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Ridgeline Minerals Completes Drone Magnetics Survey and Confirms High-Priority Drill Targets at Selena Project, Nevada
Vancouver, Canada, March 22, 2022 – Ridgeline Minerals Corp. (“Ridgeline” or the “Company”) (TSX-V: RDG | OTCQB: RDGMF | FRA: 0GC0) is pleased to announce the completion of a high-resolution, 388 line-kilometer drone magnetics geophysical survey at the Company’s flagship Selena project, a silver-gold-lead-zinc carbonate replacement deposit (“CRD”) located in White Pine County, Nevada. The purpose of the survey was to increase drill targeting confidence along key fault intersections associated with the conceptual CRD drill target located on-strike of Ridgeline’s original shallow-oxide, silver-gold discovery and the Butte Valley copper-gold-silver porphyry located off the western edge of the property. Results of the survey correlated well with the existing structural and surface geochemical model, but also highlighted multiple previously unidentified structural targets under shallow pediment cover (Figure 1).
Ridgeline has also received approval for an amended Notice of Intent exploration permit with the Bureau of Land Management for an additional nine (9) drill sites in the CRD target area with the 5,500-meter (“m”) program scheduled to commence in April. Highlights of the magnetics survey and drill plan are below.
Mike Harp, Ridgeline’s Vice President, Exploration commented, “Our team has been systematically advancing the CRD target concept at Selena with the discovery of polymetallic mineralization in multiple drillholes during our 2021 exploration drilling campaign. Extensive geologic mapping has since identified key field relationships at Selena that are consistent with other established CRD systems and, when combined with the surface geochemical zonation patterns, suggest that the core of the CRD target lies down-dip and to the west of our original discovery. The addition of the magnetics data was the missing piece to our interpretation, and we now have the confidence in our structural model that is required to go after this very exciting target.”
Magnetic Survey Highlights
- The 388 line-kilometer magnetic survey was conducted by EarthEx Geophysical Solutions and utilized a mix of 25m to 50m line spacings across the core target area to provide the highest possible structural resolution heading into the 2022 spring drill program:
- The Magnetic survey and its corresponding 3D inversion highlights north-south oriented magnetic “lows” (cooler colours) interpreted as silica flooding along feeder thrust faults which coincide with high-grade 2021 drill intercepts (Figure 1)
- High-priority CRD drill targets to the west of 2021 drilling are located at multiple fault intersections, which coincide with pronounced magnetic “lows” interpreted as zones of high fluid-flow and permeability (Figure 2 & Figure 3)
- Magnetic “high” (warm colours) in the southwest corner of the survey highlights a new exploration target interpreted as potential limestone replacement skarn alteration associated with the margins of the Butte Valley porphyry located directly west of the property boundary (Figure 1)
Drill Program Highlights
Figure 1: iView2 Magnetics map (EarthEx processing method) highlights thrust faults and coincident magnetic “lows” associated with Ag-Au-Pb-Zn mineralization at the original Selena Discovery. The 2022 CRD drill program will target similar magnetic “lows” under shallow cover to the west.
Click HERE to view a 1st Vertical Derivative Magnetics Map
Figure 2: Conceptual long section A-A’ showing the CRD target to be drilled in spring 2022. Magnetics survey highlights structurally controlled magnetic “lows” which correlate closely with 3D inversion isosurfaces in the CRD target area
Figure 3: Conceptual long-section B-B’ located ~750m south of A-A’ showing Ridgeline drill intercepts located over 4km to the east of historical Butte Valley Cu-Au-Ag-Pb-Zn intercepts in drillhole BV-05
Selena Project
Selena is located in White Pine County, Nevada, approximately 64 km north of the town of Ely, NV, and 25 km southeast of the Kinross owned and operated Bald Mountain Gold Mine. The 100% owned property is comprised of 39 square kilometers of highly prospective exploration ground including Ridgeline’s 2020 Ag-Au ± Pb-Zn discovery. Drilling in 2021 highlighted the potential to target high-grade CRD type mineralization (Ag-Au-Pb-Zn ±Cu) between Ridgeline’s original discovery and the Butte Valley Cu-Au-Ag porphyry located directly west of the property. (View the Selena VRIFY Deck Here)
Technical information contained in this news release has been reviewed and approved by Michael T. Harp, CPG. 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-silver explorer with a proven management team and a 163 km² exploration portfolio across five projects in Nevada and Idaho, 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
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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 TSX Venture Exchange approval will be granted in a timely manner subject only to standard conditions; the current objectives concerning the Project 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.