Vancouver, British Columbia--(Newsfile Corp. - January 17, 2019) - Ridgestone Mining Inc. (TSXV: RMI) (OTCQB: RIGMF) ("Ridgestone Mining") has received final assay results from an initial drill program conducted on its Rebeico gold-copper project located within the prolific Sierra Madre gold belt of Sonora Mexico.
Drilling was designed to test for gold and copper mineralization down-dip below historical workings along a portion of the >1km long "Alaska" vein.
Assay results for the first 4 drill holes (18REB1 through 18REB4) were reported in the Company's December 13th news release.
Highlights of the assay results from holes 18REB5 through 18REB12 are summarized as follows:
| Hole ID |
From (m) |
To (m) |
Interval (m) |
Au g/t |
Cu% |
| 18REB5 | 82.00 | 83.00 | 1.00 | 5.61 | 0.30 |
| 18REB6 | 84.90 | 88.20 | 3.25 | 8.31 | 2.41 |
| including | 85.70 | 86.20 | 0.50 | 6.95 | 1.31 |
| and | 86.20 | 87.20 | 1.00 | 17.70 | 5.95 |
| and | 87.20 | 88.20 | 1.00 | 5.59 | 0.83 |
| 18REB8 | 63.15 | 63.50 | 0.35 | 9.59 | 0.55 |
| 76.90 | 78.50 | 1.60 | 0.22 | 0.39 | |
| 83.75 | 85.40 | 1.65 | 0.04 | 0.33 | |
| 18REB9 | 85.12 | 86.00 | 0.88 | 1.40 | 0.30 |
| 18REB10 | 103.64 | 105.14 | 1.50 | 36.10 | 1.22 |
| and | 105.14 | 106.60 | 1.46 | 1.48 | 0.07 |
A complete summary of results from the drill program along with maps and sections are available on the Company's website.
Significantly, Hole 18REB8 intersected highly anomalous bismuth values (2,800 ppm Bi) with the 9.59 g/t Au assay from 103.64 meters to 105.14 meters. As previously reported, anomalous bismuth may be indicative of a high temperature, intrusive-related style of mineralization potentially proximal to a copper gold porphyry or IOCG (iron oxide copper gold) system.
The high gold and copper values encountered along the previously un-drilled Alaska vein in this first phase of drilling are extremely encouraging, and further drill campaigns are warranted. It should be noted this first drill program investigated only very shallow depths and only a lateral distance of 500 meters along the >1km Alaska vein.
Mr. Jonathan George, of partner YQ Gold de Mexico S.A de C.V., commented "These results, together with those of previous geochemical and geophysical programs undertaken by Ridgestone and YQ Gold, provide compelling evidence of the potential for a significant new discovery in a relatively unexplored region of the Sonoran Sierra Madre mineralized belt."
The Rebeico drilling program was managed by Ridgestone's partner, YQ Gold de Mexico S.A. de C.V. Drill core was transported by YQ Gold personnel from the drill sites to a secure logging and sample storage area on a daily basis. After logging by YQ Gold geologists, intervals selected for sampling were sawed in half lengthwise. The ½-core samples were placed in pre-numbered sample bags and weighed. Blank samples were inserted into the sample stream for Quality Assurance / Quality Control ("QA/QC") purposes. YQ Gold personnel transported the samples to the ALS Minerals ("ALS") preparation laboratory in Hermosillo, Sonora. After preparation, sample pulps were air-freighted by ALS to their assay laboratory in North Vancouver, British Columbia. Gold was determined by fire-assay fusion with an atomic absorption finish. Silver and 31 major, minor and trace elements were determined by ICP-AES following 4-acid digestion.
The technical information disclosed in this news release has been reviewed and approved by Steven I. Weiss, C.P.G., Ph.D., with Mine Development Associates ("MDA") of Reno, Nevada, USA. Mr. Weiss is a Qualified Person under NI 43-101 and the author of the technical report prepared by MDA and filed on SEDAR titled "NI 43-101 Technical Report on the Rebeico Gold-Copper Project; Central Sonora, Mexico".
About Ridgestone Mining Inc.
Ridgestone is a TSX Venture Exchange-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.
For further information, please contact:
Erwin Wong, CFO & Director
Ridgestone Mining Inc.
Telephone: 604-377-8758
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 the preparation of a definitive agreement and the requirement of TSX Venture Exchange approval therefor. 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 Prospectus dated February 9, 2018 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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