swift
Swift is a Carlin-Type gold exploration project located in Lander county Nevada within the prolific Cortez district of the Battle Mountain – Eureka Trend. The claim block is comprised of 785 BLM claims (14,651 acres) and 3,697 acres of private fee ground for a combined total of 18,348 acres or 75 km² and is directly adjacent to the historic Elder Creek open-pit mine. Numerous multi-million ounce past and currently producing gold mines including the Pipeline, Cortez Hills, Fourmile and Goldrush deposits are located downtrend of Swift along the Cortez Structural Corridor. Ridgeline’s Phase I drill program in 2020 intersected altered and locally mineralized Wenban formation host rocks, which had not previously been identified at the Swift project by historic operators. This was a significant development for the company as the Wenban formation is the primary gold host for all >5.0 Moz. gold deposits across the Cortez District.
On September 22, 2021, the company announce that it had entered into a transaction with Nevada Gold Mines LLC (“NGM” or “Nevada Gold Mines”), a joint venture between Barrick Gold Corp. and Newmont Corp., pursuant to which NGM can incur a minimum of US$ 20 million (of which US$ 4 million is guaranteed) in qualifying work expenditures over an initial five-year term to earn an initial 60% interest in Swift. NGM will retain further options to increase its interest to a total 75% interest. NGM has assumed operatorship of the project immediately with highlights of the earn-in below:
QUICK FACTS
- Carlin-Type Gold
- High-Grade Gold – Silver (Underground Target)
- Placer Dome, Phelps Dodge, Minterra, Barrick
- Soil sampling grid, rock chips, trench sampling
- Gravity Survey, PRJ airborne magnetics, 3D magnetics inversion.
- Upper Plate Valmy Formation overlying Lower Plate Horse Canyon, Wenban and Roberts Mountain formations.
- 1:24,000 scale USGS map, reconnaissance outcrop mapping.
- Historic drilling tested the footwall of the DDF fault zone approximately 1.5 km east of MCK-99-5A and intersected Lower Plate host rocks of the Wenban, Roberts Mountain and Hanson Creek formations starting at 400m with highlight intercepts of:
- SW20-002
- 0.2 m grading 0.22 g/t Au and 860 g/t Ag starting at 872.5m
- 0.9 m grading 0.55 g/t Au and 6.6 g/t Ag starting at 926.5 m
- Historic drilling intersected Lower Plate host rocks of the Wenban and Roberts Mountain formations starting at 727m with a highlight intercept of:
MCK-99-5A
- 18.3m @ 0.65 g/t Au, 0.46 g/t Ag starting at 727m
- Including: 6.1m @ 1.31 g/t Au, 0.48 g/t Ag
