Ridgeline Minerals and Nevada Gold Mines Commence 6,000-meter Drill Program at the Swift Gold Project, Nevada
Ridgeline Minerals and Nevada Gold Mines
Commence 6,000-meter Drill Program at the
Swift Gold Project, Nevada
Vancouver, British Columbia--(Newsfile Corp. - July 30, 2025) - Ridgeline Minerals Corp. (TSXV: RDG)
(OTCQB: RDGMF) (FSE: 0GC0) ("
Ridgeline
" or the "
Company
") is pleased to announce the
commencement of a 6,000-meter program at the Company's Swift gold project ("Swift" or "Project"),
currently being operated under an exploration earn-in agreement with Nevada Gold Mines ("NGM")
(
Figure 1
).
NGM has approved a 2025 exploration budget of up to
US $5,000,000
. The drill program will build off
the success of the 2024 framework drilling campaign where both holes delivered significant gold
intercepts in the SW Swift target area including
1.1 meters ("m") grading 10.4 grams per tonne
("g/t") gold ("Au") within 2.7m grading 7.0 g/t Au in SW24-006 and 24.7m grading 0.5 g/t Au in
SW24-007
(see November 7, 2024 PR
HERE
).
Chad Peters, Ridgeline's President, CEO & Director commented, "Swift continues to be a core asset
in our exploration portfolio and represents just under 50% of our $11M exploration budget in 2025.
The Nevada Gold Mines teams' systematic approach to deep exploration at Swift yielded the first ever
high-grade gold intercept in our 2024 program, and we are very excited to see the results of this
aggressive drill campaign in 2025."
SW Swift Target
Four of the five holes are planned to test along strike of previous high-grade gold intercepts (up to 1.1m
grading 10.4 g/t Au in SW24-006) at the projected intersection of cross cutting fault zones (i.e., fluid
conduits) where they intersect a modeled fold hinge (i.e., fluid trap), on the hanging wall side of the Mill
Creek thrust (
Figure 2
).
Mill Creek Target
The fifth hole will step several kilometers to the north of SW Swift and test favourable Wenban formation
(primary Cortez District host rock) limestones along the hanging wall side of the Mill Creek thrust.
Historical drilling in the Mill Creek area intersected up to
3.0m grading 2.1 g/t Au within 18.3m
grading 0.6 g/t Au
(
Figure 2
).
For a complete table of Swift assay results click
HERE
To view Long Section A-A' click
HERE
NGM has incurred a total of
US $10,869,000
in qualifying work expenditures at the Project through June
30, 2025, and must spend a minimum of
US $20,000,000
in qualifying work expenditures by December
31, 2026, to earn an initial 60% interest in the Project (see September 22, 2021 press release
HERE
)
Figure 1
: Plan view map of the Cortez District showing the location of the Swift project and NGM's 2024
drill holes SW24-006 and SW24-007 (white stars) within a broader 4 square kilometer Au footprint (red)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/260613_904e39dab48c6aa0_003full.jpg
Figure 2
: Zoomed in plan view map of the Swift property showing prospective mineralized corridors to
be drill-tested in 2025 at the SW Swift and Mill Creek target areas
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/260613_904e39dab48c6aa0_004full.jpg
Swift Earn-In Terms
NGM retains the right to earn an initial 60% interest in the Swift project (see September 22, 2021 press
release
HERE
) over an initial five year term by incurring a minimum of US $20.0 million in qualifying work
expenditures. NGM retains the option to increase its interest up to 70% by incurring an additional
US$10.0 million in qualifying work expenditures before December 31, 2029. Within 90 days of a joint
venture decision to proceed with development and construction of a mine and/or related processing
facilities on Swift, NGM will have a one-time option to elect to provide, or arrange for third-party,
financing of Ridgeline's portion of debt financing required for the development in consideration, in either
case, for an additional 5% interest in the project for a total of 75% (or 65% if the second option was not
exercised).
QAQC Procedures
Samples are submitted to ALS Minerals, Elko Nevada, which is a certified and accredited laboratory,
independent of Nevada Gold Mines. Samples are prepared using industry-standard prep methods and
analysed using Au-AA23 (Au; 30 g fire assay) and ME-MS61 (48 element Suite; 0.25 g 4-acid
digestion/ICP- MS) methods. ALS also undertakes its own internal coarse and pulp duplicate analysis to
ensure proper sample preparation and equipment calibration. Nevada Gold Mines QAQC program
includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a
stringent review of all results completed internally by Nevada Gold Mines technical personnel.
Technical information contained in this news release has been prepared under the supervision of, and
approved by, Michael T. Harp, CPG, the Company's Vice President, Exploration. Mr. Harp is a "qualified
person" under National Instrument 43-101 -
Standards of Disclosure for Mineral Projects
.
About Ridgeline Minerals Corp.
Ridgeline Minerals is a discovery focused precious and base metal explorer with a proven management
team and a 200 km
2
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 totaling up to US $60 million in combined
partner-funded exploration expenditures. 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 assay
results for core hole SW24-004 and the potential significance thereof. The words "potential",
"anticipate", "meaningful", "significant", "pending", "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 the
Swift 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.
(8
) Source: Barrick Gold., 2024 Resource & Reserve Statement:
https://s25.q4cdn.com/322814910/files/doc_news/2025/01/Barrick-Grows-Gold-and-Copper-
Reserves-Significantly-Setting-It-Apart-From-Peers-as-It-Positions-for-Growth.pdf
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/260613