Vancouver, British Columbia--(Newsfile Corp. - April 7, 2021) - Ridgestone Mining Inc. (TSXV: RMI) (OTCQB: RIGMF) (FSE: 4U5) ("Ridgestone") is pleased to announce encouraging results from geophysical surveys and follow-up exploration on its wholly-owned Rebeico project in Sonora, Mexico.
Highlights
Induced polarization (IP) and resistivity surveys totaling 31.4 line-kilometres (~6.0 sq. km) were previously completed by Zonge International of Tucson, Arizona.
A strong IP high (chargeability anomaly) with an extent of 1,400 metres north-south and 800 metres east-west was identified south of the Alaska vein. This anomaly is most pronounced beneath the Company's Elena concession where surface sampling has returned up to 3.77% copper and 0.741 ppm gold.
High-grade copper ± gold is pervasive throughout the property with 1.56% copper plus 1.80 g/t gold intersected over 19.3 metres from surface at the New Year Zone and 2.78% copper plus 8.69 g/t gold over 2.0 metres from the Alaska Vein.
Jonathan George, Ridgestone's CEO and Director, commented, "The IP and resistivity survey has outlined a strong anomaly which is very pronounced at the Elena concession. Given the significant copper intersected from drilling on the New Year Zone and Alaska Vein, in addition to the high-grade surface samples from the Elena concession, we are highly encouraged about the potential for a significant copper system at Rebeico."
The Induced Polarization (IP) and Resistivity surveys were carried out by Zonge International ("Zonge") of Tucson, Arizona and consisted of 15 east-west lines spaced 200 metres apart, comprising coverage of 31.4-line kilometers of dipole-dipole measurements over an area of approximately 6.0 square kilometers.
The survey originated over the key Alaska vein, and provided coverage south through the New Year Zone and Elena concession. A summary report of the data provided by Zonge included 15 sets of IP and resistivity cross sections and horizontal slices at various elevations.
The Zonge report identified a pronounced high-chargeability feature which was encountered to the south and east of the Alaska vein at depths of 250 to 300 metres below surface, progressively increasing in width and intensity toward the south. This high-chargeability anomaly was identified over a total extent of 1,400 metres north-south and 800 metres east-west. The upper portion of the anomaly becomes progressively closer to the surface toward the south and is strongest beneath the Company's Elena concession (Figure 1). Samples from copper mineralized outcrops at the Elena concession such as those in Figure 2 have assayed up to 3.77% Cu over 1.5 metres and 3.42% Cu over 1.5 metres; other samples assayed up to 0.741 ppm gold.
Figure 1: Chargeability Inversion Model Slice at 300 m Elevation, Elena Concession
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5790/79613_8b12fce7b4d28ae4_001full.jpg
Figure 2: Visible Copper Mineralization in Outcrops at the Elena Concession
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5790/79613_rs1.jpg
Note: Outlined area contains visible secondary copper minerals.
Figure 3: Rebeico Claims Outlining Targets
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/5790/79613_8b12fce7b4d28ae4_004full.jpg
To view Figures 1 through 3, please visit the Company's website at: https://ridgestonemining.com/news-releases/2021/
Qualified Person:
Mr. Noris Del Bel Belluz, P.Geo and VP Exploration, is the qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical information in this news release.
About Ridgestone Mining Inc.
Ridgestone is a Canadian mineral exploration company focused on its high-grade Guadeloupe y Calvo (Gold/Silver) and Rebeico (Gold/Copper) projects located in Mexico.
For further information, please contact:
Rad Rajaram - Manager Corporate Relations and Business Development
Telephone: 416-732-0604
radha@ridgestonemining.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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