Ridgestone Receives Permit for Drill Program on El Cobre Copper Target at Rebeico Project
Ridgestone Receives Permit for Drill Program
on El Cobre Copper Target at Rebeico Project
Vancouver, British Columbia--(Newsfile Corp. - November 18, 2021) - Ridgestone Mining Inc. (
TSXV:
RMI
) (
OTCQB: RIGMF
) (
FSE: 4U5
) ("
Ridgestone
" or the
"Company"
) is pleased to announce it has
received all of the requisite permits for a maiden drill program on the El Cobre copper target at it's
wholly-owned Rebeico copper-gold project in Sonora, Mexico.
The permit was issued by the Secretaría de Medio Ambiente y Recursos Naturales or SEMARNAT, the
Mexican regulatory body, which allows for the Company to undertake its maiden drill program. The
program will be comprised of 14 reverse circulation (RC) drill holes for a total of approximately 2,700
metres and will be conducted along the main El Cobre structure, where recent grab and rock-chip
sampling of the surface stockpile of mined material from the El Cobre structure returned up to 3.5%
copper, 53 g/t silver and 0.52 % Mo over widths of up to 5.0 metres. Historical records of past mining by
Asarco in the 1960's show that high-grade copper was extracted from two levels to a depth of 180
metres, and that the structure remains open along strike and to depth.
The Company is working with its local drilling contractor to finalize schedules for an upcoming program.
In addition, it has engaged with ancillary service providers to prepare the drill sites ahead of the
anticipated program.
In addition, the Company is pleased to announce that the Company has engaged Think Ink Marketing
Data & Email Services, Inc. ("Think Ink") to provide public relations services in an effort to increase
public awareness of the Company and its products, services and securities. The agreement is for six
months at a budget of $200,000. Think Ink leverages leading-edge technologies to steer traffic to clients'
web properties, drive inquiries, and collect metrics regarding engagement with content.
Services
provided by Think Ink include SEM (search engine marketing), search retargeting, email campaigns, and
social media optimization (e.g., using tactics such as geofencing). With the exception of the agreement
to provide the foregoing services, the Company does not have any relationship with Think Ink.
Think Ink
does not hold, directly or indirectly, and securities of the Company or a right to acquire such securities.
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/104077