Ridgeline Minerals Intersects High-Grade Upper Zone and New Lower Mineralized Horizons at the Selena Project, Nevada Upper Chinchilla Zone SE23-050: 0.4 m grading 570.2 g/t Ag, 20.8% Pb, 1.5% Zn, 0.3 g/t Au (or 1,299.1 g/t AgEq)
Ridgeline Minerals Intersects High-Grade
Upper Zone and New Lower Mineralized
Horizons at the Selena Project, Nevada
Upper Chinchilla Zone
SE23-050: 0.4 m grading 570.2 g/t Ag, 20.8% Pb, 1.5% Zn, 0.3 g/t Au
(or 1,299.1 g/t AgEq)
Within: 24.4 m grading 134.1 g/t Ag, 2.5% Pb, 2.4% Zn, 0.1 g/t Au
(or 321.9 g/t AgEq)
Lower Chinchilla Zone
SE23-049: 1.5 m grading 51.6 g/t Ag, 1.9% Pb, 1.9% Zn, 0.4 g/t Au
(or 225.3 g/t AgEq)
And: 1.1m grading 0.4% Cu, 0.2% W, 0.3% Zn, 2.0 g/t Ag
To view a summary of today's press release by Ridgeline CEO Chad Peters, click
HERE
Vancouver, British Columbia--(Newsfile Corp. - December 6, 2023) - Ridgeline Minerals Corp. (TSXV:
RDG) (OTCQB: RDGMF) (FSE: 0GC0) ("
Ridgeline
" or the "
Company
") is pleased to announce the
remaining results from the Company's five (5) hole, 2,034 meter ("m") drill program at the Selena
("Selena") project, Nevada. Results from the Upper Chinchilla zone returned broad intercepts of silver
("Ag") - lead ("Pb") - zinc ("Zn") - gold ("Au") with individual assays grading up to 795 grams per tonne
("g/t") Ag, 25% Pb, 2% Zn, 0.3 g/t Au and 0.2% copper ("Cu") that further support the high-grade tenor of
the original Chinchilla zone discovery (
Figure 1
) (see January 24, 2023 press release
HERE
).
Notably, core holes SE23-049 and SE23-050 were drilled beneath the Chinchilla zone for the first time
and intersected stacked Ag-Pb-Zn-Au mineralized horizons ranging from 0.5 m to 4.0 m thickness with
individual samples grading up to 63.9 g/t Ag, 0.3% Pb, 1.4% Zn and 0.6 g/t Au (
Table 1
). These new
intercepts effectively double the known vertical extent of Carbonate Replacement ("CRD") mineralization
at Chinchilla down to a depth of 690 m (
Figure 2
). Mineralization remains open at depth and along strike
for over 3 kilometers towards the Butte Valley porphyry, the interpreted source to the Selena CRD
system (see Long Section A-A'
HERE
)
Chad Peters, Ridgeline's President, and CEO commented, "The confirmation of stacked mineralized
horizons beneath the high-grade Chinchilla Oxide zone is a significant development for the project.
Previous drilling had already confirmed that Selena is capable of hosting bonanza grade CRD
mineralization and the addition of stacked zones at depth dramatically increases the tonnage
potential across all target areas."
Michael Harp, Ridgeline's Vice President, Exploration continues, "The lateral metal zonation
observed across the Chinchilla Oxide zone continues to support our team's interpretation that we are
within the outer oxide rind of a potentially much larger CRD system that is zoning back towards the
Butte Valley copper porphyry, the interpreted source to the CRD mineralization at Selena. The
Chinchilla Sulfide target is located down-dip of the oxide zone, where a single scout hole in 2022
returned high-grade CRD intercepts but only tested the top 100 meters of the now 450-meter host rock
section drilled in 2023. The next steps are to drill the Chinchilla Sulfide target, which exhibits the
potential scale and proximity to the porphyry source to host a major sulfide discovery within the
greater CRD footprint already defined at Selena."
Highlight Drill Results
SE23-050
0.4 m grading 570.2 g/t Ag, 20.8% Pb, 1.5% Zn, 0.3 g/t Au, (or 1,299.1 g/t Silver Equivalent
("AgEq")
(interval includes 0.13% Cu not included in the AgEq calculation) (
Figure 1
&
Figure 2
)
within 4.9 m grading 229.7 g/t Ag, 6.5% Pb, 3.5% Zn, 0.2 g/t Au (or 594.6 g/t AgEq)
within 24.4 m grading 134.1 g/t Ag, 2.5% Pb, 2.4% Zn, 0.1 g/t Au (or 321.9 g/t AgEq)
starting at 248m true vertical depth ("TVD") (
Picture 1
)
0.9 m grading 315.1 g/t Ag, 3.5% Pb, 0.3% Zn, 0.1 g/t Au, (or 445.6 g/t AgEq) starting at 257
m TVD
Click thumbnail to view video of SE23-050 core sample
Cannot view this video?
Visit:
https://www.youtube.com/watch?v=0a1Mwf68P58
Picture 1
:
Core photo of the 24.4m Upper Chinchilla Oxide zone intercept in SE23-050.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/190025_af4b65f6043a0b78_003full.jpg
SE23-049
2.2 m grading 9.26 g/t Ag, 0.02% Pb, 4.2% Zn, 0.1 g/t Au (or 193.1 g/t AgEq)
starting at 218m
TVD (
Figure 2
)
And: 0.7 m grading 151.5 g/t Ag, 0.9% Pb, 0.7% Zn, 0.2 g/t Au (or 228.9 g/t AgEq)
Within: 9.1 m grading 29.9 g/t Ag, 0.6% Pb, 0.3% Zn, 0.04 g/t Au (or 62.7g/t AgEq) starting
at 242m TVD
9.1m intercept contained a 2.7 m interval of unrecovered core. The lost core interval
was assigned an assay value of 0.0 across all metals, resulting in an
estimated
dilution of roughly 30%
to the overall composite value
1.5 m grading 51.6 g/t Ag, 1.9% Pb, 1.9% Zn, 0.4 g/t Au (or 225.3 g/t AgEq)
starting at 269m
TVD
1.1m grading 0.4% Cu, 0.2% W, 0.3% Zn, 2.0 g/t Ag
starting at 417m TVD (
Figure 2
)
Copper and Tungsten mineralization was hosted within a quartz feldspar porphyry sill
exhibiting localized garnet skarn alteration and scheelite (Tungsten Carbonate)
mineralization
0.8m grading 57.5 g/t Ag, 0.3% Pb, 1.3% Zn, 0.5 g/t Au (or 161.7 g/t AgEq)
starting at 554m
TVD
Mineralized intercepts in the lower zone horizons are typically hosted with broad intervals (5-
15m) of pervasive brecciation, fugitive calcite veining ("BBQ Rock") and silicification (
Picture
2
).
Manganese ("Mn") rich (>1% Mn) zones of bedding replacement and fracture coatings were
observed throughout the lower stratigraphy, which is consistent with the distal zonation
patterns of other large CRD deposits globally
Picture 2
:
Shortwave UV photo of fugitive calcite veining "BBQ Rock" at depth in SE23-049. Tracking
fugitive calcite veining is a proven vectoring technique in CRD systems
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/190025_af4b65f6043a0b78_004full.jpg
Table 1
:
Table of 2023 Chinchilla Oxide zone assay results
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/190025_af4b65f6043a0b78_005full.jpg
For a complete table of all Chinchilla Zone assay results click
HERE
Figure 1
: Plan view map showing
2023 drill results
with silver equivalent grade contours highlighting
high-grade chimney zones (purple) located at structural intersections
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/190025_af4b65f6043a0b78_006full.jpg
For a complete table of all Chinchilla Oxide Zone assay results click
HERE
Figure 2
: Chinchilla Long-Section C-C' highlighting
2023 drill results
. Note stacked CRD zones at
depth with hole SE23-049 bottoming in mineralization in the Sevy Dolomite (new host rock)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/190025_af4b65f6043a0b78_007full.jpg
Selena Project
Selena is located in White Pine County, Nevada, approximately 64 kilometers ("km") north of the town of
Ely, NV.
The Project shares a property boundary with the Butte Valley project, a US $33M earn-in
agreement between Freeport-McMoRan and Falcon Butte Minerals. The 100% owned 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) between Chinchilla and the Butte
Valley Cu-Au-Ag porphyry located directly west of the property.
(View the Selena VRIFY 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. 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; 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 Minerals is a discovery focused precious and base metal explorer with a proven management
team and a 204 km
2
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 & 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
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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/190025