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Ridgeline Minerals Provides Drill Program Update at the Swift and Selena Projects
Vancouver, Canada, December 14, 2022 – Ridgeline Minerals Corp. (“Ridgeline” or the “Company”) (TSX-V: RDG | OTCQB: RDGMF | FRA: 0GC0) is pleased to provide an update on ongoing drill programs and exploration activities at the Company’s Selena and Swift projects in Nevada with a summary of drill program highlights below.
Chad Peters, Ridgeline’s President, CEO & Director commented, “We are excited to see two Ridgeline projects being drilled this fall, with exploration expenditures at Swift fully funded by our partners at Nevada Gold Mines. Drilling at both Selena and Swift will be complete before the end of the year, and we look forward to releasing assay results as they become available in 2023.”
Swift Project
Nevada Gold Mines (“NGM”) (Swift project operators) has completed two of three deep (1,000+ meters each) core holes as part of its 2022 framework drill program. The third core hole is in-progress with an anticipated completion date before the end of 2022.
- Barrick Gold (61.5% shareholder in the Nevada Gold Mines Joint Venture) highlighted “significant alteration and anomalous gold” at the Swift project in its November 18, 2022 Investor Day Presentation (see full presentation HERE) (Figure 1).
- All assays are currently pending with results expected in the first quarter of 2023.
Figure 1: Cortez District exploration slide (#13) from the Barrick Investor Day Presentation highlighting “significant alteration and anomalous gold” in its 2022 drill program at Swift (assays pending)
Selena Project
The Company has completed 6 of 7 holes to-date with an anticipated completion date on or before December 16, 2022 (Figure 2).
- Two holes were complete at the Chinchilla target with hole SE22-045 added at the end of the program to follow up on positive visual and handheld XRF observations inferred from hole SE22-039.
- One hole was drilled at the Juniper target to test the down-dip continuity of historical drill intercepts located ~500 meters to the east.
- Four wide-spaced core holes were drilled at the Broken Egg target to test multiple outcropping oxide gold targets.
- All assays are currently pending in the first quarter of 2023 with results to be grouped and announced by target.
Mike Harp, Ridgeline’s Vice President, Exploration commented on the Selena drill program, “This was the Company’s first core program conducted at Selena and we are encouraged by the alteration and mineralization observed in multiple holes so far. What was originally intended as a fall drill program quickly turned into a winter drill campaign, with winter weather conditions arriving a full month earlier than usual for the Selena project. As a result, we added a second drill rig in mid-November to ensure we tested all three targets as planned and deferred three of the ten holes budgeted for this program until next spring when weather conditions improve.”
Figure 2: Plan view map of Selena showing Q4 2022 drill hole locations (green dots) at the Chinchilla, Juniper, and Broken Egg targets
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 Minerals 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 & Director
Ridgeline Minerals Corp.
+1 775 304 9773
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.