Ridgeline Minerals Acquires Historical Drill Database at the Selena Project, Highlights Include 725.2 g/t Ag, 1.5 g/t Au, 1.3% Pb, 0.9% Zn over 7.7 meters Click HERE for a summary of today's press release by CEO Chad Peters
Ridgeline Minerals Acquires Historical Drill
Database at the Selena Project, Highlights
Include 725.2 g/t Ag, 1.5 g/t Au, 1.3% Pb, 0.9%
Zn over 7.7 meters
Click
HERE
for a summary of today's press release by CEO Chad Peters
Vancouver, British Columbia--(Newsfile Corp. - June 8, 2022) - Ridgeline Minerals Corp. (TSXV: RDG)
(OTCQB: RDGMF) (FSE: 0GC0) ("
Ridgeline
" or the "
Company
") is pleased to announce that the
Company has acquired the historical database for all outstanding surface and drillhole data at the
Selena Project ("Selena") from NevGold Corp., operators of the adjacent Limousine Butte project to the
north of Selena. The data was acquired in May 2022 and includes an extensive drillhole database of one
hundred and four drill holes, many of which overlapped with Ridgeline's existing database. However, six
holes drilled in 2010 contained shallow, high-grade silver ("Ag"), gold ("Au"), lead ("Pb") and zinc ("Zn")
drill intercepts at the Company's previously identified Juniper Target ("Juniper"), located approximately 1
kilometer south of Ridgeline's original shallow-oxide, Ag-Au discovery ("Chinchilla") (
Figure 1
). Highlight
intercepts from the historical drillholes at Juniper include
0.3 meters ("m") grading 6,667 grams per
tonne ("g/t") Ag, 7.7 g/t Au, 1.6% Pb, 0.2% Zn
and
1.0 m grading 2,467.2 g/t Ag, 5.1 g/t Au, 1.1%
Pb, 1.4% Zn
within
7.7m 725.2 g/t Ag, 1.5 g/t Au, 1.3% Pb, 0.9% Zn
starting at 15.5 m in core hole
LB-072 (Table 1).
Chad Peters, Ridgeline's President and CEO, commented, "We would like to extend a sincere thank
you to our friends at NevGold Corp. for facilitating this data transfer and we couldn't be happier with the
results - the highest-grade silver and gold intercepts ever drilled at the Selena project.
"
This addition to our database continues to strengthen our interpretation that Selena is host to a zoned
porphyry system with the potential to discover multiple deposit types. Our team has identified five
priority target zones across the property which include an ongoing drill program testing the Ag-Au-Pb-
Zn CRD, confirmed discoveries at both Chinchilla and Juniper, and the early-stage Revival and
Broken Egg targets, which exhibit similar silver and gold mineralization at surface. We are still very
early in the discovery process, and we look forward to updating our shareholders as this district-scale
story continues to evolve."
Summary of Historical Drill Intercept Highlights:
LB-066:
0.3m grading 528.2 g/t Ag, 2.1 g/t Au,
starting at surface (no significant Pb or Zn values)
And 4.8m grading 213.9 g/t Ag, 1.2 g/t Au, 0.3% Pb, 0.2% Zn starting at 10.4m
LB-069: 3.7m grading 453.5 g/t Ag, 1.0 g/t Au, 0.4% Pb, 0.6% Zn starting at 9.4m
LB-070:
1.1m grading 1,195.2 g/t Ag, 3.0 g/t Au, 0.2% Pb, 0.1% Zn
within
12.5m grading 306.9 g/t Ag, 0.9 g/t Au, 0.1% Pb, 0.3% Zn
starting at 11.9m
(
Figure 1
&
Figure 2
)
LB-072:
0.3m grading 6,667 g/t Ag, 7.7 g/t Au, 1.6% Pb, 0.2% Zn
and
1.0m grading 2,467.2 g/t Ag, 5.1 g/t Au, 1.1% Pb, 1.4% Zn
within
7.7m grading 725.2 g/t Ag, 1.5 g/t Au, 1.3% Pb, 0.9% Zn
starting at 15.5m
(
Figure 2
) (See core photo
HERE
)
LB-087: 7.6m grading 221.6 g/t Ag, 1.3 g/t Au, 0.1% Pb, 0.3% Zn starting at 13.7m
LB-103: 4.9m grading 235.4 g/t Ag, 0.8 g/t Au, 0.5% Pb, 0.9% Zn starting at 11.4m
To view Table 1 of historical assay results
Click HERE
Historical Rock Chip Highlights:
Individual rock chip samples returned up to: 1,320 g/t Ag and 25.6 g/t Au, 1,485 g/t Ag and 17.8 g/t
Au, and 2,430 g/t Ag and 8.5 g/t Au, (
Figure 3
)
Additional 1,039 historical rock chips have been added to the Ridgeline database (for a total of
1,682 samples) ranging from below assay detection limits to 2,450 g/t Ag and 25.6 g/t Au (avg.
30.9 g/t Ag and 0.4 g/t Au)
Historical Data Validation
The Company's Qualified Person ("QP"), Michael T. Harp, Vice President, Exploration has completed a
stringent review of the historical data including a review of the mineralized core intercepts, which are in
Ridgeline's possession. The QP has also reviewed all available drill logs, assay sheets and identified
select drill collar locations in the field. The original assay pulps are in Ridgeline's possession but have
not been re-assayed by the Company. Surface data includes geologic maps, soil samples, and rock
chips which have been cross checked against existing Ridgeline surface data and correlate well with the
existing project dataset.
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. The historic data
collection and chain of custody procedures by previous operators appears adequate but the Company
has not yet independently confirmed the results of the drill assays. It is the QP's opinion that the historical
drill data should be considered historical in nature until the Company can verify with its own confirmation
drill program.
Selena Project
Selena is located in White Pine County, Nevada, approximately 64 kilometers ("km") north of the town of
Ely, NV, and 25 km southeast of the Kinross owned and operated Bald Mountain Gold Mine. The 100%
owned Selena project is comprised of 39 square kms of highly prospective exploration ground including
Ridgeline's 2020 Ag-Au ± Pb-Zn discovery. Drilling in 2021 highlighted the potential to target high-grade
CRD type mineralization (Ag-Au-Pb-Zn ±Cu) between Ridgeline's original discovery and the Butte Valley
Cu-Au-Ag porphyry located directly west of the property.
(View the Selena VRIFY Deck Here)
Figure 1
: Plan view map showing highlight historical drill intercepts in LB0-70 and LB0-72 at Juniper
and Ridgeline drill intercepts at Chinchilla. Zones open for expansion down-dip and along strike.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/7298/126871_a03ce58f649ba91d_002full.jpg
Figure 2
:
Schematic Long Section B-B' highlighting high-grade historic drillholes LB-070 and LB-072
with potential for ~4.5km of mineralized strike between the Butte Valley Porphyry and the Juniper target.
To view Long-Section A-A'
Click Here
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/7298/126871_a03ce58f649ba91d_003full.jpg
Figure 3
:
Plan view map of property-wide Au-Ag rock chips with select Au-Ag values highlighted. Future
targets to drill test include Juniper, Revival and Broken Egg.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/7298/126871_a03ce58f649ba91d_004full.jpg
About Ridgeline Minerals Corp.
Ridgeline is a discovery focused gold-silver explorer with a proven management team and a 163 km²
exploration portfolio across five 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/126871