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),
- 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
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