Vancouver, British Columbia - August 28, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Ridgestone Mining Inc. (TSXV: RMI) (the "Company" or "Ridgestone), is pleased to announce that drilling is underway at its Rebeico Gold-Copper project located in Sonora, Mexico.
The program is designed to test for gold and copper mineralization below historical workings along the "Alaska" vein which has a strike length of over one kilometer and is open at depth.
Diamond drilling will comprise 12 HQ-diameter holes totaling approximately 1,400 meters, and is being conducted by Layne Drilling of Mexico, under the supervision of YQ Gold de Mexico, the project operator.
About the Rebeico Gold-Copper Project
The Rebeico Gold-Copper Project is located approximately 115 kilometers east of Hermosillo, Sonora, Mexico in the famed Sierra Madre Gold Belt, which has reportedly produced more than 80 million ounces of gold and over 4.5 billion ounces of silver.
Ridgestone has an option to earn a 100% interest in the Rebeico Gold-Copper Project (subject to a 2% NSR) from YQ Gold de Mexico S.de R.L. de C.V., (a private Mexican company) ("YQ") as further described in the Company's June 11, 2018 news release.
The Rebeico Gold-Copper Project's mineral concessions cover approximately 167 hectares located on private land and are easily accessed by paved highway and all weather gravel roads.
The Rebeico Gold-Copper Project has had intermittent historical production since the 1930's, with most of the efforts concentrated on the one kilometer-long "Alaska" vein, where underground workings reached depths of up to 70 meters.
Sampling by YQ geologists and others demonstrates that portions of the Alaska vein and some outcrops of a breccia zone west of the vein are mineralized with gold, silver and copper at concentrations that justify extensive exploration work, including drilling.
Additional information on the Rebeico Gold-Copper Project can be found in the National Instrument 43-101 ("NI 43-101") technical report entitled "NI 43-101 Technical Report on the Rebeico Gold-Copper Project, Central Sonora, Mexico", by Steven I. Weiss Phd, C.P.G., of Mine Development Associates, dated April 25, 2018, which has been filed on SEDAR at www.sedar.com.
Technical aspects of this news release have been reviewed and approved by Steven I. Weiss Phd, C.P.G., a qualified person under NI 43-101.
For further information, please contact:
Ron Birch, Director
Ridgestone Mining Inc.
About the Company
Ridgestone is a TSX Venture Exchange -listed junior mineral exploration company with offices in Taipei and Vancouver, B.C. The Company's focus is on precious metals and copper in Sonora, Mexico, and specifically the Rebeico Gold-Copper project.
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.
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 the preparation of a definitive agreement and the requirement of TSX Venture Exchange approval therefor. 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 Prospectus dated February 9, 2018 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.
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