Société D’exploration Minière Vior Inc. takes immense pleasure in announcing a strategic investment in Carlin-Type Holdings Ltd (CTH).
Location of Ridgeline’s properties on the Carlin and Battle Mountain—Eureka Trends. (Image credit: Vior Inc. (Société D’exploration Minière))
This is an arm’s length transaction. CTH is a private “Corporation”, which comes under the Business Corporations Act (British Columbia) whose completely owned Nevada subsidiary Ridgeline Minerals Corporation (Ridgeline) has the option to obtain a 100% interest in three highly prospective Carlin-Type gold exploration projects in the world-class Carlin and Battle Mountain—Eureka Trends of Nevada.
Vior has done an investment of $210,600 in the initial seed round of financing, offering it with an equity interest of around 8.3% in CTH. Vior has also been given a pre-emptive right to take part on a pro-rata basis in CTH’s upcoming equity private placement financing.
Ridgeline’s highly prospective Carlin-East (1,700 ha), Swift (2,792 ha), and Selena (2,590 ha) projects pave a distinctive pathway to make a new discovery in established mining districts within the No.1 ranked mining jurisdiction in the world.
Ridgeline will further improve the chances of discovery by making use of its strategic collaborations with EMX Royalty Corp. and Envirotech Drilling LLC to considerably decrease overhead and direct drilling costs, guaranteeing that exploration dollars are going in the ground during the early phase of the exploration cycle.
Carlin-East is a 17-km 2 underexplored core land position in the Carlin Trend that is in keeping with updates with Newmont’s multi-million ounce Leeville-Turf gold mine and adjacent to Barrick’s Goldstrike (50+ Moz. Au, past production and reserve) complex. The primary ore manipulating the structures of the Leeville-Turf mine stretches to the Carlin-East property and coincides with pronounced gravity geophysics high. A conceptual Carlin-Type exploration target has been delineated within this structural corridor and Ridgeline is in the process of accomplishing additional geophysics, sampling, mapping, and historic data review prior to an initial drill program on this high priority target in the summer of 2019.
Swift is a 28-km 2 core land located on the Battle Mountain-Eureka trend. The property is directly in keeping with the Cortez district, which comprises of the prolific multi-million-ounce gold mines—Pipeline, Cortez Hills, and Goldrush. The property displays altered upper plate rocks with inconsistent gold mineralization as well as Carlin-Type pathfinder elements. Historic drilling did not check the highly prospective Goat anticline target but it investigated reasonable depth to Lower Plate stratigraphy of 580 to 670 m and produced multiple intervals with highly anomalous Carlin-Type Au mineralization.
Selena is a 25.9-km 2 early-stage Carlin-Type Au exploration project situated within the proposed extension of the South-Carlin Trend. The property is located at the southern end of the Cherry Creek Range to the east of Kinross Gold’s Bald Mountain and Alligator Ridge mines (4.5+ Moz. Au, reserve and resource) and directly south of McEwen Mining’s Golden Butte and Resurrection Ridge projects. Ridgeline will deal with a newly identified Oxide Au structural target that has been highlighted by multiple EMX Royalty Corp. grab samples collected across this zone that averaged 1.09 g/t Au (n = 16), with a high of 6.02 g/t Au. The structural target is not tested by drilling and seems to broaden as it cuts up-section and continues under shallow cover to the West where it is expected to intersect the Pilot Shale, a regionally significant host to gold mineralization.
We are excited and privileged to be a part of this exciting new Nevada exploration company. Ridgeline is well capitalized following the close of their $1,500,000 CAD private placement in May 2019 and is ready to execute on their 2019 exploration programs. Chad Peters, B.Sc., P.Geo. (President & CEO) and Mike Harp, M.Sc., P.Geo (Senior Exploration Geologist) bring an outstanding exploration track record to the Ridgeline team in their quest for the next great Nevada discovery. This investment will also provide Vior with the opportunity to capitalize on Ridgeline’s outstanding technical skills and Nevada know-how. We look forward to working closely with the Ridgeline team!
Mark Fedosiewich, President and CEO, Vior