High Ridge Resources Inc.

High Ridge Resources Inc.

March 23, 2006 13:30 ET

High Ridge Resources Inc.: Silver Bay Exploration Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 23, 2006) - High Ridge Resources Inc.'s (TSX VENTURE:HRR) President, Gary Anderson reports the results of recent mapping and prospecting at its Silver Bay Project, B.C.

The Silver Bay property covers 4,275 acres (1,730 hectares) of favourable stratigraphy comparable to the Bluebell massive-sulphide replacement deposit located 13 kilometres north. The Bluebell Mine was operated by Teck-Cominco between 1952 - 1971 producing 4,800,000 tons of 6.1% zinc, 5.1% lead, as well as significant silver (greater than 1 oz/ton), copper (0.1%) and cadmium. The concentrate was shipped 80 kilometres west to Teck-Cominco's zinc-lead smelter at Trail. Earlier production between 1895- 1927 from the same deposit was 540,000 tons of 8.2% zinc and 6.5% lead (Hoy, 1980).

The Bluebell deposit is a structurally controlled, massive-sulphide replacement deposit contained within the Badshot Formation marble. The Badshot marble is a distinctive, important marker unit within the area and hosts all known lead-zinc deposits in the Kootenay Arc (Hoy, 1980; Warren, 1996).

On High Ridge's Silver Bay prospect, exploration by previous companies successfully located numerous massive-sulphide boulders. Recently, Teck-Cominco completed soil sampling, airborne DIGHEM electromagnetic and magnetic surveys and two drill holes before shutting down their Kootenay exploration operations. The past work has outlined several target areas for further exploration.

Geological mapping and prospecting by High Ridge has confirmed and located numerous massive-sulphide float boulders mineralized with pyrrhotite, sphalerite (zinc), galena (lead), and lesser chalcopyrite (copper). The main area of massive-sulphide boulders forms a pronounced, NNW-trending area 4 km long and about 0.5 to 1 km wide which cuts across the stratigraphic trend at an acute angle. Other mineralized boulders are aligned in the strike direction of the target Badshot Formation. The massive-sulphide boulder trends coincide with zinc-lead-silver anomalies previously outlined in soils.

In addition to the float boulders, several mineralized (zinc-lead-silver) outcrops within the metasedimentary sequence correspond well to the axes of the airborne EM conductors defined by Teck-Cominco (Smith, 1996).

Selected massive-sulphide float boulders and mineralized sub-crop were split by diamond saw and send the ACME Analytical Laboratories in Vancouver for analyses. One-half gram samples prepared at the lab were leached in hot (95 degrees) Aqua Regia, followed by ICP multi-element analysis. Samples with zinc and lead results above 1 percent re-run by classical fire assay (table below):

Zinc Lead Copper Silver
(Zn) (Pb) (Cu) (Ag)
SB-135 1.02% 15.05% 0.007% -
SB-208 4.08% 3.03% 0.289% -
B-208b 11.4% 2.28% 0.254% -
B-BLD1 4.31% 5.56% 0.552% -
SB-BLD2 14.09% 37.37% 0.183% 338g/t
SB-BLD3 18.24% 4.7% 0.915% 188g/t
SB-BLD5 27.04% 7.68% 0.069% -
SB-BLD6 9.08% 10.91% 0.316% 131g/t
SB-243 2.13% 2.51% 0.01% -
SB-242 6.02% 1.38% 0.186% -

Massive-sulphide boulders from Silver Bay differ in the Pb isotope ratios from the Bluebell deposit and are most likely locally derived. The high-grade boulders have no doubt come from a larger body of massive sulphide mineralization at an unknown location. The exploration target or potential Bluebell-type massive-sulphide replacement deposit on the Silver Bay property is within the Badshot Formation marble at major cross structures and/or fracture systems. The greater thickness of the Badshot formation on Crawford peninsula relative to the area of the Bluebell Mine makes the Silver Bay prospect relatively more attractive.

High Ridge Resources Inc. is encouraged by the initial geochemical and geological results, and will conduct a ground magnetic and deep penetrating electromagnetic (EM) survey to investigate larger size massive-sulphide bodies at depth. Detailed prospecting and trenching will be carried out within the zones of the sulphide boulder accumulation and mineralized outcrops. Future exploration will include diamond drilling of selected targets.

Geological information contained in this release has been verified by Brian D. Fairbank, P. Eng., a qualified person as defined in the National Instrument 43-101.

High Ridge Resources Inc.

Gary Anderson, President & CEO

This News Release contains forward-looking statements regarding the timing and content of upcoming programs. Actual results may differ materially from those currently anticipated in such statements.

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

Contact Information

  • High Ridge Resources Inc.
    Gary Anderson
    President & CEO
    (604) 689-9195
    Coal Harbor Communications
    Investor Inquiries
    Toll Free: 1-877-642-6200 or (604) 662-4505