Ridgeline Minerals Acquires Extensive Historical Database for the Big Blue Project, Nevada
Ridgeline Minerals Acquires Extensive
Historical Database for the Big Blue Project,
Nevada
Vancouver, British Columbia--(Newsfile Corp. - August 24, 2023) - Ridgeline Minerals Corp. (TSXV:
RDG) (OTCQB: RDGMF) (FSE: 0GC0) ("
Ridgeline
" or the "
Company
") is pleased to announce it has
acquired, at no cost to the Company, an extensive historical exploration database for the Big Blue
project ("Big Blue" or "Project") from an undisclosed third-party. Big Blue is a porphyry-CRD, copper
("Cu") - gold ("Au") - silver ("Ag") - lead ("Pb") - zinc ("Zn") exploration prospect in Elko County, Nevada,
which includes the past producing high-grade copper Delker Mine (See February 9, 2023 press release
HERE
). The newly acquired data is a modern geologic database consisting of detailed mapping,
surface geochemistry, drill data and multiple generations of surface and airborne geophysics. The data
has been thoroughly validated and incorporated into the Big Blue geologic model and is expected to
save significant time and exploration capital to advance the Project to a maiden drill program in 2024.
A
detailed summary of the historical database is highlighted below.
Mike Harp, Ridgeline's Vice President, Exploration commented, "The acquisition of this historical
dataset is a major step forward for the geologic model at Big Blue and significantly accelerates the
exploration process for our team. The geophysical surveys in particular highlight multiple potential
targets, including porphyry targets and a well-defined, northeast trending structural corridor that
extends between the historical Delker copper-gold Mine and Reyna Silver's Medicine Springs CRD
project located on our southwestern boundary. This untested structural trend represents a highly
prospective, six-kilometer-long target area that is bracketed on both ends by historical copper and
base metal mines. The database also suggests that the limited historical drilling that was conducted
on the project did not drill deep enough to adequately test geophysical anomalies located directly
beneath multi-percent copper mineralization that was historically mined from the Delker Mine and
Skarn Hill adit. Our team plans on integrating and reinterpreting the raw data sets to continue building
out the geologic mode with the goal of initiating a maiden drill campaign in 2024."
Historical Data Summary:
Geophysics
Two generations of magnetic surveys including a regional airborne survey and high-resolution
ground magnetics with a 3D inversion focused on the Delker Mine area (
Figure 1
&
Figure 2
)
Ground gravity survey with supporting 3D inversion (
Figure 1
)
Two induced polarization ("IP") lines focused on the Delker Mine and Skarn Hill adits
Significance - Airborne magnetics and IP lines highlight potential for porphyry source at depth while
ground magnetics and gravity surveys highlight key structural trends
Surface Geochemistry
Individual rock chip samples returned up to 5.5% Cu (
Figure 2
)
A total of 61 historical rock chips have been added to the Ridgeline database ranging from
below assay detection limits to 5.5% Cu (avg.0.42% Cu)
251 soil samples were collected on a 100x100m grid within outcrop and shallow alluvium in the
Delker Mine area
Significance - Rock chips confirm roughly 1.5 km long trend of high-grade Cu-skarn mineralization
on-trend of the Delker Mine and Skarn Hill adit.
Drilling
Six historical drillholes completed by Newmont and Exxon Minerals were drilled on the project for a
total of 1,177 meters with the deepest hole reaching a maximum depth of 1,177.3 meters (
Figure
1
)
Significance - Limited drilling on the property did not drill deep enough to test targets within
prospective limestone host horizons
Mapping
Multiple generations of detailed geologic mapping between 1989 and 1992
Significance - mapping highlights copper bearing felsic dikes that crosscut older Jurassic age
porphyries in the Delker Mine area
Geochronology
Regional age-dating program highlights up to six generations of Jurassic age porphyry intrusions
with multiple copper-bearing felsic dikes that crosscut the Jurassic intrusions
Significance -
Jurassic age porphyries are the same age range as Nevada's Yerington copper district
with mapped and crosscutting copper bearing dikes in the Delker Mine area suggesting the potential for
a Cretaceous age porphyry system (ie: Robinson copper district)
Big Blue Project
Big Blue is located in Elko County, Nevada, approximately seventy-five kilometers ("km") southeast of
the city of Elko, NV. The Project includes the past producing Delker Mine, which produced a reported
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. Mineralization occurs as high-grade skarn located proximal to northeast trending felsic dikes that
are interpreted as bleeding off a potential porphyry source located on or near the Big Blue property,
which has never been drill-tested. The primary target at Big Blue is porphyry-skarn Cu ± Au-Ag
mineralization, which may be the source of distal 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
nearby Selena project. A large portion of the Project is covered by shallow, post-mineral gravels
covering a roughly five (5) km target area resulting in limited surface expression of the porphyry system.
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's systematic approach to discovery (view Ridgeline's Corporate Deck
HERE
)
.
Figure 1
: Plan view map on the left showing Residual Gravity overlying Horizontal Gradient highlighting a
proposed northeast trending structural corridor. Reduced to Pole airborne magnetics on the right
highlight a kilometer scale magnetics "high" in the Delker Mine area.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/178366_ddd30ac7748e1905_002full.jpg
Figure 2
:
Delker Mine conceptual x-section A-A' showing 3D inversion of high-resolution ground
magnetics survey. Magnetic high sits directly below high-grade Delker Mine and multi-percent copper
rock chips associated with felsic dike swarm mapped at surface
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/178366_ddd30ac7748e1905_003full.jpg
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.
(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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/178366