Ridgeline Minerals Corp (TSX-V:RDG, OTCQB:RDGMF) has provided an update on the ongoing drill programs and exploration activities at its Selena and Swift projects in Nevada.
Ridgeline president and CEO Chad Peters said the company is excited to see two of its projects being drilled this fall, with exploration expenditures at Swift fully funded by its partners at Nevada Gold Mines.
“Drilling at both Selena and Swift will be complete before the end of the year, and we look forward to releasing assay results as they become available in 2023,” Peters added.
The company said Nevada Gold Mines has completed two of three deep core holes of more than 1,000 metres (m) each as part of its 2022 framework drill program. The third core hole is in-progress with an anticipated completion date before the end of 2022, it added.
READ: Ridgeline Minerals kicks off drilling at the Selena project in Nevada
Ridgeline noted that Barrick Gold, the 61.5% shareholder in the Nevada Gold Mines joint venture, highlighted "significant alteration and anomalous gold" at the Swift project in its November 18, 2022, Investor Day presentation. All assays are currently pending with results expected in the first quarter of 2023.
At the Selena project, Ridgeline said it has completed six of seven holes to date, with an anticipated completion date on or before December 16.
- Two holes were completed at the Chinchilla target with hole SE22-045 added at the end of the program to follow up on positive visual and handheld XRF observations inferred from hole SE22-039.
- One hole was drilled at the Juniper target to test the down-dip continuity of historical drill intercepts located about 500m to the east.
- Four wide-spaced core holes were drilled at the Broken Egg target to test multiple outcropping oxide gold targets.
All assays are currently pending in the first quarter of 2023 with results to be grouped and announced by target, Ridgeline said.
"This was the company's first core program conducted at Selena and we are encouraged by the alteration and mineralization observed in multiple holes so far,” Mike Harp, Ridgeline's vice president for exploration commented.
“What was originally intended as a fall drill program quickly turned into a winter drill campaign, with winter weather conditions arriving a full month earlier than usual for the Selena project. As a result, we added a second drill rig in mid-November to ensure we tested all three targets as planned and deferred three of the ten holes budgeted for this program until next spring when weather conditions improve."
Ridgeline Minerals is a discovery-focused, gold-silver explorer with a proven management team and a 163-square-kilometre exploration portfolio across five projects in Nevada and Idaho.
Contact the author at stephen.gunnion@proactiveinvestors.com