VANCOUVER, BC / April 7, 2020 / Ridgestone Mining Inc. (TSX.V: RMI) (OTCQB: RIGMF) ("Ridgestone") announces that it has completed the first three holes of the ongoing 10-hole 1,500 metre diamond-core drilling program at its Rebeico Gold –Copper Project, Sonora, Mexico. This drilling is focused on the promising New Year Zone, where high-grade gold and copper mineralization has been sampled on surface.
- First three diamond core holes in the New Year Zone (Figure 1) completed for a total of 435.7 metres with visible sulfide mineralization observed in all three holes.
- Drill hole 20REB014D was drilled vertically and initially planned for a depth of 100 metres but was extended to 170 metres due to the continued presence of visible sulfide mineralization (Photo 1).
- Drill hole 20REB015D was collared at the same site as 20REB014D and drilled due west at an inclination of -55 degrees. The hole was initially planned for a depth of 150 metres but was extended to 167 metres due to the continued presence of visible sulfide mineralization.
- Drill hole 20REB013D was drilled vertically and reached a total depth of 98 meters with sulfide mineralization observed in the core.
- Drill core will be logged and sampled at the Company’s secure storage facility in Mazatán, Sonora and sent for assaying. Results will be released when available.
Dr. Steven Weiss, chief technical adviser for the Rebeico Project, commented “We’re very optimistic about the initial results from drilling given significant sulfide mineralization observed in the core from the first three holes.”
The Company is evaluating the requirements of the Executive Order issued by the Mexican Government calling for the cessation of all non-essential enterprises in an attempt to mitigate the spread of novel coronavirus “COVID-19”, and is closely monitoring the health and safety of its employees and contractors. To date, there are no known or suspected cases of COVID-19 infection at any of the Company's operations, projects or corporate offices.
Figure 1. Location of Completed Drill Holes, New Year Zone
UTM WGS84 Projection; 100-metre grid lines for scale; hachured lines are roads; inverted triangles are historical samples, same ranges
Photo 1. Drill Core Showing Sulfide Mineralization in hole 20REB014 from 146.05m
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.
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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.
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