Riverstone Drilling Defines Gold Mineralized Trend
January 5, 2010
Riverstone Resources Inc. (TSXV: RVS, Frankfurt: 3RV) is pleased to announce results from the Reverse Circulation (RC) drill program recently completed on the Company's Karma gold project in Burkina Faso, West Africa. The drilling was designed to test new areas of gold mineralization north of the defined Kao resource. The RC drill program was successful in delineating a new, northeast trending gold mineralized zone starting 500m north of the Kao deposit, which may be a continuation of the main deposit or a separate mineralized zone (See map here). In addition, two twinned holes drilled for metallurgical test work in the centre of the Kao deposit returned gold grades significantly higher than the original assays. Drill hole RVS- KAO-09-184 returned 0.99 g/t gold over 80m, including 3.38 g/t gold over 20m versus an assay of 1.77 g/t gold over 26m, including 2.35 g/t gold over 18m in the original KRC-07-063 (see news release dated Nov 15, 2007). Likewise, new twin RVS- KAO-09-185 returned 0.94 g/t gold over 80m versus the original KRC-07-032 of 1.18 g/t gold over 48m, including 2.53 g/t gold over 6m (see news release dated Sept 12, 2007). Significant RC drill assays are presented in the following table:
Hole Number |
Target |
From (metres) |
To (metres) |
Hole Interval (metres) |
Grade (g/t Au) |
RVS-KAO-09-RC-174 including |
Kao Main |
22 34 |
40 40 |
18 6 |
0.32 0.48 |
RVS-KAO-09-RC-176 |
Kao Main |
18 |
30 |
12 |
0.23 |
RVS-KAO-09-RC-177 |
Kao Main |
80 |
88 |
8 |
0.37 |
RVS-KAO-09-RC-178 including including |
Kao Main |
0 20 30 |
100 36 36 |
100 16 6 |
0.12 0.39 0.54 |
RVS-KAO-09-RC-179 |
Kao Main |
64 |
74 |
10 |
0.31 |
RVS-KAO-09-RC-181 |
Kao Main |
42 |
46 |
4 |
0.44 |
RVS-KAO-09-RC-182 including |
Kao Main |
0 26 |
74 36 |
74 10 |
0.12 0.51 |
RVS-KAO-09-RC-184 including |
Kao Main |
0 50 |
80 70 |
80 20 |
0.99 3.38 |
RVS-KAO-09-RC-185 including |
Kao Main |
0 22 |
80 52 |
80 30 |
0.94 1.73 |
RVS-KAO-09-RC-186 including and including |
Kao Main |
2 22 52 |
100 30 60 |
98 8 8 |
0.22 0.76 0.63 |
RVS-KAO-09-RC-190 |
Kao Anomaly C |
42 |
52 |
10 |
0.27 |
RVS-KAO-09-RC-192 |
Kao Anomaly C |
14 |
16 |
2 |
1.25 |
RVS-KAO-09-RC-193 including and including |
Kao Anomaly B |
0 8 68 |
100 28 74 |
100 20 6 |
0.14 0.27 0.59 |
"The Kao Main gold deposit shows strong structural control from the intersection of regional northeast and northwest structures" commented Michael D. McInnis, President and CEO of Riverstone. "We have now identified a gold bearing northeast trending structure that begins 500m north of Kao Main, and further work is required to identify an intersecting northwest structure". A preliminary evaluation of a new artisanal site on the Company's Karma property was also completed. Artisanal mining commenced on this site in May 2009 and activity has increased substantially since then. The footprint of the artisanal workings is currently approximately 800m in length and 200m in width. Fifty-one rock samples were collected by the Company throughout the footprint of the workings. Assays are pending. The Karma project is comprised of four separate gold deposits containing a NI43-101 compliant global total of 820,500 ounces of gold in the indicated category, and 320,300 ounces of gold in the inferred category. The deposits are all open for further resource expansion, and are spatially close together, allowing them all to feed a potential central milling complex. Click here to view latest Karma Gold Project Overview Map The Company maintains a rigorous quality control program involving the use of repeat assays, inserted blanks, and the use of certified standards from an accredited Canadian laboratory. All RC samples were assayed using standard fire assay with atomic absorption techniques, with samples grading in excess of 2.00 g/t gold re-assayed with a gravimetric finish, at the independent Abilab Burkina SARL laboratories in Ouagadougou, Burkina Faso, which is part of the ALS Chemex group.
Riverstone Resources Inc. is active in gold exploration in Burkina Faso, West Africa, where the company holds an extensive portfolio of high quality exploration permits covering 2,300 square kilometres. For further information about the company and its activities, please refer to the Company's website at www.riverstoneresources.com and under the Company's profile at www.sedar.com.
"Michael D. McInnis"______________________________________ Michael D. McInnis, P.Eng., President & CEO
For further information contact:
Vancouver Office: Michael D. McInnis, President Phone: 604.801.5020 Email: info@riverstoneresources.com |
Raju Wani, Investor Relations Phone: 403.240.0555 Ron Cooper, Investor Relations Phone: 604.986.0112 |
The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.
Paul G. Anderson, P. Geo is a Qualified Person for RVS and has reviewed and approved the contents of this release.
Certain statements made and information contained in this news release and elsewhere constitutes "forward-looking information" within the meaning of the Ontario Securities Act. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters and surface access, labour disputes, the potential for delays in exploration activities, the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, failure to obtain adequate financing on a timely basis and other risks and uncertainties, including those described under Risk Factors in each management discussion and analysis. In addition, forward-looking information is based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long term price of gold, that the Company will receive required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour and that the political environment within Burkina Faso will continue to support the development of environmentally safe mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements.
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