VANCOUVER, BC / June 23, 2020 / Ridgestone Mining Inc. (TSX.V: RMI) (OTCQB: RIGMF) (FRANKFURT: 4U5) (“Ridgestone”) is pleased to announce that further to its May 27th press release, a maiden drill program has been completed on the New Year Zone, one of many prospective targets within its wholly-owned Rebeico Gold-Copper project in Sonora, Mexico. Ridgestone’s 35 sq. km Rebeico Project is located in the Sierra Madre Mineral Belt which hosts numerous significant precious and base metals deposits.
- Maiden drill program at the New Year Zone completed for a total of 1,674 metres of diamond drilling in 11 holes, expanded from a planned 1,500-metre, 10-hole program.
- Nine of the holes drilled were designed to test the sub-surface geometry of gold-copper mineralization identified from 2019 surface sampling of the New Year Zone, with two holes targeting its projected junction with the southern portion of the Alaska vein (see Figure 1).
- Core samples are being submitted to ALS in Hermosillo for analysis and results from the first six holes are expected in the coming weeks.
The maiden drill program commenced on March 16th. However, due to precautionary regulations implemented by the Mexican Government in response to the Covid-19 pandemic, it was not completed until early June. The program initially contemplated 1,500 metres in 10 holes but was expanded to a total of 1,674 metres in 11 holes, as visual evidence of mineralization was observed in drill core.
Samples are being submitted for analysis by ALS and results from the first six holes are expected in the coming weeks.
Figure 1: New Year Zone Phase 1 Drill Collar Location
The New Year Zone diamond-drill core program was completed by Layne de Mexico under the guidance of Steve Weiss (Chief Technical Advisor) and Jonathan George (CEO), with onsite supervision by geologists from Ridgestone’s partner YQ Gold. Drill core 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, and transported to ALS Chemex (“ALS”) preparation laboratory in Hermosillo, Sonora. After preparation, sample pulps will be air-freighted by ALS to their assay laboratory in North Vancouver, British Columbia.
Mr. Steven I. Weiss, PhD, CPG is the independent 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 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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