Category: Silver / Gold

Ridgestone Mining Inc. Completes Drill Program On Its Rebeico Gold-Copper Project, Sonora, Mexico

Vancouver, British Columbia-- December 13, 2018 - Ridgestone Mining Inc. (TSXV: RMI) (OTCQB: RIGMF) ("Ridgestone Mining") announces that it has received partial results from a recently completed 12 hole, 1,430 meter diamond drill program at its Rebeico gold-copper project located within the prolific Sierra Madre gold belt, Sonora, Mexico
 
The program was designed to test for gold and copper mineralization beneath historical underground workings located along a 500 meter portion of the "Alaska" vein which can be traced at surface for approximately 1.2 kilometers in a north-south direction.
 
Drill holes 18REB1 and 18REB2 were collared at the same location and drilled at angles of -50 and -65 degrees respectively. Hole 18REB1 intersected old workings, presumably where the vein had been previously mined out, and was halted at 121.7 meters.

Drill holes 18REB3 and 18REB4 were both collared about 415 meters south of holes 18REB1 & 2, and were drilled at angles of -50 and -60 degrees respectively. Hole 18REB3 encountered an intensely fractured fault zone and was abandoned before reaching the targeted depth.

Highlights of the assay results are summarized below:

Hole ID From
(m)
To
(m)
Interval
(m)
Au
g/t
Cu
%
18REB1 116.03 116.65 0.62 1.02 0.96
120.90 121.70 0.80 2.95 1.41
18REB2 127.0 128.0 1.00 7.87 1.87
128.0 129.0 1.00 9.51 3.69
18REB4 73.8 75.2 1.40 3.25 trace
76.5 78.0 1.50 1.39 trace

 

Hole 18REB4 also contained elevated bismuth (>90 ppm) associated with the gold mineralization. This may be indicative of a high-temperature, intrusion-related style of mineralization potentially proximal to a copper-gold porphyry or iron-oxide copper-gold ("IOCG") system.

Although exploration at Rebeico is at a very early stage, the gold and copper values encountered in these first drill holes indicate that mineralization extends beneath the shallow historical workings and down-dip along the Alaska vein. The gold values received from hole 18REB4, drilled more than 400 meters south of holes 18REB1 & 2, also indicate that subsurface mineralization extends a significant distance along strike. Results from the remaining 8 drill holes will be released when assays have been received and evaluated.

The Rebeico drilling program was managed by Ridgestone's partner, YQ Gold 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., and consulting geologist for Ridgestone. Mr. Weiss is a Qualified Person under NI 43-101 and the author of the technical report 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:

Ron Birch, Director
Ridgestone Mining Inc.
Telephone: 1-800-910-7711

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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

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