Ridgeline Minerals Acquires District-Scale Porphyry Copper-Gold-Silver Project in Elko
Ridgeline Minerals Acquires District-Scale
Porphyry Copper-Gold-Silver Project in Elko
County, Nevada
Vancouver, British Columbia--(Newsfile Corp. - February 9, 2023) - Ridgeline Minerals Corp. (TSXV:
RDG) (OTCQB: RDGMF) (FSE: 0GC0) ("
Ridgeline
" or the "
Company
") is pleased to announce the
staking of the Big Blue Project, ("
Big Blue
" or the "
Project
") a high-grade porphyry copper ("Cu") - gold
("Au") - silver ("Ag") exploration prospect in Elko County, Nevada (
Figure 1
). The Company acquired
Big Blue via low-cost staking of 361 lode claims totaling 7,255 acres (29 square kilometers). The Project
is 100% owned by the Company and retains no underlying lease payments, work commitments or royalty
obligations.
The Big Blue Project includes the past producing Delker Mine, which produced 94,434 pounds of
copper at an average grade of 6.2% Cu between 1916-1917
1
and shares its southern boundary with
Reyna Silver's Medicine Springs Ag-Pb-Zn Carbonate Replacement ("CRD") project (
Figure 2
). A total
of nineteen (19) confirmation rock chip samples were collected by Ridgeline in late 2022 between the
Delker Mine workings and Skarn Hill adit, returning an average grade of 1.8% oxide Cu including a
highlight sample of
6.4% Cu, 0.2 grams per tonne ("g/t") Au, and 53.8 g/t Ag
at Skarn Hill (
Picture 1
&
Figure 2
).
The Project has seen limited exploration over the past 100+ years and represents an
opportunity to expand the known high-grade Cu-Au-Ag Skarn mineralization as well as discover new
deposit types including Cu-Au Porphyry and Ag-Au-Pb-Zn CRD style mineralization at depth and along
strike towards the Medicine Springs project.
Chad Peters, Ridgeline's President & CEO, commented, "This is the first project staked and
generated by our team in the Company's history and consolidates a core land position within a
historic but significantly underexplored porphyry district in Nevada. Our team's exploration thesis for
Big Blue is analogous to the Butte Valley porphyry Cu-Au system located roughly 60 km to the south,
which is inferred to be the source of CRD mineralization at our Selena project. Big Blue exhibits
similar potential to host new, high-grade porphyry-skarn copper discoveries as well as CRD
mineralization on-strike of the Delker Mine towards the Medicine Springs project, a known CRD
discovery being explored by Reyna Silver. The Project is royalty free with no underlying work
commitments and will be advanced alongside our growing CRD discovery at Selena."
Rock Chip Highlights:
Skarn Hill:
6.44% Cu, 0.16 g/t Au, 53.75 g/t Ag
(
Picture 1
&
Figure 2
)
Delker Mine:
4.88% Cu, 0.10 g/t Au, below detection limit ("BDL") Ag
(
Picture 1
)
Delker test pit:
6.31% Cu, 0.09 g/t Au, 4.21 g/t Ag
A total of 19 rock chip samples were collected during initial reconnaissance work ranging from
0.01-6.4% Cu, 0.009-0.2 g/t Au and BDL-53.8 g/t Ag (avg. 1.83% Cu, 0.05 g/t Au, 3.16 g/t Ag)
For a full table of rock chip values click
HERE
2023 Exploration Plans
Q1 2023 will focus on acquiring any available historical data for the Project to support an initial 3D
geologic model. The team will follow up with mapping and prospecting in the spring as well as select
Ridgeline operated backpack drill holes in the vicinity of the Delker Mine to chase shallow high-grade Cu
skarn mineralization. The Company will also begin permitting a Bureau of Land Management
administered Notice of Intent ("NOI") exploration permit 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 in the
second half of the year.
Figure 1
: Plan view map showing the location of the Big Blue project as well as Ridgeline's five other
exploration projects in Nevada and Idaho
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/154212_8f1f1f3d64d11bf3_002full.jpg
Picture 1
: Rock chip photos of high-grade Cu-Au-Ag oxide skarn from the Delker Mine and Skarn Hill
Adit
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/154212_8f1f1f3d64d11bf3_003full.jpg
Figure 2
: Plan view map showing high-grade Cu-Au-Ag rock chips taken from the Delker Mine
workings, Skarn Hill Adit and nearby test pits.
Note the Medicine Springs
2
CRD property boundary to the
south.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/154212_8f1f1f3d64d11bf3_004full.jpg
Big Blue Project
Big Blue is located in Elko County, Nevada, approximately 75 kilometers ("km") southeast of the city of
Elko, NV. The project shares a property boundary with the Medicine Springs Project, a Carbonate
Replacement type exploration project operated by Reyna Silver. Outcropping garnet skarn with high-
grade Cu ± Au-Ag rock chip samples collected by Ridgeline occurs on the Project on two outcropping
buttes surrounded by post-mineral gravels covering a roughly five (5) km target area zoning towards
Medicine Springs. The primary target at Big Blue is porphyry-skarn Cu ± Au-Ag mineralization, which
may be the source of CRD mineralization at Medicine Springs - analogous to the Butte Valley porphyry
Cu-Au system inferred to be a source of CRD mineralization at the Company's Selena project. The
100% owned Project is comprised of a total of 29 square kilometers of highly prospective exploration
ground that has seen limited exploration since the early 1900's and will benefit from the Ridgeline teams
systematic approach to discovery (view the Ridgeline Corporate Deck
HERE
)
.
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 is a discovery focused gold-silver explorer with a proven management team and a 192 km²
exploration portfolio across six 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
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 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.
Sources
1
Delker Mine Historic Production (Page 57): Smith, R.M., 1976, Mineral resources of Elko County, Nevada: U.S. Geological Survey Open-File
Report 76-56, 201 p.
2
Medicine Springs Results: https://reynasilver.com/system/uploads/RS-PressRelease-20230117.pdf
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/154212