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Ridgestone Provides an Update on Copper & Gold Exploration Initiatives
Vancouver, British Columbia--(Newsfile Corp. - March 30, 2021) - Ridgestone Mining Inc. ( TSXV...
About this update from Ridgestone Mining, Inc.
[{"type":"text","content":"Ridgestone Provides an Update on Copper & Gold Exploration InitiativesVancouver, British Columbia--(Newsfile Corp. - March 30, 2021) - Ridgestone Mining Inc. (TSXV: RMI) (OTCQB: RIGMF) (FSE: 4U5) (\"Ridgestone\") is pleased to provide an update of activities following the closing of two over-subscribed private placements raising $2.32 million earlier this year. The capital raised allows Ridgestone to advance its two principal Mexican properties: the Guadalupe y Calvo gold-silver project in Chihuahua and the Rebeico copper-gold project in Sonora.At Guadalupe y Calvo (GyC), the Company has been working to review and incorporate all the historical data on the project with the aim of formulating a phased exploration drill program for later this year. The GyC project has undertaken over 78,000 metres of historical drilling since the early 2000's. In addition, there has been a significant amount of generative exploration work including prospecting, mapping, sampling, and numerous geophysical and surveying campaigns. The Company anticipates a phased exploration drill program which will serve to confirm the continuity within the historical resource area, in addition to targeting a significant expansion of known mineralization. The Company is finalizing the arrangements for this program, which includes obtaining all the necessary permits and securing a drilling contractor.At the Rebeico project, the Company has been evaluating both exploration and strategic initiatives for the project. Specifically, in the context of the current copper price environment, the project has attracted a significant amount of interest given the widespread high-grade copper and gold mineralization encountered in multiple drilling and sampling programs over the past three years. The project is host to a number of copper exploration targets, including the Alaska Vein and New Year Zone, both of which have intersected significant intervals of copper mineralization in drilling, in addition to a number of prospective targets including the Elena outcrop, El Cobre past-producing mine, and the sizable anomaly identified through an extensive IP geophysical survey. The Company is currently recompiling and reinterpreting the results from prior exploration campaigns and anticipates providing an update in the near-term. \"With the acquisition and financing behind us, we are ...