.:
High Ridge is focused on large scale exploration projects in British Columbia and Peru. In addition to the Peruvian gold and polymetallic projects, High Ridge has three advanced exploration projects in British Columbia. These properties include the Chuchi property (Cu-Au porphyry), 30 km northwest of Terrane’s Mt. Milligan project; Newton Mountain (Au-Cu porphyry), 35 km north of Taseko Mine’s Prosperity project – formerly Fish Lake (Au-Cu porphyry); and the Silver Bay (Ag, Pb, Zn, and Cu porphyry) project, 10 km south of Cominco’s former Bluebell mine.
Forward Looking Statements: The above contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward- looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
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