Pacific Ridge Exploration (TSE:PEX) has released an update.
Pacific Ridge Exploration Ltd. has successfully completed the initial tranche of its funding round, raising $1.68 million to kick off the first extensive drilling program at the Chuchi copper-gold project in British Columbia. The company issued both flow-through and non-flow-through units to garner the funds, which are earmarked for exploring the promising potential for deep-seated porphyry copper-gold mineralization at the project site. Drilling is set to begin in mid-August with plans to penetrate 2,400 meters, targeting areas where previous drilling was shallow and indicated mineralization.
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