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Ridgeline Minerals Announces Nevada Gold Mines to Commence Drilling at the Swift Gold Project, Nevada
Vancouver, British Columbia--(Newsfile Corp. - November 30, 2021) - Ridgeline Minerals Corp. (...
About this update from Ridgeline Minerals Corp
[{"type":"text","content":"Ridgeline Minerals Announces Nevada Gold Mines to Commence Drilling at the Swift Gold Project, NevadaVancouver, British Columbia--(Newsfile Corp. - November 30, 2021) - 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 Corp. and Newmont Corp., has mobilized a drill rig to the Swift Gold Project (\"Swift\") located on 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 US$20 million (US$4 million guaranteed) in qualifying work expenditures over an initial five-year term to earn an initial 60% interest in the Swift gold project. NGM will have further options to increase its interest to a total 75% interest, subject to additional expenditures and commitments. Details of the initial single hole drill program to be completed in Q4, 2021 are highlighted below.Drill Program Highlights The first drill hole (900 metres) will target mineralized fault intersections within favourable lower plate carbonate host rocks of the Wenban and Roberts Mountains Formations (Figure 2).Ridgeline's 2020 Phase I drill program intersected Lower Plate carbonate host rocks of the Cortez District for the first time at Swift including the Wenban Formation (primary host to all >5.0-million-ounce gold deposits in the Cortez District).The target area exhibits a kilometer-scale gold (\"Au\"), coincident Carlin-type pathfinder surface soil anomalies and rock chip samples grading from below detection limit up to 9.82 grams per tonne (\"g/t\") Au (Figure 2).A single historical drillhole (MCK-99-5A) located approximately 750 metres (\"m\") northwest of the target area returned 18.3m grading 0.65 g/t Au and 0.46 g/t Ag starting at a depth of 727 m. Chad Peters, Ridgeline's President, CEO & Director commented, \"In line with our strategy to advance exploration projects to create shareholder value, we are pleased to announce that our partner, Nevada Gold Mines, has commenced drilling at the Swift gold project. NGM has been working closely with Ridgeline to target this initial drill hole following the recent execution of the Earn-In A...