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Riverstone Resources Inc. (TSX VENTURE:RVS - News; FRANKFURT:3RV - News) is pleased to report
further results from the on-going diamond drill program on the Company's Nami Artisanal gold prospect in Burkina Faso, West
Africa. Results include an intercept of 14 metres
of 1.92 g/t gold which included 4 metres of 5.91
g/t gold in Hole RADD 10-40. The holes were drilled on north-south fences to
test an interpreted westerly-trending mineralized zone which traverses the
middle of the artisanal site (to see map please click on: www.riverstoneresources.com/i/maps/110117NR-100922_NamiDrill_LtrLand.jpg).
The results from the holes support the interpreted geologic model and are
considered to be very encouraging.
Interval (m) Intercept Gold Grade Average
Hole number From To (metres) (g/t Au) Recovery
RADD-10-35 22 38 16 0.88 79%
incl 29.6 36 6.4 1.61 51%
RADD-10-36 13 36 23 0.91 37%
and 48 62 14 0.95 90%
incl 56 60 4 2.37 94%
RADD-10-37 74 120 46 0.60 98%
incl 100 112 12 1.29 98%
and 144 146 2 2.27 100%
RADD-10-38 32 36 4 2.41 83%
and 56 58 2 1.10 58%
and 104 114 10 0.92 100%
RADD-10-39 94 116 22 0.77 100%
incl 104 112 8 1.05 100%
RADD-10-40 84 86 2 2.73 100%
and 128 142 14 1.92 100%
incl 132 136 4 5.91 100%
Several of the holes reported low
recoveries in the mineralized zones due to voids. These voids are interpreted
to be due to artisanal workings of gold-bearing zones.
"The Nami
deposit continues to return solid assay results over a large area,"
commented M.D. McInnis, President and CEO of Riverstone.
"We are encouraged that we can trace the mineralized zone from section
to section and that it remains open in all directions."
The Nami Zone
is part of the Company's Karma project, which 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 in the Rambo Main, Kao, Goulagou I and Goulagou II
deposits. The Nami Zone lies in close proximity to
the Rambo gold deposit, and any resource developed at Nami
will be accretive to the overall Karma project.
Riverstone maintains a quality control program
involving the use of repeat assays, inserted blanks and the use of certified
standards from an accredited Canadian laboratory. All rock samples were
assayed using standard fire assay with atomic absorption techniques, with
samples grading over two grams gold per tonne
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 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
Raju Wani
Riverstone Resources Inc.
Investor Relations
403-240-0555 |
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