Ridgeline Minerals Provides Exploration Update
Vancouver, Canada, August 31, 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 and its Robber Gulch project in Idaho (Figure 1), with a summary of exploration highlights below.
Mike Harp, Ridgeline’s Vice President, Exploration commented, “We are excited to see substantial drill programs being completed at both Selena and Swift this fall, with drilling at Swift 100% funded by our partners at Nevada Gold Mines. At our wholly owned Selena project, we continue to discover new mineralized zones as a result of our team’s systematic approach to exploring this complex CRD system. Selena exhibits incredible exploration upside and our Q3 2022 drill campaign is an important first step towards expanding the shallow mineralized footprint across multiple zones as we advance the project to a maiden resource.
Selena Project
The Company has secured a core drill rig for a 10-15 hole drill program scheduled to begin in late September
- Drilling will target shallow (0-200 m), high-grade Ag-Au-Pb-Zn mineralization at multiple targets including Chinchilla, Juniper and Broken Egg (Figure 2) with the objective of defining multiple shallow-oxide mineralized zones with open-pit potential.
- The Carbonate Replacement Type (“CRD”) mineralization intersected in the Q2 2022 step-out drill program (see June 13, 2022 press release) returned a highlight intercept of 3.0 meters (“m”) grading 40.2 grams per tonne (“g/t”) silver (“Ag”), 3.0 g/t gold (“Au”), 0.2% (“Pb”) Pb, 6.8% zinc (“Zn”) and suggests that additional drilling may define higher-grade zones of CRD mineralization at depth.
- Selena now hosts three drill-confirmed deposit types across five mineralized zones within a 15 square km exploration footprint that remains open for expansion (Figure 2).
The Company acquired a ‘backpack’ drill rig in Q3 2022, which is operated by Ridgeline’s geologists and capable of drilling up to 20 m deep core holes (see photo HERE). Initial scout holes at the Broken Egg and Juniper targets returned:
- Broken Egg: 0.9m grading 2.4 g/t Au, (no significant base metal values) starting from surface in SEBP-001 with anomalous gold (up to 0.07 g/t Au) and elevated Carlin-Type pathfinder elements (As-Sb-Hg) continuing from 0.9 m to end of hole at 8.5 m (see core photo and assay table HERE)
- Juniper: 3.0m grading 95.2 g/t Ag, 1.1 g/t Au, 0.1% Pb and 0.3% Zn starting from surface in SEBP-002 with assays pending from 3.0 – 9.6 m downhole (see core photo and assay table HERE)
- Ridgeline’s geologist will continue to de-risk the upcoming September core program by drilling multiple backpack ‘scout’ holes at Broken Egg and Revival
Swift Project
Nevada Gold Mines (“NGM”) (Swift project operators) commenced the next phase of its framework drill campaign in August 2022.
- The drill program will complete a series of deep, wide-spaced core holes targeting favorable Devonian age carbonate host rocks to the southwest of 2021 drill hole SW21-001, which returned 9.1 m grading 0.51 g/t Au starting at 8.5 m downhole (see April 28, 2022 press release).
Robber Gulch Project
The Company has identified multiple outcropping shallow-oxide targets to be tested with the backpack drill rig in early Q4 2022 (see Robber Gulch long section HERE).
- Highest priority target is located ~500m south of and on-strike of historic drill hole AC-4 (0.34 g/t Au oxide over 57.9m) where the team will drill a 10-15m backpack drill hole beneath outcropping jasperoid that has returned rock chip samples up to 6.7 g/t Au.
Figure 1: Plan view map showing location of Ridgeline’s five projects in Nevada & Idaho
For additional information on the Company’s projects, click HERE
Figure 2: Plan view deposit zonation map of Selena with five drill-confirmed mineralized zones across three known deposit types (CRD Type Ag-Au-Pb-Zn, Sediment Hosted Ag-Au ± Pb-Zn, and Sediment Hosted Oxide Au).
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.