Ridgeline Minerals Drills Shallow Oxide Gold-Silver Mineralization in Seven of Ten Holes at the Selena Gold-Silver Project, Nevada
Vancouver, September 15, 2020 - Ridgeline Minerals Corp. (TSXV: RDG) ("Ridgeline" or the "Company") 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 1.0 below.
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."
Here's Mike Harp, Vice President, Exploration discussing the Phase II program (click thumbnail below)
To view an enhanced version of this graphic, please visit:
Table 1.0: Phase I & II drill program assay results
|Drill hole||Az/Dip||From (m)||To (m)||Int: (m)||Au (g/t)||Ag (g/t)||AuEq (g/t)*||Target|
|Phase I - 4 reverse circulation holes totaling 350m|
|Phase II - 10 reverse circulation holes totaling 1,155m|
|SE20-009||150/-65||No Significant Values||Juniper|
|SE20-011||000/-90||No Significant Values||Juniper|
|*AuEq = Au + (Ag/74); no recovery factor has been applied |
To the extents known, true widths estimated at 80-90% of drilled intercept
Drill hole SE20-013 and SE20-014 returned the strongest mineralized intercepts drilled to-date at Selena and were the first holes designed to directly test the Juniper fault zone which is part of a larger northwest-trending dike-filled corridor connecting the Chinchilla and Juniper targets (Figure 2.0). The 1,500m Phase III drill program in October will target gold-silver mineralization within favourable lithologies at the intersection of northwest-trending fault zones, which are interpreted to be the primary feeder zones to the mineralizing system at Selena (Figure 3.0). Prior to initiating the Phase III program, the team will incorporate the results of 150 additional soil samples (assays pending) taken along the western margins of the high-priority Tyrent and Maximus fault zones which parallel the mineralized Juniper fault zone.
Drill assays exceeding 0.20 g/t Au trigger an automatic Au-Ag cyanide solubility test (Cyanide Shake) for all drill samples. Cyanide shake results for gold ranged between 43-97%, with an average Au Cyanide Solubility of 81%. Cyanide shake results for silver ranged between 10-95% with an average Ag Cyanide Solubility of 74%. Preliminary results suggest mineralization at the Selena project is oxide in nature and may be amenable to heap leach processing methods. Due to the early stage nature of the Selena project additional metallurgical testing is required to better define potential metallurgical recoveries.
Selena is in White Pine County Nevada, approximately 64 kilometers (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 26 square kilometers of highly prospective ground and had seen limited exploration activity over the past twenty year prior to being acquired by Ridgeline in 2019.
Figure 1.0: Plan view map showing location of Phase I (green), Phase II (red) and proposed Phase III (grey) drill holes. Elevated Arsenic (As) and Antimony (Sb) surface soil contours highlight multiple geochemical anomalies along parallel northwest fault zones. Arsenic and Antimony are both known Carlin-Type pathfinder elements used to target covered Carlin-Type gold systems in Nevada
To view an enhanced version of Figure 1.0, please visit:
Figure 2.0: Chinchilla Schematic Long Section A-A' showing Phase II drill results and potential Phase III drill targets at the Tyrent fault zone located approximately 300m to the west of SE20-007
To view an enhanced version of Figure 2.0, please visit:
Figure 3.0: Juniper Schematic Long Section B-B' showing Phase II drill results and potential Phase III drill targets at the Maximus and Tyrent fault zones
To view an enhanced version of Figure 3.0, please visit:
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 responsible for technical matters of this release.
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/ICP+10ppb Hg by MS) and 35AR-OESm (35 element Suite; 0.5g AQR 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.
About Ridgeline Minerals Corp.
Ridgeline is a discovery focused gold explorer with a proven management team and a 116 km² exploration portfolio across three 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
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.
Forward Looking Statements
This press release contains certain forward-looking statements as well as historical information. Readers should not rely on information in this summary for any purpose other than for gaining general knowledge of Ridgeline Minerals Corp. ("Ridgeline", or the "Company"). Forward-looking statements include, but are not limited to, the advancement of mineral exploration, development, and operating programs. The words "potential," "anticipate," "significant," "forecast," "believe," "estimate," "expect," "may," "project," "plan" and similar expressions are intended to be among the statements that identify forward-looking statements. Although Ridgeline believes that its expectations as reflected in any forward-looking statements, are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates, opinions, or other factors should change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/63842