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Nevada Gold Mines Commences Drill Program at Ridgeline Minerals's Swift Gold Project, Nevada
Vancouver, British Columbia--(Newsfile Corp. - August 10, 2023) - Ridgeline Minerals Corp. (TSXV:...
About this update from Ridgeline Minerals Corp
[{"type":"text","content":"Nevada Gold Mines Commences Drill Program at Ridgeline Minerals's Swift Gold Project, NevadaVancouver, British Columbia--(Newsfile Corp. - August 10, 2023) - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) (\"Ridgeline\" or the \"Company\") is pleased to announce that Nevada Gold Mines LLC (\"NGM\" or \"Nevada Gold Mines\"), a joint venture between Barrick Gold and Newmont Corp., has mobilized a drill rig to the Swift Gold Project (\"Swift\") located in the Cortez District of the Battle Mountain - Eureka mine trend (Figure 1). Ridgeline entered into an exploration earn-in agreement with NGM on September 22, 2021 (see press release HERE) where NGM can incur a minimum of US$ 20 million (of which US$ 5 million has been spent to-date) in qualifying work expenditures over an initial five-year term to earn an initial 60% interest in Swift, and will have further options to increase its interest to a total 75% interest. Details of the proposed drill program are highlighted below. Drill Program Highlights Drill hole SW23-005 will target the intersection of proposed low-angle structures and favourable lower plate carbonate host rocks of the Wenban and Roberts Mountains Formations.Drill hole will provide key litho-structural information between historical drill intercepts in hole MCK-99-5A (18.3 meters (\"m\") grading 0.64 grams per tonne (\"g/t\") gold (\"Au\")) and 2022 NGM drill intercepts in SW22-002 (41.9 m grading 0.26 g/t Au) and SW22-003 (48.8 m grading 0.45 g/t Au), (see Figure 2 and February 16, 2023 press release HERE)Drill hole SW22-004 will be extended from a starting depth of 1,104 m where the hole was previously halted by NGM in January 2023 due to severe winter weather conditions.Drilling returned up to 3.0 m grading 2.27 g/t Au in Upper Plate rocks prior to intersecting Lower Plate host rocks at 1,065 m (Figure 2).Hole will be extended through prospective host rocks to an anticipated depth of 1,500+ meters.Chad Peters, Ridgeline's President, CEO & Director commented, \"To date, we are very encouraged by the exploration results at Swift with early results highlighting the potential to discover a large Carlin-Type gold system. The Nevada Gold Mines team has done an exceptional job generating a property-wide geologic model and SW23-005 will target a highly prospective structural corridor bounded by mineral...