Vior Provides Exploration Update on Its Strategic Investment in Nevada
QUEBEC, CANADA, November 11, 2019 – SOCIÉTÉ D’EXPLORATION MINIÈRE VIOR INC. (“Vior”), (TSX-Venture: VIO, FRANKFURT: VL51) – is pleased to provide an update on Ridgeline Minerals Corporation (Ridgeline) 2019 Nevada field program at its Carlin-East and Swift exploration projects. Vior holds an approximate 8.3% equity interest in privately held Ridgeline Minerals (a wholly owned Nevada subsidiary of Carlin-Type Holdings Ltd). Vior’s investment in Ridgeline provides Vior shareholders exposure to 25,000 acres of highly prospective ground across 3 exploration projects in the world-class Carlin and Cortez mining trends along with a proven management team. These two prolific trends are host to some of the largest gold mines and deposits in North America, with Nevada consistently ranked the No.1 gold mining jurisdiction globally. Vior holds a pre-emptive right to maintain its current equity interest in the next round of financing and to continue to participate in a significant way in this exciting new high potential gold exploration opportunity.
- Ridgeline confirms Lower Plate host rocks at Carlin-East with its first RC hole CE19-001 o Hole intersected anomalous Au-Ag and Carlin-Type pathfinders throughout
- Swift land deal in Q4 consolidates 49-square-km (12,000 acre) land package directly on trend of Nevada Gold Mines “Tier 1” Cortez/Goldrush Mining Complex o Untested Lower Plate targets exhibit significant exploration potential
Carlin-East is a 33-square-km core land position on the Carlin trend located directly adjacent to Nevada Gold Mines Carlin/Goldstrike Complex (29.9 Moz Au Reserves and Resources) (Figure 1.0). The primary ore controlling structures (Four Corners & Lynn Faults) bounding the LeevilleTurf mine extend onto the Carlin-East property and coincide with a kilometer-scale Au in soils anomaly centered over a pronounced gravity geophysics high.
Ridgeline’s primary focus for the 2019 program was to test its conceptual geologic model which predicted Lower Plate host rocks at depths of <1,000m. RC drill hole CE19-001 was completed on August 5, 2019 and successfully passed through the Roberts Mountain Thrust (RMT) and intersected the Rodeo Creek Formation (Drc) at 853m prior to abandoning the hole at 884m due to adverse drilling conditions. Anomalous Au-Ag and Carlin-Type pathfinder elements (As-Sb-HgPRESS RELEASE – 2 – Tl) were intersected over thick intercepts throughout the drill hole with silicification and sulfide mineralization steadily increasing downhole (Figure 2.0). A second RC hole (CE19-002) was collared 1,000m to the north of CE19-001 along the extension of the Leeville Structural Corridor but was lost at 384m due to poor drilling conditions encountered in the Four Corners fault zone. Anomalous Au-Ag and Carlin-Type pathfinder elements intersected prior to abandoning the hole exhibited higher values than those returned in CE19-001, suggesting the deeper hydrothermal system may be vectoring to the north along the Leeville Structural Corridor.
Figure 1.0: Plan view map of Carlin-East property adjacent to the Carlin/Goldstrike Complex
Figure 2.0: Schematic X-Section showing 2019 Ridgeline drill hole CE19-001 confirming Lower Plate geologic model at Carlin-East
Swift is a 49-square-km core land position located on the Cortez district of the Battle Mountain – Eureka trend approximately 10km northwest of Nevada Gold Mines, Cortez/Goldrush Complex (26.8 Moz. Au Reserves and Resources) (Figure 3.0). Historic exploration focused primarily on shallow oxide Au targets in Upper Plate rocks with excellent potential remaining within relatively untested Lower Plate host rocks at depth. The 2019 program focused on historic data compilation, land consolidation and geophysical surveys followed by a Phase I surface mapping and geochemical program in Q4 to further define potential targets. Surface geochemical assays are pending and will be integrated into Ridgeline’s 3D geologic model as they are received in preparation for a maiden drill campaign in 2020.