Pacific Ridge Exploration’s $2.4M Financing for US Copper and Gold Projects
Vancouver, British Columbia – Pacific Ridge Exploration Ltd. (TSXV: PEX, OTCQB: PEXZF, FSE: PQWN), a mineral exploration company, recently announced its plans to raise $2.4 million through a non-brokered private placement financing. The funds will be utilized to advance the exploration of the Company’s portfolio of recently optioned copper and gold projects located in the United States:
Projects in Focus
The four projects in the portfolio include:
- Mineral Hill gold project (Wyoming): This project consists of 1,280 acres of patented and unpatented claims, located in the Wind River Range of Wyoming. The project hosts several known gold occurrences and historic mines.
- Red Star copper project (Utah): The Red Star project is situated in the Mineral Mountains of southern Utah, covering 1,280 acres. It hosts a significant copper-molybdenum-silver-gold deposit.
- Ripsey West copper project (Arizona): This project is located in the Globe-Miami district of Arizona, covering 1,600 acres. It hosts a copper-molybdenum deposit and is situated near several producing mines.
- Royston copper project (Nevada): The Royston project is located in the Cortez mining district of Nevada, covering 1,280 acres. It consists of several copper-gold-silver targets.
Impact on Pacific Ridge Shareholders
The successful completion of this financing will provide Pacific Ridge with the necessary funds to advance the exploration of these projects. The Company’s shareholders stand to benefit from potential discoveries, increased value of their shares, and potential dividends if the Company decides to distribute them.
Impact on the World
The exploration of these projects could lead to the discovery of significant copper and gold deposits, contributing to the global supply of these essential metals. Copper is a critical component in various industries, including renewable energy, electric vehicles, and construction. Meanwhile, gold is a safe-haven asset and is used in various industries, including jewelry, electronics, and aerospace.
Conclusion
Pacific Ridge Exploration’s $2.4 million financing is an exciting development for the Company and its shareholders. The funds will be used to advance the exploration of four promising copper and gold projects in the United States. The potential discoveries from these projects could lead to increased value for Pacific Ridge shareholders and contribute to the global supply of essential metals. Stay tuned for updates on the Company’s exploration progress.
Disclaimer: This article is for informational purposes only. It is not financial advice and should not be considered an offer or invitation to invest in Pacific Ridge Exploration Ltd. or any other company.
