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Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0), a precious and base metal explorer, is making significant strides in its exploration projects. The company recently concluded the sale of the Robber Gulch oxide gold project to Scout Discoveries Corp. In 2024, Ridgeline plans to spend up to US $5.5 million on exploration, with the focus on its Swift and Black Ridge projects, which are funded by Nevada Gold Mines. The Swift project will see additional framework drilling, while field mapping and sampling programs are underway at the Black Ridge project. Moreover, a 3D Induced Polarization survey is planned at the Big Blue project, and the Selena project is awaiting final permitting for advanced exploration. With a robust exploration portfolio and strategic partnerships, Ridgeline continues to drive its exploration efforts.
Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) has provided an update on the ongoing drill program at the Swift gold project in Nevada, operated under an exploration earn-in agreement with Nevada Gold Mines (NGM). The program, delayed until August due to permitting issues, has completed the first of up to three deep core holes. NGM has revised its 2024 exploration budget to spend up to US $3.0 million on framework drilling at Swift.
Highlights include:
- Drillhole SW24-006 completed to a depth of 918.2 meters, with assays pending
- SW24-007 reverse circulation pre-collar in progress
- NGM has incurred US $7,448,986 in qualifying work expenditures through June 30, 2024
The Swift earn-in terms allow NGM to earn up to a 70% interest in the project by incurring US $30.0 million in qualifying work expenditures by December 31, 2029.
Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) has announced the grant of 2,770,000 stock options to directors, officers, employees, and consultants. These options are exercisable at $0.155 per share for a five-year period. Additionally, the company has granted 1,000,000 deferred share units (DSUs) to directors and 425,000 restricted share units (RSUs) to eligible persons. The DSUs and RSUs are governed by Ridgeline's RSU/DSU Plan and will be subject to applicable securities law hold periods. This move is part of the company's incentive stock option plan, aimed at aligning the interests of key personnel with those of shareholders.
Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) has announced promising results from its induced polarization (IP) survey at the Big Blue porphyry copper-gold project in Nevada. The survey, conducted in August 2024, covered 28 line-kilometers across the Delker and Ohio porphyry targets.
Key findings include:
- A significant chargeability anomaly (20-25 mV/V) at the Delker Porphyry Target, potentially indicating the source of the Delker Mine trend
- A strong chargeability anomaly (15-20 mV/V) at the Ohio Porphyry Target, located near high-grade rock chip samples
- Potential for at least two porphyry targets on the property
The company plans to initiate a maiden drill program targeting both the shallow, high-grade copper skarn and deeper porphyry targets at Delker. The Ohio target may represent a standalone porphyry system or a faulted portion of the Delker porphyry.
Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) has received approval from the TSX Venture Exchange for its Earn-In Agreement with a subsidiary of South32 at the Selena carbonate replacement deposit project in Nevada. The agreement, effective August 21, 2024, allows South32 to earn an initial 60% ownership interest by paying Ridgeline US$100,000 and funding US$10 million in exploration expenditures over five years. South32 can further increase its stake to 80% by spending an additional US$10 million over three years. Ridgeline will remain the project operator during the initial phase. The agreement includes provisions for South32 to arrange a debt facility for Ridgeline's share of mine development costs, subject to TSX Venture Exchange approval.
Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) has reported high-grade surface rock chip results from its Big Blue porphyry Cu-Au project in Nevada. Key findings include:
- Samples of up to 3.9% copper and 16.3 g/t gold, with visible gold noted
- Expansion of the Big Blue land position by 23%, adding 111 lode claims
- Completion of an Induced Polarization geophysics survey
- Identification of a kilometer-scale porphyry Cu-Au footprint between the Delker Mine and Ohio targets
- Potential vector to the porphyry system westward, indicated by increasing gold and molybdenum grades
The company's VP of Exploration, Michael Harp, expressed optimism about the results and the potential for coincident chargeability anomalies at both porphyry targets.
Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) has entered into an earn-in agreement with a subsidiary of South32 for its Selena carbonate replacement deposit (CRD) project in Nevada. South32 can acquire up to 80% interest in the project by funding up to $20 million in exploration expenditures over two phases. The initial phase allows South32 to earn a 60% interest by spending $10 million over five years, with a $2 million guaranteed spend. Ridgeline will remain the operator during this phase. The agreement includes a potential debt facility for Ridgeline to fund its share of future mine development costs. The first year's work program includes a ground magnetotelluric survey and drilling a production water well.
Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) has received approval for its Exploration Plan of Operations (PoO) permit at the Selena CRD project in Nevada. The permit allows for up to 200 acres of surface disturbance, including exploration drill roads and pads. Key highlights include:
- Phase 1 disturbance covers 34.0 acres
- Systematic testing of the mineralized CRD corridor
- High-priority targets: Skarn and Chinchilla Sulfide
- Annual work plan revisions allowed
- Additional disturbance beyond Phase 1 requires further surveys and bonding
The approval is a significant milestone, enabling Ridgeline to plan the next phase of exploration at Selena, focusing on depth and strike towards Freeport-McMoRan's adjacent Butte Valley Porphyry project.
Ridgeline Minerals (TSXV: RDG, OTCQB: RDGMF, FSE: 0GC0) has secured an exclusive water rights permit for its Selena CRD project in Nevada. The permit, granted by the Nevada Division of Water Resources, allows Ridgeline to utilize up to 150 acre-feet of groundwater annually. This development supports future exploration activities under the company's pending Plan of Operations exploration permit. CEO Chad Peters emphasized that the permit will ensure year-round access to drill water and reduce water procurement costs, currently accounting for 5% of the total drill budget. Selena, located in White Pine County, NV, spans 39 square kms and includes the Chinchilla discovery. The project adjoins the Butte Valley project, which has a US $33M earn-in agreement with Freeport-McMoRan. The news has been validated by Michael T. Harp, the company's VP of Exploration.
Ridgeline Minerals announced promising high-grade results from rock chip sampling at its Big Blue project in Nevada. Highlights include up to 9.6 g/t gold and 0.4% copper. The project, situated west of the historically productive Delker Mine, is preparing for an IP geophysics survey in summer 2024 to pinpoint future drill targets. The company holds an active NOI exploration permit for up to 38 drill sites. The new porphyry target revealed significant molybdenum values, hinting at a potential system vector towards the west. Future drill targeting will benefit from the upcoming IP survey.
Ridgeline Minerals has announced a comprehensive 2024 exploration update for its five projects in Nevada. The company anticipates a total exploration spend of up to $5.5 million, with Nevada Gold Mines funding $5 million for the Swift and Black Ridge projects. Swift will see 3-5 core holes drilled, and Black Ridge will undergo field mapping and geochemical surveys.
Ridgeline will conduct a 3D IP survey at its Big Blue project and is finalizing permits for advanced exploration at its Selena project. This year marks Ridgeline's largest exploration budget to date, driven by partner funding. The Selena project is in the final permitting stages, with approval expected in early Q3 2024, allowing significant exploration advancements.
Key highlights include a proposed $5 million budget for Swift, $200,000 for Black Ridge, and the commencement of the Big Blue survey in early Q2 2024. The Selena project will facilitate up to 200 acres of total surface disturbance for exploratory activities.
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