I'm in at $0.33 today, and will continue to add more shares of RDG on any further weakness.
I've been watching RDG since it went public at 0.45 and began trading on the TSX Venture Exchange on August 17, 2020 - it closed the trading day at 0.64 on volume of 1.57 million shares, and went on to hit an all-time high close of 0.73 on August 28, 2020. Since that time (along with most other gold junior mining stocks), RDG has seen a significant pullback in share price. I finally took the plunge today after speaking at length with President & CEO Chad Peters.
"Ridgeline controls three 100% owned and highly prospective gold exploration projects - Selena, Swift and Carlin-East, totaling 116 square kilometers on the Carlin and Battle Mountain-Eureka trends in Nevada."
I love Nevada as being one of the top mining jurisdictions in the world. Ridgeline controls one of the largest land packages in Nevada. I also love the idea of these guys owning and controlling all their own drill rigs, and the significant cost benefits realized.
Ridgeline is also well funded with close to $5 million in the treasury, to carry out all their planned drilling programs for 2020 and 2021. The market gave absolutely no well deserved recognition to RDG, for the September 15, 2020 NR put out by the Company - initial drill results from Selena returned higher grades of gold and silver mineralization in 7 of 10 holes from near surface. Incredibly, this great news fell on deaf ears and RDG closed lower at 0.52 that day, down from 0.60 or 13.33%!
Vancouver, Canada, September 15, 2020 – Ridgeline Minerals Corp. (“Ridgeline” or the “Company”) (TSX-V: RDG) is pleased to report assay results from ten reverse circulation drill holes totaling 1,155 meters (“m”) completed during the Phase II scout drill program at the Company’s Selena Gold-Silver Project in White Pine County, Nevada (Figure 1.0). Wide-spaced scout drilling successfully tested favourable host rocks at the Chinchilla and Juniper targets, intersecting widespread alteration and oxide gold-silver mineralization in seven of ten holes ranging from surface to approximately 100 meters true vertical depth. Assay results are listed in Table 1.0below.
Highlight Drill Results:
- SE20-014: 29.0m @ 0.38 g/t gold (“Au”), 65.28 g/t silver (“Ag”), or 1.26 g/t gold equivalent (AuEq) – Including 9.1m @ 0.51 g/t Au, 40.83 g/t Ag or 1.06 g/t AuEq starting at 126.5m
- SE20-013: 9.1m @ 0.36 g/t Au, 78.28 g/t Ag, or 1.42 g/t AuEq starting at 118.9m
- SE20-007: 3.0m @ 0.41 g/t Au, 792.30 g/t Ag, or 11.11 g/t AuEq starting at 135.6m
- SE20-006: 21.3m @ 0.30 g/t Au, 15.58 g/t Ag, or 0.51 g/t AuEq – Including 6.1m @ 0.52 g/t Au, 35.38 g/t Ag, or 1.00 g/t AuEq starting at 91.4m
- SE20-005: 4.6m @ 1.62 g/t Au, 25.73 g/t Ag or 1.97 g/t AuEq starting at 35.1m
Mike Harp, Ridgeline’s Vice President, Exploration commented, “Our 2020 drilling campaign represents the first new drill-holes at Selena in decades with results to-date indicating we are in the early stages of an emerging shallow-oxide, gold-silver discovery. We are very encouraged by the widespread mineralization intersected in our Phase II program and as our understanding of the geologic model has evolved, we have hit progressively wider and higher-grade mineralized intercepts. A 1,500m Phase III drill program is now scheduled for October where we will follow-up on positive Phase II drill intercepts as well as test several northwest-trending fault zones between the Chinchilla and Juniper targets which coincide with robust gold-silver and Carlin-Type pathfinder soil anomalies.”
RDG is hugely undervalued and unjustifiably trading well below its 0.45 IPO price. I'm looking forward to pending assay results and continued drilling success to move the share price significantly higher from current levels.
GLTA