Riverside Expands Exploration Targets At The Glor Gold Project In Sonora, Mexico
May 4, 2016 – Vancouver, BC: Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V: RRI), is pleased to provide an exploration update on recent exploration work at the Company’s Glor Gold Project (the “Project”), located approximately 8 km west of Alamos Gold’s El Chanate Gold Mine in Sonora, Mexico. Several large scale target areas have been identified over an area covering approximately 25 square kilometres, with further follow up work planned for 2016. Riverside will now seek a partner to advance this prospective gold target.
Riverside has completed several campaigns of exploration work on the property including detailed geologic and alteration mapping, rock chip and channel assays, orientation ground magnetic surveys, reprocessing of regional high resolution airborne magnetic surveys and most recently a soil sampling survey over the southwestern portion of the property. Riverside has collected 155 rock chip samples to-date, with assays from <0.005 g/t to 18.85 g/t gold (see press release September 3, 2015 for more details on past work). The Glor Project was initially optioned by Riverside while under a strategic alliance with Hochschild Mining Plc., and has subsequently reverted to Riverside control.
The recently completed soil sample grid covering the western portion of the property further defined target areas (San Pedro & El Poblado) worthy of additional field work ahead of drill targeting (visit the Glor Project Page to view target maps and figures). Gold assays from the soil sampling identified anomalous values in an area approximately 1,500 metres long by 700 metres wide, along the primary fault system that trends approximately west-northwest, dipping to the southwest. The soil samples were first tested using a handheld XRF Innovex analyser to determine levels of certain base and trace metals typical of these deposit types to identify areas of interest for detailed quantitative assay follow up.
Riverside’s President and CEO, John-Mark Staude, stated: “We are encouraged by recent field work and look forward to working with a partner at the Glor Project in the near future.”
Project History and Agreement Details:
The Glor Project was previously staked by Pediment Gold, which completed geologic mapping, rock sampling, and soil sampling. Pediment’s soil sampling indicated several gold and trace-element anomalies coincident with surface alteration. Argonaut Gold bought Pediment Gold, acquiring Glor in the process. Riverside acquired the option to earn a 100% interest in the Project from Argonaut Gold (see press release March 25, 2015) as part of Riverside-Hochschild Alliance activities and now the Company is looking to advance the project with a new partner. For further information on Riverside’s property portfolio please visit the Company’s website at www.rivres.com.
Qualified Person and QA/QC:
The scientific and technical data contained in this news release pertaining to the Glor Project was reviewed and prepared under the supervision of Riverside’s VP Exploration, Greg Myers, PhD, PGeo, 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 acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Soil samples were analyzed at the Bureau Veritas Laboratory (BVL) in Hermosillo Sonora. The samples were screened and pulverized to <140 mesh. BVL is an ISO 9001-2008 certified laboratory formerly known as the Inspectorate Laboratory. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Standard and blank samples were randomly inserted into the sample stream prior to being sent to the laboratory.
About Riverside Resources Inc.:
Riverside is a well-funded exploration team of focused, proactive gold discoverers. The Company currently has approximately $4,000,000 in the treasury and approximately 37,300,000 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 on 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
For additional information contact:
President & CEO
VP, Corporate Development
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward looking terminology (e.g., "expect”,” estimates", "intends", "anticipates", "believes", "plans"). Such information involves known and unknown risks -- including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
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.