Vancouver, British Columbia--(Newsfile Corp. - June 13, 2019) - Ridgestone Mining Inc. (TSXV: RMI) (OTCQB: RIGMF) ("Ridgestone Mining") is pleased to announce the results from a bulk sampling program recently carried out at its Rebeico gold-copper project in Sonora, Mexico.
A total of 111 samples with a combined weight of approximately 2,500 kilograms was collected from eight waste-rock dumps remaining from historical underground mining on the property. The waste-rock material was mined principally from the "Alaska" vein as recently as the 1960's.
The waste-rock dump samples, averaging approximately 22 kilograms each, were collected from trenches and holes excavated with pick and shovel, and were submitted to LABVAL, an independent commercial analytical and metallurgical testing laboratory in Hermosillo, Sonora. Each sample was assayed for gold, silver and copper. Gold and silver were determined by 30-gram fire-assay fusion with a gravimetric finish. Copper was analyzed by atomic absorption spectrometry following digestion with aqua regia. Summary assay results for each of the waste-rock dumps are shown in the following table:
| Waste Dump Name |
Samples (N) |
Sample Wt Mean (kg) |
Au Mean g/t |
Au Range (Min-Max) g/t |
Ag Mean g/t |
Ag Range (Min-Max) g/t |
Cu Mean Percent | Cu Range (Min-Max) Percent |
| Veta Grande | 21 | 20.5 | 6.68 | 1.37-16.85 | 12.67 | 0.83-84.15 | 0.79 | 0.28-1.72 |
| Upper Alaska | 26 | 24.6 | 3.30 | 0.62-10.94 | 10.78 | 4.00-25.30 | 1.39 | 0.65-2.50 |
| Lower Alaska | 14 | 21.8 | 3.40 | 1.23-8.93 | 23.17 | 10.70-92.7 | 1.32 | 0.32-2.70 |
| La Verde | 8 | 18.7 | 3.54 | 1.27-8.91 | 12.13 | 0.31-35.54 | 0.37 | 0.08-0.65 |
| Josefina | 7 | 21.6 | 0.24 | 0.14-0.57 | 12.38 | 0.80-31.17 | 0.49 | 0.42-1.00 |
| Tunel de Garcia | 7 | 19.2 | 2.07 | 0.30-5.72 | 1.82 | 1.00-5.74 | 0.40 | 0.28-1.00 |
| Año Nuevo | 13 | 25.9 | 1.01 | 0.29-2.22 | 5.13 | 1.00-17.70 | 0.60 | 0.23-1.32 |
| Elena | 15 | 21.0 | 0.10 | 0.04-0.58 | 5.28 | 0.20-17.27 | 0.99 | 0.18-2.10 |
| Totals | 111 | 21.7 | 2.5 | 10.4 | 0.8 |
Erwin Wong, CFO and Director of Ridgestone Mining, commented: "While these sampling results represent material that was uneconomic at the time, we are highly encouraged by the grades presented in the context of today's metal price environment. The sampling results serve to reaffirm the historical mining records and moreover, the potential mineralization hosted by the Alaska and associated veins. Going forward, we are incorporating the bulk sample results in addition to the results from drilling, sampling, mapping and prospecting to refine our model for the high-grade mineralization hosted by the Alaska vein. Future planned exploration will include metallurgical testing and sampling of historical production adits and drifts."
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.
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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 or exploration results, or any results from the MarketSmart program. 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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