leadf
logo-loader
viewRidgeline Minerals
(
TSX-V:RDGOTCQB:RDGMFFRA:0GC0
)

Ridgeline Minerals boasts one of the largest junior-controlled land packages in gold-rich Nevada

Snapshot

The company’s 125-square kilometre portfolio represents an opportunity to make a new discovery in proven districts where big miners are among its neighbours

Ridgeline Minerals -

Quick facts: Ridgeline Minerals

Follow
TSX-V:RDG

Price: 0.5 CAD

Market Cap: $27.83 m
  • Nevada-focused precious metals explorer with a 125-square kilometre exploration portfolio across four projects
  • New shallow-oxide, silver-gold discovery at Selena
  • Experienced executive team fully aligned with shareholders through 17% share ownership
  • Drilling services contract with Envirotech Drilling that ensures dollars are spent at the drill bit to maximize discovery potential

What Ridgeline Minerals does:

Ridgeline Minerals Corp (CVE:RDG) (OTCQB:RDGMF) is a new gold-silver explorer with four early-stage assets in the prolific Carlin and Battle Mountain-Eureka Trends of Nevada.

Unlike many junior explorers of a similar size, the firm holds a 100% interest in four core land positions: the highly prospective Carlin-East, Bell Creek, Swift and Selena projects, which are all equally strong prospects.

Together, Ridgeline’s portfolio represents an opportunity to make a new discovery in proven districts where big names like Nevada Gold Mines (a joint venture between Barrick Gold and Newmont) and Kinross Gold are among its neighbours.

Carlin East is comprised of 422 contiguous federal lode claims and fee lands totaling 39 square kilometres of mineral rights straddling Eureka and Elko counties. West of Carlin East is Bell Creek, a Carlin-type gold exploration project comprised of 1,300 acres of private mineral rights directly adjacent to Nevada Gold Mines Ren-Banshee deposits and on-trend of the multi-million-ounce Goldstrike and Rodeo-Meikle deposits.

Swift is an early-stage gold project that has not been explored in decades but shows significant potential to host a high-grade Carlin-Type deposit within the same Lower Plate carbonate package responsible for the world-class gold endowment of the Cortez District.

It is Selena, however, that has up until now been Ridgeline’s primary focus for drilling. Assays received to date suggest the project is host to an oxidized, silver-enriched, Carlin-Type gold system with a silver-to-gold ratio typically exceeding 100 to 1. Although early days, these silver grades are roughly three times higher than the largest operating open-pit silver mine in Nevada.

The company boasts a unique drilling services contract provided by Ridgeline’s co-founder Steve Neilsen, owner of Envirotech Drilling LLC. The synergies give Ridgeline a competitive advantage over its peers and ensures exploration dollars are going into the ground early to maximize the odds of discovery.

As a company with a market value of around C$32 million, Ridgeline is a well-funded junior with C$5.8 million in cash as of the beginning of June. Led by CEO Chad Peters and a team of experts with previous success in Nevada under their belts, the junior company is hoping its prime location will help create excitement at the drill bit for shareholders.

How is it doing:

Ridgeline is keeping up the pace as it heads into a busy summer season.

At Selena, drilling revealed a new mineralized horizon, returning intercepts of up to 3 metres at 59.8 grams per ton (g/t) silver. The hole was the first mineralize intercept on the property at the Chainman Shale and Joanna Limestone lithologic contact.

The Chainman Shale is the host rock to many open-pit precious metal deposits in the southern Carlin Trend in Nevada.

The news validated Ridgeline’s earlier decision to expand its land package at Selena by another 868 acres of ground directly on-trend of the high-grade silver-lead-zinc drill intercepts. Selena now comprises 467 contiguous claims across 9,626 acres (39 square kilometers).

Other results reported from the 3,445-metre program at Selena include an intercept of 10.7m grading 194 g/t silver, 0.3 g/t gold, 2% lead, 1.7% zinc starting at a depth of 191m in one hole. Also hit was 13.7m grading 221.1 g/t silver, 0.1 g/t gold, 2.2% lead and 0.5% zinc starting at 249m depth in another hole.

Selena hasn’t been Ridgeline’s sole focus over the summer, however – the firm is also busy at its Swift and Carlin East projects. At Swift, the company boosted its land package by about 50%, staking an additional 312 claims surrounding the project in a bid to consolidate the projected strike extent of two prospective targets.

A Phase 2 drill program is also underway at the Carlin-East gold project, where Ridgeline is planning to sink 3,000 metres, including three deep core holes, to target prospective Lower Plate carbonate host rocks of the Popovich and Bootstrap formations at the Crash Zone target.

And finally at Bell Creek, Ridgeline recently announced the execution of a surface access agreement for its Bell Creek property with Nevada Gold Mines (NGM). The agreement, which is effective through December 31, 2024, will allow Ridgeline to utilize NGM's Carlin Complex road infrastructure to access the Bell Creek property, which is located directly adjacent to NGM's development-stage Ren and Banshee underground gold deposits on the Carlin Trend.

Inflection points:

  • Results from Carlin-East drill program expected in late summer 2021
  • Maiden drill programs at the Mill Creek and Goat Anticline targets at Swift
  • Further exploration at Selena planned for 2022

What the boss says:

Commenting on the latest results from Selena’s drill program, CEO Chad Peters told Proactive: “This is still a very early-stage project. We just announced a discovery there in December 2020 and this is the first follow up program since announcing that discovery.”

Peters added: “What we’re trying to do is show scale, which I think we have. We know that we have grade. What’s really exciting to see now is we’re starting to see this silver-lead-zinc component, the high-grade portion of this system start to show as we drill towards the west.”

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...

FOR OUR FULL DISCLAIMER CLICK HERE

Ridgeline Minerals drill program at Selena Silver-Gold Project uncovers...

Ridgeline Minerals (CVE: RDG – OTCQB: RDGMF) CEO Chad Peters joined Steve Darling from Proactive to share news, the remaining assay results from their Phase 4 drill program at the Selena Project has led to a discovery of a new mineralized horizon in the Chainman Shale Peters telling Proactive...

on 07/21/2021

5 min read