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Message: Copper Ridge announces Clear Lake zinc-lead-silver resource

Copper Ridge announces Clear Lake zinc-lead-silver resource

posted on Jan 18, 2010 09:43AM

Copper Ridge announces Clear Lake zinc-lead-silver resource


	    VANCOUVER, Jan. 18 /CNW/ - Copper Ridge Explorations Inc. ("Copper Ridge"
or the "Company") announces a NI 43-101 compliant resource estimate for its
Clear Lake zinc-lead-silver deposit, located 70 km east of Pelly Crossing and
225 km north of Whitehorse, Yukon, completed by SRK Consulting of Vancouver
("SRK") on January 11, 2010. The deposit contains 7.65 million tons of
Inferred Mineral Resource grading 7.6% Zn, 1.08% Pb and 22 g/t Ag. Copper
Ridge has the right to earn a 100% interest in Clear Lake, subject to a 2% Net
Smelter Royalty, 3/4 of which can be purchased for $1.5 million.

	    Deposit Description
	    Clear Lake was first explored in 1965. Drill programs in the late 1970's
and the early 1990's have included a total of 18,219 m in 71 drill holes have
delineated the deposit and tested a number of outside targets. Clear Lake is a
sedimentary-exhalative (SEDEX) massive sulphide deposit that occurs in
Devonian to Mississippian aged shales of the Earn Group. The pyritic massive
sulphide body is sigmoidal in shape, approximately 1,000 m in length and up to
120 m wide. Base metal mineralization occurs in two discrete horizons. In the
massive sulphide-siliceous horizon, combined zinc-lead mineralization grading
+5% occurs in three elongate-shaped lenses, 5 to 30 m thick and 450 m in
length that extend at least 300 m down dip. The tuff-barite horizon, 75 m into
the hanging wall of the deposit, has a number of intersections of +10% Zn over
widths of one to six metres.

	    Resource Estimate
	    SRK was engaged to complete a NI 43-101 compliant resource estimate for
the Clear Lake deposit. The estimate was made utilizing 1,842 assays from
within the deposit, from a total of 13,168 m of drilling in 63 historical
drill holes. An average density of 4.07 gm/cc was used, based on a limited
number of field measurements that were confirmed in the laboratory, and with a
minimum thickness of 2 m. Mineral resources were estimated by ordinary kriging
in 12m by 12m by 9m blocks. The mineral resources are reported at a 4% (Pb+Zn)
cut-off. Pb grades have been capped at 1.5% and Ag grades were capped at 60
g/t. The inferred resource utilizing a range of cut-off values is shown in the
table below:

	                      Capped Inferred Mineral Resources

	    Cut-off (Zn+Pb)            Tonnes          Pb%         Zn%        Ag g/t
	    greater than 7%           5,146,000        1.18        8.93         26
	    greater than 6%           6,391,000        1.14        8.27         24
	    greater than 5%           7,290,000        1.10        7.84         23
	    greater than 4%           7,765,000        1.08        7.60         22
	         Total                7,765,000        1.08        7.60         22

	    The property is located within Category B Settlement Lands of the Selkirk
First Nation (SFN) and agreement with the SFN is required prior to development
of the mineral resource. There are no other known environmental, permitting,
legal or title issues potentially affecting the development of the mineral
	    Although SRK placed this resource in the inferred category due to
uncertainties related to the historical nature of the available data, they
noted that most of the resource has been drilled at a sufficiently close
enough spacing to support indicated classification. With a few well located
twinned drill holes, the mineral resources could be re-classified as an
indicated mineral resource.

	    Exploration Potential
	    SEDEX mineral deposits such as Clear Lake often occur in clusters. In
order to search for additional deposits, the Company completed a 235 km VTEM
helicopter-borne EM and magnetics survey over the Clear Lake property and
adjoining ground to the east and south in 2008. Three target areas, with
geophysical signatures similar to Clear Lake, were identified for follow-up. A
program of Induced Polarization and gravity geophysical surveys was completed
over the three target areas in 2009. In all three areas, coincident gravity,
EM and IP anomalies indicate the potential for the occurrence of additional
massive sulphide mineral deposits.

	    Recommended Program
	    SRK has recommended a two stage, $1.9 million program at Clear Lake.
Stage 1 would involve a 2,500 m drill program. Of this, a nine hole, 1,500 m
program would test extensions of the known Clear Lake mineral deposit along
strike and at depth. A further 1,000 m in five holes is recommended to test
the three outside targets defined by the 2008 and 2009 geophysical surveys.
The Company anticipates carrying out this work during the 2010 field season.

	    The exploration portion of the report was prepared by Don MacIntyre,
Ph.D., P.Eng. Mineral resources were prepared by Dr. Gilles Arseneau, P. Geo.,
Principal Geologist for SRK in Vancouver. A technical report supporting the
mineral resource disclosure will be filed on SEDAR within 45 days.

	    Copper Ridge is committed to exploring in areas of high mineral potential
with a current focus on the Duke Island platinum/copper/nickel project in
southwest Alaska and the Clear Lake zinc/lead/silver massive sulphide in
central Yukon. By exploring quality projects in mining-friendly jurisdictions,
Copper Ridge is increasing the chance for discovery to maximize shareholder

	    TSX Venture Exchange - KRX      Pink Sheets - CRXOF      Berlin - 502845

	    Neither TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or accuracy of
this release.

	    This press release contains projections and forward-looking information
that involve various risks and uncertainties regarding future events. Such
forward-looking information can include without limitation statements based on
current expectations involving a number of risks and uncertainties and are not
guarantees of future performance. There are numerous risks and uncertainties
that could cause actual results and Copper Ridges' plans and objectives to
differ materially from those expressed in the forward-looking information.
Actual results and future events could differ materially from those
anticipated in such information. These and all subsequent written and oral
forward-looking information are based on estimates and opinions of management
on the dates they are made and are expressly qualified in their entirety by
this notice. Except as required by law, Copper Ridge assumes no obligation to
update forward-looking information should circumstances or management's
estimates or opinions change.

	    /For further information: Gerald G. Carlson, President & CEO, Copper
Ridge Explorations Inc., Suite 500 - 625 Howe Street, Vancouver, B.C., V6C
2T6, Phone: (604) 688-0833, 1-888-278-2288, Fax: (604) 688-0835,
[email protected]/
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