Vancouver, British Columbia--(Newsfile Corp. - May 25, 2021) - Ridgestone Mining Inc. (TSXV: RMI) (OTCQB: RIGMF) (FSE:4U5) ("Ridgestone" or the "Company") is pleased to announce it has commenced permitting for drill programs at both projects in Mexico: the Guadalupe y Calvo (GyC) gold-silver project in Chihuahua State and the Rebeico copper-gold project in Sonora State. The Company is planning for drilling to commence in the late summer following the end of the local rainy season.
"We are excited to advance both projects to allow for drilling later this year," commented Jonathan George, CEO. "The maiden resource tabled for our GyC gold-silver project represents the beginning of a much larger story for the Company. At Rebeico, we are highly encouraged by the preliminary results from the recently-completed exploration program and look to announce assay results in the coming weeks. Our team has identified a number of highly-prospective new target areas, including the past-producing El Cobre copper mine, which has seen little to no modern-day exploration."
Guadalupe y Calvo (GyC) Gold-Silver
Drilling at GyC is designed to further the recently-released maiden resource for the project. The current resource area, which stands at 356,000 oz AuEq in Indicated plus 460,000 oz AuEq in Inferred, remains open for expansion both along strike and at depth. Drilling will look to further define the high-grades at the Rosario and Nankin veins, in addition to testing for significant extensions within the district.
The Company is permitting for a drill program to test the high-priority copper target areas that were the subject of a recently-completed exploration program. Assay results are anticipated in the coming weeks, which will serve to prioritize the numerous target areas being permitted.
Noris Del Bel Belluz, P. Geo., Vice-President of Exploration, is a "qualified person" as defined under NI 43-101 and has reviewed and approved the content of this news release.
About Ridgestone Mining Inc.
Ridgestone Mining has assembled a highly-experienced and dynamic team to explore and advance its projects in Mexico. The Guadalupe y Calvo gold-silver project, for which Ridgestone can earn a 100% interest, is host to an Indicated Resource of 356,000 gold-equivalent ounces plus an Inferred Resource of 460,000 gold-equivalent ounces. Ridgestone's 100%-owned Rebeico copper-gold project has high-grade copper and gold pervasive throughout the property with highlights including 1.56% copper plus 1.80 g/t gold intersected over 19.3 metres from surface at the New Year Zone and 2.78% copper plus 8.69 g/t gold over 2.0 metres from the Alaska Vein.
For further information, please contact:
Rad Rajaram - Manager Corporate Relations and Business Development
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, timing of such programs, or exploration results. 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.
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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