Ridgeline Minerals Corp (CVE:RDG) (OTCQB:RDGMF) (FRA:0GC0) announced it had discovered a new mineralized horizon at its Selena silver-gold project in Nevada.
The discovery came as part of a Phase IV drilling program, which returned intercepts of up to 3 metres (m) 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, according to Vancouver-based Ridgeline.
READ: Ridgeline Minerals expands land package at the Selena Oxide Silver-Gold project in Nevada
The Chainman Shale is the host rock to many open-pit precious metal deposits in the southern Carlin Trend in Nevada.
Ridgeline’s Phase IV program consisted of 3,445m across 14 drill holes. The program was designed to expand the known silver-gold-lead-zinc mineralization towards the west and test the shallow oxide silver-gold mineralization at the Sonic target, located 1.3 kilometres (km) north of the main silver-gold footprint.
Other intercepts included 4.6m grading 156.7 g/t silver, 0.52 g/t gold, 1.2% lead and 1.3% zinc and 4.6m grading 21 g/t silver, 0.14 g/t gold, 0.5% lead and 0.2% zinc.
Exploration potential
Ridgeline CEO Chad Peters told investors that the Phase IV program supports the company’s interpretation that mineralization at Selena is genetically related to mineralization at the Butte Valley porphyry.
“Drilling to the west towards the Butte Valley porphyry returned narrow yet relatively high-grade intercepts of silver-gold-lead-zinc in SE21-027,, which includes our first-ever intercept in the Chainman Shale, a prospective new target horizon for future drill programs,” Peters said in a statement.
“Results at the Sonic target to the north were shallow but lower grade, which suggests that the system is weakening to the northeast away from the porphyry system. Future exploration programs will focus on the roughly 3km of untested silver-gold-lead-zinc strike potential between the Butte Valley porphyry and the known high-grade mineralization that makes up the core of the Selena deposit."
Selena is located in White Pine County, Nevada, around 64km north of the town of Ely, and 12km southeast of the Bald Mountain Gold Mine owned by Kinross Gold.
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