Riverside Reports Drill Results And Provides Exploration Update For Tajitos Gold Project In Sonora, Mexico
May 16, 2016 – Vancouver, BC: Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V: RRI), is pleased to provide drill results and an update on exploration work at the Company’s Tajitos Gold Project (the “Project”), located in Sonora, Mexico. Core and reverse circulation (RC) drilling has concluded and Riverside has now received gold assay results for all samples submitted to the lab. Riverside and partner Centerra Gold Inc. (“Centerra”) completed eight (8) diamond core holes totalling 1,832 metres. Highlighted intercepts from the core drilling included (reported intervals are approximate true width):
- T16-001D, 3.00 metres @ 1.14 g/t gold starting at 297.00 metres depth
(hole ended in mineralization);
- T16-002D, 11.10 metres @ 0.78 g/t gold starting at 185.90 metres depth;
- T16-005D, 3.00 metres @ 6.12 g/t gold starting at 48.00 metres depth;
- T16-008D, 1.50 metres @ 6.03 g/t gold starting at 42.00 metres depth;
Mineralization intersected in the Tajitos drilling correlates with fault zones and lithologic contacts and further drilling is required to determine the mineralization extent and tenor. Initial evaluation of trace elements from 6 of the holes and surface sampling show an enrichment in As, and Sb within the gold zone and in the footwall below gold enriched zones. Lead is also elevated in the areas with the highest gold values. This pattern was also seen in previous trench and channel sampling. Patterns of trace and base metals will be examined with regard to future drill targeting and multi-element vectoring to gold zones. The core drilling at Tajitos provides key structural and stratigraphic information permitting updated fault control modeling and detailed investigation of alteration patterns and paragenesis of the gold mineralization. Please visit the Tajitos Project Page to view a drill hole location map, cross sections and additional photos and figures.
Riverside’s President and CEO, John-Mark Staude, stated: “The Sonora Orogenic Gold Deposits commonly have lenses of gold and often require several drilling campaigns and several dozen drill holes for a discovery. We are encouraged with the results of this initial phase of 8 core holes, which will help us establish a better understanding of controls on mineralization and guide future drilling and exploration efforts at Tajitos.”
A program of reverse circulation drilling in the Tejo area was designed to determine the depth to bedrock and 1,728 metres were completed in 12 holes. The Tejo drilling determined depth to bedrock ranges from a few metres to over 200 metres deep. The intersected bedrock includes the same stratigraphic units which host gold mineralization at the Tajitos target and similar alteration is observed in both areas. The minimal bedrock sampled only contained trace levels of gold but trace elements will be further evaluated to determine possible zoning patterns to vector toward the most favorable areas and will be used in conjunction with surface mapping and geochemical sampling.
Project History and Agreement Details:
The ~60km² Tajitos Gold Project is located in the heart of the Sonora-Mojave Megashear Gold Belt. The Project was acquired by Riverside from a private owner and is owned by Riverside 100% with no underlying royalties. Previous work programs completed by Riverside confirmed high grade gold values in quartz veins and anomalous values of gold in fault zones with only minor quartz veining. Riverside results from rock chip geochemical sampling on the vein systems at Tajitos range from <0.005 to 34.74 g/t gold and from <0.1 to 383 g/t silver over widths ranging from 0.5 to 3.0 metres. Sampling outside the veins in silicified and sericite altered volcanic and intrusive rocks have returned gold values from <0.005 to 1.02 g/t. As per the option agreement, Centerra can earn a 70% interest in the Tajitos Project by completing $6,000,000 USD in exploration within four years (see press release: October 20, 2015). For further information on Riverside’s property portfolio please visit the Company’s website at www.rivres.com.
Qualified Person & QA/QC:
The scientific and technical data contained in this news release pertaining to the Tajitos Gold Project was prepared and approved by Greg Myers, PhD, P.Geo, - VP, Exploration, 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.
Reported core samples were taken to Hermosillo, Mexico where Bureau Veritas Laboratory Group’s (BV) mineral division crushed and pulverized each sample. Gold fire assays with AA finish were analysed in BV Hermosillo laboratory. The rejects remained with BV in Hemosillo while the pulps were transported to BV ISO 9001-2008 certified laboratory in Vancouver, BC, Canada for multi-element ICP analysis. 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
Riverside Resources Inc.
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.
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