Riverstone Resources Inc.: RAB Program Reveals Widespread Near-Surface Gold Mineralization at Northern Karma; Results Confirm Six Drill-Ready Targets Proximal to Proposed Processing Facility
Published : January 29, 2013
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 29, 2013) - Riverstone Resources Inc. (News - Market indicators)(OTCQX:RVREF)(FRANKFURT:3RV) ("Riverstone" or the "Company") reports that initial rotary air blast ("RAB") drilling over a 180-square-kilometre area north of the Karma Gold Project ("Karma Project") has intersected extensive near-surface oxide gold mineralization, highlighted by 2.15 grams per tonne gold (g/t Au) over 30.0 metres in hole RAB-414.

The RAB program confirms six distinct areas of anomalous gold mineralization, and demonstrates that oxide surface mineralization extends to depths of at least 39 metres and remains open in all directions. Riverstone will conduct an aggressive reverse circulation ("RC") drill program in 2013 to follow up on these encouraging results.

"We are very excited that the first meaningful exploration program in the northern portion of Karma has confirmed six drill-ready targets," said Dwayne Melrose, President and CEO, Riverstone Resources. "These RAB results indicate strong potential for additional gold mineralization over a wide area, and reinforce our belief that we can add near-surface oxide resources within potential trucking distance of our proposed Karma Project processing facility."

Significant assay intervals from these RAB holes include:

  • 2.15 g/t Au over 30.0 m in RAB-414
  • 79.10 g/t Au over 3.0 m in RAB-004
  • 0.89 g/t Au over 24.0 m in RAB-316
  • 2.27 g/t Au over 3.0 m in RAB-020
  • 1.00 g/t Au over 6.0 m in RAB-282
  • 0.55 g/t Au over 19.0 m in RAB-283

Riverstone conducted RAB drilling in the north Karma area up to 28 kilometres from the proposed Karma Project processing facility. The program consisted of 11,039 metres of RAB drilling in 449 vertical holes (drilled to an average depth of 30 metres) at sites selected based on historical workings and anomalous geochemical sampling. Riverstone has previously conducted limited mapping and rock-sampling programs in the north Karma area since 2008, as until recently, the major focus of Riverstone's Karma work was further south.

"Blue Gold merged with Riverstone based on the Karma Project's near-term production profile and our firm belief that Karma holds tremendous potential for further near-surface resource growth," said Mark O'Dea, Riverstone Executive Chair and former Chair and CEO of Blue Gold. "These results support our view, and will help us design an effective exploration program for 2013."

The Karma Project consists of five nearby deposits and a proposed central heap-leach processing facility. The project is undergoing a definitive feasibility study, based on a 1.03 million ounce, in-pit indicated leachable resource averaging 0.94 g/t Au (34.2 million tonnes)1. The feasibility study and 2013 exploration plans for high-priority targets, such as north Karma, are fully funded.

(See map on the Riverstone Website for the location of highlighted RAB holes, or click on this link: http://riverstoneresources.com/i/maps/130128-121010_Rounga_Port-Plan.jpg).

(For a table of highlighted RAB results related to gold mineralization, please click on this link: http://riverstoneresources.com/i/pdf/RAB-Result-Highlights-for-130129-NR-Summary.pdf).

Ian Cunningham-Dunlop, P.Eng., Senior Vice President Exploration, is the Company's designated Qualified Person for this news release within the meaning of NI 43-101, and has reviewed and verified that the information contained in this release is accurate and approves of the written disclosure of same. The nature and spacing of the RAB drilling to date does not allow for the exact orientation of the gold zones to be determined, and their true widths are unknown. As a result, there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource. Samples were assayed by BIGS Global Laboratories in Ouagadougou, Burkina Faso, with a limited number of check assays by ALS Chemex, also in Ouagadougou, Burkina Faso. BIGS Global assays were by Fire Assay of a 30 gram (1 assay ton) charge with AAS finish. ALS Chemex assays were also Fire Assay with AAS finish and repeats of all AAS assays over 1.0 g/t by Fire Assay with gravimetric finish. Control samples (accredited standards, blanks and duplicate samples at the rig and preparation stage) were inserted on a regular basis every ten samples. Results were monitored on receipt of assays.

About Riverstone

Riverstone Resources Inc. is a growth-oriented gold exploration and development company offering near-term production at the Company's flagship Karma Project in Burkina Faso, West Africa. The Company's board, management and technical teams have proven track records in the capital markets and gold exploration, development, operations and production worldwide.

Additional information about the Company and its activities may be found on the Company's website at www.riverstoneresources.com and under the Company's profile at www.sedar.com.


Dwayne Melrose, President and CEO

Certain statements made and information contained in this news release and elsewhere constitutes "forward-looking information" within the meaning of Canadian securities legislation. Such forward-looking statements are based on certain assumptions and are subject to risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, with respect to statements regarding the potential increase to mineral resources, the assumptions set forth in this news release and in the Company's news release of October 3, 2012 and 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, risk of undiscovered, title defects and surface access, labour disputes, the potential for delays in exploration and permitting activities, the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, political risk and other risks and uncertainties, including those described under Risk Factors in each management discussion and analysis and in the Company's annual information form which are available under the Company's profile at www.sedar.com. 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.

This news release may use the terms "measured", "indicated" and "inferred" as these terms are defined under Canada's National Instrument 43-101. U.S. Investors are advised that, while such terms are recognized and required by Canadian regulations, they are not recognized by the United States Securities and Exchange Commission ("SEC") and may not be comparable to similar information for United States mining or exploration companies. As such, certain information contained on this news release concerning descriptions of mineralization and resources under Canadian standards is not comparable to similar information made public by United States companies subject to the reporting and disclosure requirements of the SEC. U.S. investors are cautioned not to assume that any part or all of the mineral deposits described in these categories will ever be converted into proven or probable reserves, as defined in the SEC's Industry Guide No. 7.

1 See Riverstone's news release dated October 3, 2012 and independent NI 43-101 compliant Technical Report titled "Technical Report and Updated Resource Estimate on the Karma Project, Burkina Faso, West Africa," dated effective October 1, 2012, filed on SEDAR (www.sedar.com) November 7, 2012.

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.

Vancouver Office:
Investor inquiries:
Don Mosher
Media inquiries:
Ian Noble
Data and Statistics for these countries : Burkina Faso | Canada | All
Gold and Silver Prices for these countries : Burkina Faso | Canada | All

True Gold Mining

ISIN : CA89783T1021
CUSIP : 768906
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True Gold. is a gold development stage company based in Canada.

True Gold. holds various exploration projects in Burkina Faso.

Its main asset in development is KARMA in Burkina Faso and its main exploration properties are LIGIDI, BISSA, SOLNA, YARAMOKO and GOULAGOU / RAMBO / KAO in Burkina Faso.

True Gold. is listed in Canada and in United States of America. Its market capitalisation is CA$ 267.2 millions as of today (US$ 212.1 millions, € 187.6 millions).

Its stock quote reached its lowest recent point on January 09, 2009 at CA$ 0.09, and its highest recent level on April 15, 2011 at CA$ 1.09.

True Gold. has 398 840 000 shares outstanding.

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Financings of True Gold Mining
5/17/2011Withdraws Public Offering of Common Shares
5/9/2011. Announces Equity Financing
6/2/2009Announces Non-Brokered Private Placement
10/1/2008Announces Proposed C$1.98 million Private Placement with IFC
6/23/2008Closes 1.75 Million Unit Private Placement at $0.60
6/13/2008Announces Closing of Private Placement
5/26/2008reases Private Placement to Raise C$1.9 Million
Option Grants of True Gold Mining
2/11/2011Grant of 300,000 options to PR Firm
10/8/2010Grant of 200.000 options to a director
9/9/2009Grant of 2.460.000 stock options
1/28/2009GRANT OF 730.000 STOCK OPTIONS TO directors, officers, emplo...
2/6/2008GRANT OF 1.010.000 STOCK OPTIONS TO directors, officers, emp...
7/9/2007GRANT OF 1.255.000 STOCK OPTIONS TO directors, officers, emp...
2/27/2006GRANT OF 250.000 STOCK OPTIONS TO Mr. Ron Cooper for PR Ser...
1/26/2006GRANT OF 500.000 STOCK OPTIONS TO directors
5/5/2004GRANT OF 805.000 STOCK OPTIONS TO directors, officers, emplo...
1/12/2004GRANT OF 440.000 STOCK OPTIONS TO directors, officers, emplo...
8/19/2003GRANT OF 610.000 STOCK OPTIONS TO directors, officers, emplo...
Nominations of True Gold Mining
3/26/2015Appoints Christian Milau as Chief Executive Officer
2/11/2011Announces Investor Relations Advisor, Stock Options
6/9/2006announces hiring of exploration manager
Financials of True Gold Mining
6/2/2015Reports Q1 2015 Financial & Operating Results
4/28/2015Reports Q4 2014 Financial Results
Project news of True Gold Mining
4/26/2016Endeavour completes acquisition of True Gold
11/19/2012(Karma)Engages Senet to Conduct Karma Gold Project Feasibility Stud...
7/18/2011(Karma)Intersects 58 Metres Grading 1.13 g/t Gold at Karma
6/9/2011(Karma)Intersects New Gold Zone at Karma
6/1/2011(Karma)Reports 38 Metres Grading 5.6 g/t Gold From Karma
5/26/2011(Bissa)Starts Major Drill Program at Yaramoko and Reports Additiona...
4/26/2011(Karma)Reports More Positive Gold Results from Karma
4/8/2011(Yaramoko)Reports 28.61 g/t Au Over 20 Metres on Yaramoko Gold Project...
3/24/2011(Karma)Intersects High Grade Gold at Karma
2/28/2011(Karma)Increases Gold Resources at Karma by 70 Percent
1/19/2011(Nami (karma))Intersects 14 Metres Grading 1.92 g/t Gold at Nami
1/10/2011(Nami (karma))Intersects 20 Metres Grading 3.27 g/t Gold at Nami
12/15/2010(Karma)Extends Depth of Kao Deposit at Karma
12/7/2010(Karma)Expands Footprint of Kao Deposit at Karma
7/13/2010(Bissa)Grants Options on Three Gold Properties
1/18/2010(Karma)Defines High Grade Gold Mineralized Trend
1/6/2010(Karma)Drilling Defines Gold Mineralized Trend
11/4/2009(Karma)New Gold Zone
9/24/2009(Karma)Commences Drilling on Karma Gold Project
8/26/2009(Karma)Drilling Plans on Karma Gold Project
7/6/2009(Karma)Independent Technical Report on the Karma Gold Project
9/18/2008(Karma)Extends Gold Mineralization at Karma
8/12/2008(Karma)Continues to Expand Gold Mineralization at Karma
7/10/2008(Karma)Initiates Resource Estimate for Karma Project
5/7/2008(Goulagou / Rambo / Kao)Extends Goulagou Mineralization to Depth at Karma
3/10/2008Intersects 16.7 g/t Gold (0.49 oz/ton) over 12 Metres at Kar...
2/28/2008 Intersects 5.47 g/t Gold over 10 Metres at Karma
1/29/2008(Goulagou / Rambo / Kao)Resumes Drilling at Kao Main Gold Zone
4/16/2007Intersects 10 metres of 3.55g/t Gold on Kao
4/5/2007(Rambo - Kao)Confirms And Extends Multiple Gold Zones On Kao
6/6/2006(Ligidi)plans 15,000m of RAB drilling on Burkina properties
Corporate news of True Gold Mining
4/21/2016Endeavour and True Gold Shareholders Approve Acquisition Tra...
4/21/2016True Gold Announces Securityholder Approval of Plan of Arran...
4/11/2016True Gold Announces First Gold Production
4/11/2016Independent Advisory Firms ISS and Glass Lewis Support Plant...
4/11/2016Independent Advisory Firms ISS and Glass Lewis Support Plan ...
4/7/2016Africa gold producers wary despite price rebound
3/24/2016True Gold Mails and Files Meeting Materials for Upcoming Spe...
3/18/2016True Gold Mining Reports Q4 2015 Financial Results
3/8/2016True Gold Begins Leaching Ore at Karma Mine
3/4/2016Canada's Endeavour Mining to buy True Gold for about C$240 m...
3/4/2016True Gold Mining to Combine With Endeavour Mining
2/11/2016True Gold Announces Stacking of Ore on Leach Pads at Karma
1/13/2016True Gold announces appointment of new Director
1/12/2016True Gold signs $10 million equipment finance facility
12/31/2015True Gold grants incentive stock options
11/17/2015True Gold mining reports Q3 2015 financial & operating resul...
10/26/2015True Gold appoints Peter Hardie as Chief Financial Officer
10/24/2015Sandstorm Gold Provides Asset Updates
10/23/2015Sandstorm Gold Provides Asset Updates
10/20/2015True Gold begins mining at Karma
9/25/2015Karma Mine Update
9/17/2015Karme Mine Update
9/17/2015True Gold: Karma Mine Update
8/24/2015True Gold Mining reports Q2 2015 financial & operating resul...
6/22/2015True Gold introduces David Laing as Chief Operating Officer
6/19/2015True Gold grants incentive stock options
6/17/2015True Gold provides progress update on Karma
6/16/2015True Gold Mining reports voting results from Annual Meeting
6/15/2015True Gold Mining Reports Voting Results From Annual Meeting
6/2/2015True Gold Mining reports Q1 2015 financial & operating resul...
5/29/2015True Gold strengthens Karma development and operations team
5/19/2015True Gold resumes construction at Karma
4/28/2015True Gold Mining reports Q4 2014 financial results
3/26/2015True Gold appoints Christian Milau as Chief Executive Office...
3/2/2015Ture Gold provides update on Karma Project
3/2/2015True Gold Provides Update on Karma Project
1/29/2015(Karma)Provides Progress Update on Karma
1/29/2015True Gold Provides Progress Update on Karma
1/20/2015True Gold Provides Corporate and Operational Update
1/20/2015Provides Corporate and Operational Update
1/14/2015IIROC Trading Resumption - TGM
1/14/2015(Karma)Temporarily Suspends Operations at Karma
1/14/2015True Gold Temporarily Suspends Operations at Karma
1/14/2015IIROC Trading Halt - TGM
12/24/2014True Gold draws down additional US$20.7M of project financin...
12/9/2014True Gold reports temporary work slowdown
12/6/2014True Gold Files PEA for North Kao and Updated Feasibility St...
11/24/2014True Gold Mining reports Q3 2014 financial results
11/17/2014Karma Gold Mine construction on time, on budget
11/17/2014True Gold Mining Inc.: Karma Gold Mine Construction on Time,...
10/31/2014True Gold Mining provides update on events in Burkina Faso
10/31/2014Burkina president rejects opposition calls to step down afte...
10/30/2014True Gold Mining Provides Update on Events in Burkina Faso
10/21/2014True Gold's North Kao Deposit to generate over US$118 millio...
9/25/2014Sandstorm Gold Remits First Upfront Payment to True Gold
9/25/2014True Gold Commences Draw Down of Project Financing
9/18/2014True Gold Receives All Permits for the Karma Gold Project
9/8/2014True Gold Secures Long-Term Cement Contract at a Price Signi...
2/22/2013.: Directors Approve Name Change
2/13/2013.: Widely Spaced RC Drilling at Liguidi Hits Near-Surface Go...
1/29/2013(Karma).: RAB Program Reveals Widespread Near-Surface Gold Minerali...
12/12/2012Announces Change in Financial Year-End
11/27/2012Starts Drilling on Liguidi Permit
11/7/2012(Karma)Files NI 43-101 Updated Resource Estimate Technical Report o...
10/15/2012.: Corporate Update
10/10/2012(Bissa)Intersects 6.95 g/t Gold Over 6 m at Bissa East Property
9/17/2012Intersects 9.50 g/t Gold Over 12 Metres at Kao Deposit
9/10/2012Intersects 2.39 g/t Gold Over 24 Metres at Kao
7/11/2011Reports Thick Gold Intercepts at Goulagou I
6/20/2011Reports Multiple Mineralized Intervals From Nami
3/23/2010Commences Drilling at Nami Site
12/8/2009HRA Advisories Coverage of Riverstone Resources (RVS: TSX-V)
2/9/2010Sampling Program Underway at Nami Gold Discovery Zone
2/8/2010Raises $1.8 Million
1/28/2010Commences Follow-up Program at Nami Gold Discovery Zone
6/19/2009Raises $2.1 Million
6/16/2008Resumes Drilling at Karma
4/29/2008Grants Financing and Option Rights to Teck Cominco
4/7/2008Expands Kao Main Zone at Karma
3/21/2006(Ligidi)new exploration permits signed in the Bissa area of Burkina ...
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