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Ridgeline Minerals Expands Silver-Gold Discovery at the Selena Project, Nevada

20.01.2021  |  Newsfile

Vancouver, January 20, 2021 - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (WKN: A2QBQ4) ("Ridgeline" or the "Company") is pleased to announce drillhole SE20-022 has expanded the Selena shallow-oxide, silver-gold discovery (See December 9, 2020 press release) 300 meters ("m") to the west of SE20-007 and 600m to the north of discovery hole SE20-021. Wide-spaced drilling has now defined an oxide, silver-gold footprint that outcrops at surface and exhibits exceptional continuity down-dip and along strike for over one kilometer ("km") (Figure 1). Phase III drill program results are highlighted below.

Chad Peters, Ridgeline President & CEO commented, "What has emerged from our 2020 drill program is a new silver-gold discovery that continues to show potential for scale. Our latest drill results further expand the discovery footprint, while also confirming grade continuity across wide-spaced drilling. Our strategy in 2021 is to conduct additional step-out drilling down-dip and along strike of known mineralization with the objective of defining the overall footprint of this exciting new discovery.

Phase III Discovery Highlights (Figure 2):

  • SE20-022: 42.6m grading 16.78 g/t Ag, 0.04 g/t Au or 20.3 g/t silver equivalent ("AgEQ")
    • Including 13.7m grading 38.76 g/t Ag, 0.10 g/t Au or 47.46 g/t AgEq (Table 1)

Ridgeline's technical team observed sample recovery issues throughout the altered and mineralized horizon in SE20-022 due to intense collapse brecciation (caving) of the zone, which is common adjacent to fault zones in Carlin-Type deposits. As a result, SE20-022 returned an average sample loss of 66% by weight compared to representative drill holes nearby (see SE20-022 chip tray photo). The Company will drill a core twin of SE20-022 early in its 2021 drill program to ensure representative sample recovery throughout the collapse breccia zone (Figure 2).

  • Hole SE20-015-018 tested the intended target along the southern extension of the Juniper fault but did not intersect significant mineralization suggesting the system weakens to the southeast

As previously announced on December 9, 2020:

  • SE20-021: 36.6m grading 67.08 g/t Ag, 0.26 g/t Au or 90.05 g/t AgEq
    • Including 22.9m grading 92.57 g/t Ag, 0.36 g/t Au or 123.81 g/t AgEq
  • SE20-019: 15.2m grading 36.54 g/t Ag, 0.43 g/t Au or 74.04 g/t AgEq

Ridgeline's 2021 exploration program at Selena will have two primary goals:

  • Continued expansion of known mineralization defined in 2020 drilling with a focus on testing the projection of shallower host horizons to the west and north, and
  • Test multiple high-priority exploration targets across the 35 square kilometer property with the potential to host additional shallow-oxide "satellite" deposits.

Webinar

Management will be hosting a webinar at 12:00pm ET January 21, 2021 to review accomplishments in 2020 and a look ahead to 2021. Register for free HERE.

Figure 1: Plan view map showing grade thickness ("GT") contours across the new discovery footprint

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7298/72389_94f60a8ee46f4853_002full.jpg

Table 1: Phase III program assay composites, Click Here for a full table of 2020 exploration results

To view an enhanced version of Table 1, please visit:
https://orders.newsfilecorp.com/files/7298/72389_ridgelinetableenhanced.jpg

Minor discrepancies may be noted between tables and figures associated with the January 20, 2021 press release and previously reported exploration results. The Company has adopted a low cut-off grade of 10 g/t silver equivalent when calculating assay composites, which may have resulted in minor changes in size and equivalent grade of select previously reported assay composites.

Figure 2: X-Section A-A' showing highlight results from SE20-22 and proposed step-out drilling in 2021

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/7298/72389_94f60a8ee46f4853_004full.jpg

To view X-section B-B' (drillholes SE20-017 to SE20-021) Click Here

Selena 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 ground, which has seen limited (View Corporate Presentation 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/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.

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
"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" 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; 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/72389


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