Ridgeline Minerals Stakes High-Grade, Carlin-Type Gold Project in Nevada
To view a summary of today’s press release by Ridgeline CEO Chad Peters, click HERE
Vancouver, Canada, January 7, 2025 – Ridgeline Minerals Corp. (“Ridgeline” or the “Company”) (TSX-V: RDG | OTCQB: RDGMF | FRA: 0GC0) is pleased to announce the staking of the Atlas Gold Project, (“Atlas” or the “Project“) a high-grade, oxide gold (“Au”) exploration prospect in Eureka County, Nevada (Figure 1). The Company acquired Atlas via the low-cost staking of 59 lode claims totaling 1,219 acres (5.0 square kilometers). The Project is 100% owned by the Company and retains no underlying lease payments, work commitments or royalty obligations.
The Project encompasses an approximately 3-kilometer (“km”) long by 0.5 km wide, gold in soils footprint that is supported by an extensive historical rock chip database of 346 samples, with highlight grades of up to 7.7 grams per tonne (“g/t”) Au and 3.2 g/t Au (Figure 2). Atlas exhibits classic Carlin-Type alteration and gold mineralization that outcrops at surface and is hosted by the same Pennsylvanian to Permian age host rocks as Orla Mining’s multi-million-ounce, Dark Star Deposit, located on the southern Carlin Trend. The Project has never been drilled and represents an opportunity to make a bulk tonnage, oxide gold discovery in the Carlin Trend.
Chad Peters, Ridgeline’s President & CEO commented, “Staking the Atlas project is a great example of our team’s ability to continue generating high quality exploration opportunities in mature districts in Nevada. Carlin-Type gold deposits continue to deliver some of the highest value per ounce in the ground anywhere in North America, and Atlas represents a low-risk opportunity with considerable exploration upside.”
Mr. Peters continues, “Furthermore, our Vice President of Exploration, Mike Harp, brings a unique perspective to exploration at Atlas, having previously led the discovery of the multi-million-ounce North Dark Star deposit, which is hosted in the same Penn-Perm host rocks and considered a direct analogue to the gold system at Atlas. Mike recognized the potential at Atlas immediately and our team is excited to get out in the field this spring and make a new gold discovery.”
Rock Chip Highlights:
- Historical rock chips up to 7.7 g/t Au, 3.2 g/t Au and 2.9 g/t Au (Figure 2)
- A total of 346 historical rock chip samples have been collected across the property ranging from 0.002-7.70 g/t Au (avg. 0.17 g/t Au)
- 136 of the rock chip samples returned grades of 0.10 g/t Au or higher
- 32 rock chip samples returned grades averaging 0.40 g/t Au or higher
- Ridgeline collected 9 rock chip samples during initial field reconnaissance ranging from 0.007-0.72 g/t Au (avg. 0.13 g/t Au)
- 136 of the rock chip samples returned grades of 0.10 g/t Au or higher
- A total of 346 historical rock chip samples have been collected across the property ranging from 0.002-7.70 g/t Au (avg. 0.17 g/t Au)
For a table of significant rock chip values click HERE
Soil Sample Highlights:
- A total of 447 historical soil samples were collected across the property ranging from below detection limit (“BDL”) to 0.12 g/t Au (avg. 0.008 g/t Au) (Figure 2)
- The kilometer-scale soils anomaly correlates well with both historical rock chips and outcropping jasperoid occurrences within Penn-Perm carbonate host rocks
2025 Exploration Strategy
The team will focus on 3D modelling and permitting initiatives in Q1, to prepare for a maiden drill program (3-5 holes) in Q2. Field mapping and additional rock chip sampling and prospecting are a high priority for the team, however, access to the site is weather dependent with limited field work anticipated in January and February. The Company anticipates the submittal of a Bureau of Land Management administered Notice of Intent (“NOI”) exploration permit in late Q1 to allow for up to five (5) acres of surface disturbance, which will be allocated to road and pad building to support a maiden drill program.
Figure 1: Plan view map showing the location of the Atlas oxide gold project as well as Ridgeline’s six other exploration projects in Nevada, which are a mix of 100%-owned and earn-in exploration agreements with Nevada Gold Mines and South32
Atlas Project
Atlas is located in Eureka County, Nevada, approximately 30 kilometers southwest of the town of Carlin, NV. The property exhibits classic Carlin-Type alteration and gold mineralization within outcropping Pennsylvanian to Permian age carbonate to siliciclastic host rocks. The primary target at Atlas is a bulk tonnage, oxide, Carlin-Type gold discovery, which is analogous to the nearby Dark Star gold deposit (part of the greater Railroad Mining District), which is currently owned by Orla Mining and advancing towards mine development. The 100% owned Project is comprised of a total of five square kilometers of highly prospective exploration ground that has never been drill tested and will benefit from the Ridgeline teams systematic approach to discovery (view the Ridgeline Corporate Deck HERE).
Figure 2: Plan view map of the Atlas property showing an untested 3-kilometer gold in soils and rock chip anomaly that is briefly broken up by shallow alluvium separating the north and south claim blocks
QA/QC Procedures
Samples are submitted to American Assay Laboratories (AAL) of Sparks, Nevada, which is a certified and accredited laboratory, independent of the Company. Independent check samples are sent to Paragon Geochemical Labs (PAL) of Sparks, Nevada. Samples are prepared using industry-standard prep methods and analysed using FA-PB30-ICP (Au; 30g fire assay) and ICP-5AM48 (48 element Suite; 0.5g 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. Mr. Harp has reviewed all available historical data and cross-referenced the results against Ridgeline samples and field observations and deemed the historical data adequate. However, the Company has only collected nine reconnaissance rock chip samples to date and further field work is required to confirm the results of the historical geochemical database. It is the QP’s opinion that the historical data should be considered historical in nature until the Company can verify with its own surface geochemical confirmation program.
About Ridgeline Minerals Corp.
Ridgeline Minerals is a discovery focused precious and base metal explorer with a proven management team and a 200 km2 exploration portfolio across seven projects in Nevada, USA. The Company is a hybrid explorer with a mix of 100%-owned exploration assets (Big Blue, Atlas, Bell Creek & Coyote) as well as two earn-in exploration agreements with Nevada Gold Mines at its Swift and Black Ridge projects and a third earn-in with South32 at its Selena project. 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
cpeters@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.