Ridgeline Minerals Intersects Shallow, High- Grade CRD Mineralization at the Selena Project, Nevada Including: 0.9 m grading 720.3 g/t Ag, 12% Pb, 0.1% Zn, 0.4 g/t Au (or 1,133.6 g/t AgEq) And: 60.7 m grading 69.8g/t Ag, 0.6% Pb, 1.3% Zn, 0.4 g/t Au (or 175.2 g/t AgEq)
Ridgeline Minerals Intersects Shallow, High-
Grade CRD Mineralization at the Selena
Project, Nevada
Including: 0.9 m grading 720.3 g/t Ag, 12% Pb, 0.1% Zn, 0.4 g/t Au (or 1,133.6 g/t AgEq)
And: 60.7 m grading 69.8g/t Ag, 0.6% Pb, 1.3% Zn, 0.4 g/t Au (or 175.2 g/t AgEq)
To view a summary of today's press release by Ridgeline CEO Chad Peters, click
HERE
Vancouver, British Columbia--(Newsfile Corp. - October 12, 2023) - Ridgeline Minerals Corp. (TSXV:
RDG) (OTCQB: RDGMF) (FSE: 0GC0) ("
Ridgeline
" or the "
Company
") is pleased to announce results
from the first two core holes of its proposed five (5) hole, 3,000-meter ("m") drill program at the Selena
("Selena") project, Nevada (
Figure 1
). Results from the Upper Chinchilla zone returned continuous
intercepts of shallow-oxide, silver ("Ag") - lead ("Pb") - zinc ("Zn") - gold ("Au") containing high-grade
including intervals that are consistent with nearby reverse circulation ("RC") holes. Notably, deeper
drilling beneath the Upper Chinchilla zone in hole SE23-048 also intersected localized antimony-rich
("Sb") breccia intervals averaging 1-2% Sb, which are the first of its kind at Selena.
Chad Peters, Ridgeline's President, and CEO commented, "This year's drill program has two primary
objectives. The first is to upgrade previously drilled, shallow-oxide RC intercepts in the Upper
Chinchilla zone, and the second is to make a high-grade CRD discovery at depth. Hole 47 drilled
between 2021 RC holes 13 and 14, materially upgrading both the thickness and overall grade of both
holes, which includes a significant oxide gold component. This zone is shallow and projects up-dip
through hole 48 to surface and is open for expansion. These intercepts confirm our belief that there is
significant potential to delineate a shallow-oxide resource at Chinchilla that may be amenable to low-
cost heap-leach processing methods."
Mr. Peters continues, "The highest priority holes of the program are holes 49 and 50, which are in-
progress and will drill to depths of 700 meters or more to test for stacked zones of CRD mineralization
beneath the Upper Chinchilla Zone. These holes are targeting both sides of the known chimney
structure that is believed to be a primary feeder to the Upper Chinchilla zone, which returned bonanza
grade CRD intercepts in our 2022 program."
Chinchilla Zone results summary
SE23-048:
0.9 m grading 720.3 g/t Ag, 12.0% Pb, 0.1% Zn, 0.4 g/t Au (or 1,133.6 g/t Silver
Equivalent) ("AgEq")
within 10.9 m grading 94.1 g/t Ag, 1.3% Pb, 0.7% Zn, 0.2 g/t Au starting at
85.3m true vertical depth ("TVD") (
Figure 1
&
Figure 2
)
And: 0.6 m grading 3.6 g/t Ag, 2.4% Sb, 0.1 g/t Au starting at 240 m TVD
And: 3.6 m grading 0.5 g/t Ag, 1.2% Sb, NA g/t Au starting at 247 m TVD
SE23-047:
4.6 m grading 55.2 g/t Ag, 1.2% Pb, 7.2% Zn, 0.2 g/t Au (or 421.1 g/t AgEq) and
2.8 m grading 205.8 g/t Ag, 1.4% Pb, 0.3% Zn, 1.4 g/t Au (or 386.1.1 g/t AgEq)
within 60.7 m
grading 69.8 g/t Ag, 0.6% Pb, 1.3% Zn, 0.4 g/t Au (or 175.2 g/t AgEq) starting at 93.8 m TVD
(
Figure 2
)
The 60.7 m composite calculation includes a combined
7.3 m of unrecovered core
(typically in 1-2m intervals) due to collapsing hole conditions through the mineralized zone.
These intervals were assigned an assay value of 0.0 across all metals, resulting in an
estimated dilution of roughly 12%
to the overall composite value
Both intercepts are hosted within 10 m to 60 m wide zones of strongly oxidized carbonate
replacement ("CRD") style alteration and are open for expansion up and down-dip.
Holes SE23-049 and SE23-050 are in progress and located ~500 m west of SE23-047 and
SE23-048 (
Figure 2
). Both holes will test for stacked mineralization beneath the high-grade Upper
Chinchilla zone intersected with holes SE22-039 and SE22-045 in 2022 (see January 24 press
release HERE)
SE23-049 has ~250 m of prospective host rocks remaining to test before moving to SE23-
050 and has intersected multiple zones of fugitive calcite breccias or "BBQ Rock" beneath
the Upper Chinchilla zone, a proximal indicator of CRD alteration and mineralization (see
BBQ Rock core photo
HERE
)
For a complete table of all Chinchilla Zone assay results click
HERE
Figure 1
: Plan view map showing SE23-047 and SE23-048 results on the eastern edge of the
Chinchilla zone as well as select historical drill intercepts. SE23-049 and SE23-050 are in progress
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/183736_0169cd1654a36af3_002full.jpg
Silver Equivalent Calculation:
Metal Prices ($20 Ag, $0.90 Pb, $1.25 Zn, 1800 Au, no recovery factor applied)
Silver g/t + (Gold g/t * (Gold Price/ Silver Price)) + ((22.0462* Lead Price)/ ((1/31.1035) * (Ag Price)) * Lead %) +
((22.0462* Zinc Price)/ ((1/31.1035) * (Ag Price)) * Zinc %)
Figure 2
: Chinchilla Long-Section C-C' highlighting SE23-047 and SE23-048 drill intercepts with the
interpreted geometry of high-grade "chimney" and stratabound "manto" horizons shown with silver
equivalent grade contours
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/183736_0169cd1654a36af3_003full.jpg
To view Chinchilla X-Section D-D' Click
HERE
.
To view property-wide long-section A-A' click
HERE
.
Picture 1
:
Shortwave ultra-violet photo of SE23-049 drill core starting at 293 m depth showing fugitive
calcite veins or "BBQ Rock" within previously untested host rocks beneath the Upper Chinchilla Zone
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/183736_0169cd1654a36af3_004full.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
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/183736