Ridgeline Minerals drills 33.7 metres of 0.5 g/t gold at Swift Project, Nevada
Ridgeline Minerals Corp. [TSXV: RDG; OTCQB: RDGMF; FRA: 0GC0] released the final assay results for core hole SW25-008, at the Swift gold project, Nevada, currently being operated under an exploration earn-in agreement with Nevada Gold Mines (NGM).
Drill hole SW25-008 was the first of two deep core holes completed in the 2025 program and was drilled to a total depth of 1,249.7 metres. Hole SW25-008 intersected 115 combined metres of 0.2 to 1.5 g/t gold, including a highlight intercept of 5.8 metres grading 1.5 g/t gold within 33.7 metres grading 0.5 g/t gold starting at 1,059 metres downhole.
The hole was drilled approximately 500 metres southeast and along strike of hole SW24-006, which returned the highest-grade intercept in project history, including 1.1 metres grading 10.4 g/t gold within 2.7 metres grading 7.0 g/t gold starting at 676.3 metres downhole.
Chad Peters, president, CEO and director, commented: “NGM continues to vector into the core of the gold system at SW Swift. Today’s results expand the multi-kilometre gold footprint and demonstrate the impressive scale of the target, which is hosted in the same rocks and directly on trend of multiple mines in the Cortez district. Hole 8 has returned a 115-metre-thick consolidated gold zone ranging from 0.2 to 1.5 g/t gold and represents one of the best gram-metre intercepts drilled on the property to date. With two RC precollars drilled last fall and ready for core tails, we anticipate a quick start to the drill program this spring to support the largest NGM exploration budget in the project’s history.”
Peters continued: “The recent approval of the Swift plan of operations permit is a significant permitting milestone for the project that will support advanced exploration at the project with up to 200 acres of available exploration disturbance. Furthermore, the new permit will allow the NGM team to optimize drill hole locations to more aggressively target the proposed high-grade gold corridor at SW Swift in 2026.”
NGM has spent US$14,482,000 in phase I qualifying work expenditures through December 31, 2025, and will spend an additional US$5,518,000 at the project through December 31, 2026, for a total of US$20 million. NGM will earn an initial 60% interest in the project upon completion of phase 1 of the earn-in agreement.
SW25-008 was designed to test along strike of high-grade gold intersected in SW24-006 at the projected intersection of a north-south-trending fault corridor with the southwest projection of the Mill Creek thrust fault:
The Mill Creek thrust has now been intersected in multiple drill holes at Swift and is interpreted as a significant structural control and conduit for gold mineralization.
Drilling has intersected an 114.6-metre thick consolidated gold zone (more than 0.2 g/t Au) starting at 779 metres downhole with highlight intercepts, including 39.3 m grading 0.2 g/t gold, 15.5 metres grading 0.2 g/t gold and 6.3 mettres grading 0.4 g/t gold; 33.7 m grading 0.5 g/t Au, including 5.8 m grading 1.5 g/t gold.
Plan of operations exploration permit: NGM received approval in late 2025 for a 200-acre plan of operation (PoO) exploration permit. The increased surface disturbance limits will allow the NGM team to optimize drill hole locations across the project to aggressively target the proposed high-grade gold corridor at SW Swift in 2026.
2025 exploration budget: NGM has approved a 2025 exploration budget totalling US$5,518,000 to satisfy the phase 1 earn-in requirements and drill up to five deep core holes at Swift. Drilling will continue testing downdip and along strike of the known mineralized corridor at Southwest Swift to vector toward the interpreted core of a higher-grade gold zone. Drilling is expected to begin as early as late Q1 (first quarter) with start dates dependent on weather dependent site accessibility.
NGM retains the right to earn an initial 60% interest in the Swift project over an initial five-year term by incurring a minimum of US$20.0 million in qualifying work expenditures. NGM retains the option to increase its interest up to 7% by incurring an additional US$10.0 million in qualifying work expenditures by December 31, 2029.
Within 90 days of a joint venture decision to proceed with development and construction of a mine and/or related processing facilities on Swift, NGM will have a one-time option to elect to provide, or arrange for third party, financing of Ridgeline’s portion of debt financing required for the development in consideration, in either case, for an additional 5% interest in the project for a total of 75 per cent (or 65% if the second option was not exercised).
Ridgeline Minerals has a 200 km2 exploration portfolio across seven projects in Nevada. The company is a hybrid explorer with a mix of 100%-owned exploration assets (Big Blue, Atlas, Bell Creek and Coyote), as well as two earn-in exploration agreements with Nevada Gold Mines at its Swift and Black Ridge projects, and a third earn-in with South32 at its Selena project.
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