- NOI exploration permit approved for up to 38 drill sites
- IP Geophysics survey scheduled for summer 2024
Vancouver, British Columbia--(Newsfile Corp. - June 27, 2024) - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) ("Ridgeline" or the "Company") is pleased to announce additional high-grade surface rock chip results at the Big Blue ("Big Blue") porphyry copper ("Cu") - gold ("Au") - silver ("Ag") project in Elko County, Nevada. The sampling was completed by Ridgeline's technical team during reconnaissance prospecting and mapping at a high priority porphyry target located approximately three kilometers ("km") to the west of the Delker Mine, which historically produced 94,434 pounds of copper at an average grade of 6.2% Cu between 1916-1917 1(Figure 1). Both porphyry targets, as originally defined by historic magnetic surveys are largely beneath shallow alluvial cover and future drill targeting will benefit greatly from the upcoming induced polarization ("IP") survey scheduled to begin this summer.
Michael Harp, Ridgeline's Vice President, Exploration commented, "Today's rock chip results continue to validate our exploration model at Big Blue, which projects at least two potential porphyry centers under shallow alluvial cover. We are also seeing an increase in gold grades to the west, where highlight samples returning up to 9.6 g/t gold represent the highest-grade gold values ever sampled on the project. Our IP geophysics program this summer has been designed to test for chargeability anomalies at depth across both porphyry targets and we eagerly anticipate the commencement of the survey in late July."
Surface Sampling Highlights:
- New Porphyry Target: 0.44% Cu, 9.56 grams per tonne ("g/t") Au, 0.30 g/t Ag and 0.25% Cu, 0.10 g/t Au, and 0.20 g/t Ag from two chip samples taken from separate outcropping quartz veins (Figure 1)
- The presence of highly elevated molybdenum ("Mo") values (average of 220.5 parts per million ("ppm") Mo) in the two rock chips taken at this new porphyry target compared to 94 rock chips in the Delker Mine area (average of 10.0 ppm Mo) suggests the porphyry system may be vectoring towards the west
- Additional surface sampling and mapping required in this area
- Previously reported rock chips at the Delker Mine and Skarn Hill porphyry & skarn targets include:
- Delker Mine: 10.80% Cu, 0.10 g/t Au, 4.51 g/t Ag and 4.88% Cu, 0.10 g/t Au, below detection limit ("BDL") Ag (Figure 1 & Picture 1)
- Skarn Hill: 6.44% Cu, 0.16 g/t Au, 53.75 g/t Ag (Figure 1)
- A total of 94 rock chips have been collected between Ridgeline and historical operators. Sample values range from BDL to 10.80% Cu, BDL to 9.56 g/t Au and BDL to 53.75 g/t Ag (avg. 0.96% Cu, 0.02 g/t Au, 1.52 g/t Ag)
For a full table of rock chip values click HERE
Figure 1: Plan view map showing high-grade Cu-Au-Ag rock chips at two porphyry targets (red dash lines) overlying kilometer-scale airborne magnetic highs at Big Blue.
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Notice of Intent Exploration Permit
- The Company holds an active 5-acre Notice of Intent ("NOI") exploration permit at the project which is currently bonded for 4.92 acres of disturbance totaling 38 drill sites and approximately 4,888 linear feet of access roads (Figure 2)
- Less than 0.1 acres has been disturbed to-date and the aforementioned permit may be amended with 30 days written notice to the BLM to revise or add additional drill sites and roads as needed
Figure 2: Plan view map showing the location of 38 permitted drill sites overlying an airborne magnetic map. Ridgeline anticipates revising the permit for additional drill sites over the western porphyry target after completion of the pending IP geophysics survey in late July
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Big Blue Project
Big Blue is located in Elko County, Nevada, approximately seventy-five kilometers ("km") southeast of the city of Elko, NV. The Project includes the past producing Delker Mine, which produced a reported 94,434 pounds of copper at an average grade of 6.2% Cu between 1916-1917 1and shares its southern boundary with Reyna Silver's Medicine Springs Ag-Pb-Zn Carbonate Replacement ("CRD") project. Mineralization occurs as outcropping, high-grade Cu occurrences located proximal to northeast trending felsic dikes that are interpreted as the zoned manifestations off a potential porphyry source, located in the northwest corner of the Big Blue property. Importantly, this target has never been drill-tested. The primary target at Big Blue is porphyry-skarn Cu ± Au-Ag mineralization, with potential to discover polymetallic, carbonate replacement deposit (CRD) style mineralization as the system zones outward over 6 kilometers of strike towards the Medicine Springs project. This target model is analogous to the Butte Valley porphyry Cu-Au system, which is inferred to be the source of CRD mineralization at the Company's nearby Selena project. Big Blue is 100% owned by the Company and is comprised of a total of 41 square kilometers of highly prospective exploration ground that has seen limited exploration since the early 1900's and will benefit from Ridgeline's systematic approach to discovery (view Ridgeline's Corporate 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. Independent check samples are sent to Paragon Geochemical Labs (PAL) of Sparks, Nevada. 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 Minerals is a discovery focused precious and base metal explorer with a proven management team and a 192km2 exploration portfolio across five projects in Nevada, USA. The Company boasts two earn-in exploration agreements with Nevada Gold Mines at its Swift and Black Ridge projects, which are being aggressively explored in 2024. 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 & Director
Ridgeline Minerals Corp.
+1 775 304 9773
cpeters@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 potential benefits of the Transaction and the anticipated timing for completion of the Transaction and filing of the material change report in respect thereof. 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; that all conditions precedent to completion of the Transaction will be satisfied in a timely manner; the current objectives concerning the Project and the Company's other 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; 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.
Sources
1Delker Mine Historic Production (Page 57): Smith, R.M., 1976, Mineral resources of Elko County, Nevada: U.S. Geological Survey Open-File Report 76-56, 201 p.
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