Ridgestone Announces Maiden Drill Program on Its High-Grade El Cobre Copper Property, Sonora, Mexico
Ridgestone Announces Maiden Drill Program
on Its High-Grade El Cobre Copper Property,
Sonora, Mexico
Vancouver, British Columbia--(Newsfile Corp. - November 22, 2021) - Ridgestone Mining Inc. (
TSXV:
RMI
) (
OTCQB: RIGMF
) (
FRA: 4U5
) ("
Ridgestone
" or the
"Company"
) is pleased to announce that it
has finalized plans for a maiden drill program to be conducted on the El Cobre Copper property, part of
its 100% owned 3,500-hectare Rebeico Gold-Copper Project located in Sonora, Mexico.
This program will be comprised of approximately 14 reverse circulation (RC) drill holes, totalling 2,700
metres, and will test the El Cobre high-grade copper property down-dip underneath the historical
workings which run along a known strike-length of 200 metres, and will also investigate potential
extensions.
The El Cobre mine was put into production by Asarco during the sixties and was developed on two
levels, with the upper level having over 230 metres of drift development and the lower level having over
100 metres of drift development at a depth of 180 metres below surface. The main structure, with widths
varying from 1 to 5 metres, has been emplaced within a quartz monzonite intrusive and remains open
along strike and at depth. There has been no documented modern-day exploration at the El Cobre mine
or surrounding area since production ceased, making it an ideal exploration target.
Recently, the Company collected fourteen (14) samples around the historic mine, nine (9) of which were
along a 200-metre-long structure exposed at surface with the balance taken from outcrops and historic
dumps. Highlights from sampling of the main mineralized structure exposed on surface included 3.5%
copper plus 0.32 g/t gold over 1.0 metre and 1.5% copper plus 0.44 g/t gold over 1.5 metres.
Additionally, trench sampling from waste dumps and from historical artisanal mining areas included
2.65% copper over 3.0 metres, 2.62% copper over 1.0 metre, 2.21% copper over 1.5 metres, and
2.01% copper over 3.0 metres.
Qualified Persons
Noris Del Bel Belluz, P. Geo., Vice-President of Exploration, is a "qualified person" as defined under NI
43-101 and has reviewed and approved the content of this news release.
About Ridgestone Mining Inc.
Ridgestone Mining has assembled a highly-experienced and dynamic team to explore and advance its
projects in Mexico. The Guadalupe y Calvo gold-silver project, for which Ridgestone can earn a 100%
interest, is host to an Indicated Resource of 356,000 gold-equivalent ounces plus an Inferred Resource
of 460,000 gold-equivalent ounces. Ridgestone's 100%-owned Rebeico copper-gold project has high-
grade copper and gold pervasive throughout the property with highlights including 1.56% copper plus
1.80 g/t gold intersected over 19.3 metres from surface at the New Year Zone and 2.78% copper plus
8.69 g/t gold over 2.0 metres from the Alaska Vein.
For further information, please contact:
Rad Rajaram - Manager Corporate Relations and Business Development
Telephone: 416-732-0604
This news release contains forward-looking statements or information (collectively referred to herein
as "forward-looking statements").
Such statements are subject to risks and uncertainties that may
cause actual results, performance or developments to differ materially from those contained in the
statements and are not guarantees of future performance of the Company.
In this news release such
statements include but are not limited to any ongoing drilling programs, timing of such programs, or
exploration results.
No assurance can be given that any of the events anticipated by the forward-
looking statements will occur or, if they do occur, what benefits the Company will obtain from them.
These forward-looking statements reflect management's current views and are based on certain
expectations, estimates and assumptions which may prove to be incorrect.
A number of risks and
uncertainties could cause our actual results to differ materially from those expressed or implied by the
forward-looking statements, including those described in the Company's regulatory filings available
on
www.sedar.com
.
Should one or more of these risks or uncertainties materialize, or should any of the
Company's assumptions prove incorrect, actual results may vary in material respects from those
projected in the forward-looking statements.
Readers are cautioned that the foregoing list of risks,
uncertainties and other factors is not exhaustive.
Unpredictable or unknown factors not discussed
could also have material adverse effects on forward-looking statements.
The impact of any one factor
on a particular forward-looking statement is not determinable with certainty as such factors are
dependent on other factors, and the Company's course of action would depend on its assessment of
the future considering all information then available.
All forward-looking statements in this news
release are expressly qualified in their entirety by these cautionary statements.
Except as required by
law, the Company assumes no obligation to update forward-looking statements should circumstances
or management's estimates or opinions change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/104464