Vancouver, British Columbia--(Newsfile Corp. - December 17, 2020) - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) ("Ridgeline" or the "Company") is pleased to announce the completion of its Phase I drill program at the Swift gold project located on the prolific Cortez District of the Battle Mountain - Eureka Trend, Lander County, Nevada.
The program was comprised of three diamond drill core holes totaling 2,413 meters, ("m") focused on the untested Fallen City target with two primary objectives:
1) Target the intersection of the down-dip projection of a kilometer-scale Carlin-Type pathfinder (gold-arsenic-antimony) soils anomaly and favourable Lower Plate carbonate host rocks.
2) Confirm the Company's re-interpreted litho-structural model, which projects shallower Lower Plate carbonates (400-500m vertical depth) associated with a pronounced gravity high at the Fallen City target.
All drill samples have been logged, split and submitted to the lab for analysis with results for all three holes expected to be released in January 2021.
Phase I Highlights:
- SW20-001 and SW20-002 intersected Lower Plate carbonate host rocks at relatively shallow depths (425m vertical depth) with excellent correlation between modeled Lower Plate and gravity geophysical anomalies
- Historic drillhole MCK-99-5A intersected the Roberts Mountain Formation (gold host in the Carlin and Cortez trends) approximately one kilometer to the west of the Fallen City target and returned 16.8m grading 0.72 g/t gold, 0.50 g/t silver starting at 727m (see September 23, 2020 press release)
- Drilling intersected multiple intervals of Carlin-Type alteration associated with favourable fossil debris-flow horizons
- Fossil age dates to further constrain Lower Plate stratigraphy pending in Q1, 2021
- Multiple phases of intrusive intersected throughout the Lower Plate including Lamprophyre, Quartz-Feldspar Porphyry, and Granodiorite dikes and sills
Mike Harp, Ridgeline's Vice President, Exploration commented, "Our team is encouraged by the geologic data collected during the Phase I drill program to-date. Our first two holes at the Fallen City target exhibit many of the fundamental characteristics shared by Carlin-Type gold systems in Nevada including favourable host rocks, hydrothermal alteration, proximity to major fault zones, and multi-phase igneous activity."
Figure 1: Map showing Phase I drill hole locations with SW20-003 not reaching its intended Lower Plate target after being lost due to adverse drilling conditions in the DDF Fault Zone at 411.5m downhole
To view an enhanced version of Figure 1, please visit:
Swift is located on the Cortez District of the historic Battle Mountain - Eureka Trend immediately adjacent to the historic Elder Creek gold mine and on trend to the Pipeline, Cortez Hills, Goldrush and Fourmile deposits (view our Corporate Presentation), which comprise the multi-million ounce Cortez Complex owned by Nevada Gold Mines (a joint venture between Barrick Gold Corp. and Newmont Corp.). The property is located approximately 30 km south of the town of Battle Mountain, in Lander County, Nevada.
All samples are submitted to Paragon Geochemical Assay Laboratories (PAL) of Sparks, NV, which is a certified and accredited laboratory, independent of the Company. Samples are run through standard prep methods and analysed using AU-OES30 (Au; 30g fire assay AQR digest/ICP+10ppb Hg by MS) and 35AR-OESm (35 element Suite; 0.5g AQR digestion/ICP-MS; 10ppb Hg) methods. PAL 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 QP, Michael T. Harp, Vice President, Exploration.
Technical information contained in this news release has been reviewed and approved by Michael T. Harp, P.Geo. 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 is a discovery focused gold explorer with a proven management team and a 123 km² exploration portfolio across four projects in the highly prospective Carlin and Battle Mountain - Eureka Trends in Nevada, USA. More information about Ridgeline can be found at www.RidgelineMinerals.com.
On behalf of the Board
President & CEO
Chad Peters, P.Geo.
President & CEO
Ridgeline Minerals Corp.
1-866-RDG-NVAU (734-6828) - toll free
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 anticipated timing for release of additional drill results, plans to drill test prospective targets in 2021 and the potential advancement of mineral exploration, exploration drilling, development, and/or operating programs. The words "potential," "anticipate," "significant," "discovery," "forecast," "believe," "estimate," "expect," "may," "will," "project," "plan" 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 the current objectives concerning its mineral 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; 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/70514