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Ridgestone Mining Inc
Symbol RMI
Shares Issued 35,198,161
Close 2020-01-23 C$ 0.20
Market Cap C$ 7,039,632
Recent Sedar Documents

Ridgestone Mining samples up to 12.95 g/t Au at Rebeico

2020-01-28 09:08 ET - News Release

Mr. Jonathan George reports

RIDGESTONE SAMPLES UP TO 12.95 G/T GOLD WITHIN LARGE ZONE OF WIDESPREAD GOLD AND COPPER MINERALIZATION AT ITS REBEICO PROJECT, SONORA, MEXICO

Ridgestone Mining Inc. has released results from a recently completed rock-chip sampling program conducted on its Rebeico gold and copper project, Sonora, Mexico.

The sampling focused on the New Year zone, where reconnaissance rock chip sampling by Agnico Eagle Mines (AEM-T) in 2012 and later by Ridgestone's exploration team returned up to two grams per tonne (g/t) gold and 0.63 per cent copper.

Highlights:

  • Widespread gold and copper mineralization at surface distributed over an area of 125 metres by 175 metres (2.2 hectares);
  • High-grade gold, up to 12.95 g/t, including eight rock-chip samples assaying over four g/t gold, 30 samples over one g/t gold and 33 samples between 0.1 to one g/t gold;
  • Copper -- 73 samples over 0.1 per cent copper (Cu), including 14 samples over 0.4 per cent Cu (maximum 0.65 per cent Cu);
  • High bismuth associated with significant gold and copper assays indicates a proximal intrusion-related mineralized system.

The sampling program involved the initial collection of 115 rock-chip samples over a grid covering an area of approximately 200 metres by 180 metres. These averaged one metre in width and were collected from outcrops and weathered talus. Another 73 rock-chip samples, each of approximately three metres in width, were then collected along road cuts and nearby outcrops.

Altogether, a total of 188 samples, with an average weight of 4.5 kilograms, were collected and submitted to ALS Chemex for analysis for gold, copper and multielements.

Significant gold and copper mineralization occurs over an area of approximately 125 metres by 175 metres in the eastern part of the sampled area. Mineralization is hosted by brecciated andesite with variable amounts of gossan plus/minus magnetite and plus/minus quartz, as well as chloritized and fractured andesite peripheral to the brecciated zones. Bismuth is strongly elevated and associated with gold and copper.

A sample collected and analyzed by Agnico Eagle in 2012 from the northeastern part of the New Year zone, that assayed 26.6 g/t gold, has now been attributed to material believed to be from the southern part of the Alaska vein.

Jonathan George, chief executive officer, comments, "These excellent results showing widespread gold and copper mineralization over such a large area are very encouraging and provide compelling targets for drilling to test the extent of mineralization at depth."

Furthermore, he stated, "The occurrence of highly elevated bismuth with gold and copper provides promising evidence of a proximal intrusion-related mineralized system."

The company intends to conduct detailed geological mapping to support a diamond drilling program to test this promising mineralized zone anticipated to commence in Q1 2020.

The 2019 Rebeico sampling program was managed by Ridgestone's partner, YQ Gold SA de CV. Samples were transported by YQ Gold staff from the sample sites to a secure sample storage area on a daily basis. Blank samples were inserted into the sample stream for quality assurance/quality control (QA/QC) purposes. YQ Gold staff transported the samples to the ALS Minerals preparation laboratory in Hermosillo, Sonora. After preparation, sample pulps were air freighted by ALS to its assay laboratory in North Vancouver, B.C. Gold was determined by fire assay fusion, with an atomic absorption finish. Samples with over 10 g/t gold were reassayed for gold by fire assay fusion, with a gravimetric finish. Silver and 31 major, minor and trace elements were determined by ICP-AES following four-acid digestion.

The technical information disclosed in this news release has been reviewed and approved by Steven I. Weiss, CPG, doctor of philosophy and consulting geologist for Ridgestone. Mr. Weiss is a qualified person under National Instrument 43-101 and the author of a technical report filed on SEDAR.

About Ridgestone Mining Inc.

Ridgestone is a 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.

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