Business
Vior Maintains Its 9.9% Equity Interest in Nevada Focused Ridgeline Minerals Corp.
MONTREAL, QC / ACCESSWIRE / March 11, 2020 / SOCIÉTÉ D'EXPLORATION MINIÈRE VIO...
About this update from Vior Gold Corporation Inc.
[{"type":"text","content":"Vior Maintains Its 9.9% Equity Interest in Nevada Focused Ridgeline Minerals Corp.MONTREAL, QC / ACCESSWIRE / March 11, 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% ownership interest in three highly prospective Carlin-Type gold projects in the world-class Carlin and Battle Mountain-Eureka Trends of Nevada.Vior has made an additional investment of $167,750 in the 2nd tranche of Ridgeline's second seed round of financing, providing it with a non-diluted equity interest of 9.9% in Ridgeline. This brings Vior's total investment in Ridgeline to $625,850 for a total of 3,642,500 shares. Ridgeline is targeting an initial public offering (IPO) and listing on the TSX.V in 2nd Quarter 2020.Ridgeline's highly prospective 110-km² exploration portfolio which includes the Carlin-East, Swift and Selen projects (Figure 1), represents 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 drilling partnership with Envirotech Drilling LLC to significantly reduce direct drilling costs at a 60% discount to market rates through 2022. This will ensure that more exploration dollars are going in the ground early in the exploration cycle.Carlin-East is a 34-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 h...