- Company has expanded the Big Blue land position by 23%
- Visible gold noted in quartz vein in high-grade Au rock chip sample
- Induced Polarization geophysics survey complete August 20th
Vancouver, British Columbia--(Newsfile Corp. - September 5, 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 of up to 3.9 percent ("%") copper ("Cu") and 16.3 grams per tonne ("g/t") gold ("Au"), with visible gold ("VG") noted in the same quartz veins hosting high-grade Au mineralization (Figure 1 & Picture 1) at the Big Blue ("Big Blue") porphyry Cu-Au project in Elko County, Nevada.
Sampling was completed by Ridgeline's technical team with the highlight rock chips taken from a recently identified historical prospect pit located approximately 300 meters ("m") west of the high-grade Cu-Au rock chips announced on June 27, 2024 (see press release HERE). The Company has since staked an additional 111 lode claims totaling 2,293 acres to fully encompass the proposed porphyry target on the west side of the property (Figure 2), which will be referred to as the "Ohio" target moving forward. The combined Big Blue property now totals 602 lode claims totaling 12,463 acres (~50 square kilometers).
Michael Harp, Ridgeline's Vice President, Exploration commented, "Today's rock chip results represent the highest-grade gold samples at the Big Blue project to-date, with visible gold noted in our highlight rock chip sample. Between the Delker Mine and Ohio targets we have defined a kilometer-scale porphyry Cu-Au footprint that exhibits increasing gold and molybdenum grades towards the Ohio target, which suggests a potential vector to the porphyry system to the west. Our IP geophysics survey is now complete and preliminary results indicate the potential for coincident chargeability anomalies at both porphyry targets, we eagerly anticipate the final IP results over the coming weeks."
Surface Sampling Highlights:
- Ohio Target: 3.9% Cu, 16.3 g/t Au, 0.03 g/t silver ("Ag") (see VG in Picture 1) and 0.1% Cu, 0.01 g/t Au, 0.1 g/t Ag, from two rock chip samples taken from separate quartz veins located in an outcropping historical prospect pit
- June 27, 2024, press release: 0.44% Cu, 9.56 g/t Au, 0.30 g/t Ag and 0.25% Cu, 0.10 g/t Au, 0.20 g/t Ag from two rock chip samples taken from two separate prospect pits with outcropping quartz veins
- The presence of highly elevated molybdenum ("Mo") values in the four rock chips taken at the Ohio target (average of 219.6 parts per million ("ppm") Mo) compared to 112 rock chips in the Delker Mine area (average of 9.9 ppm Mo) continues to support the Company's interpretation that the porphyry system may be vectoring towards the west
- June 27, 2024, press release: 0.44% Cu, 9.56 g/t Au, 0.30 g/t Ag and 0.25% Cu, 0.10 g/t Au, 0.20 g/t Ag from two rock chip samples taken from two separate prospect pits with outcropping quartz veins
- 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, BDL Ag (Figure 1 & Picture 2)
- Skarn Hill: 6.44% Cu, 0.16 g/t Au, 53.75 g/t Ag
- A total of 116 surface rock chips have been collected between Ridgeline and historical operators. Sample values range from Below Detection Limit ("BDL") to 15.49% Cu, BDL to 16.3 g/t Au and BDL to 53.75 g/t Ag (avg. 0.96% Cu, 0.28 g/t Au, 1.47 g/t Ag)
For a full table of rock chip values click HERE
Figure 1: Plan view map showing Cu-Au surface rock chips at the Ohio and Delker porphyry targets (red dash lines) overlying kilometer-scale airborne magnetic highs
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Picture 1: Picture of quartz vein with visible gold and copper oxide mineralization as well as lesser amounts of unoxidized chalcopyrite
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Figure 2: Plan view map showing the 111 claims (yellow border) staked by the Company to fully encompass the magnetic anomaly that defines the Ohio target
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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.
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 historically produced 94,434 pounds of copper at an average grade of 6.2% between 1916-1917 1 from structurally controlled skarn deposits outcropping between the Delker Mine and Skarn Hill Adit. The property shares its southern boundary with Reyna Silver's Medicine Springs Ag-Pb-Zn Carbonate Replacement ("CRD") project and had seen limited modern exploration in over a century until Ridgeline staked the property in 2023. The primary target at Big Blue is porphyry-skarn Cu-Au ± Ag-Mo 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 50 square kilometers of highly prospective exploration ground that will benefit from Ridgeline's systematic approach to discovery (view Ridgeline's Corporate Deck HERE).
About Ridgeline Minerals Corp.
Ridgeline Minerals is a discovery focused precious and base metal explorer with a proven management team and a 201km2 exploration portfolio across five projects in Nevada, USA. The Company is a hybrid explorer with a mix of 100%-owned exploration assets as well as two earn-in exploration agreements with Nevada Gold Mines at its Swift and Black Ridge projects and a third earn-in with South32 at its Selena project. 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 Earn-In Agreement (including the Proposed Work Program, Year 1) and the transactions contemplated thereby (collectively the "Earn-In Transaction"). 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 the Earn-In 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. In addition, this news release contains information about adjacent properties on which Ridgeline has no right to explore or mine. Readers are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company's properties. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222222
SOURCE: Ridgeline Minerals Corp.
