Ridgeline Minerals Samples up to 9.6 g/t Gold and 0.4% Copper at the Big Blue Porphyry Project, Nevada NOI exploration permit approved for up to 38 drill sites IP Geophysics survey scheduled for summer 2024
Ridgeline Minerals Samples up to 9.6 g/t Gold
and 0.4% Copper at the Big Blue Porphyry
Project, Nevada
NOI exploration permit approved for up to 38 drill sites
IP Geophysics survey scheduled for summer 2024
Vancouver, British Columbia--(Newsfile Corp. - June 27, 2024) - Ridgeline Minerals Corp. (TSXV: RDG)
(OTCQB: RDGMF) (FSE: 0GC0) ("
Ridgeline
" or the "
Company
") is pleased to announce additional
high-grade surface rock chip results
at the Big Blue ("Big Blue") porphyry copper ("Cu") - gold ("Au") -
silver ("Ag") project in Elko County, Nevada. The sampling was completed by Ridgeline's technical team
during reconnaissance prospecting and mapping at a high priority porphyry target located approximately
three kilometers ("km") to the west of the Delker Mine, which historically produced 94,434 pounds of
copper at an average grade of 6.2% Cu between 1916-1917
1
(
Figure 1
). Both porphyry targets, as
originally defined by historic magnetic surveys are largely beneath shallow alluvial cover and future drill
targeting will benefit greatly from the upcoming induced polarization ("IP") survey scheduled to begin this
summer.
Michael Harp, Ridgeline's Vice President, Exploration commented, "Today's rock chip results
continue to validate our exploration model at Big Blue, which projects at least two potential porphyry
centers under shallow alluvial cover. We are also seeing an increase in gold grades to the west, where
highlight samples returning up to 9.6 g/t gold represent the highest-grade gold values ever sampled
on the project. Our IP geophysics program this summer has been designed to test for chargeability
anomalies at depth across both porphyry targets and we eagerly anticipate the commencement of the
survey in late July."
Surface Sampling Highlights:
New Porphyry Target:
0.44% Cu, 9.56 grams per tonne ("g/t") Au, 0.30 g/t Ag and 0.25% Cu,
0.10 g/t Au, and 0.20 g/t Ag
from two chip samples taken from separate outcropping quartz veins
(
Figure 1
)
The presence of highly elevated molybdenum ("Mo") values (average of 220.5 parts per
million ("ppm") Mo) in the two rock chips taken at this new porphyry target compared to 94
rock chips in the Delker Mine area (average of 10.0 ppm Mo) suggests the porphyry system
may be vectoring towards the west
Additional surface sampling and mapping required in this area
Previously reported rock chips at the Delker Mine and Skarn Hill porphyry & skarn targets include:
Delker Mine:
10.80% Cu, 0.10 g/t Au, 4.51 g/t Ag
and
4.88% Cu, 0.10 g/t Au, below
detection limit ("BDL") Ag
(
Figure 1
&
Picture 1
)
Skarn Hill:
6.44% Cu, 0.16 g/t Au, 53.75 g/t Ag
(
Figure 1
)
A total of 94 rock chips have been collected between Ridgeline and historical operators. Sample
values range from BDL to 10.80% Cu, BDL to 9.56 g/t Au and BDL to 53.75 g/t Ag (avg. 0.96%
Cu, 0.02 g/t Au, 1.52 g/t Ag)
For a full table of rock chip values click
HERE
Figure 1
:
Plan view map showing high-grade Cu-Au-Ag rock chips at two porphyry targets (red dash
lines) overlying kilometer-scale airborne magnetic highs at Big Blue.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/214576_09538810047b59f9_002full.jpg
Notice of Intent Exploration Permit
The Company holds an active 5-acre Notice of Intent ("NOI") exploration permit at the project which
is currently bonded for 4.92 acres of disturbance totaling 38 drill sites and approximately 4,888
linear feet of access roads (
Figure 2
)
Less than 0.1 acres has been disturbed to-date and the aforementioned permit may be
amended with 30 days written notice to the BLM to revise or add additional drill sites and
roads as needed
Figure 2
:
Plan view map showing the location of 38 permitted drill sites overlying an airborne magnetic
map. Ridgeline anticipates revising the permit for additional drill sites over the western porphyry target
after completion of the pending IP geophysics survey in late July
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/214576_09538810047b59f9_003full.jpg
Big Blue Project
Big Blue is located in Elko County, Nevada, approximately seventy-five kilometers ("km") southeast of
the city of Elko, NV. The Project includes the past producing Delker Mine, which produced a reported
94,434 pounds of copper at an average grade of 6.2% Cu between 1916-1917
1
and shares its
southern boundary with Reyna Silver's Medicine Springs Ag-Pb-Zn Carbonate Replacement ("CRD")
project. Mineralization occurs as outcropping, high-grade Cu occurrences located proximal to northeast
trending felsic dikes that are interpreted as the zoned manifestations off a potential porphyry source,
located in the northwest corner of the Big Blue property. Importantly, this target has never been drill-
tested. The primary target at Big Blue is porphyry-skarn Cu ± Au-Ag mineralization, with potential to
discover polymetallic, carbonate replacement deposit (CRD) style mineralization as the system zones
outward over 6 kilometers of strike towards the Medicine Springs project. This target model is
analogous to the Butte Valley porphyry Cu-Au system, which is inferred to be the source of CRD
mineralization at the Company's nearby
Selena project
. Big Blue is 100% owned by the Company and is
comprised of a total of 41 square kilometers of highly prospective exploration ground that has seen
limited exploration since the early 1900's and will benefit from Ridgeline's systematic approach to
discovery (view Ridgeline's Corporate 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 192km
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.
Sources
1
Delker Mine Historic Production (Page 57): Smith, R.M., 1976, Mineral resources of Elko County, Nevada: U.S. Geological Survey Open-File
Report 76-56, 201 p.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/214576