Ridgeline Minerals Reports Remaining Assays from the Q4 2022 Drill Program at the Selena Project, Nevada

·6 min read

Including: 1.5 meters grading 581 g/t silver and 2.0% tungsten

Vancouver, British Columbia--(Newsfile Corp. - March 6, 2023) - Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) ("Ridgeline" or the "Company") is pleased to provide a summary of all assay results for the remaining six (6) unreported drill holes from the 2022 fall drill program at the Selena Project ("Selena" or "Project"), located in White Pine County, Nevada.

Highlight results from the Chinchilla Target include SE22-039A which returned 1.5 meters ("m") grading 581.0 grams per tonne ("g/t") silver ("Ag"), 0.2% zinc ("Zn"), and 2.0% Tungsten ("W") starting at 244 m downhole (Figure 1). Hole SE22-039A was an 11.7 m long wedge that was attempted off the original parent drill hole SE22-039, which was also lost in a fault zone in high-grade Ag-W mineralization at 279 m downhole (see January 24, 2023 press release HERE). The two intercepts now confirm over 30 m of vertical continuity within a structurally controlled zone of high-grade silver-tungsten mineralization hosted within Quartz-Feldspar Porphyry ("QFP") dikes. Mineralization hosted within QFP dikes is atypical of the Ag-Au-Pb-Zn Carbonate Replacement ("CRD") mineralization discovered at Selena to-date and may indicate a primary "feeder" fault has been intersected at the Chinchilla zone. Additional follow-up drilling is required in 2023 to confirm this theory.

The remaining five (5) core holes included a four-hole (4) maiden drill program at the Broken Egg oxide gold ("Au") target and a single (1) "scout" hole at the Juniper CRD target to test the down-dip extension of historical high-grade drill intercepts. Broken Egg returned a highlight intercept of 4.4 meters ("m") grading 0.68 grams per tonne ("g/t") gold ("Au") including 0.5m grading 2.66 g/t Au starting at 0.6m downhole in drill hole SE22-044 (Figure 1). A detailed summary of assay results is below.

Michael Harp, Ridgeline's Vice President, Exploration commented, "Over the past two years our systematic approach to exploration at Selena has yielded multiple grassroots discoveries that exhibit the potential for significant scale and grade. Our fall program at the Chinchilla zone returned the highest CRD grades ever drilled on the property and the addition of bonanza grade silver and tungsten intercepts in holes 39 and 39A adds a new high-grade target to be followed-up on this spring."

Mr. Harp continues, "The scout drill programs at Broken Egg and Juniper were part of our greater exploration strategy of assessing the potential of all priority exploration targets at Selena prior to commencing infill and definition drilling at the Chinchilla zone. Both targets intersected encouraging alteration and mineralization, with Broken Egg representing the distal expression of over 8 kilometers of alteration and mineralization that is zoning outwards from the Butte Valley Porphyry. Core drilling this year will focus on infilling the high-grade Chinchilla zone as well as step-out drilling towards the CRD target, where drilling to-date has defined over three kilometers of mineralized strike that is open in all directions. We eagerly anticipate the pending approval of an expanded exploration Plan of Operations permit this spring, which will allow us to aggressively explore this highly prospective mineralized corridor."

Chinchilla - CRD Target

  • SE22-039A: 1.5 meters ("m") grading 581.00 g/t Ag, 0.19% Zn and 1.95% W starting 244 m downhole (Figure 2)

    • Poor core recoveries and void space noted throughout the hole prior to losing the wedge

For a complete table of all Chinchilla Zone assay results click HERE

Broken Egg - Oxide Au Target

  • SE22-044: 4.4 m grading 0.68 g/t of oxide Au starting at 0.6 m below surface (Figure 1)

  • Drill holes SE22-041 to SE22-043 tested multiple outcropping Au targets across three kilometers of strike and intersected extensive alteration structure and anomalous gold grades up to 0.40 g/t Au, including:

    • SE22-042: 1.9 m grading 0.19 g/t oxide Au starting at 83.7 m downhole

Juniper - CRD Target

  • SE22-040: 6.5 m grading 0.27 g/t Au starting at 43.6 m downhole (Figure 3)

    • And: 0.7 m grading 34.44 g/t Ag, 0.25% lead ("Pb"), 0.10% zinc ("Zn") and 0.47 g/t Au starting at 178.4 m downhole (Figure 3)

    • CRD mineralization in SE22-040 is hosted within a fault-controlled breccia zone on the footwall side of the Aurym fault (interpreted as a primary feeder fault to the Juniper target). Future drilling would focus on the hangingwall side of the Aurym fault (Figure 3)

Early-Stage Exploration - Revival CRD Target

  • Drilling at Revival was conducted in Q4, 2022 by Ridgeline geologists using the Company's backpack drill rig, which can drill core to depths of 15-20 m vertical depth (Figure 1)

  • Highlight intercept in SEBP-005 returned 2.7m grading 34.57 g/t Ag, 0.17% Pb, 1.18% Zn and 1.00 g/t Au starting at surface

  • Additional permitting is required at Revival in 2023 prior to initiating a maiden drill campaign



Figure 1: Deposit zonation map showing drill results from today's press release as well as highlight intercepts by target

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/157310_874f47c034f02b4d_002full.jpg



Figure 2: Chinchilla X-Section C-C' showing the CRD (purple) and Ag-W (green) zones drilled in Q4, 2022

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/157310_874f47c034f02b4d_003full.jpg



Figure 3: Juniper X-Section E-E' showing Juniper drillholes with CRD targets projected along the Aurym fault. Shortwave UV photos of LB-072 high-grade (orange to red) vs SE22-040 low-grade (purple to white) confirms SE22-040 intersected "distal" CRD mineralization beneath the Aurym fault

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/157310_874f47c034f02b4d_004full.jpg

For a detailed description of how UV Fluorescence is being utilized by the Ridgeline team Click HERE

Selena Project
Selena is located in White Pine County, Nevada, approximately 64 kilometers ("km") north of the town of Ely, NV. The project shares a property boundary with the Butte Valley project, a US $33M earn-in agreement between Freeport-McMoRan and Falcon Butte Minerals. The 100% owned project is comprised of 39 square kms of highly prospective exploration ground including Ridgeline's shallow-oxide Ag-Au-Pb-Zn Chinchilla discovery. Subsequent drilling has continued to highlight the potential for high-grade CRD type mineralization between Chinchilla and the Butte Valley Cu-Au-Ag porphyry located directly west of the property. (View the Selena VRIFY Deck Here)

QAQC Procedures
Samples are submitted to American Assay Laboratories (AAL) of Sparks, Nevada, which is a certified and accredited laboratory, independent of the Company. Samples are prepared using industry-standard prep methods and analysed using FA-PB30-ICP (Au; 30 g fire assay) and ICP-5AM48 (48 element Suite; 0.5 g 5-acid digestion/ICP-MS) methods. AAL also undertakes its own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. Ridgeline's QA/QC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results completed by the Company's Qualified Person, Michael T. Harp, Vice President, Exploration.

Technical information contained in this news release has been reviewed and approved by Michael T. Harp, CPG. the Company's Vice President, Exploration, who is Ridgeline's Qualified Person under National Instrument 43-101 and responsible for technical matters of this release.

About Ridgeline Minerals Corp.
Ridgeline is a discovery focused precious and base metal explorer with a proven management team and board of directors credited with numerous gold discoveries in North America. The Company controls a 192 kmĀ² exploration portfolio across six projects in Nevada and Idaho, USA. More information about Ridgeline can be found at www.RidgelineMinerals.com.

On behalf of the Board
"Chad Peters"
President & CEO

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.

Cautionary Note Regarding Forward-Looking Statements
Statements contained in this press release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, the anticipated benefits of the Earn-In Agreement and the transaction contemplated thereby. The words "potential", "anticipate", "meaningful", "discovery", "forecast", "believe", "estimate", "expect", "may", "will", "project", "plan", "historical", "historic" and similar expressions are intended to be among the statements that identify Forward-Looking Information. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed or implied by the Forward-Looking Information. In preparing the Forward-Looking Information in this news release, Ridgeline has applied several material assumptions, including, but not limited to, assumptions that TSX Venture Exchange approval will be granted in a timely manner subject only to standard conditions; the current objectives concerning the Project can be achieved and that its other corporate activities will proceed as expected; that general business and economic conditions will not change in a materially adverse manner; and that all requisite information will be available in a timely manner. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Ridgeline to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, risks related to dependence on key personnel; risks related to unforeseen delays; risks related to historical data that has not been verified by the Company; as well as those factors discussed in Ridgeline's public disclosure record. Although Ridgeline has attempted to identify important factors that could affect Ridgeline and may cause actual actions, events, or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Ridgeline does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/157310