Vior Announces Strategic Investment in Nevada Gold Explorer
31 Mai 2019 - 3:59PM
SOCIÉTÉ D’EXPLORATION MINIÈRE VIOR INC.
("Vior"), (TSX-Venture: VIO, FRANKFURT:
VL51) – is pleased to announce a strategic investment in
Carlin-Type Holdings Ltd (‘’CTH’’). This is an arm’s length
transaction. CTH is a private “Corporation”, incorporated under the
Business Corporations Act (British Columbia) whose wholly owned
Nevada subsidiary Ridgeline Minerals Corporation (Ridgeline), holds
the option to acquire a 100% interest in three highly prospective
Carlin-Type gold exploration projects in the world-class Carlin and
Battle Mountain Eureka Trends of Nevada.
Vior has invested $210,600 in the initial seed
round of financing, providing it with an equity interest of
approximately 8.3% in CTH. Vior has also been granted a pre-emptive
right to participate on a pro-rata basis in CTH’s next equity
private placement financing.
Ridgeline’s highly prospective Carlin-East
(1,700 hectares), Swift (2,792 hectares) and Selena (2,590
hectares) projects (Figure 1) represent a unique opportunity to
make a new discovery in proven mining districts within the No.1
ranked mining jurisdiction in the world.
Ridgeline will further increase the odds of
discovery by leveraging its strategic partnership’s with EMX
Royalty Corp. and Envirotech Drilling LLC to significantly reduce
overhead and direct drilling costs, ensuring exploration dollars
are going in the ground during the early phase of the exploration
cycle.
Carlin-East is a 17-square kilometer
underexplored core land position in the Carlin Trend that is on
trend with Newmont’s multi-million ounce Leeville-Turf gold mine
and next to Barrick’s Goldstrike (50+ Moz. Au, past production and
reserve) complex. The primary ore controlling structures of the
Leeville-Turf mine extend onto the Carlin-East property and
coincide with a pronounced gravity geophysics high. A conceptual
Carlin-Type exploration target has been defined within this
structural corridor and Ridgeline is in the process of completing
additional geophysics, sampling, mapping, and historic data review
before an initial drill program on this high priority target in the
summer of 2019.
Swift is a 28-square kilometer core land
position on the Battle Mountain-Eureka trend. The property is
directly on trend with the Cortez district which includes the
prolific multi-million ounce gold mines; Pipeline, Cortez Hills and
Goldrush. The property exhibits altered upper plate rocks with
anomalous gold mineralization as well as Carlin-Type pathfinder
elements. Historic drilling did not test the highly prospective
Goat anticline target but did define a reasonable depth to Lower
Plate stratigraphy of 580 to 670 meters and yielded multiple
intervals with highly anomalous Carlin-Type Au mineralization.
Selena is a 25.9-square kilometer early stage
Carlin-Type Au exploration project located within the proposed
extension of the South-Carlin Trend. The property lies at the
southern end of the Cherry Creek Range to the east of Kinross
Gold’s Bald Mountain and Alligator Ridge mines (4.5+ Moz. Au,
reserve and resource) and directly south of McEwen Mining’s Golden
Butte and Resurrection Ridge projects. Ridgeline will focus on a
newly identified Oxide Au structural target that has been
highlighted by multiple EMX Royalty Corp. grab samples collected
across this zone that averaged 1.09 g/t Au (n=16), with a high of
6.02 g/t Au. The structural target is untested by drilling and
appears to widen as it cuts up-section and continues under shallow
cover to the West where it is projected to intersect the Pilot
Shale, a regionally important host to gold mineralization.
“We are excited and privileged to be a part of
this exciting new Nevada exploration company. Ridgeline is well
capitalized following the close of their $1,500,000 CAD private
placement in May 2019 and is ready to execute on their 2019
exploration programs. Chad Peters, B.Sc., P.Geo. (President &
CEO) and Mike Harp, M.Sc., P.Geo (Senior Exploration Geologist)
bring an outstanding exploration track record to the Ridgeline team
in their quest for the next great Nevada discovery. This investment
will also provide Vior with the opportunity to capitalize on
Ridgeline’s outstanding technical skills and Nevada know-how. We
look forward to working closely with the Ridgeline team!”, stated
Mark Fedosiewich, Vior’s President and CEO.
The technical content disclosed in this press
release was reviewed and approved by Mr. Marc L'Heureux, P.Geo.,
who is the Company's Qualified Person as per NI 43-101.
About Vior
Vior is a junior mining exploration company
based in Quebec whose corporate strategy is to generate, explore,
and develop high quality projects in proven and favourable mining
jurisdictions in North America. Through the years, Vior’s
management and technical team have demonstrated their ability to
discover several gold deposits and many high-quality mineral
prospects.
For further information, please
contact: |
|
|
Mark FedosiewichPresident and CEOTel.:
613-898-5052mfedosiewich@vior.ca |
Marc L’HeureuxVice-president, ExplorationTel.:
450-646-1790mlheureux@vior.ca |
Website: www.vior.ca SEDAR: Société
d’exploration minière Vior inc.
Neither the 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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/d3a7fc96-7788-45cf-9c90-006ea8d14a4a
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