High Ridge Announces Completion of Phase Two 3D Induced Polarization and Magnetic Surveys on the Rosicler-El Domo Project in the San Mateo Area, Peru
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Aug. 26, 2008) – High Ridge Resources Inc. (“High Ridge”) (TSX VENTURE:HRR)(FRANKFURT:HR2) is pleased to announce results of a phase two 3D induced polarization (IP) survey on its Rosicler-El Domo project near San Mateo, 90 km east of Lima, Peru.
High Ridge has concluded the second stage of a 3D Induced Polarization and magnetic surveys on Rosicler-El Domo project, extending the previously surveyed grid to the southeast and southwest in order to further outline the anomalies that extend past the limits of the previous IP survey (see High Ridge news release April 10, 2008). Both surveys were performed by Arce Geofisicos S.R.L.; the Company has received report on the surveys.
A large and previously not mined contiguous group of concessions, Rosicler-El Domo, includes a three kilometer long, largely exposed mineralized quartz vein system and the related alteration zone named Rosicler, as well as associated, strongly altered dacite/diorite dome, El Domo. The Rosicler vein contains two different mineralized sections; the SW-central section contains silver-bearing, polymetallic mineralization; the NE section is dominated by silver mineralization and anomalous gold values (Velarde, 1997). There are at least two additional mineralized vein systems present on this property, both of which are parallel to the Rosicler vein.
The results of the completed 3D IP survey over and in the vicinity of the Rosicler vein and El Domo area show a high chargeability anomaly that, near the surface, exhibits an elliptical shaped “doughnut” pattern with length about 1,500 metres and width 600 meters (see Figure 1 below). The strong chargeability responses continue down to 280 meters depth (the survey’s limit at depth) and beyond margins of the survey grid. The resistivity results show a somewhat similar, but discontinuous, pattern coincident with the chargeability low. In addition, an even a stronger IP anomaly with the corresponding low resistivity values was found in the southwest corner of the survey grid, where it starts at surface and extends past the limits of the IP survey.
The combined low resistivity/high chargeability anomalies on Rosicler-El Domo are expected to be caused by metallic sulphides and are going to be tested by drilling. High Ridge completed the permitting process and initiated the drilling program at its Rosicler-El Domo project. The drilling program will involve an initial 2,500-3,000 metres and it is estimated that the first phase of this program will take up to 7-10 weeks to complete.
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.
Z. Adam Szybinski, Ph.D. (Geology), High Ridge Vice-President of Exploration, and Jose R. Arce, M.Sc. (Geophysics), of Arce Geofisicos, are the “qualified persons” responsible for the contents of this news release.
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.
To view Figure 1, please click on the following link: http:// media3.marketwire.com/docs/hrrFig1.pdf
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