 Pacific Ridge Drill
Program
Bob Moriarty
August 9, 2003
 Our
loyal readers may well remember when I was on my recent trip
to Alaska to pick up a truck that I mentioned stopping at the
Golden Arrow property in Nevada, just east of Fallon.
Pacific Ridge (symbol: PEX-V) is in the midst of
a $700,000 Canadian drill program on the Golden Arrow project. They intend to drill
about 30,000 feet this year in two phases. Phase I has been underway
for the last couple of weeks and other than the contractor dropping
the drill down the hole, it has been fruitful.
At the same
time Pacific Ridge geologists were starting the drilling, they
had another team conducting a massive geochemical survey of the
property. When the results of the Phase I drilling and the geochem
survey are compared, they intend to lay out entirely new drill
targets for Phase II.
Prior drilling
at Golden Arrow has revealed massive low grade structures (1.7
grams per tonne gold over 357 feet) and a few high grade structures
(58.3 grams per tonne over 15 feet).
Pacific Ridge
has the right to earn up to an 80% interest in the Golden Arrow
property from Nevada
Sunrise,
LLC.
Pacific Ridge
stock is selling for about $.15 Canadian and they have 36,000,000
shares fully diluted so their market cap is about $5.4 million
Canadian. A successful drill program would make that pretty cheap
and results from the drilling will be released in the next week.
This is neither
a buy nor sell recommendation. Pacific Ridge is an advertiser
and we have both shares and warrants from a private placement
done earlier this year.
Bob Moriarty
Archives
Email bob@321gold.com
________________
321gold
Inc ref: 1379
|
