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Riverstone
Resources Inc. (TSX VENTURE:RVS - News; FRANKFURT:3RV - News) is pleased to announce
that ongoing Reverse Circulation ("RC") drilling at the Kao gold
deposit in Burkina Faso, West Africa, has extended the gold bearing zone over
100 metres to the northeast (To see a map of the
area please go to http://www.riverstoneresources.com/i/maps/101202-091112_Kao_Cartoon.jpg).
The deposit still remains open in this direction towards a series of
widely-spaced gold intercepts approximately 500 metres
away that were drilled in 2009. The Kao deposit is one of four that
collectively comprise the Company's advanced stage Karma gold project.
The
recent RC drilling at Kao tested the zone on a series of fences to the north
and northeast of the current NI 43-101 compliant gold resource, which covers
an area approximately 800 metres by 400 metres. Several holes were also drilled to the southwest,
down dip to the east below the level of oxidation, and on several nearby
regional targets. Twenty six holes were drilled, totalling
3,346 metres. This release reports on the results
of the first 12 holes. Significant intercepts are reported in the table
below:
Interval
(m)
------------
Hole number
From To Intercept(metres) Average(g/t Au)
---------------------------------------------------------------------------
KAO-10-RC-194
16 64
48
0.59
including
40 55
15
1.05
and
76 78
2 1.16
KAO-10-RC-195
20 38
18
0.53
including
24 32
8
0.82
and 50 54
4
1.35
KAO-10-RC-196
24 28
4
0.81
and
40 42 2
0.57
and
72 84
12
0.74
including
72 76
4
1.69
and
94 108
14
0.88
KAO-10-RC-197
64 66
2
0.48
and
74 76
2
1.21
and
82 100
18
0.86
including
88 96
8
1.51
KAO-10-RC-198
60 62
2
0.68
and
88 90
2
0.87
and
100 106
6
0.51
and
130 134
4
0.87
KAO-10-RC-199
28 30
2
0.63
and
74 76
2
1.26
and
96 98
2
0.72
and
104 106
2
0.52
and
130 146
16
1.08
KAO-10-RC-200
22 24
2
0.56
and
142 150
8
1.28
Ended in Mineralization
KAO-10-RC-201
108 116
8
0.49
KAO-10-RC-202
16 18
2
0.64
and
60 62
2
2.57
and
76 86
10
0.77
and
92 96
4
0.85
and
106 108
2
0.46
KAO-10-RC-204
26 28
2
0.82
and
84 88
4
0.43
KAO-10-RC-205
100 110
10
0.64
The
Company has recently begun a 25,000 metre drill
program on Karma which will consist of at least 15,000 metres
of Reverse Circulation (RC) and 10,000 metres of
diamond drilling.
The
bulk of the RC drilling will be infill lines at Goulagou
I in an effort to both expand the resource and to move it into the Indicated
category. Drilling completed in August of 2010 demonstrated that the Goulagou I deposit has grown to in excess of 1.7 kilometres long and reaches a width of at least 300 metres over the western 900 metres
of the zone. The zone remains open to the west and to depth. The Goulagou property is subject to an Option to Purchase
agreement with Golden Star Resources Ltd.
The
majority of the diamond drilling will be carried out at the Company's Nami gold zone where artisanal miners are actively
working an area of approximately one kilometer by 500 metres.
The
Company is currently updating the gold resource estimate on the Kao gold
deposit and on the other three deposits, Goulagou
I, Goulagou II and Rambo Main, which comprise the
Karma resource, and anticipates completing a new resource estimate by the end
of this year. The Karma project currently comprises a NI 43-101 compliant
gold resource of 820,500 ounces of gold in the indicated category and 322,300
ounces of gold in the inferred category.
Riverstone
Resources Inc. is active in gold exploration in Burkina Faso, West Africa,
where the company holds an extensive portfolio of six high quality
exploration projects 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.
ON
BEHALF OF THE BOARD
Michael
D. McInnis, P. Eng., President & CEO
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.
Neither
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.
Contact:
Michael D. McInnis
Riverstone Resources Inc. - Vancouver Office
President
604-801-5020
info@riverstoneresources.com
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