Ridgeline Minerals Provides Drilling Update at the Selena CRD Project, Nevada
Ridgeline Minerals Provides Drilling Update at
the Selena CRD Project, Nevada
Vancouver, British Columbia--(Newsfile Corp. - September 12, 2023) - Ridgeline Minerals Corp. (TSXV:
RDG) (OTCQB: RDGMF) (FSE: 0GC0) ("
Ridgeline
" or the "
Company
") is pleased to provide an
update on the Company's ongoing drill program at the Selena Project, Nevada (
Figure 1
). Selena is host
to a silver ("Ag") - gold ("Au") - lead ("Pb") - zinc ("Zn") carbonate replacement ("CRD") style discovery
located in White Pine County, Nevada. The objective of the 3,000-meter ("m") core program is to both
infill the high-grade upper Chinchilla Zone (see July 24, 2023 press release
HERE
), as well as to test
beneath the Chinchilla Zone for stacked sulfide horizons at depth (
Figure 2
). A summary of drilling
progress is highlighted below.
Drill Program Summary
Drill hole SE23-046 was lost due to difficult drilling conditions at 126.8 m downhole with the bottom
7.3 m of the hole intersecting strongly brecciated and oxidized mineralization consistent with the
top of the Chinchilla Zone (
Figure 2
).
Assays of the truncated upper zone returned 7.3 m grading 64.2 grams per tonne ("g/t") Ag,
0.8% Pb, 2.9% Zn and 0.1 g/t Au (
Figure 3
) or;
7.3 m grading 221.20 g/t silver equivalent ("AgEq")
(Assumed metal prices $20 Ag, $0.90 Pb, $1.25 Zn, $1800 Au, no recovery factory applied).
Drill hole SE23-047 re-drilled SE22-046 to a depth of 200.1 m and intersected the same upper
Chinchilla oxide horizon over a 50 m + thick intercept (assays pending) (
Figure 2
&
Figure 3
).
The thickness of the altered and mineralized zone in SE23-047 is consistent with nearby
reverse circulation drilling in holes SE21-013 and SE21-14.
Drill hole SE23-048 is in progress and will be drilled to depths of 400-500m to test for deeper
sulfide horizons within the historically untested lower Guilmette limestone (
Figure 3
)
The core program is tracking on-budget but running behind the originally proposed schedule due to
mechanical delays associated with the drill rig, which have now been resolved.
Mike Harp, Ridgeline's Vice President, Exploration commented, "We continue to be impressed by the
continuity of mineralization at the Chinchilla Zone with hole 47 intersecting a thick, continuous zone of
oxide mineralization that is visually consistent with nearby RC drillholes drilling during our 2021
program. We eagerly await assays from this shallower portion of the Chinchilla zone, which exhibits
higher gold grades and exceptional continuity with mineralization currently open both up and down-
dip."
Mr. Harp continues, "Although drilling progress has been delayed by mechanical issues early in the
program, we are now seeing consistent drill production as we test the bottom half of the highly
prospective and historically untested lower Guilmette limestone. We have at least four more holes to
complete with results to be released as they are received throughout the remainder of the program."
Figure 1
: Location of the 100% owned (39km²) Selena project adjacent to the Falcon Butte and
Freeport-McMoRan Butte Valley joint venture to the west and NevGold's Limousine Butte project to the
north
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/180328_24c42165044f9b1c_002full.jpg
Figure 2
: Plan view map showing silver equivalent grade-thickness contours of all Chinchilla zone drill
holes
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/180328_24c42165044f9b1c_003full.jpg
Figure 3
: Long Section C-C' showing core holes SE23-046 to SE23-048 drilling the eastern edge of the
Chinchilla Zone, which exhibits higher Au grades near surface. Three proposed drillholes will be drilled
beneath and adjacent to SE22-045 to test for stacked CRD mineralization at depth
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/180328_24c42165044f9b1c_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 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 & 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.
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https://www.newsfilecorp.com/release/180328