Ridgeline Minerals Outlines 2022 Exploration Strategy
Vancouver, Canada, February 10, 2022 – Ridgeline Minerals Corp. (“Ridgeline” or the “Company”) (TSX-V: RDG | OTCQB: RDGMF | FRA: 0GC0) outlines it’s 2022 exploration strategy for the Company’s portfolio of five projects with a focus on our 100%-owned flagship asset, Selena, where drilling will commence in April 2022. See below for additional information on each project.
Chad Peters, Ridgeline’s President, CEO & Director commented, “Over the past three years our team has implemented a systematic and disciplined approach to exploration, which yielded a grassroots silver-gold-lead-zinc discovery at Selena and a partnership with Nevada Gold Mines at our Swift project. We will continue to create shareholder value by sticking to these core exploration principles with the focus of allocating exploration resources to our highest value opportunity projects, beginning with a 5,500-meter spring drill campaign at our 100%-owned Selena project.”
Selena
The Company’s primary exploration focus in H1 2022 will be confirming the potential for a high-grade Carbonate Replacement (“CRD”) silver-gold-lead-zinc (“Ag-Au-Pb-Zn”) discovery with planned exploration activities outlined below (see project map HERE):
- A high-resolution (25-50-meter (“m”) line spacing) drone magnetics geophysical survey is scheduled for mid-February to cover the entire CRD target area.
- Survey will improve targeting accuracy by delineating key structural intersections
- Commence a 5,500m (~8 hole) drill campaign in April that will test multiple structural intersections and fold axis, which are interpreted as the primary fluid conduits for higher-grade CRD mineralization based on the 2021 drill highlights below:
Figure 1: Conceptual long section A-A’ showing the CRD target to be drilled at Selena in spring 2022 with the Butte Valley porphyry to the west and Ridgeline’s original shallow-oxide discovery to the east.
Figure 2: Conceptual long section B-B’ located ~500m south of A-A’ showing Butte Valley intercepts such as BV-05, which highlight the potential continuity of the mineralized system across the 3.0km CRD target
- In 2021 the Company completed preliminary 24-hour non-kinetic bottle roll metallurgy tests across 10 composites taken from 2020 drill samples (2-millimeter diameter) with cyanide recoveries ranging from 5.9%-76.5% Au and 19.1%-50% Ag suggesting portions of the shallow oxide Au-Ag deposit are potentially amenable to heap leach processing methods
- To test the potential for a vat-leaching scenario, the Company followed-up on the non-kinetic bottle rolls with a 96-hour kinetic bottle roll test using two of the better performing composites in the first round of testing. The material was ground to 75 microns (0.075-millimeter size) and returned significantly improved recoveries of 83.3% Au and 43.2% Ag
- The Company emphasizes that the metallurgy testing focused on Au-Ag only and was completed before the Ag-Au-Pb-Zn zonation patterns to the greater CRD system were understood, and as such, are considered limited in scope and not representative of the CRD system that 2021 drilling identified at depth.
- A Phase I flotation test on CRD mineralization as well as additional vat-leach optimization studies may be implemented upon positive confirmation of the sulfide CRD target concept in the spring drill program
Swift
The Company executed an earn-in agreement (the “NGM Earn-In Agreement”) in Q3 2021 with Nevada Gold Mines (“NGM”), where 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 (see full press release HERE). NGM’s first drill program commenced in Q4 2021 with details of the anticipated 2022 work plan below:
- Initial framework drill hole (SW21-01) was completed in January 2022 to a depth of 968m with assays pending laboratory analysis (see project map HERE).
- Additional NGM drill programs anticipated in 2022 with information to be released as it becomes available.
Robber Gulch
The Robber Gulch Project represents a drill-ready, shallow-oxide Au discovery in an emerging district in Idaho that includes Liberty Gold’s multi-million-ounce Black Pine deposit (see project map HERE).
- Low-cost acquisition ($50,000 USD) and minimal land-holding costs in 2022 ($25,000 USD) make Robber Gulch an excellent addition to the portfolio.
- The Company will complete low-cost field work in H1 2022 including detailed field mapping and CSAMT geophysics with potential to add a maiden drill program in H2 2022.
- The Company further to its press release dated January 26, 2022, announcing the option agreement to acquire a 100% interest in the Robber Gulch project from Bronco Creek Exploration, a wholly owned subsidiary of EMX Royalty Corp has received acceptance of the transaction from the TSX Venture Exchange.
Bell Creek
The Company views the Bell Creek Project as a strategic asset with exploration activities on hold pending results of the NGM owned Ren maiden resource, located approximately 500m east of the Bell Creek property.
- It is expected that NGM will release the results of the Ren resource in H1 2022 which will define the next steps for advancing the property (see project map HERE).
Carlin-East
The Carlin-East Project is only 4km north of and directly on-strike of NGM’s high-grade North Leeville discovery, an extension of the multi-million-ounce Leeville-Turf mine (see project map HERE).
- In 2022, the Company will continue to assess NGM’s North Leeville exploration results as their drilling continues to advance towards Ridgeline’s Carlin-East Project.
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
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.