Mr. Mark Fedosiewich reports
VIOR PROVIDES EXPLORATION UPDATE ON ITS STRATEGIC INVESTMENT IN NEVADA
Societe D'exploration Miniere Vior Inc. has provided an update on Ridgeline Minerals Corp.'s 2019 Nevada field program at its Carlin-East and Swift exploration projects. Vior holds an approximate 8.3-per-cent equity interest in privately held Ridgeline Minerals (a wholly owned Nevada subsidiary of Carlin-Type Holdings Ltd.). Vior's investment in Ridgeline provides Vior shareholders exposure to 25,000 acres of highly prospective ground across three exploration projects in the world-class Carlin and Cortez mining trends along with a proven management team. These two prolific trends are host to some of the largest gold mines and deposits in North America, with Nevada consistently ranked the No. 1 gold-mining jurisdiction globally. Vior holds a pre-emptive right to maintain its current equity interest in the next round of financing and to continue to participate in a significant way in this exciting, new, high-potential gold exploration opportunity.
- Ridgeline confirms lower plate host rocks at Carlin-East with its first RC hole CE19-001:
- Hole intersected anomalous gold-silver and Carlin-type pathfinders throughout;
- Swift land deal in Q4 consolidates 49-square-kilometre (12,000-acre) land package directly on trend of Nevada Gold Mines' tier 1 Cortez/Goldrush mining complex:
- Untested lower plate targets exhibit significant exploration potential.
Carlin-East is a 33 square km core land position on the Carlin trend located directly adjacent to Nevada Gold Mines' Carlin/Goldstrike complex (29.9 million ounces gold reserves and resources). The primary ore-controlling structures (Four Corners and Lynn faults) bounding the Leeville-Turf mine extend onto the Carlin-East property and coincide with a kilometre-scale Au in soils anomaly centred over a pronounced gravity geophysics high.
Ridgeline's primary focus for the 2019 program was to test its conceptual geologic model, which predicted lower plate host rocks at depths of less than 1,000 m. RC drill hole CE19-001 was completed on Aug. 5, 2019, and successfully passed through the Roberts Mountain thrust (RMT) and intersected the Rodeo Creek formation at 853 m prior to abandoning the hole at 884 m due to adverse drilling conditions. Anomalous Au-Ag and Carlin-type pathfinder elements (arsenic-antimony-mercury-thallium) were intersected over thick intercepts throughout the drill hole with silicification and sulphide mineralization steadily increasing downhole. A second RC hole (CE19-002) was collared 1,000 m to the north of CE19-001 along the extension of the Leeville structural corridor but was lost at 384 m due to poor drilling conditions encountered in the Four Corners fault zone. Anomalous Au-Ag and Carlin-type pathfinder elements intersected prior to abandoning the hole exhibited higher values than those returned in CE19-001, suggesting the deeper hydrothermal system may be vectoring to the north along the Leeville structural corridor.
Swift is a 49 square km core land position located on the Cortez district of the Battle Mountain-Eureka trend approximately 10 km northwest of Nevada Gold Mines' Cortez/Goldrush complex (26.8 million ounces Au reserves and resources). Historic exploration focused primarily on shallow oxide Au targets in upper-plate rocks with excellent potential remaining within relatively untested lower plate host rocks at depth. The 2019 program focused on historic data compilation, land consolidation and geophysical surveys followed by a phase I surface mapping and geochemical program in Q4 to further define potential targets. Surface geochemical assays are pending and will be integrated into Ridgeline's 3-D geologic model as they are received in preparation for a maiden drill campaign in 2020.
Selena is a 21 square km land position in the Alligator Ridge subdistrict of the south Carlin trend. The project has seen limited exploration over the past 25 years and features multiple shallow oxide exploration targets. Fourteen rock chip samples taken in a previously untested target area in 2019 averaged 1.2 g/t Au with values up to 6.7 g/t Au. Future activities will focus on advancing high-priority targets toward a drilling decision in 2020.
Chad Peters, Ridgeline president and chief executive officer, comments: "In our first year, Ridgeline has consolidated district-scale land positions totalling 25,000-plus combined acres in two world-class mining trends in Nevada. Our projects have benefited from the application of modern exploration techniques and represent rapidly evolving stories with incredible exploration upside."
The technical content disclosed in this press release was reviewed and approved by Marc L'Heureux, PGeo, who is the company's qualified person as per National Instrument 43-101.
About Societe D'exploration Miniere Vior Inc.
Vior is a junior mining exploration company based in Quebec whose corporate strategy is to generate, explore and develop high-quality projects in proven and favourable mining jurisdictions in North America. Through the years, Vior's management and technical team have demonstrated their ability to discover several gold deposits and many high-quality mineral prospects.
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