- Ridgestone Mining (TSXV:RMI) has reported the initial results from its maiden drill program at the Rebeico gold-copper project in Mexico
- The company is in the midst of conducting a 1,674 metre drilling program, with the reported results coming from the New Year mineralised zone on the property
- The first drill result returned 2.13 grams per tonne gold and 1.79 per cent copper result over a 16.25 metre long intersect
- Other drills returned results of 16 metres at 0.25 per cent copper and 10.9 metres at 0.19 per cent copper
- Ridgestone Mining (RMI) is up 15 per cent and is trading at C$0.225 per share
Ridgestone Mining (TSXV:RMI) has reported the initial results from its maiden drill program at the Rebeico gold-copper project in Mexico.
The company is in the midst of conducting a 1,674-metre drilling program, with the reported results coming from the site’s New Year mineralised zone on the property.
The program hopes to investigate the extent of mineralization already sampled on the surface of the property.
The first drill returned a 2.13 grams per tonne gold and 1.79 per cent copper result over a 16.25 metre long intersect. The strike ran from 3.05 metres downhole to 19.30 metres downhole, and included a 4.35 metre result that graded at 5.25 grams per tonne gold and 1.46 per cent copper.
Two other drill holes were collared 60 metres west and 120 metres south of this result and reportedly encountered significant near surface copper mineralization.
The company also intersected 16 metes of strike at 0.25 per cent copper from 1.6 metes down to 17.8 metres down, as well as 10.9 metres at 0.19 per cent copper from 1.8 metres down to 12.7 metres down.
Johnathon George, CEO of Ridgestone Mining said he was very pleased to see that all three of the holes drilled, thus far, had intersected multiple elevated copper results.
“A well, extensive intercepts with veinlets containing variable mixtures of pyrite, chalcopyrite, magnetite, chlorite, calcite and quartz, and the intercepts of hydrothermal breccia, taken together confirm we have penetrated a highly prospective copper and gold bearing mineral system,” he said.
Ridgestone Mining (RMI) is up 15 per cent and is trading at C$0.225 per share at 10:30 am EDT.
