Mining Stock Daily Exploration Update from Ridgeline Minerals includes $5M Approved Drilling Budget for Swift
Jul 30, 2025
Chad Peters, CEO of Ridgeline Minerals, shares exciting developments in their Nevada exploration projects, particularly the Swift Project. The newly approved $5 million budget sets the stage for ambitious drilling aimed at uncovering significant gold deposits. Peters discusses the strategic placement of drill holes based on promising previous results. He also explores other projects like Mill Creek and Atlas Gold, highlighting their potential and ongoing efforts. The enthusiasm for high-grade mineral discoveries is palpable as Ridgeline advances its exploration endeavors.
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High-Stakes Drilling at Swift
- Nevada Gold Mines (NGM) approved a $5 million US drilling program at Swift to chase both high-grade and low-grade gold mineralization.
- Success depends on intersecting the right host rocks and structures for potential grade increases, which would transform the project.
Costly Deep Drilling Explained
- The program targets Southwest Swift and Mill Creek corridors with deep, costly drill holes up to 1000 meters.
- Each drill hole costs around $700,000 plus land fees, explaining the $5 million budget for five holes.
Swift's Strategic Location and Priority
- The Swift project is highly strategic, located within 4km of a 20 million-ounce mine in production.
- Nevada Gold Mines considers Swift a high priority and plans at least $20 million spend by end 2026 to advance their earn-in.