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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

Price: 0.45 CAD

TSX-V:RDG
Market: TSX-V
Market Cap: $21.66 m
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  • 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$24 million, Ridgeline is a well-funded junior with C$3.4 million in cash as of the beginning of February. 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 has started off 2021 on the right foot thanks to successful 2020 drill programs at Selena and Swift.

In December 2020, the company reported a shallow oxide, silver-gold discovery at Selena, highlighted by 36.6 meters (m) grading 67.08 grams per ton (g/t) silver (Ag) and 0.26 g/t gold (Au). The discovery came after a 22-hole program totaling 3,223m. Wide-spaced drilling defined an oxide, silver-gold footprint that outcrops at surface and extends for over one kilometer (km) down-dip and along strike.

Soon after the discovery, Ridgeline added another 87 lode claims for an additional 1,780 acres, bringing the total project area to 8,203 acres of prospective ground in Nevada. The new claims are directly on-trend of the silver-gold discovery.

In January, Ridgeline reaffirmed the discovery’s potential for scale, with further results expanding the discovery footprint and confirming grade continuity across wide-spaced drilling.

A few weeks later, Ridgeline revealed that recently acquired historical data extended the strike length at Selena by around 1.3km to the north of the discovery. Highlights from the historical data reveal multiple drill holes that returned shallow intercepts of silver and gold at grades between 17 g/t and 30 g/t silver equivalent. In addition, high-grade rock chips adjacent to and along strike of the earlier discovery include individual samples of up to 725 g/t silver and 12.4 g/t gold at surface, indicating high-priority exploration targets for a 2021 drill program.

While the news flow was coming out of Selena, work continued at the Swift project as well. A Phase I drill program comprised of three diamond drill core holes totaling 2,413m was focused on the untested Fallen City target, with the primary objective of targeting the intersection of the down-dip projection of a kilometer-scale Carlin-Type pathfinder gold soils anomaly.

The results supported Ridgeline’s thesis that Swift has the potential to host a Carlin-type gold discovery similar to major operations in the state. Highlights from the three holes assayed include up to 0.6 g/t gold, 860 g/t silver and 392 parts per million (ppm) arsenic, which confirmed Ridgeline’s re-interpreted geological model of the Wenban formation.

Ridgeline has also been buoyed by high-grade exploration results from Barrick’s North Leeville Discovery, located approximately 3.5km southwest of Carlin-East. Two of Barrick’s four priority resource expansion targets in Nevada are on-trend of Ridgeline’s Carlin-East (North Leeville) and Bell Creek (Ren) properties, with North Leeville exhibiting multi-million-ounce growth potential, according to Ridgeline.

Inflection points:

  • More results from Selena drill program expected in April 2021
  • Drill test Carlin-East target
  • Maiden drill programs at the Mill Creek and Goat Anticline targets at Swift

What the boss says:

Commenting on the expansion of the silver-gold discovery at Selena, Ridgeline CEO Chad Peters told shareholders: "What has emerged from our 2020 drill program is a new silver-gold discovery that continues to show potential for scale.”

Peters added: "Our latest drill results further expand the discovery footprint, while also confirming grade continuity across wide-spaced drilling. Our strategy in 2021 is to conduct additional step-out drilling down-dip and along strike of known mineralization with the objective of defining the overall footprint of this exciting new discovery."

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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Ridgeline Minerals takes big step forward by doubling strike length at...

Ridgeline Minerals (CVE: RDG- OTCQB: RDGMF) CEO Chad Peters joined Steve Darling from Proactive to share news the company has been able to double the size of strike length at their Selena Project in Nevada. Peters told Proactive the increase of 1.3 KM was due to historical work they gained...

3 weeks, 1 day ago

5 min read