Vancouver, British Columbia--(Newsfile Corp. - June 13, 2022) - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) ("Ridgeline" or the "Company") is pleased to announce that the first two holes of the 2022 drill program at the Selena project ("Selena") intersected silver ("Ag") - gold ("Au") - lead ("Pb") - zinc ("Zn") carbonate replacement ("CRD") style mineralization at the CRD target, a conceptual target located between the Company's original shallow-oxide Ag-Au ± Pb-Zn discovery at the Chinchilla Zone ("Chinchilla") and the Butte Valley porphyry located approximately 4.0 kilometers ("km") to the west (Figure 1). Drill hole SE22-037 was a 2.5 km step-out to the west of known mineralization at Chinchilla and returned highlight intercepts of 3.0 meters ("m") grading 40.2 grams per tonne ("g/t") Ag, 3.0 g/t Au, 0.2% Pb, 6.8% Zn and 3.0m grading 35.4 g/t Ag, 0.9 g/t Au, 1.0% Pb, 2.3% Zn within wider (15.2-16.8m), lower grade intervals surrounding both zones (Figure 2).
Mike Harp, Ridgeline's Vice President, Exploration commented, "A year of detailed field work and conceptual targeting went into our first hole at the CRD target, a 2.5 kilometer step-out down-dip and to the west of known mineralization at Chinchilla. Hole 37 hit two distinct mineralized zones in the projected host horizon, including 3.0 meters of the highest-grade gold and zinc we've ever drilled at the project to-date. It's important to note that both gold and zinc grades appear to be increasing towards the porphyry, which is consistent with our greater metal zonation model for the project.
Selena now hosts three distinct mineralized zones at Chinchilla, Juniper and CRD, as well as two additional high-priority targets at Revival and Broken Egg. We are looking forward to our planned core program in August, where we will continue to systematically test each target in order to fully understand the potential upside of this district-scale discovery."
Highlight Drill Intercepts
- SE22-037: 3.0m grading 35.4 g/t Ag, 0.9 g/t Au, 1.0% Pb, 2.3% Zn within 16.8m grading 22.2 g/t Ag, 0.3 g/t Au, 0.4% Pb, 1.0% Zn,starting at 666.0m; and
- 3.0m grading 40.2 g/t Ag, 3.0 g/t Au, 0.2% Pb, 6.8% Zn within 15.2m grading 12.8 g/t Ag, 0.8 g/t Au, 0.1% Pb, 1.7% Zn,starting at 734.5m (Figure 1 & Figure 2).
- SE22-038: 1.5m grading 97.4 g/t Ag, 0.4g/t Au, 0.1% Pb, 4.9%Zn starting at 765.1m (Figure 3).
Summary of Drill Results
Drill hole SE22-037
- Intersected widespread alteration and Ag-Au-Pb-Zn mineralization in two distinct zones that highlight the higher-grade potential of the CRD target.
- Increasing Au and Zn grades compared to the Chinchilla and Juniper zones to the east support the proposed metal zonation of the system as it zones towards the higher heat center of the Butte Valley porphyry.
- Mineralization is beginning to transition from oxide to sulfide in the bottom 100m of the drill hole.
- Tested the western edge of a large magnetic low signature (interpreted as structurally controlled silica flooding) with future holes to test the full extent of the magnetic low to vector towards the projected core of the mineralized zone (see A-A' long section over magnetics HERE).
Drill hole SE22-038
- Intersected a narrow, high-grade zone of Ag-Au-Pb-Zn mineralization over 1.2km down-dip of the closest mineralized intercept in SE21-027 and approximately 2.5km down-dip of recently announced high-grade intercepts at Juniper (Figure 3).
- Intercept confirms proof of concept at the CRD target with future drilling to vector towards thicker and higher-grade, structurally controlled zones.
Next Steps
Successful results at the CRD target announced today combined with the Company's recent acquisition of historical high-grade Ag-Au results at Juniper (see June 8, 2022 press release) highlight the need for mineralized zones at the project to be drilled with diamond core drilling methods. As a result, the Company has halted its reverse circulation ("RC") drill program at Selena that was operated under its strategic drilling contract with Envirotech Drilling LLC, in order to transition to core drilling. Core drilling services will be provided by NISS LLC and is anticipated to begin in August 2022. The Company's strategic contract with Envirotech drilling will remain in effect and Envirotech will continue to provide RC drilling services as needed.
Figure 1: Plan view map showing highlight drill intercepts in SE22-037 and SE22-038 at the CRD zone. Hole 37 highlights over 4km of mineralized extent when projected up-dip to the outcropping Chinchilla zone.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7298/127420_29869759a4787981_002full.jpg
Figure 2: Schematic Long Section A-A'' highlighting mineralized CRD intercept in SE22-037 drilled over 2.5km down-dip of known mineralization at Chinchilla.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/7298/127420_29869759a4787981_003full.jpg
Figure 3: Schematic Long Section B-B' highlighting mineralized CRD intercept in SE22-038 drilled over 2.5 km down-dip of outcropping mineralization at Juniper.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/7298/127420_29869759a4787981_004full.jpg
Selena Project
Selena is located in White Pine County, Nevada, approximately 64 kilometers ("km") north of the town of Ely, NV, and 25 km southeast of the Kinross owned and operated Bald Mountain Gold Mine. The 100% owned property is comprised of 39 square kilometers of prospective ground and is host to a zoned porphyry system. The project exhibits potential to discovery multiple deposit types ranging from Ag-Au-Pn-Zn Carbonate Replacement type mineralization to distal disseminated oxide Au. The property currently hosts three mineralized centers at the Chinchilla, Juniper and CRD zones with early-stage exploration targets at Revival and Broken Egg. (View the Selena VRIFY Deck Here).
QAQC Procedures
Samples are submitted to American Assay Laboratories (AAL) of Sparks, Nevada, which is a certified and accredited laboratory, independent of the Company. Samples are prepared using industry-standard prep methods and analysed using FA-PB30-ICP (Au; 30 g fire assay) and ICP-5AM48 (48 element Suite; 0.5 g 5-acid digestion/ICP-MS) methods. AAL 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 Qualified Person, Michael T. Harp, Vice President, Exploration.
Technical information contained in this news release has been reviewed and approved by Michael T. Harp, CPG. 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-silver explorer with a proven management team and a 163 km² exploration portfolio across five projects in Nevada and Idaho, USA. More information about Ridgeline can be found at www.RidgelineMinerals.com
On behalf of the Board
"Chad Peters"
President & CEO
Further Information:
Chad Peters, P.Geo.
President & CEO
Ridgeline Minerals Corp.
1-866-RDG-NVAU (734-6828) - toll free | info@ridgelineminerals.com
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 benefits of the Earn-In Agreement and the transaction contemplated thereby. The words "potential", "anticipate", "meaningful", "discovery", "forecast", "believe", "estimate", "expect", "may", "will", "project", "plan", "historical", "historic" 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 TSX Venture Exchange approval will be granted in a timely manner subject only to standard conditions; the current objectives concerning the Project 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; risks related to historical data that has not been verified by the Company; 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/127420
