Ridgeline Minerals Corp (CVE: RDG) is pleased with one of the first core samples Nevada Gold Mines (NGM) pulled from its Swift project in Lander County, Nevada.
The Barrick Gold Corp (TSE: ABX) (NYSE: GOLD) and Newmont Corporation (TSE: NGT) (NYSE: NEM) joint venture currently has an earn-in agreement at the site. It enables NGM to take a 60 per cent stake in the operation by spending US$20 million over five years. This agreement took effect in September, 2021.
On Thursday, Ridgeline released assay results from the sixth hole NGM drilled at Swift. This intercept, containing Carlin-style gold mineralization found only in Nevada, yielded 10.4 g/t gold over 1.1 metres at a depth of 676 metres.
“NGM’ first five framework holes returned thick intercepts of low-grade gold mineralization and confirmed that Swift is host to a Carlin-type system of significant scale,” Ridgeline chief executive, Chad Peters, said in a statement. He added that the result released today affirms that the Swift operation holds high-grade mineralization comparable to underground mines in the state’s Cortez District.
Nevada Gold Mines has spent about US$8.2 million on the project thus far. Swift resides in the Battle Mountain — Eureka gold trend alongside other mine sites like Calibre Mining Corp’s (TSE: CXB) (OTCMKTS: CXBMF) Pan operation and the prolific Marigold project run by SSR Mining Inc (TSE: SSRM) (NASDAQ: SSRM).
Feels like as good a time as any to remind folks that Ridgeline has exposure to two fantastic gold projects at Swift and Black Ridge. Both are currently being explored by NGM under combined US $40M in earn-ins with drills currently turning at Swift! pic.twitter.com/RMWJEkwJkX
— Chad Peters (@ChadPeters_NV) October 18, 2024
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Ridgeline pulls highest-grade grab sample to date at Big Blue
In early September, the junior miner dug up a grab sample from one of its other five Nevada projects containing 16.3 g/t Au. This was the best-ever sample taken from Elko County’s Big Blue site.
Less than a week later, Ridgeline announced that a survey had identified a series of promising new targets at the copper-gold operation.
In addition to Swift and Big Blue, Ridgeline is currently developing the Bell Creek, Black Ridge, Coyote and Selena projects.
Five out of six are focused on copper and precious metals while Selena also holds significant quantities of lead and zinc.
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rowan@mugglehead.com
