Ridgeline Minerals Provides Drill Program Updates for Swift and Selena Gold-Silver Projects, Nevada
Vancouver, Canada, October 28, 2020 – Ridgeline Minerals Corp. (“Ridgeline” or the “Company”) (TSX-V: RDG) is pleased to provide a drill program update for its Swift gold project (“Swift”) and its Selena shallow oxide gold-silver project (“Selena”) in Nevada.
At Swift, the Company is in the process of completing the remaining 1,500 meters (“m”) of the planned 3,000m Phase I drill program, which is targeting the same carbonate (Lower Plate) host rocks that host the multi-million ounce Pipeline, Cortez Hills and Goldrush deposits on-trend to the southeast. All planned reverse circulation (“RC”) pre-collars are complete, and the program has recently transitioned to diamond drill core-tails, which will increase drilling productivity and allow the Company to collect higher quality downhole data. Drilling completed to-date has intersected favourable carbonate host rocks at relatively shallow depths (less than 600m vertical) with variable Carlin-Type alteration and mineralization assemblages noted within multiple carbonate debris flow horizons. The assay results for the first two holes are pending with anticipated completion of the program in late November.
Today at Selena, Ridgeline mobilized an RC drill rig to complete a minimum 1,500m Phase III drill program with the objective of increasing both the grade and thickness of previously announced (September 15, 2020) oxide gold-silver results from the Phase II drill program. Drilling will also test a highly elevated gold-arsenic-antimony surface soils anomaly that extends over a strike length of 1+ kilometer (“km”) between the Chinchilla and Juniper targets. Anticipated completion of the program is in late November with assay results to be released as they are received.
Phase II highlight drill results included:
- RC hole SE20-005: 6 m @ 1.62 g/t gold and 25.73 g/t silver starting at 35.1m downhole
- RC hole SE20-007: 3 m @ 0.41 g/t gold and 792.3 g/t silver starting at 135.6m downhole
- RC hole SE20-014: 29 m @ 0.38 g/t gold and 65.28 g/t silver starting at 126.5m downhole
Swift Project
Swift is located in the Cortez District of the historic Battle Mountain – Eureka Trend immediately adjacent to the historic Elder Creek gold mine and on trend to the Pipeline, Cortez Hills and Goldrush deposits (view our Swift VRIFY deck), which comprise the multi-million ounce Cortez Complex owned by Nevada Gold Mines (a joint venture between Barrick Gold and Newmont Gold). The property is located approximately 30 km south of the town of Battle Mountain, in Lander County, Nevada.
Selena Project
Selena is a shallow-oxide, gold-silver exploration play located on the southern extension of the Carlin trend just 12 km southeast of the Bald Mountain gold mine owned by Kinross Gold Corp (view our Selena VRIFY deck). The property is located approximately 64 km north of the town of Ely in White Pine County, Nevada.
About Ridgeline Minerals Corp.
Ridgeline is a discovery focused gold explorer with a 116 km² exploration portfolio across three 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.
Forward Looking Statements
This press release contains certain forward-looking statements, including statements with regard to the Offering. Words such as “expects”, “anticipates” and “intends” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions and no assurance can be given that the Offering will be completed on the terms described, or at all. Completion of the Offering and the terms thereof are subject to numerous factors, many of which are beyond Ridgeline’s control, including, without limitation, failure to satisfy closing conditions and the risk factors and other matters set forth in Ridgeline’s preliminary prospectus. Ridgeline undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.