2019 News

VANCOUVER, BC / September 25, 2019 / Ridgestone Mining Inc.  (TSX.V: RMI) (OTCQB: RIGMF) ("Ridgestone Mining") wishes to report results of historical rock chip samples obtained by the Servicio Geológico Mexicano (“SGM”) from artisanal workings located within the company’s newly acquired “Alaska” group of mining claims.  These claims are located immediately west and northeast of the Rebeico Gold –Copper project, Sonora, Mexico.

Highlights

  • Increases Rebeico land position to 3,459 hectares
  • Six artisanal workings on new claims documented by SGM report highlighting high-grade gold and copper mineralization
  • Past-producing El Cobre mine, operated by Asarco in 1960’s, with extensive development on three levels spanning 180 metres long by 130 metres deep

The recently acquired claims (c.f. June 25th, 2019 press release) are comprised of 10 concessions covering an area of 3,292 hectares located immediately west and northeast of the Rebeico claims (c.f. Figure 1).  Six artisanal workings have been documented by a Mexican Government report, SGM, with high-grade gold and copper mineralization identified from on-vein and waste dump sampling.

Jonathan George of YQ Gold, Ridgestone’s exploration partner in Mexico, commented “These claims not only significantly bolster our land position at Rebeico but also provide a number of high-priority targets that warrant further investigation and exploration. The grades highlighted by the historical assays are highly encouraging and will be the focus of the upcoming exploration program this fall.”

 

El Cobre

The El Cobre mine was operated by Asarco during the 1960’s. Underground development was undertaken on three levels each approximately 180 metres in length to a depth of 130 metres. Analytical results obtained by the SGM from sampling the vein included 1.67% copper plus 0.8 g/t gold over 1.18 metres.

Table 1: El Cobre Assay Highlights

Sample Type

Width (m)

Au (g/t)

Ag (g/t)

Cu (%)

Mo (%)

Vein

1.18

0.799

39

1.67%

0.12%

Vein

1.12

0.666

50

0.51%

0.18%

Dump

-

0.499

102

2.41%

0.30%

Dump

-

0.350

38

2.07%

1.22%

 

Tres Hermanos

Shafts up to 20 metres deep were developed on several tabular mineralized structures to exploit gold and silver bearing veins. The “main” vein is approximately 200 metres in known length, with an average width of 1.3 metres. Highlights included rock chip samples 1.3 metres grading 14.6 g/t gold.

Table 2: Tres Hermanos Assay Highlights

Sample Type

Width (m)

Au (g/t)

Ag (g/t)

Cu (%)

Vein

-

0.166

19

0.16%

Vein

1.00

1.366

137

2.72%

Vein

1.20

8.132

17

0.07%

Vein

1.30

14.598

23

0.06%

Vein

1.90

3.399

23

0.14%

Vein

2.00

0.566

26

1.21%

HW

0.50

2.599

20

0.36%

FW

0.80

0.633

8

0.36%

FW

1.00

0.399

8

1.00%

HW = hanging wall; FW = footwall

La Amargosa I & II

The Amargosa I & II workings are classified as mesothermal in origin with abundant copper and iron oxides in quartz veins contained within highly altered andesite. Highlights included 0.7 metres grading 10.0 g/t gold from sampling of vein material at La Amargosa II.

Table 3: La Amargosa I & II Assay Highlights

Showing

Sample Type

Width (m)

Au (g/t)

Ag (g/t)

Cu (%)

 

La Amargosa

Dump

-

0.733

2

0.73%

 

La Amargosa

Dump

-

1.830

2

1.85%

 

La Amargosa II

Vein

0.70

9.990

4

3.48%

 

La Amargosa II

Vein

0.68

5.860

4

1.85%

 

La Amargosa II

Vein

0.71

2.660

7

0.55%

 

La Amargosa II

HW

0.80

0.020

1

2.40%

 

La Amargosa II

FW

0.60

1.490

4

3.10%

 

 

HW = hanging wall; FW = footwall

La Amargosita

At the Amargosita workings, surface outcrops contain abundant copper and iron mineralization, considered as mesothermal in origin. Two shafts (one collapsed) were developed to access underground drifts. Highlights included sampling of waste dumps which returned 1.56% copper.

Table 4: La Amargosita Assay Highlights

Sample Type

Width (m)

Au (g/t)

Ag (g/t)

Cu (%)

Vein

1.50

0.110

26

0.15%

Vein

1.30

0.166

73

0.45%

Dump

-

0.097

777

1.56%

 

Campo Seco

Classified by the SGM as epithermal in nature, a quartz vein emplaced within altered andesite was developed in the workings on Campo Seco including an inclined shaft approximately 18 metres long.  Highlights included 0.55 metres grading 7.49% copper with 18g Ag/t.

Table 5: Campo Seco Assay Highlights

Sample Type

Width (m)

Au (g/t)

Ag (g/t)

Cu (%)

HW

0.90

0.066

10

0.36%

HW

0.80

0.066

13

0.48%

Vein

0.55

0.099

18

7.49%

HW = hanging wall; FW = footwall

 

 

Figure 1:  Property Claim Map Highlighting Artisanal Workings

 

QA / QC Disclosure

Rock chip sampling and preliminary geological investigations were undertaken on six old workings located in the Alaska concessions, and observations and results were published in a 2005 SGM technical report on the Rebeico H12D54 1:50,000 geologic and mining quadrangle by Morales and Gastelum (2005).   The samples were prepared and analyzed in the laboratories of the SGM with methods and procedures considered appropriate for their investigation.  Ridgestone Mining is not aware of the quality assurance / quality control (“QA/QC”) procedures used by the SGM, or the results of any QA/QC samples that may have been analyzed.

The technical information disclosed in this news release has been reviewed and approved by Steven I.  Weiss, C.P.G., Ph.D., with Mine Development Associates (“MDA”) of Reno, Nevada, USA.  Mr. Weiss is a Qualified Person under NI 43-101 and the author of the technical report prepared by MDA and filed on SEDAR titled “NI 43-101 Technical Report on the Rebeico Gold-Copper Project; Central Sonora, Mexico”.

 

About Ridgestone Mining Inc.

Ridgestone is a TSX Venture Exchange-listed junior mineral exploration company with offices in Vancouver, B.C. and Taipei. The Company's focus is on precious metals and copper in Sonora, Mexico, and specifically the Rebeico Gold-Copper project. 

 

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 or exploration results, or any results from the MarketSmart program.  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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