Ridgestone Mining Inc. (RMI.V) (RIGMF.QB)

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RIDGESTONE TO DELIVER NI 43-101 RESOURCE ESTIMATE FOR GUADALUPE & CALVO

Vancouver, BC – April 27, 2021 – Ridgestone Mining Inc. (TSX.V: RMI) (OTCQB: RIGMF) (FRA:4U5) (“Ridgestone”) is pleased to announce the engagement of Marc Jutras of Ginto Consulting Inc. to prepare an independent National Instrument (NI) 43-101 mineral resource estimate for the Guadalupe y Calvo (GyC) gold-silver project in Mexico. The resource estimate is being prepared based on an extensive review of historical exploration results, including detailed sectional interpretation, and is anticipated to be completed in the coming weeks.

 

Marc Jutras, P.Eng. M.A.Sc. is a highly experienced geostatistician with over 35 years of experience in mineral resource modelling and estimation including holding senior roles with Barrick Gold Corp. and Placer Dome Inc. Mr. Jutras founded Ginto Consulting Inc. in 2015, a firm specializing in the estimation of mineral resources and reserves for mining projects at various stages of development. Previously, Mr. Jutras was Director of Mineral Resources of Alamos Gold for six years (2009 – 2015) where he was responsible for mineral resource and reserve estimation of the Mulatos mine in Mexico, the Agi Dagi / Kirazli / Camyurt project in Turkey, the Esperanza project in Mexico, and other projects within Alamos’ portfolio. Mr. Jutras holds a Master’s degree in Applied Sciences (M.A.Sc.) from Ecole Polytechnique of Montreal and Bachelor’s degree in Geological Engineering (B.Eng) from University of Quebec in Chicoutimi. Mr Jutras is a registered professional engineer in the provinces of British Columbia, Quebec and Newfoundland.

 

Jonathan George, CEO, commented: “We are delighted to be forging ahead with our projects in Mexico and to retain the services of Mr. Jutras and Ginto Consulting to work on a resource estimate for our GyC project. Our technical team has been extensively reviewing the database of past exploration and are highly encouraged about the opportunity for the property to host a significant resource. Marc brings a wealth of experience in resource estimation and having specifically having worked on a number of significant projects in Mexico.”

 

About Ridgestone Mining Inc.

 

Ridgestone is a Canadian mineral exploration company focused on its Guadalupe y Calvo (gold/silver) and Rebeico (copper/gold) projects located in Mexico.

 

For further information, please contact:

Rad Rajaram – Manager Corporate Relations and Business Development

Telephone: 416-732-0604

radha@ridgestonemining.com

 

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.

 

SOURCE:  Ridgestone Mining Inc.

RIDGESTONE MINING ANNOUNCES APPOINTMENT OF DANTE E. AGUILAR CASTILLAS AS MEXICAN COUNTRY MANAGER

Vancouver, BC – April 20, 2021 – Ridgestone Mining Inc. (TSX.V: RMI) (OTCQB: RIGMF) (FRA:4U5) (“Ridgestone”) is pleased to announce the appointment of Dante E. Aguilar Castillas as Country Manager, Mexico.

 

Mr. Castillas has over 30 years of experience in   exploration, geology and technical evaluations and operations of both underground and open pit mines. Mr. Castillas is the founder of Geotech Evaluation & Support (GES), a company that specializes in regional exploration and mining geology, engineering geology and rock mechanics, structural geology, and geochemical interpretation. GES has been involved with the evaluation of 28 precious-metal projects throughout Mexico and the United States. These projects have ranged from early-stage exploration through to operating mines, with clients including Fresnillo and Goldcorp. Previous, Mr. Castillas was Exploration Manager at Goldcorp’s Peñasquito mine in Mexico and recognized for the discovery of the deep copper-gold skarn deposit in 2012. Mr. Castillas holds a Bachelor of Science degree in Geological Engineering from the University of San Luis Potosi.

 

Mr. Jonathan George, CEO, commented: “Dante’s background includes extensive hands-on exploration on projects of varying size and scale, from early-stage exploration through to production. We are excited for his involvement in Ridgestone as we prepare for an active 2021 with exploration programs planned for both the Guadalupe y Calvo (GyC) and Rebeico projects in Mexico.”

 

About Ridgestone Mining Inc.

 

Ridgestone is a Canadian mineral exploration company focused on its Guadalupe y Calvo gold-silver and Rebeico copper-gold projects, both located within the prolific Sierra Madre mineral belt in Mexico.

 

For further information, please contact:

Rad Rajaram – Manager, Corporate Relations and Business Development

Telephone: 416-732-0604

radha@ridgestonemining.com

 

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.

 

SOURCE:  Ridgestone Mining Inc.

RIDGESTONE COMMENCES EXPLORATION AT ITS HIGH-GRADE REBEICO COPPER-GOLD PROJECT IN MEXICO

Vancouver, BC – April  13, 2021 – Ridgestone Mining Inc. (TSX.V: RMI) (OTCQB: RIGMF) (FRA:4U5) (“Ridgestone”) is pleased to announce a phased exploration plan at it’s wholly-owned Rebeico project in Mexico. Work to date has been positive and indicates that the identified copper-gold mineralization on the Rebeico claims may be part of a much larger mineralized system and is most likely related to this system.

 

The current exploration phase will be comprised of geologic mapping, sampling and prospecting with the aim of delineating additional targets for follow-up exploration drilling. Specifically, the program will focus on the New Year Zone, the Santa Elena outcrop, and the El Cobre mine. In addition, the program will evaluate a number of copper and gold prospects identified on the project.

 

“We are excited to remobilize to the Rebeico project specifically given the significant past exploration efforts which have already delineated a number of high-grade copper and gold opportunities within the expansive property package” stated Jonathan George, Ridgestone’s CEO and Director. “Our focus of this next phase of exploration is to refine and prioritize the numerous copper and gold targets within the project area for a follow-up drill program and extend the areas of known mineralization.”

 

New Year Zone

 

Exploration efforts at the New Year Zone will follow up on the successful 2020 exploration program, which outlined a large zone of widespread copper and gold mineralization with rock chip sampling returning up to 0.65% copper and 12.95 g/t gold. The subsequent drill program confirmed the sub-surface extension of widespread mineralization identified on surface, with highlights including 1.56% copper plus 1.8 g/t gold over 19.30 metres from surface and 0.54% copper over 29.15 metres from surface. Based on geological interpretations of past exploration data, the Company will focus follow-up exploration to the east and north-east where mineralization is expected to be more pervasive.

 

Elena Concession

 

Previous rock-chip samples from the Elena concession returned assays of 3.77% copper over 1.5 metres and 3.42% copper over 1.5 metres, where artisanal workings are observed in a stockwork/breccia zone with abundant copper oxides. The Elena concession is underlain by an intense chargeability anomaly, which may represent a potential source of the copper mineralization observed at surface. Approximately 450 meters west of Elena, three rock-chip samples collected from outcrop returned from 1.31% to 2.13% copper suggesting a possible extension of the mineralized zone. Additionally, approximately 600 metres north of Elena, channel samples collected from outcrop returned 2.42% copper and 4.35% copper over a 1.5 metre interval.

 

El Cobre Mine

 

The El Cobre mine was a high-grade underground copper mine operated by Asarco during the 1960’s. Based on historical records, the mine was developed on three levels down to a depth of 130 metres with over 180 metres of lateral development on each level. Historical sampling of waste material discarded from prior operations ranged between 2.07% to 2.41% copper with notable gold, silver and molybdenum credits. The current exploration program will focus on prospecting around the El Cobre mine and surrounding area for extensions to the high-grade copper mineralization and delineating targets for follow-up drill testing.

 

Regional Exploration

 

The Company’s wholly-owned 3,459-hectare land position that comprises the Rebeico property has seen little to no modern-day exploration. The exploration program will focus on following up on a number of high-grade artisanal workings documented by Mexican Government reports and the Mexican Geological Survey (Servicio Geológico Mexicano or “SGM”).

 

The Company has engaged Prospeccion y Desarrollo Minero del Norte S.A. de C.V. or ProDeMin of Mexico to assist with the exploration efforts. ProDeMin engages primarily in project management, in addition to exploration efforts such as geological mapping and sampling, surveying, prospecting and project generation. ProDeMin’s clients include senior gold companies such as Kinross Gold, Argonaut Gold, and Alio Gold, as well a number of Mexican-focused exploration companies.

 

Qualified Person:

 

Mr. Noris Del Bel Belluz, P.Geo and VP Exploration, is the qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical information in this news release.

 

About Ridgestone Mining Inc.

 

Ridgestone is a Canadian mineral exploration company focused on its high-grade Guadeloupe y Calvo (gold/silver) and Rebeico (copper/gold) and gold project located in Mexico.

 

For further information, please contact:

Rad Rajaram – Manager Corporate Relations and Business Development

Telephone: 416-732-0604

radha@ridgestonemining.com

 

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.

 

SOURCE:  Ridgestone Mining Inc.

Ridgestone Highlights IP Anomaly and High-Grade Copper at Rebeico

Vancouver, BC – April 7, 2021 – Ridgestone Mining Inc. (TSXV: RMI) (OTCQB: RIGMF) (FSE: 4U5) (“Ridgestone”) is pleased to announce encouraging results from geophysical surveys and follow-up exploration on its wholly-owned Rebeico project in Sonora, Mexico.

 

Highlights

 

  • Induced polarization (IP) and resistivity surveys totaling 31.4 line-kilometres (~6.0 sq. km) were previously completed by Zonge International of Tucson, Arizona.
  • A strong IP high (chargeability anomaly) with an extent of 1,400 metres north-south and 800 metres east-west was identified south of the Alaska vein. This anomaly is most pronounced beneath the Company’s Elena concession where surface sampling has returned up to 3.77% copper and 0.741 ppm gold.
  • High-grade copper ± gold is pervasive throughout the property with 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.

 

Jonathan George, Ridgestone’s CEO and Director, commented, “The IP and resistivity survey has outlined a strong anomaly which is very pronounced at the Elena concession. Given the significant copper intersected from drilling on the New Year Zone and Alaska Vein, in addition to the high-grade surface samples from the Elena concession, we are highly encouraged about the potential for a significant copper system at Rebeico.”

 

The Induced Polarization (IP) and Resistivity surveys were carried out by Zonge International (“Zonge”) of Tucson, Arizona and consisted of 15 east-west lines spaced 200 metres apart, comprising coverage of 31.4-line kilometers of dipole-dipole measurements over an area of approximately 6.0 square kilometers.

 

The survey originated over the key Alaska vein, and provided coverage south through the New Year Zone and Elena concession. A summary report of the data provided by Zonge included 15 sets of IP and resistivity cross sections and horizontal slices at various elevations.

 

The Zonge report identified a pronounced high-chargeability feature which was encountered to the south and east of the Alaska vein at depths of 250 to 300 metres below surface, progressively increasing in width and intensity toward the south. This high-chargeability anomaly was identified over a total extent of 1,400 metres north-south and 800 metres east-west. The upper portion of the anomaly becomes progressively closer to the surface toward the south and is strongest beneath the Company’s Elena concession (Figure 1). Samples from copper mineralized outcrops at the Elena concession such as those in Figure 2 have assayed up to 3.77% Cu over 1.5 metres and 3.42% Cu over 1.5 metres; other samples assayed up to 0.741 ppm gold.

 

Cannot view this image? Visit: https://i1.wp.com/orders.newsfilecorp.com/files/5790/79613_8b12fce7b4d28ae4_001.jpg?w=1060&ssl=1

Figure 1: Chargeability Inversion Model Slice at 300 m Elevation, Elena Concession

 

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5790/79613_8b12fce7b4d28ae4_001full.jpg

Cannot view this image? Visit: https://i1.wp.com/orders.newsfilecorp.com/files/5790/79613_rs1a.jpg?w=1060&ssl=1

Figure 2: Visible Copper Mineralization in Outcrops at the Elena Concession

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5790/79613_rs1.jpg

 

Note: Outlined area contains visible secondary copper minerals.

Cannot view this image? Visit: https://i0.wp.com/orders.newsfilecorp.com/files/5790/79613_8b12fce7b4d28ae4_004.jpg?w=1060&ssl=1

Figure 3: Rebeico Claims Outlining Targets

 

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/5790/79613_8b12fce7b4d28ae4_004full.jpg

 

To view Figures 1 through 3, please visit the Company’s website at: https://ridgestonemining.com/news-releases/2021/

 

Qualified Person:

Mr. Noris Del Bel Belluz, P.Geo and VP Exploration, is the qualified person as defined by National Instrument 43-101 and has reviewed and approved the technical information in this news release.

 

About Ridgestone Mining Inc.

 

Ridgestone is a Canadian mineral exploration company focused on its high-grade Guadeloupe y Calvo (Gold/Silver) and Rebeico (Gold/Copper) projects located in Mexico.

 

For further information, please contact:
Rad Rajaram – Manager Corporate Relations and Business Development
Telephone: 416-732-0604
radha@ridgestonemining.com

 

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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About Ridgestone Mining

Ridgestone Mining Inc. is a Canadian based exploration company that has joined forces with an accomplished team of geologists to identify and explore promising precious and base metals deposits in northern Mexico.

Combining Ridgestone managements’ extensive expertise in the financial and capital markets with a powerful Mexican based geological group, provides investors with a high degree of confidence in the successful growth of our company.

Exploring for High-Grade Gold & Copper in Mexico’s famed

SIERRA MADRE GOLD BELT

The Right Team: Demonstrated Ability from Discovery through Disposition

Ridgestone’s team has a proven track record of acquisition, discovery and monetization in Mexico and abroad. RMI has significant Management and Board bench strength, including a CEO (Jonathan George) that built and sold a company in Mexico, a Board Advisor (Dr. Andrew Ramcharan) that has advised on >$1B of transactions in the mining space, and an exploration team (Noris Del Bel Belluz, VP Exploration and Dante Aguilar Casillas, Country Manager) who have worked with some of the largest mining companies in the world.

 

Jonathan George, CEO: A seasoned mining entrepreneur and geologist with over 35 years of experience in exploration, development and financing. Jonathan founded, developed and sold one of the largest molybdenum deposits in Mexico for $195M. He was also instrumental in assembling Alpha Mineral’s uranium claims in the Athabasca basin, which was subsequently acquired by Fission Uranium for $185M.

 

Dr. Andrew Ramcharan, Strategic Board Advisor: Andrew has significant technical and capital markets experience, having raised >$600M at IAMGOLD and >$1B in debt and equity financings during his career. He also led the team at Petaquilla Minerals which made a >1M ounce gold discovery in Panama, in addition to holding several senior roles with leading resources company globally.

 

Norris Del Bel Belluz, VP Exploration: A mining veteran with over 35 years experience in projects ranging from exploration through to operation of underground and open-pit mines. Norris has been involved with a number of world-class deposits including Nevsun Resources’ Bisha min in Eritrea, which was acquired by Zijin Mining Co. for $1.8B, and Freeport-McMoran’s Grasberg mine in Indonesia. His technical background is complemented by senior roles with world-renowned engineering firms including Stantec and Wardrop.

 

SOURCE:  https://www.ridgestonemining.com/

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