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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 (TSXV: RDG) (OTCQB: RDGMF) has announced promising results from a Magnetotellurics (MT) Geophysical survey at its Selena Carbonate Replacement (CRD) project in Nevada. The survey identified a strong, kilometer-scale conductive anomaly at the Chinchilla Sulfide target, suggesting potential for a robust silver-gold-lead-zinc CRD system at depth.
Key highlights include:
- A large conductive anomaly approximately 1.5km wide by 600m thick, extending over 2.0km along strike
- Previous drilling in 2022 intersected high-grade mineralization including 3.0m grading 40.2 g/t Ag, 7.0% Pb-Zn and 3.0 g/t Au
- The MT anomaly's geometry is controlled by east verging thrust faults, northeast striking normal faults, and their intersection with reactive carbonate host rocks
The project is currently operated by Ridgeline under Phase 1 of an earn-in agreement with South32 Based on these promising results, Ridgeline is accelerating plans for a 2025 Phase I drill campaign to target the highest priority anomalies at depth.
Ridgeline Minerals (TSXV: RDG) (OTCQB: RDGMF) has announced results from its Phase II induced polarization (IP) geophysical survey at the Big Blue copper-gold project in Elko County, Nevada. The December 2024 survey added eight line-kilometers across three high-priority IP lines in the Delker Mine area, complementing the original twenty-eight line-km survey from August 2024.
The survey revealed a significant 2.0 km long by 1.0 km wide chargeability high beneath the Delker trend, interpreted as a potential blind porphyry source. The area includes the historical Skarn Hill and Delker mines, which produced 94,434 pounds of copper at 6.2% grade in 1916-1917.
A maiden drill program of 2,000 meters is scheduled to begin March 3, 2025. The program will target two primary areas: the down-dip extension of high-grade copper-bearing skarn mineralization at the Delker Mine area, and the core of the Delker chargeability anomaly to test for a blind porphyry copper-gold source.
Ridgeline Minerals has announced the staking of the Atlas Gold Project in Eureka County, Nevada, acquiring 59 lode claims totaling 1,219 acres. The project is 100% owned by the company with no underlying obligations.
The property features a 3km long by 0.5km wide gold footprint, supported by 346 historical rock chip samples with grades up to 7.7 g/t Au. Atlas shows classic Carlin-Type gold mineralization in the same host rocks as Orla Mining's Dark Star Deposit. The project has never been drilled and presents an opportunity for a bulk tonnage, oxide gold discovery.
The company's 2025 exploration strategy includes 3D modeling and permitting in Q1, followed by a maiden drill program of 3-5 holes in Q2. A Notice of Intent exploration permit will be submitted in late Q1 for up to five acres of surface disturbance.
Ridgeline Minerals (TSXV: RDG) (OTCQB: RDGMF) provided updates on its Nevada exploration portfolio. The company projects a US $5.0 million exploration spend for 2024, with US $4.0 million funded by partners Nevada Gold Mines (NGM) and South32. Key highlights include:
- Swift Project: Achieved highest-grade intercept (1.1m grading 10.4 g/t Au) with NGM having spent US $8.18M through September 2024
- Big Blue Project: Phase II infill IP survey initiated, targeting Q1 2025 maiden drill program
- Black Ridge Project: NGM proposed US $200,000 2024 exploration budget
- Selena Project: Completed MT survey with South32, who must spend US $10M over five years for 60% interest
Ridgeline Minerals (TSXV: RDG) has provided an update on its ongoing Magnetotellurics (MT) Geophysical survey at the Selena Carbonate Replacement project in Nevada. The survey, operated under a Phase 1 exploration agreement with South32, covers high-priority CRD targets to test for sulfide mineralization at depth. The survey includes 211 stations on a 200m by 400m grid pattern and is approximately 80% complete, on budget and schedule.
The project is part of an earn-in agreement where South32 can acquire a 60% interest by funding US$10 million in work expenditures over five years, with an option to increase to 80% by funding an additional US$10 million over three years. The MT survey is preparing for a 2025 drill program that will target depths exceeding 1,000 vertical meters.
Ridgeline Minerals and Nevada Gold Mines (NGM) announced high-grade gold drill results from the Swift project in Nevada. Core hole SW24-006 intercepted 1.1 meters grading 10.4 g/t Au within 2.7 meters grading 7.0 g/t Au at 676.3m depth. This represents the highest-grade intercept in the project's history, hosted within the Roberts Mountains Formation. NGM has spent US $8.18M in work expenditures through September 2024 and must spend US $20M by December 2026 to earn a 60% interest in the project.
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.
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