Ridgeline Minerals Reports Final Results for the Crash Zone Drill Program at the Carlin-East Gold Project, NevadaVancouver, Canada, )
Drill Program Summary
• CE21-003 drilled to a depth of 1,254 metres (“m”) and was the only core-hole of the planned three-hole (3,000m) program to reach a minimum target depth of 1,000m or greater. The hole did not intersect significant gold values or the intended Lower Plate carbonate rock package that hosts gold mineralization at multiple open-pit and underground mines on the north Carlin Trend (Figure 2).
o CE21-003 is interpreted to have drilled the deeper, down-dropped (hanging-wall) side of a major NW fault Zone resulting in the hole drilling an over-thickened, strongly sheared section of Upper Plate Vinini formation (Figure 2).
• Drilling intersected greenstone and limestone marker beds of the Lower Vinini formation as well as narrow zones (1-10m) of strongly sheared and hydrothermally altered intervals of Vinini mudstone.
o Ridgeline geologists interpret these stratigraphic marker beds as an indication that CE21003 was nearing the Roberts Mountain Thrust (“RMT”) contact (The RMT marks the transition between Upper and Lower Plate rocks) prior to termination of the drill hole (Figure 3).
o Future drilling will target shallower (900 to 1,100m) Lower Plate host rocks in the adjacent fault block directly to the south of CE21-003, where marker beds of the middle Vinini formation have been intersected at substantially shallower depths in both CE21-004 and CE21-005, which are cased and ready for re-entry at a future date (Figure 2).
• Due to the depth of drilling required to hit target rocks (1,000+ metres) the company was unable to utilize its strategic reverse circulation (“RC”) drilling contract beyond depths of 400-500m. A third-party diamond core company was contracted to complete the “core-tails” to target depths.
o Challenging drilling conditions in both CE21-003 and CE21-005 led to inadequate daily drill production, culminating in a lost hole in CE21-005 which further contributed to increases in drilling costs that made continuing the program untenable for the Company.
o As a result, the company terminated the remainder of the program and left both CE21004 and CE21-005 cased and ready for re-entry at a time when the Company can
negotiate a more equitable drilling contract.
Chad Peters, Ridgeline’s President, CEO & Director commented, “This was a challenging drill program for our team and unfortunately we did not achieve our primary objective of intersecting Lower Plate host rocks at the Crash Zone. Only one-of-three planned holes reached target depths indicating the Crash Zone target has not been adequately tested and we believe there is still potential for a discovery to be made at Carlin-East. Deep drilling is always a challenge in Nevada and demand for drilling services is the highest I’ve seen in my ten years working in the state. In the case of Carlin-East, it’s not in the Company or our shareholders best interest to continue drilling 1,000+ meter holes until we can secure a more equitable core drilling contract once the demand for drill rigs has cooled. Our land position in the North Carlin Trend remains the largest of any company aside from Nevada Gold Mines and we will continue to strategically advance both Carlin-East and our neighbouring Bell Creek project forward in 2022.”
Carlin-East is a Carlin-Type gold exploration project located within the prolific Carlin Trend. The project area straddles Eureka and Elko counties in Nevada and is comprised of 422 contiguous federal lode claims and fee lands totaling 35 km² of mineral rights. Historical and currently producing mines nearby include the Goldstrike, Leeville-Turf, Meikle-Rodeo, and Genesis-Bluestar operations. (View the Carlin-East VRIFY Deck Here)
Technical information contained in this news release has been reviewed and approved by Michael T. Harp, P.Geo. the Company’s Vice President, Exploration, a qualified person within the meaning thereof under National Instrument 43-101 and responsible for technical matters of this release.
About Ridgeline Minerals Corp.
Ridgeline is a discovery focused gold-silver explorer with a proven management team and a 154 km² exploration portfolio across four 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
President & CEO
Chad Peters, P.Geo.
President & CEO
Ridgeline Minerals Corp.
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