Vior Announces Strategic Investment in Nevada Gold Explorer
TSX VENTURE: VIO
QUEBEC CITY, May 31, 2019 (GLOBE NEWSWIRE) -- 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.
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.
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President and CEO
SEDAR: Société d’exploration minière Vior inc.
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