Ridgeline Minerals Corp. is excited to present a webinar on the Selena project on August 22, 2024, at 4:00 pm ET. Interested individuals can register for the webinar on the company’s website. All financial figures mentioned are in US dollars.
Based in Vancouver, British Columbia, Ridgeline Minerals Corp. has recently signed an earn-in agreement with a subsidiary of South32 Limited. This agreement allows South32 to acquire up to an 80% interest in Ridgeline’s Selena carbonate replacement deposit (CRD) project. The Selena project covers a 39 square kilometer land package located near Freeport-McMoRan’s Butte Valley copper porphyry project.
To obtain an initial 60% ownership interest in the Selena project, South32 must make an execution payment of US$100,000 and fund a minimum of US$10.0 million in exploration expenditures over a five-year period. If certain conditions are met, South32 can increase its ownership interest to 80% by incurring an additional US$10.0 million in expenditures.
Chad Peters, President, CEO, and Director of Ridgeline Minerals Corp., expressed enthusiasm about the partnership with South32. He believes that Selena presents a significant exploration opportunity in the base metal sector. The combined earn-in agreements with South32 and Nevada Gold Mines offer potential exploration expenditures of up to US$60 million across various projects.
The proposed work program for the first year includes a ground magnetotelluric geophysical survey and the drilling of a production water well at the Selena project. These activities aim to meet the minimum spending requirements outlined in the earn-in agreement.
Selena is a project located in White Pine County, Nevada, approximately 64 kilometers north of Ely, NV. The Selena project shares a boundary with Freeport-McMoRan’s Butte Valley project and has significant exploration potential. The technical information in this release has been verified by Michael T. Harp, CPG, Vice President of Exploration at Ridgeline Minerals Corp.
Ridgeline Minerals Corp. is a precious and base metal explorer with a strong management team and a diverse exploration portfolio in Nevada, USA. The company is committed to making a difference in the mining industry and improving the lives of people through resource development.
Please note that this release contains forward-looking statements and readers are advised to consider the risks and uncertainties associated with such statements. For further information, interested parties can contact Ridgeline Minerals Corp. at the provided contact details.
