12:33:09 EDT Sun 22 Sep 2019
Enter Symbol
or Name

Ridgestone Mining Inc
Symbol C : RMI
Shares Issued 32,198,161
Close 2019-04-03 C$ 0.22
Recent Sedar Documents

Ridgestone plans sampling, drilling program at Rebeico

2019-04-30 09:43 ET - News Release

Mr. Erwin Wong reports


Ridgestone Mining Inc. has provided a review of results from exploration on its Rebeico gold-copper project, Sonora, Mexico.

After optioning the project in April, 2018, the company commissioned Steven Weiss, doctor of philosophy, CPG, of Mine Development Associates (MDA), Reno, Nev., to prepare a National Instrument 43-101 technical report on the project, which was completed on April 25, 2018.

The report makes reference to two styles of mineralization recognized on the Rebeico property, both containing copper, gold and silver: the over-one-kilometre-long north-south-trending Alaska vein and the intensely altered breccia zones southwest of the vein.

Both styles of mineralization contain similar minor elements, such as bismuth, suggesting that they are related to each other and may be close to a possible copper-gold porphyry at depth.

To further investigate this possibility, the author recommended a phase 1 exploration program comprising an induced potential and resistivity survey, mapping and rock-chip geochemical sampling, and diamond drilling.

An induced polarization (IP) geophysical survey, comprising 18 line kilometres, was carried out in 2018 by Zonge International of Tucson, Ariz. The IP survey comprised nine east-west lines at 200-metre spacing by two kilometres in length.

In a preliminary interpretation of data obtained from the survey, Zonge observed a high-chargeability anomaly which begins to be evident below where the mineralized breccia zone is observed on surface. Here, the anomaly appears at a depth of between 200 metres to 300 metres and progressively increases in size and intensity toward the last survey line, 600 metres to the south, remaining open.

Zonge also noted that the top of the zone of high chargeability appeared to decrease in depth going south and could reach surface near the company's Elena mining concession. Subsequent field investigations in the Elena concession encountered several mineralized outcrops, some of which were sampled. The rock chip samples were submitted for analysis and the assay results are reported in an attached table.

Sample                 Width            Cu            Au            Ag
                          (m)           (%)         (g/t)         (g/t)

E1                       1.0         0.985         0.023           6.6
E2                       1.2         0.016         0.010          <0.5
E3                       1.0         0.310         0.070           7.4
E4                      0.60         0.043         0.271           2.2
E5                       1.0         1.915         0.098          19.8
E6                       2.0         1.315         0.134          21.7
E7                       1.5         0.052         0.258           0.6
E8                      0.50          2.13         0.448          31.3
E9                       1.5          3.77         0.012           3.2
E10                      1.5          3.42         0.011           3.7
E11                      1.0         0.029         0.020          <0.5

These high copper values and the underlying large and intense chargeability anomaly provide further evidence that a substantial mineralized system may be present on the property. An extensive exploration program is required to further evaluate this exciting possibility.

Ridgestone also completed a 12-hole, 1,430-metre diamond drill program in December, 2018, as summarized in the company's news releases of Dec. 13, 2018, and Jan. 17, 2019. The drill program was designed to test for gold and copper mineralization beneath historical underground workings located along a 500-metre portion of the Alaska vein, which can be traced at surface for approximately 1.2 kilometres. The southern part of the Alaska vein is located approximately 900 metres northwest of the copper mineralized outcrops in the Elena claim with samples reported above.

The first-ever drill program encountered significant gold and copper mineralization in eight of the 12 holes. Of the remaining four holes, two holes failed to intersect the vein, one was abandoned due to fracturing and one intersected anomalous mineralization. Hole 19REB1 intersected the underground workings and was stopped.

Hole ID                    From             To       Interval             Cu             Au
                             (m)            (m)            (m)            (%)          (g/t)

18REB1                   116.03         116.65           0.62           0.96           1.02
                         120.90         121.70           0.80           1.41           2.95
18REB2                   127.00         128.00           1.00           1.87           7.87
                         128.00         129.00           1.00           3.69           9.51
18REB4                    73.80          75.20           1.40          Trace           3.25
                          76.50          78.00           1.50          Trace           1.39
18REB5                    82.00          83.00           1.00           0.30           5.61
18REB6                    84.90          88.20           3.25           2.41           8.31
Including                 85.70          86.20           0.50           1.31           6.95
And                       86.20          87.20           1.00           5.95           17.7
And                       87.20          88.20           1.00           0.83           5.59
18REB8                    63.15          63.50           0.35           0.55           9.59
                          76.90          78.50           1.60           0.39           0.22
                          83.75          85.40           1.65           0.33           0.04
18REB9                    85.12          86.00           0.88           0.30           1.40
18REB10                  103.64         105.14           1.50           1.22          36.10
And                      105.14         106.60           1.46           0.07           1.48

In summary, Ridgestone's exploration results since optioning the Rebeico property have proven very fruitful and justify a more comprehensive program, including detailed mapping and sampling, further geophysical surveys, and extensive diamond drilling.

The management and board of Ridgestone would also like to extend their gratitude to Ron Birch, who passed away suddenly on Jan. 9 this year, for his vision and faith in both the Rebeico project and the company. Mr. Birch was a founding director, a guiding hand and a true friend. He will be greatly missed by the company.

The technical information disclosed in this news release has been reviewed and approved by Steven I. Weiss, CPG, doctor of philosophy, with Mine Development Associates of Reno, Nev., United States. Mr. Weiss is a qualified person under NI 43-101 and the author of the technical report prepared by Mine Development and filed on SEDAR, titled "NI 43-101 Technical Report on the Rebeico Gold-Copper Project; Central Sonora, Mexico."

Investor relations agreement

Ridgestone Mining has retained the services of MarketSmart Communications Inc., a Vancouver-based corporate communications company.

MarketSmart will work to develop and implement a strategic corporate communications program to increase visibility and exposure for Ridgestone Mining among industry stakeholders and investors across Canada. MarketSmart has been in operation since 2002.

In connection with the engagement, which is subject to TSX-V approval, MarketSmart has been awarded a one-year investor relations contract, effective April 23, 2019. Pursuant to the terms of the contract, MarketSmart will be paid $6,000 plus GST (goods and services tax) per month.

About Ridgestone Mining Inc.

Ridgestone is a TSX-V-listed junior mineral exploration company with offices in Taipei and Vancouver, B.C. The company's focus is on precious metals and copper in Sonora, Mexico, and specifically the Rebeico gold-copper project.

We seek Safe Harbor.

© 2019 Canjex Publishing Ltd. All rights reserved.