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

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RIDGESTONE TO DRILL EL COBRE TARGET ON ITS REBEICCO COPPER

Vancouver, BC – June 23, 2021 – Ridgestone Mining Inc. (OTCQB: RIGMF) (TSX.V: RMI) (FRA:4U5) (“Ridgestone” or the “Company”) is pleased to announce a maiden drill program on the El Cobre copper target on it’s wholly-owned Rebeico copper-gold project in Sonora, Mexico.

 

The program will be comprised of 14 reverse circulation (RC) drill holes for a total of approximately 2,700 metres and will be conducted along the main El Cobre structure, where recent rock-chip sampling returned up to 3.5% copper, 53 g/t silver and 0.52 % Mo over widths of up to 5.0 metres. Historical records of past mining by Asarco in the 1960’s show that high- grade copper was extracted from two levels to a depth of 180 metres, and that the structure remains open along strike and to depth.

 

In preparation for the drill program, permits have been applied for with approval anticipated within the upcoming weeks, after which drill pads will be constructed and road improvements undertaken. Drill quotes have also been solicited.

 

Highlights:

 

  • El Cobre: sampling from the mineralized structure outcropping on surface returned up to 3.5% copper over 1.0 metres, with sampling from the historic dumps ranging from 2.01 to 2.65% copper.
  • Regional: Multiple mineralized structures and artisanal workings were encountered, with sampling returning up to 3.11% copper and up to 3.45 g/t gold from surface.
  • Permitting: Permitting underway for a drill program to test the high-priority copper targets, including the El Cobre mine.
  • Geological Model: Geological mapping has revealed mineralized breccias within and peripheral to volcanic intrusive rocks, contact skarns and hornfels within the sedimentary carbonate and siltstone rocks where they were in contact with volcanic intrusive rocks which are typical for a copper-gold porphyry system.

 

“We are highly encouraged by the work completed on our Rebeico claims with significant copper/gold/silver results sampled on surface from the breccia zones and around the El Cobre mine, in addition to geological mapping results, geophysical results and alteration associated with the volcanic intrusions” commented Jonathan George, CEO. “We believe that these aggregated results indicate the possible presence of a sub-surface copper porphyry system. The upcoming drill program will follow-up on the high-grade copper mineralization encountered on surface to determine the source of and potential extensions of the mineralization. The majority of the targets have not seen any follow-up or investigated by modern-day exploration.”

 

El Cobre Mine

 

A total of fourteen (14) samples were collected around the historic mine, nine (9) of which were along a 200-metre-long structure exposed at surface with the balance taken from outcrops and historic dumps. Highlights from sampling of the main mineralized structure exposed on surface included 3.5% copper plus 0.32 g/t gold over 1.0 metre and 1.5% copper plus 0.44 g/t gold over 1.5 metres. Additionally, sampling from waste dumps from historical mining included 2.65% copper over 3.0 metres, 2.62% copper over 1.0 metre, 2.21% copper over 1.5 metres, and 2.01% copper over 3.0 metres.

 

The El Cobre mine was put into production by Asarco during the sixties and was developed on two levels, with the upper level having over 230 metres of drift development and the lower level having over 100 metres long of drift development at a depth of 180 metres below surface. The main structure, with widths varying from 1 to 5 metres, has been emplaced within a granodiorite intrusive and remains open along strike and at depth. There has been no modern-day exploration at the El Cobre mine or surrounding area since production ceased, making it an ideal target for future exploration. Significant results are presented in Figure 1 below.

 

Figure 1: El Cobre Sampling Highlights (rock-chips except where noted)

Sample# Description Width (m) Cu (%) Au (g/t) Ag (g/t) Mo (%)
616903 Main Structure 1.0 3.50 0.32 32 0.136
63058 Dump 3.0 2.65 0.17 27 0.220
616905 Dump 1.0 2.62 0.12 49 0.333
63064 Dump 1.5 2.21 0.17 37 0.205
63059 Dump 3.0 2.01 0.18 43 0.522
63061 Main Structure 1.5 1.54 0.44 49 0.167
63063 Intrusive 1.5 1.51 0.01 7 0.005
63056 Main Structure 5.0 1.45 0.46 53 0.303
63060 Main Structure 2.0 1.32 0.42 30 0.174
63057 Main Structure 3.0 1.20 0.02 7 0.024
63062 Intrusive 1.5 1.04 0.67 36 0.206

 

Regional Geophysical Anomalies:

 

A detailed mapping and sampling program was conducted over a 5.25 square kilometre area, focusing on geophysical anomalies identified by past surveys. In 2018 and 2019 the Company completed 31 line-kilometres of Induced Polarization/ Resistivity surveys covering an area of approximately 9 sq kilometres. The surveys outlined a significant chargeability anomaly over an 800 metre by 1,200 metre area with depths ranging from near surface to 300 metres. The Alaska Vein, the mineralized New Year Breccia Zone and artisanal Elena copper workings all occur within the surveyed area. A total of eighteen distinct geophysical anomalies were identified, mapped, and sampled.  Multiple mineralized structures and numerous artisanal workings were encountered and sampled during the program. Significant results from the program are highlighted in Figure 2 below.

 

From the completed program, the results of the geophysical survey, geological mapping, prospecting, sampling and the field results between alteration assemblages and assay results, the results may indicate the presence of a copper porphyry system below the surface of the property.

 

Figure 2: Regional Sampling Highlights (rock-chips except where noted)

Sample# Description Width (m) Cu (%) Au (g/t) Ag (g/t)
63119 Old Working (grab) 3.11 2.46 3
63114 Sed/And Contact 0.0 1.70 0.37 10
63189 Breccia 1.5 1.60 0.63 8
63184 Vein (2 m wide) 0.8 1.37 0.04 22
63116 Vein Quartz 1.2 1.06 2.40 6
63179 Breccia 1.0 0.76 0.08 3
63193 Breccia 1.0 0.67 0.01 25
63190 Breccia 1.5 0.51 1.10 7
63168 Breccia 1.5 0.08 3.45 5
63187 Intrusive 2×2 (panel) 0.07 1.72 1
63076 Skarn 1.0 0.04 2.44 <0.5

 

Qualified Persons

 

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

Telephone: 416-732-0604

 

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 COMMENCED PERMITTING FOR DRILL PROGRAMS AT BOTH MEXICAN PROJECTS

Vancouver, BC –  May 25, 2021 – Ridgestone Mining Inc. (TSX.V: RMI) (OTCQB: RIGMF) (FRA: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.

 

Rebeico Copper-Gold

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.

 

Qualified Persons

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

Telephone: 416-732-0604

 

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 ANNOUNCES EXPLORATION COMPLETED AT REBEICO COPPER-GOLD PROJECT, MEXICO

Vancouver, BC –  May 19, 2021 -Ridgestone Mining Inc. (TSX.V: RMI) (OTCQB: RIGMF) (FRA:4U5) (“Ridgestone”) is pleased to announce it has completed another phase of exploration at it’s wholly-owned Rebeico project in Mexico. The program, which was previously announced on April 13th, 2021, was comprised of geologic mapping, prospecting and sampling with assays expected in the coming weeks. Work to date has been positive and continues to suggest that the identified surface copper-gold mineralization on the Rebeico claims may be related to a much larger unexposed subsurface mineralized system.

 

Exploration Program Highlights:

  • The program included detailed geological mapping, prospecting and sampling around the past producing El Cobre copper mine, in addition to all significant chargeability and resistivity anomalies (‘geophysical anomalies’) identified from the 2018/2019 IP surveys which covered the New Year Zone, Elena Concession, and other significant mineralized areas.
  • A total of 93 samples were collected with assays anticipated in the coming two to six weeks.

 

El Cobre Mine

 

A total of fourteen (14) samples were taken from the main mineralized structure and historical dumps, and detailed geological mapping of the surrounding area was undertaken. The main mineralized structure is oriented north-south with a dip of 50 degrees to the east, varying in thickness from one to three metres. The system is characterized as a high sulfidation vein system, strongly oxidized on surface, with quartz veinlets with chalcopyrite, molybdenite, and pyrite. Historical samples taken in 1960 by the National Nuclear Energy Commission (Comisión Nacional de Energía Atómica) reported copper grades from sampling of underground workings of 0.34%, 1.10%, 3.21%, 5.28%, 6.12%, 9.58%; and molybdenum values of 0.002%, 0.16%, 1.57%, and 1.58%. Additionally, a recent radiometric survey conducted by the Mexican Geological Survey over the area, indicated elevated potassium levels which may support the hypothesis that a porphyry system may be present below surface. Approximately   four kilometres east of the El Cobre workings, a prominent, highly oxidized and altered gossan measuring 200 by 250 metres was mapped and twenty (20) rock-chip samples taken.

 

Regional Geophysical Anomalies

 

A detailed mapping and sampling program was conducted over a 5.25 square kilometre area, focusing on geophysical anomalies identified by past surveys. In 2018 and 2019 the Company completed 31 line-kilometres of Induced Polarization/ Resistivity surveys covering an area of approximately 9 sq kilometres. The surveys outlined a significant chargeability anomaly over an 800 metre by 1,200 metre area with depths ranging from near surface to 300 metres. The Alaska Vein, the mineralized New Year Breccia Zone and artisanal Elena copper workings all occur within the surveyed area. A total of eighteen distinct geophysical anomalies were identified for follow up on the current program, which were mapped and a total of 62 samples were collected. Over the majority of targets, significant mineralization was identified on surface. Taken in a regional context, with the presence of high sulfidation copper bearing veins, mineralized breccias that are interpreted as diatreme breccias and in conjunction with surface geochemistry and historical records, RMI finds that this may be evidence of a sub-surface porphyry-type system that is responsible for the numerous mineralized occurrences encountered in the project area.

 

Qualified Persons

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 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

 

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 RELEASES MAIDEN MINERAL RESOURCE ESTIMATE AT GUADALUPE Y CALVO, MEXICO

Vancouver, BC – May 11, 2021 – Ridgestone Mining Inc. (TSX.V: RMI) (OTCQB: RIGMF) (FRA:4U5) (“Ridgestone”) is pleased to announce a maiden National Instrument 43-101 (NI 43-101) Mineral Resource Estimate for it’s Guadalupe y Calvo (“GyC”) gold-silver project in Chihuahua, Mexico. The maiden mineral resource was estimated for two principal mineralized structures, the Rosario and Nankin veins, captured within a combined pit-constrained and underground mineral resource model. Mineralization at GyC remains open for expansion both along strike and down-dip at depth. The GyC project is comprised of 20 square kilometres. Ridgestone entered into an option agreement with Endeavour Silver in December 2020 to acquire a 100% interest in the property.

 

Highlights:

  • Indicated Mineral Resource: 356,000 ounces of gold-equivalent at an average grade of 72 g/t AuEq
  • Inferred Mineral Resource: 460,000 ounces of gold-equivalent at an average grade of 65 g/t AuEq

 

* Mineral Resource Estimate for a combined pit constrained and underground scenario at a cut-off grade of 0.27 g/t AuEq in-pit and 1.33 g/t AuEq underground

 

“We are very pleased with this significant initial mineral resource estimate” commented Jonathan George, CEO “which is a material milestone for any junior exploration company and provides a solid foundation as we move forward to expand the resource both along strike and at depth. We are currently finalizing plans for an upcoming drill program which is planned for this fall after the rainy season. We believe this year will be an exciting and transformational year for the Company as we continue to concurrently advance our Rebeico copper-gold project in conjunction with our GyC gold-silver project.”

 

The estimate was completed by Marc Jutras, P.Eng., M.A.Sc. of Ginto Consulting Inc. and complies with National Instrument 43-101 (“NI 43-101”) and guidelines developed in 2014 by the Canadian Institute of Mining and Metallurgy (“CIM”). Mr. Jutras is a registered professional engineer in the provinces of British Columbia, Quebec and Newfoundland and is independent of Ridgestone. In accordance with NI 43-101 a Technical report will be filed on SEDAR within 45 days of this release.

 

Table 1: Guadalupe y Calvo Indicated and Inferred Mineral Resource Estimate

 

Method Category Tonnage

tonnes

Ag Grade

g/t

Au Grade

g/t

Ag Content

oz

Au Content

oz

AuEq Grade

g/t

AuEq Content

oz

Open Pit Indicated 5,865,413 46.3 0.97 8,734,564 182,133 1.58 298,594
Underground Indicated 562.031 94.1 1.92 1,700,679 34,733 3.18 57,409
Total Indicated 6,427,444 50.5 1.05 10,435,243 216,866 1.72 356,003
Open Pit Inferred 584,637 37.7 0.75 707,975 14,101 1.25 23,541
Underground Inferred 2,489,509 107.5 4.02 8,605,435 321,516 5.45 436,256
Total Inferred 3,074,146 94.2 3.40 9,313,410 335,618 4.65 459,796

 

Notes:

Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, changes in global gold markets or other relevant issues. The CIM definitions (2014) were followed for classification of Mineral Resources. The quantity and grade of reported inferred Mineral Resources in this estimation are uncertain in nature ‎and there has been insufficient exploration to define these inferred Mineral Resources as an ‎indicated Mineral Resource and it is uncertain if further exploration will result in upgrading them to an ‎indicated or measured Mineral Resource category.

 

The resource was prepared by Marc Jutras, P.Eng. of Ginto Consulting, an independent QP, with an effective date of May 10, 2021.

 

The mineral resources are presented at a 0.27 g/t AuEq cut-off grade in pits and 1.33 g/t for underground, without dilution. A specific gravity of 2.55 was utilized based on measurements and comparable project analysis. Assay grades were capped at 40 g/t gold for the Rosario vein and at 25 g/t gold for the Nankin vein, from 1m composited assays. Metallurgical recoveries of 95% were assumed for both gold and silver. Commodity prices of US$1,700/oz gold and US$23/oz silver were assumed.

 

The Whittle pit-constrained resource assumed a mining cost of US$1.50/t, processing cost of US$12.50/t, G&A of $4/t and an internal pit wall angle of 45 degrees.

 

Underground mineral resources are defined as material outside of the Whittle pit shell and assumed a mining cost of US$60/t, processing cost of US$12.50/t, and G&A of $4/t.

 

Rounding of estimates may result in summation differences

 

QA / QC

 

Reverse Circulation and Diamond types of drilling were conducted at GyC Project. The drilling was mainly focused on mineral resource definition by previous owners. The samples are sent for preparation to SGS in Mexico and assayed at their analytical facilities for fire assay with atomic absorption finish and by gravimetric finish for grades above 10gpt Au.  It is the view of the QP that industry-standard QA/QC procedures to the program using reference materials, blanks, standards, and duplicates.

 

Qualified Persons

The estimate was prepared by Mr. Marc Jutras of Ginto Consulting Inc. (“Ginto”), an independent Qualified Person in accordance with the requirements of NI 43-101, who has reviewed and approved the contents of this news release.‎

 

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 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

 

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 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://orders.newsfilecorp.com/files/5790/79613_8b12fce7b4d28ae4_001.jpg

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://orders.newsfilecorp.com/files/5790/79613_rs1a.jpg

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.

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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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