|
Riverstone
Resources Inc. (TSX VENTURE:RVS - News; FRANKFURT:3RV - News) is pleased to announce
that additional results from the Reverse Circulation ("RC")
drilling at the Kao gold deposit in Burkina Faso, West Africa, has extended
the gold bearing zone further along strike and at depth (See map: http://www.riverstoneresources.com/i/maps/101213-091112_Kao_Cartoon.jpg).
The deposit remains open to the north, to the east-northeast and at depth to
the east along the shallowly plunging mineralized zone. The Kao deposit is
one of four that collectively comprise the Company's advanced stage Karma
gold project.
Significant
results were received from the holes drilled at depth to the east, which were
designed to intersect the down-dip extension of the mineralized zone at a
vertical depth of 100 metres below surface. Drill
hole RC-207 intersected 0.77 g/t gold over 44 metres,
including 0.96 g/t gold over 28 metres. Drill hole
RC-208 to the south intercepted two zones grading 1.24 g/t gold over 12 metres and 1.08 g/t gold over 6 metres
respectively. The Kao deposit is an approximately 40 metre
thick tabular zone which dips 25 degrees to the east. The shallow dip
potentially means that the deposit could be traced at greater depths than
presently outlined and still be amenable to open pit mining.
On
the north-eastern edge of the deposit, drill hole RC-206 intersected 1.30 g/t
gold over 26 metres, including 2.39 g/t gold over
10 metres. The deposit is open to the northeast and
to the east beyond this intercept, and it also remains open to the north,
based on previously reported results (see News Release dated Dec 6, 2010).
The
RC drilling at Kao which commenced in October totalled
3,346 metres, mainly on a series of fences to the
north and northeast of the current NI 43-101 compliant gold resource. The
majority of the results from this program were reported in a news release
dated Dec 6, 2010, and significant intercepts from the balance of the holes
are reported in the table below:
Interval (m)
Intercept Gold
Grade
Hole number
From
To
(metres) (g/t Au)
---------------------------------------------------------------------
KAO-10-RC-206
108
114
6
1.718
and
122
148
26
1.302
including
132
142
10
2.386
KAO-10-RC-207
38
46
8
0.442
and
78
82
4
0.500
and
88
132
44 0.765
including
100
128
28
0.960
KAO-10-RC-208
38
42
4
0.697
and
64
76
12
1.236
and
96
122
26
0.601
including
108
114
6
1.076
KAO-10-RC-210 48
58
10
0.532
KAO-10-RC-214
16
20
4
0.704
and
72
80
8 0.578
and
118
120
2
0.656
The
drilling on Kao is part of a 25,000 metre drill
program on Karma, which commenced in October and will continue until March
2011. The program consists of at least 15,000 metres
of Reverse Circulation (RC) and 10,000 metres of
diamond drilling. In addition to the RC drilling on Kao, RC drilling will be
carried out on Goulagou I in an effort to expand
the strike length of the mineralized zone. 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 that a new resource estimate will be
completed in Jan 2011. 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
|
|