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Be the first with the news that moves the market- Ridgeline Minerals (RDG) has launched a phase one reverse circulation drill program at its Swift gold project in Nevada
- The program will target gold mineralisation at the Fallen City target using three scout holes over a total of 2,000 metres
- The Fallen City target sits within a highly anomalous zone bounded by the northwest-trending Cortez Structural Corridor
- Previous drilling at the Swift Project returned a highlight intercept of 16.8 metres at 0.72 grams per tonne of gold and 0.5 grams per tonne of silver
- Ridgeline Minerals (RDG) is currently down 9.47 per cent and is trading at C$0.43 per share
Ridgeline Minerals (RDG) has launched a phase one reverse circulation drill program at its Swift gold project in Nevada.
Located immediately next to the historic Elder Creek gold mine, the project sits directly on trend with the Pipeline, Cortez Hills and Goldrush deposits, which form the Cortez Complex owned and operated by Nevada Gold Mines.
Over the course of last year and the beginning of 2020, Ridgeline completed gravity and airborne magnetics geophysics across the entire property, along with surface soil sampling and field mapping.
The current program, which has been fully-permitted for up to 15 drill sites, will include three scout holes over a total of 2,000 metres.
Drilling work has been designed to target gold mineralisation at the Fallen City target, which sits within a highly anomalous zone of surface geochemistry that is bounded by the north-west trending Cortez Structural Corridor.
Previous exploration work at the Swift Project, carried out by Phelps-Dodge in 1999, returned a highlight intercept of 16.8 metres at 0.72 grams per tonne of gold and 0.5 grams per tonne of silver from hole MCK-99-5A. However, no follow-up work has been undertaken since.
The Fallen City target lies roughly one kilometre to the northeast of hole MCK-99-5A, and is thought to be a shallower block of carbonate host rocks next to the region that was previously drilled.
Chad Peters, President and CEO of Ridgeline Minerals, commented on the launch of the drilling program.
“The Phase 1, 2,000-metre drill program will be the first drill-holes on the property to test the Fallen City target, which is one of three high-priority targets identified by the company in 2020.
“Our re-interpreted geologic model highlights the Fallen City as a potential structural trap for Carlin-Type gold mineralisation where it intersects favourable carbonate host rocks on a previously untested portion of the Cortez Structural Corridor,” he added.
Ridgeline Minerals (RDG) is currently down 9.47 per cent to C$0.43 per share at 12:48pm EDT.
