Vancouver, British Columbia--(Newsfile Corp. - October 27, 2021) - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) ("Ridgeline" or the "Company") is pleased to provide an update on Q3-Q4 2021 exploration activities at the Company's four exploration projects in the Carlin and Battle Mountain - Eureka trends of Nevada (Figure 1), with a summary of exploration highlights below.
Q3-Q4, 2021 Exploration Highlights:
- Swift Project, Company completed closing of a US$20M earn-in exploration agreement with Nevada Gold Mines ("NGM") at the Swift project on September 22, 2021 (See full Press Release HERE)
- Carlin-East Project, Phase II drill program completed in mid-October for a total of 2,272 meters ("m") drilled (assays pending in Q4)
- Selena Project, Infill soil sampling and field mapping in progress over carbonate replacement targets
- Bell Creek, Recent NGM consolidation of the nearby South Arturo mine highlights strategic nature of the Bell Creek property
Mike Harp, Ridgeline's Vice President, Exploration, commented, "It's been a very busy 2021 exploration campaign since completing our IPO last year. In this short time frame, we've executed an earn-in agreement on the Swift Project with Nevada Gold Mines, identified a new CRD target at our shallow-oxide Selena discovery, and completed our deep drill program at the Carlin-East Project. With our team's systematic approach to exploration, we will continue to seek, identify and create shareholder value by advancing assets with the greatest upside and we anticipate multiple catalysts for the Company heading into our 2022 exploration programs."
Figure 1: Plan view map showing location of Ridgeline's four projects in Nevada
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7298/100978_46b5fc102473e9e2_002full.jpg
Swift Project, Company closed a US$20M earn-in exploration agreement with Nevada Gold Mines ("NGM") at the Swift project on September 22, 2021
- Technical team is working closely with NGM team to complete project hand-off.
- First steering committee meeting planned for November 2021
- 800 station soil sampling program, field mapping, prospecting, and target generation in-progress
- Phase I framework drilling campaign to be in initiated in Q4, 2021
- US$372,763 closing reimbursement cash payment received
Carlin-East Project, Phase II drill program complete mid-October with 2,272 meters ("m") drilled. All drill samples have been logged, split and submitted to the lab for analysis with results expected in Q4, 2021
- CE21-003 was completed to a depth of 1,254 m (assays pending) with multiple imbricate thrust/fault zones intersected throughout the bottom 400 m of the hole.
- Ridgeline's technical team is working closely with Carlin Trend experts to better understand the projects structural and lithologic controls
- Due to difficult drilling conditions, the Company deferred additional drilling until results from CE21-003 are received and incorporated into the Company's geologic model to determine next exploration steps at the project
- Drilling intersected a thick section (1000+ meters) of heavily faulted and structurally complex Upper Plate rock (above target zone) which slowed progress
- CE21-005 was lost at 555m depth in a fault zone with the formation stabilized with cement during abandonment to allow for potential drillhole re-entry
- CE21-004 is pre-collared and cased to a depth of 463 m and ready for a future core-tail
- Drilling intersected a thick section (1000+ meters) of heavily faulted and structurally complex Upper Plate rock (above target zone) which slowed progress
Selena Project, Technical team is focused on delineating high-priority Ag-Pb-Zn ± Au Carbonate Replacement Deposit ("CRD") targets previously identified in the 2021 drill program. Significant high-grade intervals include:
- 4.6 m grading 421 grams per tonne ("g/t") silver ("Ag"), 0.6 g/t gold ("Au") 4.4% lead ("Pb"), 3.7% zinc ("Zn") in SE21-024
- 13.7 m grading 221.1 g/t Ag, 0.1 g/t Au, 2.2% Pb, 0.5% Zn in SE21-025
- Surface geochemical soil sampling, field mapping and geophysical surveys were initiated in Q4 2021 and will extend through Q1 2022 over the CRD target area in anticipation of early Q2 2022 drill program
- Plan of Operations (PoO) exploration permit for an additional 200 acres of exploration disturbance was submitted to state and federal agencies in October 2021 with approval anticipated in Q3-Q4 2022
For additional project information click HERE to access the Company's corporate presentation
QAQC Procedures
All samples are submitted to Paragon Geochemical Assay Laboratories (PAL) of Sparks, NV, which is a certified and accredited laboratory, independent of the Company. Samples are run through standard prep methods and analysed using AU-OES30 (Au; 30g fire assay AQR digest) and 34MA-OESm (35 element Suite; 0.5g 4-acid digestion/ICP-MS; + 10ppb Hg) methods. PAL also undertakes its own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. Ridgeline's QA/QC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results completed by the Company's QP, Michael T. Harp, Vice President, Exploration. Mr. Harp is a qualified person within the meaning thereof under National Instrument 43-101 and has reviewed and approved all technical matters of this press release.
About Ridgeline Minerals Corp.
Ridgeline is a discovery focused gold-silver explorer with a proven management team and a 154 km² exploration portfolio across four projects in the highly prospective Carlin and Battle Mountain - Eureka Trends in Nevada, USA. More information about Ridgeline can be found at www.RidgelineMinerals.com.
On behalf of the Board
"Chad Peters"
President & CEO
Further Information:
Chad Peters, P.Geo.
President, CEO & Director
Ridgeline Minerals Corp.
+1 775 304 9773
cpeters@ridgelineminerals.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Cautionary Note regarding Forward Looking Statements
Statements contained in this press release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, the anticipated benefits of the Earn-In Agreement and the transaction contemplated thereby. The words "potential", "anticipate", "meaningful", "discovery", "forecast", "believe", "estimate", "expect", "may", "will", "project", "plan", "historical", "historic" and similar expressions are intended to be among the statements that identify Forward-Looking Information. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed or implied by the Forward-Looking Information. In preparing the Forward-Looking Information in this news release, Ridgeline has applied several material assumptions, including, but not limited to, assumptions that the current objectives concerning its mineral projects (including Swift) can be achieved and that its other corporate activities will proceed as expected; that general business and economic conditions will not change in a materially adverse manner; and that all requisite information will be available in a timely manner. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Ridgeline to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, risks related to dependence on key personnel; risks related to unforeseen delays; risks related to historical data that has not been verified by the Company; as well as those factors discussed in Ridgeline's public disclosure record. Although Ridgeline has attempted to identify important factors that could affect Ridgeline and may cause actual actions, events, or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Ridgeline does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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