2020 News

 

VANCOUVER, BC / September 21, 2020 / Ridgestone Mining Inc. (“Ridgestone” or the “Company”) (TSX.V:RMI) (OTCQB: RIGMF) (FRA:4U5) ("Ridgestone") is pleased to report positive drill results from an additional 8 holes totalling 1,238 metres (m) on its wholly-owned Rebeico Gold-Copper project in Sonora, Mexico.  A total of 11 holes for 1,674m were drilled in 2020 testing the subsurface extent of significant gold and copper mineralization previously sampled on surface at the New Year Zone and southern part of the 1.2km Alaska Vein (Figure 1); results from the remaining eight holes are presented herein (Table 1 and Figure 2),

Significant Highlights:

  • 0.54% Copper over 29.15m in Drill Hole 20REB018D from 0m (surface),
    • Including 1.95% Copper over 2.25m from 10.95m
  • 2.62 g Au/tonne and 0.54% Copper over 0.65m  in Drill Hole 20REB022D from 64.25m; and
  • 3.82 g Au/tonne and 0.75% Copper over 4.35m in Drill Hole 20REB023D from 70.1m,
    • Including 8.61 g Au/tonne and 0.50% Copper over 1.55m from 72.9m.

Mr. Jonathan George, CEO, commented “We are very pleased and excited with these positive drill results which suggest a potentially large intrusion-related mineralized system, emplaced in multiple phases as evidenced by the variability in gold and copper content from hole to hole. These drill holes tested to a vertical depth of approximately 170m and deeper holes beneath the New Year zone, particularly along the Eastern edge, are being planned with the aim to extend the zone and vein to depth.

On the regional front, our near-surface drilling continues to extend the lateral footprint of mineralization. These latest results definitely warrant follow up and we will commence a strategic targeting exercise for follow-up drilling.”

One of the most significant intervals was in vertical hole 20REB018D with 0.54% copper over an interval of 29.15m from surface (Table 1). Hole 20REB018D was collared approximately 50m South of hole 20REB013D which returned 2.13 g Au/tonne and 1.79% copper over an interval of 16.25m from 3.05m (News Release dated July 15, 2020).

Hole 20REB023D, collared approximately 170m Northeast of Hole 20REB013D, was drilled at an angle of -55 degrees and intersected the Alaska Vein returning 3.82 g Au/tonne and 0.75% copper over 4.35m from 70.1m, including 8.61 g Au/tonne and 0.50% copper over 1.55m (Table 1).

The true widths of the mineralized intervals reported above are not known. All holes except 20REB023D intersected extensively hornfelsed and hydrothermally altered andesite and andesite breccia cut by intermittent zones of narrow veins and veinlets containing variable mixtures of pyrite, chalcopyrite, magnetite, chlorite, calcite and quartz, as well as intervals with visible amounts of disseminated chalcopyrite ± magnetite.

Table 1: Summary of 2020 Mineralized Drill Intercepts of Interest

The true widths of the mineralized intervals reported above are not known.

 

 

Figure 1: Plan View of the New Year Zone and Alaska Vein with Drill Traces

Figure 2: Mineralized Drill Intercepts of Interest

Drilling and Analytical Protocol

The New Year Zone diamond-core drilling was completed by Layne de Mexico (drilling contractor) under the guidance of Dr. Steve Weiss (Chief Technical Advisor) and Mr. Jonathan George (CEO), with onsite supervision by geologists from Ridgestone’s partner YQ Gold. Drill core of HQ size was recovered by conventional wireline methods and was transported daily from the drill sites to a secure logging and sample storage area.

After logging by geologists, intervals selected for sampling were sawed in half lengthwise. The ½-core samples were placed in pre-numbered sample bags and weighed. Blanks and certified reference material samples were inserted into the sample stream for Quality Assurance / Quality Control ("QA/QC") purposes. 

The samples were transported by YQ Gold personnel to the ALS Chemex ("ALS") preparation laboratory in Hermosillo, Sonora.  At ALS the samples were crushed in their entirety to 70% less than 2 mm, then riffle split to obtain a 250-gram sub-sample that was pulverized to > 85% passing 75 microns.  After preparation, the sample pulps were air-freighted by ALS to their assay laboratory in North Vancouver, British Columbia. 

All samples were analyzed for gold by 30-gram fire assay with an atomic absorption (“AA”) finish (ALS method code AuAA23).  The samples were also analyzed for multiple minor and trace elements by inductively-coupled plasma-emission mass-spectrometry (“ICP-MS”) following a 4-acid digestion (ALS method code ME-MS61).

Qualified Person (QP) and NI 43-101 Disclosure

The technical information in this news release has been reviewed and approved by Dr. Steven I. Weiss, PhD, CPG, a qualified person as defined by National Instrument 43-101.  Dr. Weiss is independent of Ridgestone Mining and YQ Gold, and all their respective subsidiaries.

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:

Ms. Radha Rajaram – Manager, Corporate Relations and Business Development

Telephone: 416-732-0604

radha@ridegestonemining.com

 

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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