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Vancouver, British Columbia--(Newsfile Corp. - July 8, 2021) - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) ("Ridgeline" or the "Company") is pleased to announce the staking of an additional 312 Bureau of Land Management ("BLM") lode claims (6,439 acres) at the Swift gold project ("Swift") in Nevada. Swift, a Carlin-type gold exploration project, now comprises 1,097 BLM claims (14,651 acres) and 3,697 acres of private fee ground for a combined total of 18,348 acres or 75 square kilometers ("km") (Figure 1).
The new claims were staked to consolidate the projected strike extent of the Mill Creek and Goat Anticline targets, with the exploration potential at both targets increasing substantially after Ridgeline's Phase I drill program in 2020 confirmed the presence of the fully preserved Wenban Formation stratigraphic section, (see January 13, 2021 press release). Wenban host rocks had never been identified at Swift until Ridgeline's Phase I program, which is a significant development for the project as the Wenban is the primary host to all greater than five million-ounce gold deposits in the Cortez district of the Battle Mountain - Eureka trend including Nevada Gold Mine's Pipeline, Cortez Hills, Goldrush and Fourmile deposits.
Chad Peters, President & CEO commented, "We are delighted to substantially increase our landholdings in the Cortez District, which continues to yield high-grade gold discoveries at a pace unmatched anywhere else in Nevada. Swift now represents a district-scale exploration opportunity with the potential to host multiple Carlin-Type gold discoveries."
Mill Creek Target
A single historical drillhole (MCK-99-5A) intersected 18.3m grading 0.65 g/t gold and 0.40 g/t silver starting at 727 meters ("m") in the Wenban formation (historically mis-identified as Roberts Mountain Formation host rocks).
Drilling also intersected a 25m thick altered lamprophyre sill directly above the mineralized intercept, (lamprophyres are commonly associated with Carlin-Type gold systems in Nevada).
MCK-99-5A never received a follow-up drillhole with Ridgeline interpreting the intercept as the low-grade mineralized "halo" adjacent to a potentially higher-grade Carlin-Type gold system (See X-Section HERE).
Goat Anticline Target
6 km long regional anticline target (Figure 1) which is host to the historical Elder Creek open-pit gold mine, (oxide gold deposit mined in the 1990's).
Widespread surface Au-As-Sb soils anomalies on-trend of the Elder Creek mine suggest potential for a covered Carlin-Type gold target in untested Wenban host rocks at depth, (See X-Section HERE).
Northwest trending dike swarms of felsic to lamprophyre composition mapped at surface.
Figure 1: Plan View Map showing recently staked claims (red) on-strike of the Company's Mill Creek and Goat Anticline targets
To view an enhanced version of Figure 1, please visit:
Swift is located on the Cortez District of the historic Battle Mountain - Eureka Trend approximately 30 km south of the town of Battle Mountain, in Lander County, Nevada. The 75km² property is immediately adjacent to the historic Elder Creek gold mine and on trend to the Pipeline, Cortez Hills, and Goldrush 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.).
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 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
President & CEO
Chad Peters, P.Geo.
President & CEO
Ridgeline Minerals Corp.
1-866-RDG-NVAU (734-6828) - toll free
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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/89749