Ridgeline Minerals Corp (CVE:RDG) (OTCQB:RDGMF) unveiled promising drill results from the Phase I drill program at its Swift project in Nevada on Wednesday.
Highlights from the three holes assayed include up to 0.6 grams per ton (g/t) gold, 860 g/t silver and 392 ppm arsenic, which confirmed Ridgeline’s re-interpreted geological model of the Wenban formation.
The results support Vancouver-based Ridgeline’s thesis that Swift has the potential to host a Carlin-type gold discovery similar to major operations in the state like the Goldstrike, Pipeline, and Cortez Hills deposits owned by Nevada Gold Mines, a joint venture between Barrick Gold and Newmont Mining.
READ: Ridgeline Minerals announces the completion of Phase I drilling at the Swift gold project in Nevada
Several intervals from hole SW20-002 include 0.2 metres grading 0.2 g/t gold and 860 g/t silver starting at 872.5 metres; 1.5 metres grading 0.1 g/t gold and 19.2 g/t silver starting at 908.8 metres; and 0.9 metres grading 0.6 g/t gold and 6.6 g/t silver starting at 926.5 metres. The interval contained the highest intercept to date, showcasing discovery potential, according to Ridgeline.
Swift, which is located in Lander County, is an early-stage project with only five deep drill holes that have tested Lower Plate targets across the 50-square-kilometre project area. Ridgeline’s current drill program is the first one conducted in over 20 years at the property.
The intersection of the Wenban formation is a “critical development” for Swift’s geological model, Mike Harp, Ridgeline’s vice president of exploration told shareholders.
“Phase I demonstrated that Swift has the right host lithologies and these rocks are altered and mineralized adjacent to a large buried intrusive, which we interpret as the potential heat and fluid source for the Carlin-Type gold system on the property,” Harp said in a statement. “We will use this data to vector towards projected higher-grade gold mineralization in our Phase II drilling at the Goat Anticline and Mill Creek targets in 2021."
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