Ridgeline Minerals Corp. Begins Trading on the TSX Venture Exchange
Vancouver, August 17, 2020 - Ridgeline Minerals Corp. (TSXV: RDG) ("Ridgeline" or the "Company") is pleased to announce that its common shares will commence trading on the TSX Venture Exchange ("TSX-V") today at market open under the symbol "RDG". This follows the closing of the Company's oversubscribed and upsized $5 million initial public offering ("IPO") as announced on August 13, 2020.Chad Peters, Ridgeline's President and CEO commented, "On behalf of Ridgeline, I would like to thank our existing and new shareholders for their support throughout this successful IPO process. We look forward to starting this pivotal chapter of Ridgeline's growth as a listed company and owe a huge debt of gratitude to our shareholders, employees, local community, and advisors for enabling Ridgeline to reach this important milestone. We are now well funded to execute our planned 2020 drill programs at our Selena, Carlin-East, and Swift projects located on the prolific Carlin and Battle Mountain - Eureka Gold Trends."
Watch this video to learn more about Ridgeline.
Ridgeline controls three 100% owned and highly prospective gold exploration projects - Selena, Swift and Carlin-East, totaling 116 square kilometers on the Carlin and Battle Mountain-Eureka trends in Nevada (Figure 1.0). The Company's exploration team has been credited with several multi-million-ounce gold discoveries in Nevada. Ridgeline boasts a unique industry-leading drill services contract and is well funded for its budgeted 5,500 meter drill program across all three projects in 2020.
Figure 1.0: Location of Ridgeline's Nevada projects on the Carlin and Battle Mountain - Eureka Trends
To view an enhanced version of Figure 1.0, please visit:
https://orders.newsfilecorp.com/files/7298/61885_3348493024be89d3_002full.jpg
Selena Project
Selena is located in White Pine County, Nevada (NV), approximately 64 kilometers (km) north of the town of Ely, NV and 12 km southeast of the Kinross Gold owned and operated Bald Mountain Mine. The 100% owned project comprises 26 km² of highly prospective ground that has seen limited exploration activity over the past twenty years. The team has identified the Chinchilla and Juniper target areas to be tested in 2020 with positive Phase I trench and drilling results at the Chinchilla target suggesting the potential to discover oxide gold-silver mineralization (Carlin-Type) under shallow cover (Figure 2.0). Phase II drilling consisting of 1,000 meters commenced in August 2020 and will focus on testing both targets at mineralized fault intersections within favourable Pilot and Guilmette formation host rocks. See the August 12, 2020 news release for further details.
Figure 2.0: Selena plan view map showing highlight Phase I surface exploration results at the Chinchilla and Juniper Targets
To view an enhanced version of Figure 2.0, please visit:
https://orders.newsfilecorp.com/files/7298/61885_3348493024be89d3_003full.jpg
Carlin-East Project
Carlin-East is a Carlin-Type gold exploration project located within Nevada's prolific Carlin Trend (Figure 3.0) with Ridgeline holding the option to earn a 100% interest in the project. The property straddles the Eureka and Elko counties in Nevada and is comprised of 422 contiguous federal lode claims and fee lands totaling 39km² of mineral rights. Historic and currently producing mines nearby include the Goldstrike, Leeville, Carlin and Gold Quarry operations, which comprise the Nevada Gold Mines owned and operated Carlin/Goldstrike Complex. Ridgeline's 2019 drill program confirmed its conceptual geologic model at the project by intersecting anomalously altered Lower Plate Rodeo Creek formation at 790 vertical meters. The proposed October 2020 drilling campaign, consisting of 1,000 m, will follow up on the success of the 2019 program by targeting a Leeville deposit analogue within the highly prospective Crash Zone target area.
Figure 3.0: Plan view map showing location of the Carlin-East property on the prolific Carlin Trend
To view an enhanced version of Figure 3.0, please visit:
https://orders.newsfilecorp.com/files/7298/61885_3348493024be89d3_004full.jpg
Swift Project
Swift is a Carlin-Type gold exploration project located on the Cortez District of the Battle Mountain - Eureka Trend (Figure 4.0) in Nevada with Ridgeline holding the option to earn a 100% interest in the project. The Property is immediately adjacent to the historic Elder Creek gold mine as well as directly on trend of The Pipeline, Cortez Hills and Goldrush deposits which comprise the Nevada Gold Mines owned and operated Cortez Complex. Throughout 2019 and H1 2020, Ridgeline completed property-wide geophysics, surface soil sampling and field mapping and will target the highly prospective Fallen City and Goat targets in 2020 with a 3,500 m RC drill program expected to start in September 2020.
Figure 4.0: Plan view map showing location of the Swift property on the prolific Battle Mountain - Eureka trend
To view an enhanced version of Figure 4.0, please visit:
https://orders.newsfilecorp.com/files/7298/61885_3348493024be89d3_005full.jpg
Technical information contained in this news release has been reviewed and approved by Michael T. Harp, P.Geo. the Company's Vice President, Exploration, who is Ridgeline's qualified person under National Instrument 43-101 responsible for technical matters of this release.
About Ridgeline Minerals Corp.
Ridgeline is a discovery focused gold explorer with a proven management team and a 116 km² exploration portfolio across three projects in the highly prospective Carlin and Battle Mountain - Eureka Trends in Nevada, USA. More information about Ridgeline can be found at www.RidgelineMinerals.com.
On behalf of the Board
"Chad Peters"
President & CEÜ
Further Information:
Chad Peters, P.Geo., President & CEO
Ridgeline Minerals Corp.
1-866-RDG-NVAU (734-6828) - toll free
info@ridgelineminerals.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Forward Looking Statements: This press release contains certain forward-looking statements as well as historical information. Readers should not rely on information in this summary for any purpose other than for gaining general knowledge of Ridgeline Minerals Corp. ("Ridgeline", or the "Company"). Forward-looking statements include, but are not limited to, the advancement of mineral exploration, development and operating programs. The words "potential," "anticipate," "significant," "forecast," "believe," "estimate," "expect," "may," "project," "plan" and similar expressions are intended to be among the statements that identify forward-looking statements. Although Ridgeline believes that its expectations as reflected in any forward-looking statements, are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates, opinions or other factors should change.