Riverstone Resources Inc. (the "Company") (RVS: TSX V) is pleased to report results from the final thirteen holes of the recently completed Reverse Circulation ("RC") drilling program on the Kao Exploration Permit in Burkina Faso, West Africa. Nine of the thirteen drill holes returned significant gold values over considerable widths, adding to the positive results already reported from six of the first seven drill holes (see News Release dated Apr 04, 2007). The RC drill results indicate the presence of a very large gold-bearing system that is open in all directions.
The most recent drill results confirm the presence of multiple, parallel high-grade gold zones within a broad lower-grade envelope. These gold zones were discovered during two Rotary Air Blast ("RAB") drilling programs conducted by the Company in August and October of 2006 and appear to have strike lengths ranging from 200 to 500 metres. The lower grade envelope has a minimum width of 350 metres and has been traced over a strike length of at least 1,100 metres. It is part of a larger gold-in-soils geochemical anomaly, which has a minimum strike length of four kilometres.
Significant assay results are presented in the table below. Intervals reported are drilled widths, which may not represent true widths of the mineralized zones.
HOLE NO. |
FROM (metres) |
TO (metres) |
CORE INTERVAL (metres) |
GRADE (g/t) |
KAO-07-RC-008 |
10 |
12 |
2 |
21.46 |
KAO-07-RC-009 |
50 |
70 |
20 |
0.55 |
KAO-07-RC-012 |
0 |
138 |
138 |
0.50 |
including |
56 |
66 |
10 |
3.55 |
and including |
96 |
98 |
2 |
1.11 |
and including |
126 |
132 |
6 |
1.05 |
KAO-07-RC-013 |
14 |
16 |
2 |
1.13 |
KAO-07-RC-014 |
30 |
32 |
2 |
2.83 |
and |
54 |
66 |
12 |
1.03 |
or |
60 |
66 |
6 |
1.53 |
and |
78 |
80 |
2 |
1.90 |
KAO-07-RC-016 |
32 |
40 |
8 |
2.20 |
KAO-07-RC-017 |
16 |
18 |
2 |
1.01 |
and |
60 |
64 |
4 |
6.77 |
KAO-07-RC-019 |
48 |
56 |
8 |
1.07 |
and |
116 |
118 |
2 |
1.18 |
KAO-07-RC-020 |
58 |
60 |
2 |
1.28 |
The last thirteen RC drill holes were drilled on lines 200 metres south and 200 metres north of the first seven. (see attached figure). KAO-07-RC-020 was drilled 900 metres to the north of the first seven holes to test a geophysical anomaly. All holes were angled to undercut gold values identified in the RAB drilling. The RC drilling has confirmed that the near-surface gold zones outlined in the RAB drilling continue to depth, and that gold values are present within a silicified diorite. Most drill holes intersected between one and four zones of significant gold mineralization over drilled widths of up to 34 meters. The entire lengths of many of the holes are anomalous in gold.
This wide-spaced RC drill program confirms that the gold-bearing zones are present over a strike length of at least 1100 meters. Drill hole KAO-07-RC-019 undercut a new parallel target to the west, containing two separate gold bearing intervals. Geophysical surveys completed by the Company in December of 2006 indicate the presence of a 600 metre long conductor underlying the area tested by hole 019.
"We are encouraged by the fact that these higher grade zones are parallel, rather than en-echelon, which enhances the potential economics of a bulk mineable deposit", commented M.D. McInnis, President of Riverstone Resources. "In addition, all of the surrounding rock contains anomalous gold, which further enhances the project".
The Kao RC program totaled 2,168 metres in 20 drill holes. The company is in the midst of aggressive exploration programs on seven of its 13 properties in Burkina Faso. Mapping, sampling and approximately 9,000 metres of RAB and 1,800 metres of RC drilling are underway on properties in the Bissa area. The company expects to be releasing results from these programs over the next four to six weeks.
The Company maintains a rigorous quality control program involving the use of repeat assays, check assays at independent labs, and the use of verifiable blanks and standards from an accredited Canadian lab. All RC samples were assayed using standard fire assay with atomic absorption techniques, at the independent Abilab Burkina SARL laboratories in Ouagadougou, Burkina Faso, which is part of the ALS Chemex group.
For further information about the Company and its activities in Burkina Faso, please refer to the Company's website at www.riverstoneresources.com and on www.sedar.com.
ON BEHALF OF THE BOARD
"Michael D. McInnis"
______________________________________
Michael D. McInnis, P.Eng.,, CEO & President
For further information contact:
Michael D. McInnis, President T: 604.801.5020 Raju Wani, Investor Relations T: 1-403-240-0555
Email: info@riverstoneresources.com Email: info@riverstoneresources.com
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.
Associated File:
http://www.riverstoneresources.com/i/pdf/KAO070416.pdf
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