Ridgeline Minerals Completes Phase III Drill Program at the Selena Gold-Silver Project, Nevada
Vancouver, Canada, November 25, 2020 – Ridgeline Minerals Corp. (“Ridgeline” or the “Company”) (TSX-V: RDG) is pleased to announce the completion of its Phase III reverse circulation (“RC”) drill program totaling 1,718 meters (“m”) across eight drill holes ranging from 75m to 350m drill depth at its Selena gold-silver project in Nevada. The program objective was to test two priority target areas with drill hole SE20-015 to SE20-018 testing the Juniper fault zone along strike of RC hole SE20-014, which returned 29.0m grading 0.38 g/t gold, 65.28 g/t silver in the Phase II drill program (see September 15, 2020 Press Release). Drill hole SE20-019 to SE20-022 tested multiple Gold-Arsenic-Antimony soils anomalies along the Tyrent fault, which is located approximately 500m to the west of the Juniper fault (Figure 1). All drill samples have been submitted to the lab for analysis with results to be released as they are received.
Figure 1: Map showing the Phase III drill holes testing the Juniper and Tyrent fault zones
Selena Project
Selena is in White Pine County Nevada, approximately 64 kilometers (km) north of the town of Ely, NV, and 12 km southeast of the Kinross owned and operated Bald Mountain Gold Mine. The 100% owned property is comprised of 33 square kilometers of highly prospective ground and had seen limited (view our Selena VRIFY deck) exploration activity over the past twenty year prior to being acquired by Ridgeline in 2019.
Long Term Incentive Plan
Ridgeline announces that pursuant to the Company’s long-term incentive plan (“LTIP”) it has granted 270,000 incentive stock options, 570,000 deferred share units (“DSUs”) and 175,000 restricted share units (“RSUs”) to certain directors, officers and employees that are exercisable and issuable for up to 1,015,000 common shares in the Company. The stock options are exercisable at C$0.36 per share, have an expiration date at November 24, 2025, and vest upon grant. The RSUs vest between November 2021 and November 2023.
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/ICP+10ppb Hg by MS) and 35AR-OESm (35 element Suite; 0.5g AQR 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.
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 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.