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Vior Announces Increased Investment to 9.9% in Private Nevada Gold Explorer
MONTREAL, QC / ACCESSWIRE / January 17, 2020 / SOCIÉTÉ D'EXPLORATION MINIÈRE V...
About this update from Vior Gold Corporation Inc.
[{"type":"text","content":"Vior Announces Increased Investment to 9.9% in Private Nevada Gold ExplorerMONTREAL, QC / ACCESSWIRE / January 17, 2020 / SOCIÉTÉ D'EXPLORATION MINIÈRE VIOR INC. (\"Vior\"), (TSXV:VIO)(FRANKFURT: VL51) - is pleased to announce a further strategic investment in Ridgeline Minerals Corp(\"Ridgeline\")(formerly Carlin-Type Holdings Ltd.). This is an arm's length transaction. Ridgeline is a private \"Corporation\", incorporated under the Business Corporations Act (British Columbia) whose wholly owned Nevada subsidiary holds the option to acquire a 100% interest in three highly prospective Carlin-Type gold exploration projects in the world-class Carlin and Battle Mountain Eureka Trends of Nevada.Vior has made an additional investment of $247,500 in the 1st tranche of Ridgeline's second round of financing, providing it with a non-diluted equity interest of approximately 9.9% in Ridgeline. Vior has also been granted a Participation Right to maintain its 9.9% equity interest( pro-rata basis) in Ridgeline's 2nd tranche (expected early February, 2020) of this second round of private placement equity financing.Ridgeline's highly prospective Carlin-East (1,700 hectares), Swift (2,792 hectares) and Selena (2,590 hectares) projects (Figure 1) represent a unique opportunity to make a new discovery in proven mining districts within the No.1 ranked mining jurisdiction in the world.Figure 1: Location of Ridgeline's properties on the Carlin and Battle Mountain - Eureka TrendsRidgeline will further increase the odds of discovery by leveraging its strategic partnership with Envirotech Drilling LLC to significantly reduce direct drilling costs, ensuring exploration dollars are going in the ground during the early phase of the exploration cycle.Carlin-East is a 33-square kilometer underexplored core land position in the Carlin Trend that is on trend with Newmont's multi-million ounce Leeville-Turf gold mine and adjacent to Barrick's multi-million ounce Goldstrike complex. The primary ore controlling structures (Leeville Corridor) of the Leeville-Turf mine extend onto the Carlin-East property and coincide with a pronounced gravity geophysics high. A single Ridgeline drillhole (CE19-001) in 2019 confirmed a depth to Lower Plate of 790 vertical meters (2,600 ft.) within this structural corridor. Ridgeline has since defined a highly prospect...