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Ridgeline Minerals Drills New Mineralized Horizon at the Selena Silver-Gold Project and Reports Remaining Assays from the Phase IV Drill Program

·7 min read

Join us for a Virtual VRIFY Site Tour of Selena at 4:00pm ET July 21, 2021; Register for Free HERE.

Vancouver, British Columbia--(Newsfile Corp. - July 21, 2021) - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) ("Ridgeline" or the "Company") is pleased to announce all remaining assay results from the Company's Phase IV drill program at the Selena oxide silver-gold project ("Selena"), Nevada. Highlights include the discovery of a new mineralized horizon in the Chainman Shale returning up to 3.0 meters ("m") grading 59.8 grams per tonne ("g/t") of silver in hole SE21-027. The Chainman Shale is the host rock to multiple open-pit gold and silver deposits throughout the south Carlin Trend. The remaining ten holes from the fourteen-hole, 3,445m program focused on wide-spaced step-out drilling (average step-out of approximately 220m) across two priority target areas:

  1. Expand the known silver ("Ag") - gold ("Au") - lead ("Pb") - zinc ("Zn") mineralization (see June 15, 2021 press release) towards the Butte Valley Porphyry to the west (Figure 1).

  2. Test shallow oxide Ag-Au mineralization at the Sonic target located 1.3 kilometers ("km") to the north of the main known Ag-Au footprint (Figure 1).

Highlight Intercepts:

  • SE21-027: 3.0m grading 59.8 g/t Ag, 0.02 g/t Au, 0.7% Pb and 0.03% Zn starting at 62 m true vertical depth ("TVD")

    • SE21-027 returned the first mineralized intercept on the property at the Chainman Shale and Joanna Limestone lithologic contact (Figure 2).

  • And 4.6 m grading 156.7 g/t Ag, 0.52 g/t Au, 1.2% Pb and 1.3% Zn starting at 268 m TVD

  • And 4.6 m grading 21.0 g/t Ag, 0.14 g/t Au, 0.5% Pb and 0.2% Zn starting at 276 m TVD

    • Deeper intercepts correlate with the projected down-dip extension of near surface Ag-Au drill intercepts approximately 1.2 km to the east (Figure 2).

  • SE21-028: 108.2 m grading 6.8 g/t Ag, 0.1 g/t Au, 0.1% Pb and 0.2% Zn starting at 246 m TVD (Figure 3).

  • SE21-033: 12.2 m grading 0.3 g/t Ag, 0.51 g/t Au, starting at 23 m TVD

    • Decrease in silver grades at the Sonic target is consistent with the metal zonation pattern surrounding the Butte Valley porphyry (X-Section E-E' Click HERE).

Chad Peters, Ridgeline's President & CEO commented, "Our Phase IV program further supports our interpretation that mineralization at Selena is genetically related to mineralization at the Butte Valley porphyry. Drilling to the west towards the Butte Valley porphyry returned narrow yet relatively high-grade intercepts of Ag-Au-Pb-Zn in SE21-027, which includes our first ever intercept in the Chainman Shale, a prospective new target horizon for future drill programs. Results at the Sonic target to the north were shallow but lower grade, which suggests that the system is weakening to the northeast away from the porphyry system. Future exploration programs will focus on the roughly 3km of untested Ag-Au-Pb-Zn strike potential between the Butte Valley porphyry and the known high-grade mineralization that makes up the core of the Selena deposit."



Figure 1: Plan view map showing highlight drill intercepts over silver equivalent grade thickness ("GT") contours for step-out drill holes SE21-027 to SE21-036.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7298/90813_4a197c323449fa2d_002full.jpg

Table 1: Table of 2021 assay results. For a full table of 2020 assay results click HERE

Hole ID

Az/Dip

From
(m)

To
(m)

Interval
(m)

Ag
(g/t)

Au
(g/t)

AgEq
(g/t)*

AuEq
(g/t)*

Pb
%

Zn%

TVD
(m)**

Target

SE21-023

090/-65

221.0

245.4

24.4

12.3

0.12

21.0

0.29

0.2

0.1

215.0

Infill Program (Released June 15, 2021)

SE21-024

060/-45

221.0

224.0

3.0

53.5

0.04

56.1

0.78

0.6

0.5

168.0

248.4

259.1

10.7

194.0

0.28

213.9

2.97

2.0

1.7

191.0

Including

249.9

254.5

4.6

421.0

0.62

465.4

6.46

4.4

3.7

193.0

SE21-025

005/-70

239.3

283.5

44.2

123.2

0.07

128.4

1.78

1.5

0.6

232.0

Including

262.1

275.8

13.7

221.1

0.14

231.1

3.21

2.2

0.5

249.0

SE21-026

065/-75

No Significant Values

SE21-027

080/-50

146.3

149.3

3.0

59.8

0.02

61.2

0.85

0.7

0.3

62.0

Step-out

356.6

361.2

4.6

156.7

0.52

194.0

2.69

1.2

1.3

268.0

376.4

381.0

4.6

21.0

0.14

31.1

0.43

0.5

0.2

276.0

SE21-028

040/-60

243.8

352.0

108.2

6.8

0.09

13.3

0.18

0.1

0.2

246.0

Infill Program

SE21-031

200/-45

18.3

33.5

15.2

4.1

0.13

13.5

0.19

No Significant Values

11.0

Sonic Target

SE21-033

200/-50

39.6

51.8

12.2

0.3

0.51

37.1

0.51

No Significant Values

24.0

Sonic Target

SE21-035

080/-70

153.9

167.6

13.7

11.5

0.22

27.3

0.38

No Significant Values

125.0

Step-out

* Equivalent grades calculated at Gold $1800.00 and Silver $25.00 (*AgEq= Ag + Au *72, AuEq = Au + Ag / 72) Pb and Zn not included in AqEq or AuEq, no recovery factor has been applied

** TVD - True Vertical Depth to the top of the drilled intercept. (To the extents known, true widths estimated at 80-90% of drilled intercept)



Figure 2: Interpretive X-Section D-D' showing step-out drillhole SE21-027 which confirmed down-dip continuity of mineralization in the Guillmette Limestone and intersected the properties first Chainman Shale intercept.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/7298/90813_4a197c323449fa2d_004full.jpg



Figure 3: Interpretive X-Section C-C' showing infill drillhole SE21-028 which intersected widespread low-grade Ag-Au-Pb-Zn approximately 85m north of high-grade hits in SE20-019 and SE20-021.

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/7298/90813_4a197c323449fa2d_005full.jpg

To view X-sections A-A' Click HERE, B-B' Click HERE, or E-E' Click HERE

Virtual Tour of Selena

Management will host a virtual VRIFY site tour of Selena at 4:00pm ET on July 21, 2021 to discuss Selena's Phase IV drill program. Register HERE.

Selena Silver-Gold Project

Selena is located in White Pine County, Nevada, approximately 64 km north of the town of Ely, NV, and 12 km southeast of the Kinross owned and operated Bald Mountain Gold Mine. The 100% owned property is comprised of 35 square kilometers of highly prospective exploration ground, which has seen limited (View the Selena VRIFY Deck Here) exploration activity over the past twenty years prior to being acquired by Ridgeline in 2019.

QAQC Procedures

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) and 34MA-OESm (35 element Suite; 0.5g 4-acid 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, 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 explorer with a proven management team and a 125 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
"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 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", "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 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; 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/90813