Ridgeline Minerals Corp. (CVE: RDG) has kicked off a major 6,000-meter drill program at its Swift gold project in Nevada.
Announced on Wednesday, the program is being funded and operated by Nevada Gold Mines (NGM) under an exploration earn-in agreement. Accordingly, NGM has approved up to USD$5 million in exploration spending at Swift for 2025. The focus will be on expanding high-grade gold mineralization discovered during the 2024 campaign.
NGM is a joint venture project between Barrick Mining Corp (TSE: ABX) (NYSE: B) and Newmont Corporation (TSE: NGT) (NYSE: NEM) (FRA: NMM).
The 2024 framework drill program yielded the first-ever high-grade gold intercepts at Swift. Hole SW24-006 returned 1.1 meters grading 10.4 grams per tonne (g/t) gold within a broader intercept of 2.7 meters grading 7.0 g/t. A second hole, SW24-007, intercepted 24.7 meters grading 0.5 g/t gold. These results confirmed the presence of a high-grade gold system in the SW Swift target area.
“This is a core asset in our portfolio,” said Chad Peters, Ridgeline’s President, CEO and Director. “Swift represents just under 50 per cent of our USD$11 million exploration budget for 2025.”
Four of the five new drill holes will test extensions of the high-grade mineralization discovered in 2024. These targets also lie at the projected intersection of cross-cutting fault zones and a modelled fold hinge. Both are considered strong indicators of fluid movement and gold deposition. All holes are located on the hanging wall side of the Mill Creek thrust fault, a key structural control.
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Swift is a promising project in Cortez region
The fifth hole will test the Mill Creek target, several kilometers north of SW Swift. Here, drillers will target favourable Wenban Formation limestones—host rocks well-known from the Cortez District. Historical drilling in this area intersected 3.0 meters grading 2.1 g/t gold within a broader zone of 18.3 meters grading 0.6 g/t. This further suggests potential for additional discovery north of the current high-grade zone.
NGM has invested USD$10.87 million in qualifying exploration work at Swift as of June 30, 2025. Subsequently, under the terms of the earn-in agreement, NGM must spend a total of USD$20 million by December 31, 2026, to earn an initial 60 per cent interest in the project. The partnership was first announced on September 22, 2021.
NGM also holds the right to increase its stake to 70 per cent by spending an additional USD$10 million before the end of 2029. Furthermore, if NGM and Ridgeline jointly decide to develop the mine, NGM may elect to finance Ridgeline’s portion of debt costs. This would give NGM an additional 5 per cent interest, potentially bringing its total stake to 75 per cent. If the second earn-in milestone is not met, this would cap NGM’s stake at 65 per cent.
Ridgeline and NGM see Swift as a promising project in Nevada’s prolific Cortez region. Producers know the district for its multi-million-ounce gold systems. In addition, Swift sits on the Battle Mountain-Eureka Trend, a corridor that hosts some of the world’s largest gold deposits.
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Nevada hosts majority of known Carlin-type deposits
Carlin-style gold deposits are sediment-hosted systems known for their fine-grained, “invisible” gold embedded in carbonate rocks. Hydrothermal fluids alter silty limestone or dolomite and deposit microscopic gold, forming Carlin-style gold deposits. These systems concentrate gold that is often invisible to the naked eye. Geologists named them after the Carlin Trend in northeastern Nevada, where miners discovered some of the richest gold deposits in U.S. history.
Nevada also hosts the vast majority of known Carlin-type deposits globally. The Carlin, Battle Mountain-Eureka, and Getchell Trends all contain significant examples. These regions also offer ideal structural settings that help channel mineralizing fluids.
Further, several companies actively explore and develop Carlin-style projects. NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) is one of them. Its Limousine Butte project in eastern Nevada targets shallow oxide and deeper Carlin-type gold systems. The company also recently confirmed near-surface mineralization, with deeper potential being evaluated.
Additionally, i-80 GOLD CORP. (TSE: IAU) (NYSEAMERICAN: IAUX) is aggressively advancing its portfolio of Carlin-style assets. Its Granite Creek, Ruby Hill, and McCoy-Cove projects are located along key Nevada gold belts. The company is also combining exploration with redevelopment of historic mines to tap into high-grade underground potential.
Barrick Mining, independent of its role with NGM, also remains a dominant force in the Carlin district, operating some of the world’s largest deposits.
Carlin-style deposits remain a cornerstone of U.S. gold production. Their scale, grade, and geologic consistency continue to attract both major and junior explorers.
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NevGold Corp is a sponsor of Mugglehead news coverage
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