Vancouver, British Columbia--(Newsfile Corp. - June 17, 2021) - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) ("Ridgeline" or the "Company") is pleased to announce that it has mobilized a core rig to the Carlin-East project in Elko County, Nevada (Figure 1). The 3,000-meter ("m") drill program will consist of three deep core holes targeting prospective Lower Plate carbonate host rocks of the Popovich and Bootstrap formations at the Company's Crash Zone target. The Crash Zone is centered along the intersection of the Four Corners and Crash fault zones and is a similar target to the Nevada Gold Mines ("NGM") owned North Leeville discovery hosted along the Four Corners fault zone located 3.5 kilometers ("km") to the south (Figure 2).
Mike Harp, Ridgeline's Vice President, Exploration commented, "Our team has spent two years building out the geologic model at Carlin-East with the Crash Zone representing the highest potential target across the property. We view Carlin-East as a rare opportunity for a junior explorer such as Ridgeline to drill an untested target directly on trend of a world-class gold deposit. Nevada Gold Mines recent discovery at North Leeville further highlights the potential for new discoveries along this underexplored portion of the Leeville Corridor."
Figure 1: Map showing Carlin-East Phase II drill hole locations in relation to North Leeville discovery.
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Carlin-East Target Concept
- The Leeville Structural Corridor is host to the multi-million-ounce Leeville, Four Corners, and Turf deposits as well as the recent North Leeville discovery, which are all bounded by the northeast trending Four Corners and Lynn fault zones.
- The Leeville Structural Corridor continues north of the Leeville mine towards the Carlin-East property with geologic mapping and gravity geophysics highlighting an uplifted block or horst of Lower-Plate carbonates interpreted as potentially shallower Popovich and Bootstrap Formation host rocks (Residual Gravity Map Click HERE).
- This structural corridor coincides with a pronounced surface soils (gold-arsenic-antimony) anomaly and mapped intrusive dike swarms with the strongest surface geochemistry centered on the Crash Zone target.
- Ridgeline drilling in 2019 intersected Lower Plate Rodeo Creek formation host rocks at 800m vertical depth along the western margin of the horst block (Figure 1) but were unable to complete the hole to target depth due to difficult drilling conditions encountered by the RC drill rig.
- The Phase II program will utilize RC pre-collars to depths of 400m followed by deep core tails to ensure drilling reaches target depths of 800 -1,000m.
Figure 2: Schematic X-Section B-B' showing drill hole CE21-003 targeting Lower Plate Popovich and Bootstrap formation host rocks on the footwall side of the Four-Corners fault zone.
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Carlin-East Project
Carlin-East is a Carlin-Type gold exploration project located within the prolific Carlin Trend. The project area straddles Eureka and Elko counties in Nevada and is comprised of 422 contiguous federal lode claims and fee lands totaling 35 km² of mineral rights. Historical and currently producing mines nearby include the Goldstrike, Leeville-Turf, Meikle-Rodeo, and Genesis-Bluestar operations. Exploration over the past 30 years was sporadic and restricted to gravity geophysics, surface geochemistry and shallow drilling (<300m) that never reached its intended Lower Plate target. (View the Carlin-East VRIFY Deck Here)
Technical information contained in this news release has been reviewed and approved by Michael T. Harp, P.Geo. the Company's Vice President, Exploration, who is Ridgeline's qualified person under National Instrument 43-101 and responsible for technical matters of this release.
About Ridgeline Minerals Corp.
Ridgeline is a discovery focused gold explorer with a proven management team and a 125 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
Ridgeline Minerals Corp.
1-866-RDG-NVAU (734-6828) - toll free
info@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 timing for release of additional drill results, plans to drill test prospective targets in 2021 and the potential advancement of mineral exploration, exploration drilling, development, and/or operating programs. The words "potential," "anticipate," "significant," "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 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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