Ridgeline Minerals Corp. (RDG:TSX.V; RDGMF:OTCQB) is a mineral exploration company focused on the discovery of gold and copper deposits in the United States.
Ridgeline is dedicated to exploring and developing mineral resources using advanced geological and geochemical techniques. The company focuses on identifying high-potential targets within mining-friendly jurisdictions and applying modern exploration methods to make new discoveries.
Expert Opinions
The company is followed by a few newsletter writers who have all shared positive reviews of the company.
At the start of the year, Gwen Preston of The Maven Letter wrote about Ridgeline in light of high-grade drilling results at the Chinchilla zone at its Selena project.
Preston of The Maven Letter wrote. "Before this drill effort, Chinchilla was interesting. It had good but not great grades, and the geologic understanding was still early. These holes change all of that."
Ridgeline Minerals discovered the Selena property in 2020, which is a shallow-oxide deposit containing silver, gold, lead, and zinc. The property hosts a Carbonate Replacement Deposit (CRD) with the potential for open-pit mining of silver and gold at Chinchilla, Juniper, Revival, and Broken Egg.
Additionally, the CRD Zone offers the potential for high-grade mineralization at greater depths. The Selena project is situated in the historic Limousine Butte district of the south Carlin-Trend in Nevada and encompasses 467 contiguous federal lode claims spanning 39 square kilometers. The surrounding area has a history of both historical and active mines, including Bald Mountain, Alligator Ridge, Yankee, Illipah, and Golden Butte deposits.
"These holes are very important," Preston wrote. "Before this drill effort, Chinchilla was interesting. It had good but not great grades, and the geologic understanding (how mineralization relates to structures and rock types and, therefore, what additional opportunity remained to be found) was still early. These holes change all of that."
She went on to say, "To be very forward-looking: with these holes, odds have increased that Chinchilla hosts mineralization of the kind of scale and grade to be very worth mining in a massive underground operation. If that indeed pans out, Selena would be a very, very valuable asset."
One hole cut mineralization in the relatively flat limestone layer, leading the company to believe that the hit's proximity to what it believes is a feeder fault at another hole suggests strongly it is part of a "high-grade chimney horizon."
Confirming the feeder fault encourages Ridgeline Minerals to drill deeper to test a layer dolomite layer. "No one has drilled into the dolomite anywhere (at) Selena," she wrote. "If it's mineralized, the scale potential here jumps dramatically."
Brien Lundin of The Gold Newsletter wrote, "While Ridgeline has a number of splashy, high-potential projects in its Nevada portfolio, Selena has developed into perhaps the company's most important and valuable property."
Brien Lundin of The Gold Newsletter also shared his optimism about the stock in a February newsletter, saying, "While Ridgeline has a number of splashy, high-potential projects in its Nevada portfolio, Selena has developed into perhaps the company's most important and valuable property. Upcoming permitting approvals should allow for much more aggressive exploration of new zones and targets this year, so we're moving Ridgeline back to a Buy.
Lastly, Technical Analyst Clive Maund recently provided an update on the company at the end of May. While the price reacted back in a tight downtrend, it has been "advancing on strong volume but reacting back on light volume, which is definitely bullish," he wrote. "It won't take much buying to get it moving higher again."
Maund ended his newsletter by noting, "The conclusion is that Ridgeline Minerals is at a good entry point now with limited downside and big upside potential from here, and it is rated a Speculative Buy for all timeframes."
Projects
Ridgeline's other flagship project is Swift. Swift is an exploration project focused on Carlin-Type gold deposits situated in Lander County, Nevada. It is located within the highly productive Cortez district of the Battle Mountain-Eureka Trend. The project consists of 785 BLM claims covering 14,651 acres, along with 3,697 acres of private fee ground, resulting in a total area of 18,348 acres or 75 square kilometers. Notably, it is positioned adjacent to the historically significant Elder Creek open-pit mine.
Technical Analyst Clive Maund recently provided an update on the company.While the price reacted back in a tight downtrend, it has been "advancing on strong volume but reacting back on light volume, which is definitely bullish," he wrote. "It won't take much buying to get it moving higher again."
Swift benefits from its proximity to several significant gold mines, including the Pipeline, Cortez Hills, Fourmile, and Goldrush deposits, which have collectively produced millions of ounces of gold. These mines are situated downstream along the Cortez Structural Corridor, indicating the potential for substantial mineralization in the area.
On Sept. 22, 2021, Ridgeline Minerals announced a transaction with Nevada Gold Mines LLC (NGM), a joint venture between Barrick Gold Corp. and Newmont Corp. According to the agreement, NGM has the option to invest a minimum of US$20 million (with a guaranteed sum of US$4 million) in qualifying work expenditures over an initial five-year term to earn an initial 60% interest in the Swift project. Furthermore, NGM retains additional options to increase its stake to a total interest of 75%.
The company also has four pipeline projects: Bell Creek, Carlin-East, Robber Gulch, and Big Blue.
Two Catalysts
On the first of this month, Ridgeline released its 2023 exploration program and corporate strategy. You can view the full release here.
This release showcased its portfolio of six projects in Nevada and Idaho, encompassing 192 square kilometers. In this update, the company noted it intends to spend CA$2 million on direct drilling and exploration.
"We anticipate multiple catalysts across the Ridgeline portfolio this year," Vice President of Exploration Mike Harp said.
Streetwise Ownership Overview*
Ridgeline Minerals Corp. (RDG:TSX.V; RDGMF:OTCQB)
The company will finish its proposed five-hole, 3,000-meter drilling program at its Selena Project, which is scheduled to start in early July. This drilling will target high-grade silver, gold, lead, and zinc mineralization at two known "chimney" targets at the Chinchilla zone. Also, Nevada Gold Mines will begin the next phase of framework drilling at Ridgeline's Swift project in early Q3 of this year.
Ownership and Share Structure
About 10% of Ridgeline Minerals is held by insiders, according to the company. Holders include President and Chief Executive Officer Chad Peters with 4.2%, Chief Financial Officer and Director Duane Lo with 0.93%, and VP Harp with 0.41%, Reuters said.
According to Yahoo Finance, about 5% of the company is institutional and held by Commodity Capital AG, and about 85% is retail.
Ridgeline Minerals has a market cap of CA$14.72 million with about 91 million shares outstanding, and 85 million free-floating. It trades in a 52-week range of CA$0.385 and CA$0.19.
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