Ridgeline Minerals Commences Drill Program at the Selena CRD Project, Nevada
Vancouver, Canada, July 24, 2023 – Ridgeline Minerals Corp. (“Ridgeline” or the “Company”) (TSX-V: RDG | OTCQB: RDGMF | FRA: 0GC0) is pleased to announce the commencement of the Company’s diamond core drill program at the Selena project (“Selena”). Selena is host to a silver (“Ag”) – gold (“Au”) – lead (“Pb”) – zinc (“Zn”) carbonate replacement (“CRD”) style discovery located in White Pine County, Nevada (Figure 1).
The drill program has been designed to follow-up on bonanza grade CRD intercepts drilled at the Chinchilla zone in 2022, with highlights including 6.1 meters (“m”) grading 480 grams per tonne (“g/t”) Ag, 12.0% Pb, 6.4% Zn, and 0.1 g/t Au in SE22-045 and 0.5 m grading 1,793 g/t Ag, 2.2% tungsten (“W”) and 0.5% copper (“Cu”) in SE22-039 (see January 24, 2023 press release HERE). The program will complete up to six (6) core holes for a total of 3,000 m with results to be released as they are received (Figure 2).
Mike Harp, Vice President, Exploration commented, “Last year’s program delivered the best intercepts in the project’s history. It also confirmed our theory that core drilling would significantly upgrade historical reverse circulation assay results, indicating substantial upside as we convert historically drilled RC intercepts to core. Our 2023 program will build off that success and focus on expanding the high-grade mineralization at two known “chimney” or feeder structures that make up the core of the Chinchilla Zone. We will also drill the lower half of the Guilmette Limestone host rocks, which we believe have potential to host multiple stacked CRD horizons adjacent to known chimney structures.”
Selena Project
Selena is located in White Pine County, Nevada, approximately 64 kilometers (“km”) north of the town of Ely, NV. The project shares a property boundary with the Butte Valley project, a US $33M earn-in agreement between Freeport-McMoRan and Falcon Butte Minerals. The 100% owned project is comprised of 39 square kms of highly prospective exploration ground including Ridgeline’s shallow-oxide Ag-Au-Pb-Zn Chinchilla discovery. Subsequent drilling has continued to highlight the potential for high-grade CRD type mineralization (Ag-Au-Pb-Zn ±Cu) between Chinchilla and the Butte Valley Cu-Au-Ag porphyry located directly west of the property. (View the Selena VRIFY Deck Here)
Figure 1: Plan view map showing location of the Selena project which sits directly adjacent to the Butte Valley Porphyry, a US $33M earn-in exploration agreement between Freeport-McMoRan and Falcon Butte Minerals
Figure 2: X-Section C-C’ with scaled plan view map showing past Chinchilla zone intercepts and proposed chimney and manto targets to be tested beneath known high-grade CRD intercepts
QAQC Procedures
Samples are submitted to American Assay Laboratories (AAL) of Sparks, Nevada, which is a certified and accredited laboratory, independent of the Company. Samples are prepared using industry-standard prep methods and analysed using FA-PB30-ICP (Au; 30 g fire assay) and ICP-5AM48 (48 element Suite; 0.5 g 5-acid digestion/ICP-MS) methods. AAL 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 Qualified Person, Michael T. Harp, Vice President, Exploration.
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 192 km² exploration portfolio across six 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
(775) 304-9773 | 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 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.