Ridgeline Minerals Granted Water Rights Permit at the Selena CRD Project, Nevada
Ridgeline Minerals Granted Water Rights
Permit at the Selena CRD Project, Nevada
Vancouver, British Columbia--(Newsfile Corp. - July 10, 2024) - Ridgeline Minerals Corp. (TSXV: RDG)
(OTCQB: RDGMF) (FSE: 0GC0) ("
Ridgeline
" or the "
Company
") is pleased to announce a significant
permitting milestone for the Selena CRD project ("Selena") with the grant of an exclusive water right
through the Nevada Division of Water Resources. The water right allows for the drilling of, and
subsequent beneficial use of up to 150 acre-feet annually of groundwater at Selena and will support all
future exploration work outlined in the Company's pending Plan of Operations exploration permit. (
Figure
1
).
Chad Peters, Ridgeline's President, CEO & Director commented, "Receipt of the water rights permit is
an important de-risking milestone for Selena as we await approval of our Plan of Operations
exploration permit, which will allow for advanced exploration up through the feasibility stage at the
project. This water right will ensure consistent access to drill water year-round while also dramatically
reducing our water procurement costs, which currently accounts for roughly 5% of our total drill budget
when purchased through third-party water rights holders."
Figure 1
:
Selena plan view map showing the approved groundwater well location (red dot) as well as
the Phase I drill pads (white dots) outlined in the pending Plan of Operations exploration permit. Note
that the Phase I drill pads will account for roughly 34 acres out of a potential 200 acres of permitted
surface disturbance.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/216046_8c1c05b8f48c5ae7_002full.jpg
Selena CRD Project
Selena is located in White Pine County, Nevada, approximately sixty-four kilometers ("km") north of the
town of Ely, NV. The Project shares a property boundary with the Butte Valley project, which has a US
$33M earn-in agreement between Freeport-McMoRan and Falcon Butte Minerals. The 100% owned
Selena CRD project is comprised of 39 square kms of highly prospective exploration ground including
Ridgeline's shallow-oxide 2020 Ag-Au ± Pb-Zn Chinchilla discovery. Subsequent drilling has continued
to highlight the potential for high-grade CRD type mineralization (Ag-Au-Pb-Zn ±Cu-W) between
Chinchilla and the Butte Valley Cu-Au-Ag-Zn porphyry located directly west of the property.
(View the
Selena VRIFY Deck Here)
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 Minerals is a discovery focused precious and base metal explorer with a proven management
team and a 192 km
2
exploration portfolio across five projects in Nevada, USA. The Company boasts
two earn-in exploration agreements with Nevada Gold Mines at its Swift and Black Ridge projects, which
are being aggressively explored in 2024. 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 potential
benefits of the Transaction and the anticipated timing for completion of the Transaction and filing of
the material change report in respect thereof. 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; that all conditions precedent to completion of the Transaction will
be satisfied in a timely manner; the current objectives concerning the Project and the Company's
other projects 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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