Riverside Prepares for Fall Drill Program at the Cuarentas Project and Samples 9.1 g/t Gold over 3.4 m
Vancouver, British Columbia--(Newsfile Corp. - October 8, 2020) - Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: R99) ("Riverside" or the "Company"), has received new channel sampling and soil sampling results taken along several of the planned drill targets at The Cuarentas (the "Project"). Results aim to provide respective grade thickness at surface on known targets and to expand the documented strike distance of vein systems through the soil sampling program. The Project is located approximately 20 km to the west of Premier Gold Mines' Mercedes mine and 30 km south of Agnico Eagle's Santa Gertrudis operation in Sonora, Mexico. The Cuarentas Project is operated by Riverside with earn-in partner Hochschild Mining ("Hochschild") funding the next $8,000,000 of investment to reach a 51% interest with additional terms summarized in earlier news (see press release June 24, 2020).
Riverside's sampling program was conducted to aid with target definition to support the upcoming drill program. A total of 55 channel samples and 181 soil samples were carried out providing confidence for extending the vein projections. In both sampling programs, channel and soil delivered high-grade results including:
Top results from channel sampling (see Table 1)
- 9.1 g/t Au over 3.4 m including 32.9 g/t Au over 0.8 m Au
- 21.7 g/t Au over 1.6 m
- 6.3 g/t Au over 1.2 m
The channel sampling program was carried out with a rock saw, thus making channel samples continuous and more representative than any previous sampling by former explorers. The first channel sample batch contained 55 samples; 22% of the samples returned higher than 0.6 g/t Au and 49% of samples higher than 0.2 g/t Au. A map showing the full data for all samples can be found on Riverside's website for those looking for even greater context.
Table 1: Top results from channel sampling over both primary targets: Santa Rosalia and Santa Rosalia Sur
|Channel name||Width (m)||Grade (g/t)||Target|
|RRI_CH_01||3.4||9.1||Santa Rosalia Sur|
|RRI_CH_05||1.5||2.1||Santa Rosalia Sur|
|RRI_CH_03||0.7||1.4||Santa Rosalia Sur|
|RRI_CH_02||1.9||1.1||Santa Rosalia Sur|
|RRI_CH_04||2.1||0.9||Santa Rosalia Sur|
The soil program was done using a grid of 50 meter spaced lines and 25 meter spacing between samples. Highlights below include:
- Soil sampling results of up to 0.9 g/t Au
- Definition of a continuous 550 m long high-grade gold-in-soil anomaly which merges the Santa Rosalia and Santa Rosalia Sur as Centro de Rosalia and cumulates more than 1.7 km with higher-grade gold mineralization (see Figure 1, below)
Figure 1: Map of the main structural target at The Cuarentas Project, including the magnetic survey result of depth slice at 50 m depth, recent soil survey and channel sampling
To view an enhanced version of Figure 1, please visit:
Riverside's President and CEO, John-Mark Staude, stated: "We are pleased to be working with Hochschild Mining's fine exploration staff, as together we are refining and detailing excellent drill targets. We are particularly pleased that our sampling programs have demonstrated the link between the Santa Rosalia Mine and Santa Rosalia Sur targets. We have worked safely and effectively through COVID-19 and our in-country Mexico team now has the field camp set up with all operational capabilities to commence drilling this fall."
The primary focus of this initial work phase with Hochschild included work on channel sampling for precision and continuity along the Santa Rosalia Mine and Santa Rosalia Sur targets. Secondly, the soil sampling program helped define the possible continuity of mineralization within the 500-m colluvial covered zone separating Santa Rosalia and Santa Rosalia Sur including gold values up to 0.9 g/t gold. Currently, Riverside is undertaking an Induced Polarity (IP) survey over both primary targets. The IP survey work could be expanded over the recently discovered Centro de Rosalia zone. The Centro de Rosalia zone allows Riverside to extend the primary structural and mineralized target, which now covers more than 1.7 km in strike length.
Building up our knowledge base on the Santa Rosalia targets continues to allow us to extend the mineralization on surface and prepare for drilling. Riverside is rapidly advancing toward drilling and expecting more geophysics and trench results shortly.
Qualified Person & QA/QC:
The scientific and technical data contained in this news release pertaining to The Cuarentas Project was reviewed and approved by Freeman Smith, P.Geo, 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 collected at The Cuarentas Project were taken to the Bureau Veritas Laboratories in Hermosillo, Mexico for fire assaying for gold. The rejects remained with Bureau Veritas in Mexico while the pulps were transported to Bureau Veritas' laboratory in Vancouver, BC, Canada for 45 element ICP/ES-MS analysis. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Standard 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 company driven by value generation and discovery. The Company has no debt and less than 68M shares outstanding with a strong portfolio of gold-silver and copper assets in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside's own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for 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:
Riverside Resources Inc.
Phone: (778) 327-6671
Fax: (778) 327-6675
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
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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