VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 13, 2014) - Riverside Resources Inc. ("Riverside" or the "Company") (TSX VENTURE:RRI)(R99.F)(RVSDF) is pleased to announce the results of a recently completed reconnaissance drilling campaign at the Swift Katie Project (the "Project") located in southeastern BC. Five diamond drill holes, totaling 1423m, were completed at the Swift porphyry target with some encouraging results. These holes tested soil and resistivity anomalies over a 1 km2 area. Spacing between drill hole collars ranges from 350m to 900m(Click here to view: http://rivres.com/images/PR_2014DH-locations.jpg).
The 2014 drill program encountered numerous zones of precious metal mineralization. Highlighted assays include 23.4 g/t gold, 0.62% copper and 435 g/t silver over 1.5 m as well as 5.69 g/t gold, 0.13% copper and 26.6 g/t silver over 2 m (both intervals from SK14-002). The Company believes these high-grade gold-silver vein intercepts warrant further exploration and follow-up, as the primary exploration objective to-date has only focused on the large-scale copper-gold porphyry potential of the Swift target. The two zones associated with the high-grade precious metals include 20-40cm wide pyrite-pyrrhotite-chalcopyrite veins at the contact between andesite and diorite. The interval from 179.5 to 181m has associated polymetallic mineralization including 0.6% lead. This polymetallic mineralization may be an indication of a transition from a peripheral porphyry environment to a proximal porphyry environment.
Highlighted drill results are summarized in the table below:
| Drill Hole |
From (metres) |
To (metres) |
Interval (metres) |
Gold (g/t) |
Copper (%) |
Silver (g/t) |
Gold Eq. (g/t)* |
| SK14-002 |
177.5 |
179.5 |
2 |
5.69 |
0.13 |
26.6 |
6.44 |
| SK14-002 |
179.5 |
181 |
1.5 |
23.4 |
0.62 |
435 |
31.15 |
| SK14-002 |
183 |
185 |
2 |
0.344 |
0.04 |
4.84 |
0.54 |
| SK14-002 |
209 |
211 |
2 |
1.14 |
0.01 |
0.71 |
1.19 |
| SK14-002 |
288 |
290 |
2 |
0.595 |
0.02 |
1.69 |
0.67 |
| SK14-002 |
300 |
302 |
2 |
1.12 |
0.13 |
5.04 |
1.58 |
| |
|
|
|
|
|
|
|
| SK14-004 |
112 |
114 |
2 |
0.626 |
0.03 |
0.5 |
0.71 |
| SK14-004 |
132 |
140 |
8 |
0.451 |
0.03 |
0.758 |
0.56 |
| |
|
|
|
|
|
|
|
| SK14-005 |
211 |
217 |
6 |
0.457 |
0.04 |
0.730 |
0.58 |
| SK14-005 |
223 |
225 |
2 |
0.513 |
0.03 |
0.39 |
0.60 |
| SK14-005 |
247 |
249 |
2 |
0.562 |
0.02 |
0.51 |
0.62 |
| Reported intervals are core lengths, true widths undetermined. |
| *Gold Equivalent calculation, Au Eq =(Au g/t + ((Cu grade x Cu price)+(Ag grade x Ag price))/(Au price), was used with $1,144 gold, $15.42 silver and $3.03 copper. |
SK14-001 and SK14-003 did not intersect significant copper or gold values, however hydrothermal alteration in the form of chlorite, epidote, calcite, pyrite and magnetite were intercepted in both holes. In addition, indicators of porphyry-style mineralization have been intersected, including zones of potassic alteration (biotite-magnetite) in SK14-002, SK14-004 and SK14-005. The results support Riverside's belief that there is a hydrothermal system associated with porphyry Cu-Au mineralization at Swift. These results are being evaluated along with property-scale targets to determine the next phase of work.
Riverside's President and CEO, John-Mark Staude, stated: "The drill results are positive in finding gold mineralization and alkalic porphyry Cu-Au style alteration. With further work, we hope to further expand the known extent of mineralization and with over a half dozen targets to potentially test, Riverside looks forward to further work in the year ahead."
Qualified Person and QA/QC:
The scientific and technical data contained in this news release pertaining to the Swift Katie Project was reviewed by Danette Schwab, P.Geo - Project Manager, a non-independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided in this news release is accurate and who acts as a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Rock samples were prepared for assay at AGAT Labs in Burnaby, BC and analyzed for multiple elements at AGAT Labs in Mississauga, Ontario. Accuracy of results is tested through the systematic inclusion of standards, blanks and duplicates.
About Riverside Resources Inc.:
Riverside is a well-funded prospect generation team of focused, proactive precious and base metal discoverers with the breadth of knowledge to dig much deeper. The Company currently has approximately $3,500,000 in the treasury and approximately 37,000,000 shares outstanding. The Company's model of growth through partnerships and exploration uses the prospect generation business approach to own resources, while partners share in de-risking projects en route to discovery. Riverside has additional properties available for option with more information available on the Company's website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
Dr. John-Mark Staude, President & CEO
Neither the 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.