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Vancouver, British Columbia--(Newsfile Corp. - February 8, 2021) - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF ) (FSE: 0GC0) ("Ridgeline" or the "Company")is pleased to announce it has more than doubled the strike extent of the known silver-gold footprint at its Selena project by approximately 1.3 kilometers ("km") to the north of the Company's previously announced shallow-oxide, silver-gold discovery (See December 9, 2020 and January 20, 2021 news release). The expansion was made possible through the analysis of an extensive historical database acquired by Ridgeline at low-cost in January 2021. Of particular exploration significance are multiple shallow, silver-gold drill intercepts located at the Company's Sonic Target, which suggests the combined strike-length of shallow mineralization at Selena now extends 2.0km to the north-south and 1.2km to the east-west (Figure 1).
Mike Harp, Ridgeline's Vice President, Exploration commented, "The historical data more than doubles our existing geologic database, has highlighted future high-potential targets, and further supports our belief that Selena has the potential scale to host a large shallow-oxide, silver-gold deposit. The database also indicates that most of the historical drillholes did not drill deep enough to adequately test the Guilmette Limestone, host to our recent discovery and we see an opportunity to target this higher-grade horizon in our spring drill program."
Historical Data Highlights:
- Multiple drillholes returned shallow intercepts of silver and gold including:
- BV-01: 19.8m grading 6.4 grams per tonne ("g/t") silver ("Ag"), 0.31 g/t gold ("Au") or 30 g/t silver equivalent ("AgEq") starting at 6.1m (Table 1)
- BV-9: 16.8m grading 6.7 g/t Ag, 0.24 g/t Au or 25.0 g/t AgEq starting at 9.1m
- BV-11: 16.8m grading 6.9 g/t Ag, 0.13 g/t Au or 17.0 g/t AgEq starting at 3.0m
Significance - Historical drillholes expand the known mineralized footprint approximately 1.3km north of Ridgeline's new discovery.
- High-grade rock chips adjacent too and along strike of the Company's recent discovery include:
- Individual samples returned up to: 725.0 g/t Ag and 6.3 g/t Au, 73.0 g/t Ag and 12.4 g/t Au, and 13.0 g/t Ag and 7.0 g/t Au, (Figure 1)
- A total of 351 historical rock chips have been added to the Ridgeline database ranging from below assay detection limits to 725 g/t Ag and 12.4 g/t Au (avg. 8.6 g/t Ag and 0.22 g/t Au)
Significance - High-grade Ag-Au rock chips at surface show the strength of the mineralized system and highlight high-priority exploration targets for 2021 drilling.
Historical Data Summary:
- 51 historical drill holes totaling 3,635m including original drill logs and assay certificates
- Extensive surface geochemical database including 1,003 soil samples and 351 rock chip samples
- Geophysical database including detailed ground magnetic and induced polarization ("IP") surveys which are currently being re-processed by the Company's geophysical consultant
- Property-wide geologic maps and interpretive x-sections
Significance - Analysis of historical geologic database will allow company to more efficiently explore the property and highlights high-priority exploration targets for future drill programs.
Figure 1: Plan view map showing AgEq grade thickness ("GT") contours and surface rock chips samples
To view an enhanced version of Figure 1, please visit:
Table 1:Table of historical drill results, Click Here for a full table of Ridgeline exploration results
To view an enhanced version of Table 1, please visit:
Drill hole data has not been fully verified by the Company and is therefore considered historical in nature
Figure 2: Inclined Long-Section E-E' showing AgEq grade thickness contours and rock chip samples at surface with AgEq drillhole traces on section
To view an enhanced version of Figure 2, please visit:
To view X-sections A-A' Click Here , B-B' Click Here, C'C' Click Here, or D-D' Click Here
Selena is located in White Pine County, Nevada, approximately 64 km north of the town of Ely, NV, and 12 km southeast of the Kinross owned and operated Bald Mountain Gold Mine. The 100% owned property is comprised of 35 square kilometers of highly prospective exploration ground, which has seen limited (View the Selena VRIFY Deck Here) exploration activity over the past twenty years prior to being acquired by Ridgeline in 2019.
All samples are submitted to Paragon Geochemical Assay Laboratories (PAL) of Sparks, NV, which is a certified and accredited laboratory, independent of the Company. Samples are run through standard prep methods and analysed using AU-OES30 (Au; 30g fire assay AQR digest/ICP+10ppb Hg by MS) and 35AR-OESm (35 element Suite; 0.5g AQR digestion/ICP-MS; 10ppb Hg) methods. PAL 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 QP, Michael T. Harp, Vice President, Exploration.
Technical information contained in this news release has been reviewed and approved by Michael T. Harp, P.Geo. 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 explorer with a proven management team and a 125 km² exploration portfolio across four projects in the highly prospective Carlin and Battle Mountain - Eureka Trends in Nevada, USA. More information about Ridgeline can be found at www.RidgelineMinerals.com.
On behalf of the Board
President & CEO
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 timing for release of additional drill results, plans to drill test prospective targets in 2021 and the potential advancement of mineral exploration, exploration drilling, development, and/or operating programs. The words "potential," "anticipate," "significant," "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 the current objectives concerning its mineral projects 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; risk 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/73899