By: Tomas Ronolski - AllPennyStocks.com News

Monday, December 12, 2016

Pacific Ridge Exploration Ltd. (TSX-Venture:PEX) announced that it has receiving its drill permit for the TL Zinc Project. The company also reported the start of drilling operations. The TL Zinc Project is road accessible and is located 80km northeast of Vernon, British Columbia. The new initiative is likely to boost the company’s profile. Gerry Carlson, President of Pacific Ridge said, “The large and strong EM conductor and coincident gravity with adjacent zinc showings in float and bedrock ranging from 1% to 19% Zn occur at a regionally favourable stratigraphic horizon with numerous known base and precious metal occurrences.”

The drilling will target a large Broken Hill type or SEDEX (Sedimentary Exhalative) Zn-Pb-Ag massive sulfide deposit. The program intends to cover up to 1,800 m of NQ core drilling in up to six drill holes. The holes will carry out the test for the main HELITEM electromagnetic conductor on the property, a flat conductive layer over 4 km long and 100 to over 200 m wide, with coincident anomalous gravity values.

TL Property was earlier subjected to trenching and drilling in 2012. The location of the property is ideal as it has close proximity to road, rail and electric power grids. Mineralization in trenches and drilling is believed to be a peripheral mineralized horizon stratigraphically above or distal to the main exploration target.

Pacific Ridge Exploration stock gained 46% in the past six months, however that dwarfs their one year gain which stands at a whopping 533%! With its new announcement and latest developments, the company’s stock is expected to maintain its momentum. Earlier this year, the company announced optioning its Mariposa Gold project to Eureka Dome Gold Inc., a private British Columbia company.

The project is a 280 km2 property located 30 km east of the Coffee Gold Project, recently acquired from Kaminak by Goldcorp for a transaction value of $521 million, and 40 km southeast of Kinross' Golden Saddle deposit, Yukon.

The company’s prospects are further strengthened by the fact that it identified two chargeability anomalies on its Poker Brown gold-silver project, Nevada. These anomalies offer high priority targets for the Company's drill program at Poker Brown, planned for early 2017.

All told, the company holds stakes in various projects such as Mariposa, Eureka Dome and Gold Cap, and a deposit in Fyre Lake and was formed back in 1979.

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