Ridgestone Mining Targets High-Grade Gold with Drilling Underway at Rebeico
Vancouver, March 25, 2020 - Ridgestone Mining Inc. (TSXV: RMI) (OTCQB: RIGMF) ("Ridgestone") has commenced a 10-hole, 1,500-meter Phase 1 diamond drilling program at the newly discovered gold and copper-bearing New Year Zone at its wholly-owned Rebeico Gold- Copper project, in Sonora, Mexico. Ridgestone's 35 sq. km Rebeico Project (Figure 1) is located in the rich Sierra Madre belt with significant current and past-producing gold and silver mines to the north, south, east and west of the property.
Highlights
- First-ever drilling at the New Year Zone will be focused on the potential continuation at depth and sub-surface geometry of high-grade gold-copper mineralization discovered with 2019 surface sampling that returned up to 12.95 g/t gold and 0.65% copper (Figure 2).
- Drilling will also test the southern portion of the nearby Alaska vein, south of hole 18REB10 which in 2018 returned 36.10 g/t Au over 1.5 meters at 103.64 to 105.14 meters (Photo 1).
- Specifically, the potential subsurface junction of the New Year Zone with the southern part of Alaska vein will be targeted.
Dr. Steven Weiss, chief technical adviser for the Rebeico Project, commented, "We're very optimistic about this maiden drill program at the New Year Zone, especially considering the robust gold values obtained over a substantial area at surface."
Dr. Weiss added, "The encouraging high-grade gold results from the 2018 drilling of the nearby Alaska vein indicate the presence of an aerially extensive mineral system and an intriguing target is the possible subsurface intersection of the New Year Zone with the Alaska vein."
Jonathan George, Ridgestone CEO, commented, "In light of the global COVID-19 pandemic, new operational procedures were implemented to protect the health of our workforce and their communities. The drill program has been progressing smoothly without disruption."
Phase 1 drilling is being conducted by Layne de Mexico with conventional wire-line diamond-core methods under the guidance of Steve Weiss (Chief Technical Advisor) and Jonathan George (CEO), with onsite supervision by geologists from Ridgestone's partner YQ Gold. Drill core is transported daily from the drill sites to YQ Gold's secure logging and storage facility.
Figure 1: Rebeico Property Map: symbols show historical mine and prospect workings.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5790/53797_8ca69d7ad4a8b95e_001full.jpg
Figure 2: New Year Zone Phase 1 Drilling Area
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5790/53797_8ca69d7ad4a8b95e_002full.jpg
Photo 1. Drill core from 2018 hole 18REB10 with 36.1 g Au/t and 1.22% Cu in gouge and brecciated andesite at 103.64 to 105.14 meters.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/5790/53797_8ca69d7ad4a8b95e_003full.jpg
About Ridgestone Mining Inc.
Ridgestone is a Canadian mineral exploration company focused on its wholly-owned, high-grade Rebeico gold-copper project located in Sonora, Mexico.
For further information, please contact:
MarketSmart Communications Inc.
Telephone: 877-261-4466
info@marketsmart.ca
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53797
