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Vancouver, British Columbia--(Newsfile Corp. - November 18, 2021) - Ridgestone Mining Inc. (TSXV: RMI) (OTCQB: RIGMF) (FSE: 4U5) ("Ridgestone" or the "Company") is pleased to announce it has received all of the requisite permits for a maiden drill program on the El Cobre copper target at it's wholly-owned Rebeico copper-gold project in Sonora, Mexico.
The permit was issued by the Secretaría de Medio Ambiente y Recursos Naturales or SEMARNAT, the Mexican regulatory body, which allows for the Company to undertake its maiden drill program. The program will be comprised of 14 reverse circulation (RC) drill holes for a total of approximately 2,700 metres and will be conducted along the main El Cobre structure, where recent grab and rock-chip sampling of the surface stockpile of mined material from the El Cobre structure returned up to 3.5% copper, 53 g/t silver and 0.52 % Mo over widths of up to 5.0 metres. Historical records of past mining by Asarco in the 1960's show that high-grade copper was extracted from two levels to a depth of 180 metres, and that the structure remains open along strike and to depth.
The Company is working with its local drilling contractor to finalize schedules for an upcoming program. In addition, it has engaged with ancillary service providers to prepare the drill sites ahead of the anticipated program.
In addition, the Company is pleased to announce that the Company has engaged Think Ink Marketing Data & Email Services, Inc. ("Think Ink") to provide public relations services in an effort to increase public awareness of the Company and its products, services and securities. The agreement is for six months at a budget of $200,000. Think Ink leverages leading-edge technologies to steer traffic to clients' web properties, drive inquiries, and collect metrics regarding engagement with content. Services provided by Think Ink include SEM (search engine marketing), search retargeting, email campaigns, and social media optimization (e.g., using tactics such as geofencing). With the exception of the agreement to provide the foregoing services, the Company does not have any relationship with Think Ink. Think Ink does not hold, directly or indirectly, and securities of the Company or a right to acquire such securities.
Noris Del Bel Belluz, P. Geo., Vice-President of Exploration, is a "qualified person" as defined under NI 43-101 and has reviewed and approved the content of this news release.
About Ridgestone Mining Inc.
Ridgestone Mining has assembled a highly-experienced and dynamic team to explore and advance its projects in Mexico. The Guadalupe y Calvo gold-silver project, for which Ridgestone can earn a 100% interest, is host to an Indicated Resource of 356,000 gold-equivalent ounces plus an Inferred Resource of 460,000 gold-equivalent ounces. Ridgestone's 100%-owned Rebeico copper-gold project has high-grade copper and gold pervasive throughout the property with highlights including 1.56% copper plus 1.80 g/t gold intersected over 19.3 metres from surface at the New Year Zone and 2.78% copper plus 8.69 g/t gold over 2.0 metres from the Alaska Vein.
For further information, please contact:
Rad Rajaram - Manager Corporate Relations and Business Development
This news release contains forward-looking statements or information (collectively referred to herein as "forward-looking statements"). Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. In this news release such statements include but are not limited to any ongoing drilling programs, timing of such programs, or exploration results. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including those described in the Company's regulatory filings available on www.sedar.com. Should one or more of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive. Unpredictable or unknown factors not discussed could also have material adverse effects on forward-looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent on other factors, and the Company's course of action would depend on its assessment of the future considering all information then available. All forward-looking statements in this news release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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