Ridgeline Minerals Reports 38.3 - 58.0 Million Tonne Silver-Gold Exploration Target at the Chinchilla Oxide Deposit, Selena Project
Ridgeline Minerals Reports 38.3 - 58.0 Million
Tonne Silver-Gold Exploration Target at the
Chinchilla Oxide Deposit, Selena Project
Vancouver, British Columbia--(Newsfile Corp. - February 12, 2026) - Ridgeline Minerals Corp. (TSXV:
RDG) (OTCQB: RDGMF) (FSE: 0GC0) ("
Ridgeline
" or the "
Company
") is
pleased to announce a
Mineral Exploration Target outlining the silver-gold-lead-zinc exploration potential at the Company's
outcropping Chinchilla Oxide Ag-Au-Pb-Zn deposit at the Selena project ("Selena" or "the Project"),
Nevada. The Company has completed preliminary 3D modelling at the Chinchilla Oxide deposit that
supports an exploration target of
38.3 - 58.0 million tonnes
("MT") of mineralized material grading
between
39.8 - 52.0 grams per tonne ("g/t") Ag
,
0.12 - 0.15 g/t Au
,
0.42% - 0.55% Pb
and
0.40% -
0.51% Zn
(
Figure 1
). The quantity and grade of the exploration target are conceptual in nature and there
has not been sufficient exploration to define a mineral resource. It is uncertain whether further exploration
will result in the exploration target being delineated as a mineral resource.
Figure 1
: X-Section C-C' showing the 38.3 - 58.0 MT, Ag-Au Exploration Target at Chinchilla Oxide
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/283678_1d8d753894a80aff_001full.jpg
Chad
Peters, Ridgeline's President, CEO & Director, commented, "The Chinchilla Oxide deposit was
Ridgeline's original outcropping Ag-Au oxide discovery made by the team in 2020 and we always
knew it had the potential to become a deposit of significant scale. Announcing a mineral exploration
target helps to further highlight this exciting opportunity and better frame the upside potential across
multiple mineralized zones at the Selena project. Chinchilla Oxide remains open along strike and
down-dip towards our recent Chinchilla Sulfide discovery with potential to expand the exploration
target and upgrade to a maiden mineral resource estimate with additional drilling."
Mr. Peters continues, "The Selena project exhibits over four kilometers of proven mineralized strike
between the outcropping Chinchilla Oxide zone and our recent high-grade CRD discovery at
Chinchilla Sulfide, which was made in collaboration with our partners at South32. Our strategy in 2026
will be to continue drill testing the Chinchilla Sulfide discovery to better understand the potential scale
and grade of the sulfide system, which will help our teams better understand the combined resource
potential of the greater mineralized system at Selena as we continue to grow this very exciting
polymetallic deposit."
Chinchilla Oxide Mineral Exploration Target
The Company believes the Chinchilla Oxide Zone has the potential to host:
38.3 to 58.0 MT
of
mineralized material ranging from
39.8 - 52.0 g/t Ag and 0.12 - 0.15 g/t Au
(
Figure 1
&
Figure 2
)
Pb-Zn grades range between
0.42% - 0.55% Pb
and
0.40% - 0.51% Zn
The Chinchilla Oxide zone remains open for expansion along strike and down-dip with additional infill
drilling required to complete a NI 43-101 compliant maiden resource estimate (
Figure 3
)
Chinchilla Oxide Highlight Drill Intercepts
SE22-045: 32.5 m grading 153.42 g/t Ag, 0.09 g/t Au, and 4.1% Pb-Zn
Including 6.1 m grading 480.52 g/t Ag, 0.1 g/t Au, and 18.4% Pb-Zn,
Including 0.7 m grading 1,347.73 g/t Ag, 0.11 g/t Au and 40.9% Pb-Zn
SE23-047: 60.7m grading 69.8 g/t Ag, 0.4 g/t Au, and 1.8% Pb-Zn
Including 7.7m grading 146.5 g/t Ag, 0.9 g/t Au, and 1.7% Pb-Zn
SE21-025: 44.2m grading 123.2 g/t Ag, 0.1 g/t Au, and 2.1% Pb-Zn
Including 7.6m grading 237.8 g/t Ag, 0.2 g/t Au, and 3.8% Pb-Zn
(
Figure 1
)
For a complete table of Selena assay results click
HERE
Mineral Exploration Target Database
The exploration target assay database is comprised of:
Thirty-three (33) RC and Core drillholes totaling 8,250.3m and 5,650 assay samples
Five (5) surface trenches totaling 180.4m and 122 assay samples
Select bottle roll metallurgical testing on Chinchilla Oxide RC composites in 2021 averaged
31.5%
- 50.0% Ag and 76.7% - 83.3% Au
cyanide solubility suggesting the deposit may be amenable to
heap leach processing methods
The Company's metallurgical consultant has indicated that additional metallurgical testing on
drill core samples (vs. original RC samples) is required and may materially improve bottle roll
cyanide solubility results for silver
Core drilling at Selena (2023-2025) has confirmed that RC drilling methods were "washing"
out the Ag-rich clays in the oxide zone, diluting grades and effectively reducing overall
cyanide solubility
Neither Pb nor Zn were analyzed during the 2021 bottle roll program with additional testing
required to define potential cyanide solubility ranges of either metal
The metallurgical recoveries at Chinchilla Oxide do not apply to the potential metallurgical
recoveries at the Chinchilla Sulfide discovery, which is sulfide mineralization that would require a
different milling process
The Chinchilla Oxide exploration target has been prepared under NI 43-101 guidelines for Mineral
Exploration Target reporting and utilized a 3
rd
party qualified person ("QP") for all grade shell models
and interpolations. Grade interpolations utilized a low-grade cutoff of 15.0 g/t Ag with three-meter
composites and a radial basis function ("RBF") numeric model. The quantity and grade of the
exploration target are conceptual in nature and there has not been sufficient exploration to define a
mineral resource. It is uncertain whether further exploration will result in the exploration target being
delineated as a mineral resource. The exploration target model has not been evaluated for reasonable
prospects of potential economic extraction.
Figure 2
: Long Section A-A' showing the Company's Mineral Exploration Target at the Chinchilla Oxide
deposit and the new CRD discovery (red star) at the Chinchilla Sulfide zone ~2.5km downdip to the west
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/283678_1d8d753894a80aff_002full.jpg
Figure 3
: Plan view map showing the Mineral Exploration Target at Chinchilla Oxide, future shallow oxide
exploration targets at Juniper, and the 2025 Chinchilla Sulfide CRD discovery in hole SE25-053
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/283678_1d8d753894a80aff_003full.jpg
Table 1
: Summary of potential tonnes and grade ranges for the Au-Ag-Pb-Zn zone at Chinchilla Oxide
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/283678_1d8d753894a80aff_004full.jpg
The Project is currently operated by Ridgeline under Phase 1 of an earn-in agreement with a wholly
owned subsidiary of South32 Limited ("South32"), where South32 may earn up to an 80% interest in the
Project by satisfying all commitments under the earn-in agreement (see August 22, 2024 news release
HERE
).
QA/QC Procedures
HQ and NQ core samples are split in ½ with samples 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.
The 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" as defined under National Instrument 43-101 -
Standards of Disclosure for Mineral
Projects
.
Selena Project
Selena is located in White Pine County, Nevada, approximately 64 kilometers ("km") north of the town of
Ely, NV. The Project is currently being operated by Ridgeline under Phase 1 of an earn-in agreement
South32 and shares a property boundary with the Butte Valley project, a $33M earn-in agreement
between Freeport-McMoRan and the underlying owner, Falcon Butte Minerals. The Project is comprised
of 39 square kilometers of highly prospective exploration ground including Ridgeline's shallow-oxide Ag-
Au ± Pb-Zn Chinchilla Oxide and deeper Chinchilla Sulfide discoveries. Subsequent drilling has
continued to highlight the potential for high-grade CRD type mineralization (Ag-Zn-Pb-Au ± Cu-Sb-W)
between Chinchilla Oxide and Freeport-McMoRan's Butte Valley Cu-Au-Ag-Zn porphyry located directly
west of the property. For additional information regarding the South32 earn-in agreement terms view the
August 22, 2024 news release
HERE
.
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. 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.
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https://www.newsfilecorp.com/release/283678