Ridgestone Continues to Intersect High-Grade Mineralization with 0.54% Copper over 29.15m, and 3.82 g/t Gold & 0.75% Copper over 4.35m
Ridgestone Continues to Intersect High-Grade
Mineralization with 0.54% Copper over 29.15m,
and 3.82 g/t Gold & 0.75% Copper over 4.35m
Vancouver, British Columbia--(Newsfile Corp. - September 21, 2020) - Ridgestone Mining Inc. (
TSXV:
RMI
) (
OTCQB: RIGMF
) (
FSE: 4U5
) ("Ridgestone" or the "Company") ("Ridgestone") is pleased to
report positive drill results from an additional 8 holes totalling 1,238 metres (m) on its wholly-owned
Rebeico Gold-Copper project in Sonora, Mexico.
A total of 11 holes for 1,674m were drilled in 2020
testing the subsurface extent of significant gold and copper mineralization previously sampled on surface
at the New Year Zone and southern part of the 1.2km Alaska Vein (Figure 1); results from the remaining
eight holes are presented herein (Table 1 and Figure 2),
Significant Highlights:
0.54% Copper over 29.15m in Drill Hole 20REB018D from 0m (surface),
Including 1.95% Copper over 2.25m from 10.95m
2.62 g Au/tonne and 0.54% Copper over 0.65m
in Drill Hole 20REB022D from 64.25m; and
3.82 g Au/tonne and 0.75% Copper over 4.35m in Drill Hole 20REB023D from 70.1m,
Including 8.61 g Au/tonne and 0.50% Copper over 1.55m from 72.9m.
Mr. Jonathan George, CEO, commented
"We are very pleased and excited with these positive drill
results which suggest a potentially large intrusion-related mineralized system, emplaced in multiple
phases as evidenced by the variability in gold and copper content from hole to hole. These drill holes
tested to a vertical depth of approximately 170m and deeper holes beneath the New Year zone,
particularly along the Eastern edge, are being planned with the aim to extend the zone and vein to
depth.
On the regional front, our near-surface drilling continues to extend the lateral footprint of
mineralization. These latest results definitely warrant follow up and we will commence a strategic
targeting exercise for follow-up drilling."
One of the most significant intervals was in vertical hole 20REB018D with 0.54% copper over an interval
of 29.15m from surface (Table 1). Hole 20REB018D was collared approximately 50m South of hole
20REB013D which returned 2.13 g Au/tonne and 1.79% copper over an interval of 16.25m from 3.05m
(News Release dated July 15, 2020).
Hole 20REB023D, collared approximately 170m Northeast of Hole 20REB013D, was drilled at an angle
of -55 degrees and intersected the Alaska Vein returning 3.82 g Au/tonne and 0.75% copper over 4.35m
from 70.1m, including 8.61 g Au/tonne and 0.50% copper over 1.55m (Table 1).
The true widths of the mineralized intervals reported above are not known. All holes except 20REB023D
intersected extensively hornfelsed and hydrothermally altered andesite and andesite breccia cut by
intermittent zones of narrow veins and veinlets containing variable mixtures of pyrite, chalcopyrite,
magnetite, chlorite, calcite and quartz, as well as intervals with visible amounts of disseminated
chalcopyrite ± magnetite.
Table 1: Summary of 2020 Mineralized Drill Intercepts of Interest
To view an enhanced version of Table 1, please visit:
https://orders.newsfilecorp.com/files/5790/64202_table1.jpg
The true widths of the mineralized intervals reported above are not known.
Figure 1: Plan View of the New Year Zone and Alaska Vein with Drill Traces
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5790/64202_figure1.jpg
Figure 2: Mineralized Drill Intercepts of Interest
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5790/64202_1236dd7384b3e99d_004full.jpg
Drilling and Analytical Protocol
The New Year Zone diamond-core drilling was completed by Layne de Mexico (drilling contractor) under
the guidance of Dr. Steve Weiss (Chief Technical Advisor) and Mr. Jonathan George (CEO), with onsite
supervision by geologists from Ridgestone's partner YQ Gold. Drill core of HQ size was recovered by
conventional wireline methods and was transported daily from the drill sites to a secure logging and
sample storage area.
After logging by geologists, intervals selected for sampling were sawed in half lengthwise. The ½-core
samples were placed in pre-numbered sample bags and weighed. Blanks and certified reference
material samples were inserted into the sample stream for Quality Assurance / Quality Control
("QA/QC") purposes.
The samples were transported by YQ Gold personnel to the ALS Chemex ("ALS") preparation laboratory
in Hermosillo, Sonora.
At ALS the samples were crushed in their entirety to 70% less than 2 mm, then
riffle split to obtain a 250-gram sub-sample that was pulverized to > 85% passing 75 microns.
After
preparation, the sample pulps were air-freighted by ALS to their assay laboratory in North Vancouver,
British Columbia.
All samples were analyzed for gold by 30-gram fire assay with an atomic absorption ("AA") finish (ALS
method code AuAA23).
The samples were also analyzed for multiple minor and trace elements by
inductively-coupled plasma-emission mass-spectrometry ("ICP-MS") following a 4-acid digestion (ALS
method code ME-MS61).
Qualified Person (QP) and NI 43-101 Disclosure
The technical information in this news release has been reviewed and approved by Dr. Steven I. Weiss,
PhD, CPG, a qualified person as defined by National Instrument 43-101.
Dr. Weiss is independent of
Ridgestone Mining and YQ Gold, and all their respective subsidiaries.
About Ridgestone Mining Inc.
Ridgestone is a Canadian mineral exploration company focused on its wholly-owned, high-grade
Rebeico gold-copper project located in Sonora, Mexico.
For further information, please contact:
Ms. Radha 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/64202