Ranchero Announces Start of Trading, Drill Rig Mobilizes
910-800 West Pender Street, Vancouver, B.C. V6C 2V6
TSXV:RNCH
Ranchero Announces Start of Trading, Drill Rig Mobilizes
• Ranchero is now trading on the TSX Venture Exchange as RNCH with $5m in cash to explore
Maíz Azul.
• Drill rigs have been mobilized and drilling begins this week.
• Maíz Azul is a potentially large gold exploration target with historic drilling intercepting 36
meters of 1.6 g Au/t.
VANCOUVER, British Columbia, Oct. 20, 2021 (GLOBENEWSWIRE) -- Ranchero Gold Corp.
(formerly, Melior Resources Inc.) (TSXV: “RNCH”) (the “Company”) is pleased to announce that
trading of its shares has now started on the TSX Venture Exchange. It is also pleased to
announce that the Company has contracted Globexplore Drilling. A rig is now being mobilized
and is expected on site by the end of the week.
The commencement of trading is the culmination of a reverse takeover of Melior Resources
and a C$$5,258,887 concurrent financing, (see news release October 8, 2021, for details.) The
start of drilling begins a new phase for the Company as Ranchero begins to actively explore its
Maíz Azul prospect within its 22,000-hectare concession block.
The first phase will consist of approximately 3000 meters of diamond core drilling. Its objective
is to confirm and expand upon work completed by the previous project operator. This
encountered multiple intercepts of gold mineralization. The Company intends to continue
drilling based on the results of Phase 1.
Recent work conducted by Ranchero has identified three primary target zones known as Maíz
Azul, La Cascada and X-Structure. These are characterized by strong surface gold anomalies,
rock alteration typical of low-sulfidation epithermal gold systems and well-defined structural
controls. The three zones are parallel to each other and encompass a combined strike length of
approximately 1500 meters and varies in width from 75-150 meters. The map below shows the
location of these three zones together with proposed Phase-1 drill holes.
Bill Pincus, Ranchero CEO said, “With our new listing and a full treasury we are ready to get to
work. Our concessions are in the heart of the Sierra Madre Occidental gold-belt of Mexico.
Gold mineralization at Maíz Azul, both on the surface and in previous drill core, tells us that this
is an exciting prospect. Our location, adjacent to Alamos Gold's Mulatos gold mine and just
kilometers away from Agnico Eagle's La India gold mine, confirms we are in elephant country.
It’s time to rock and roll.”
On behalf of the Board of Directors of the Company:
William Pincus
President, Chief Executive Officer and Director
Neither the 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.
Cautionary Note Regarding Forward Looking Statements
This news release contains certain forward-looking statements. Any statements that express or involve discussions
with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as “expects” or “does not exp ect”, “is expected”,
“anticipates” or “does not anticipate” “plans”, “estimates” or “intends” or stating that certain actions, events or
results “ may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical
fact and may be “forward-looking statements”. Forward-looking statements contained in this news release include,
but are not limited to, the final acceptance of the TSXV to the Transaction.
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or
results to materially differ from those reflected in the forward-looking statements. These risks and uncertainties
include but are not limited to: risks related to regulatory approval, including the approval of the TSXV. There can be
no assurance that forward-looking statement will prove to be accurate, and actual results and future events could
differ materially from those anticipate in such statements. The Company undertakes no obligation to update
forward-looking statements if circumstances or management’s estimates or opinions should change except as
required by applicable securities laws. The reader is cautioned not to place undue reliance on forward -looking
statements.
William Pincus, CPG, is Qualified Person as defined by National Instrument 43-101 and he has reviewed and
approved this news release.
Proposed Phase-1 Drill Program