Ridgeline Minerals Provides Drill Program Updates for Swift and Selena Gold-Silver Projects, Nevada

Newsfile Corp.
·4 min read

Vancouver, British Columbia--(Newsfile Corp. - October 28, 2020) - Ridgeline Minerals Corp. (TSXV: RDG) ("Ridgeline" or the "Company") is pleased to provide a drill program update for its Swift gold project ("Swift") and its Selena shallow oxide gold-silver project ("Selena") in Nevada.

At Swift, the Company is in the process of completing the remaining 1,500 meters ("m") of the planned 3,000m Phase I drill program, which is targeting the same carbonate (Lower Plate) host rocks that host the multi-million ounce Pipeline, Cortez Hills and Goldrush deposits on-trend to the southeast. All planned reverse circulation ("RC") pre-collars are complete, and the program has recently transitioned to diamond drill core-tails, which will increase drilling productivity and allow the Company to collect higher quality downhole data. Drilling completed to-date has intersected favourable carbonate host rocks at relatively shallow depths (less than 600m vertical) with variable Carlin-Type alteration and mineralization assemblages noted within multiple carbonate debris flow horizons. The assay results for the first two holes are pending with anticipated completion of the program in late November.

Today at Selena, Ridgeline mobilized an RC drill rig to complete a minimum 1,500m Phase III drill program with the objective of increasing both the grade and thickness of previously announced (September 15, 2020) oxide gold-silver results from the Phase II drill program. Drilling will also test a highly elevated gold-arsenic-antimony surface soils anomaly that extends over a strike length of 1+ kilometer ("km") between the Chinchilla and Juniper targets. Anticipated completion of the program is in late November with assay results to be released as they are received.

Phase II highlight drill results included:

  • RC hole SE20-005: 4.6 m @ 1.62 g/t gold and 25.73 g/t silver starting at 35.1m downhole

  • RC hole SE20-007: 3 m @ 0.41 g/t gold and 792.3 g/t silver starting at 135.6m downhole

  • RC hole SE20-014: 29 m @ 0.38 g/t gold and 65.28 g/t silver starting at 126.5m downhole

Swift Project

Swift is located in the Cortez District of the historic Battle Mountain - Eureka Trend immediately adjacent to the historic Elder Creek gold mine and on trend to the Pipeline, Cortez Hills and Goldrush deposits (view our Swift VRIFY deck), which comprise the multi-million ounce Cortez Complex owned by Nevada Gold Mines (a joint venture between Barrick Gold and Newmont Gold). The property is located approximately 30 km south of the town of Battle Mountain, in Lander County, Nevada.

Selena Project

Selena is a shallow-oxide, gold-silver exploration play located on the southern extension of the Carlin trend just 12 km southeast of the Bald Mountain gold mine owned by Kinross Gold Corp (view our Selena VRIFY deck). The property is located approximately 64 km north of the town of Ely in White Pine County, Nevada.

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
"Chad Peters"
President, CEO and Director

Further Information:
Chad Peters, P.Geo.
President, CEO and Director
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.

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 Corporation ("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/66992