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Pacific Ridge terminates option deals for TL, Mariposa projects

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Pacific Ridge terminates option deals for TL, Mariposa projects

Pacific Ridge Exploration Ltd. terminated option agreements for the TL zinc and Mariposa gold projects in Canada, according to a March 21 release. No further details were provided.

The company secured an option to fully acquire the TL property in British Columbia under a 2016 agreement with private sellers.

Pacific Ridge also said Four Nines Gold Inc.'s 70% earn-in option for the Mariposa project in Yukon territory was terminated. Four Nines Gold, formerly known as Eureka Dome Gold Inc., signed the deal in 2016.

Separately, the company said it plans to start a 1,250-meter drill program at the Spius copper project in June that will focus on copper soil anomalies. Pacific Ridge has the option to purchase the property in exchange for completing payment and spending milestones by the end of 2020.