Riverside Reports Drill Results and Go Forward Program with Antofagasta at The Thor Property, Sonora, Mexico
February 8, 2017 – Vancouver, BC: Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V: RRI), is pleased to provide an update on the partner funded exploration work and initial drill testing at the Company’s Thor Project in Sonora, Mexico. The Thor Project is 128 km2 and located approximately 80 km east of the capital city of Sonora, Hermosillo. Riverside and its partner, Antofagasta Minerals S.A. (“Antofagasta”), a wholly-owned subsidiary of Antofagasta Plc, recently completed the first four (4) drill holes ever drilled on this large property package that indicate at least three separate porphyry hydrothermal centre areas over a strike length of > 8 km in total distance.
Riverside and its partner decided to complete an initial proof-of-concept drill program to confirm Laramide aged rock at depth and explore for indications of a porphyry-intrusive system. The four diamond core holes totalled 1,335 m, with all four holes intersecting fault structures which appear to intersect upper and lower structural blocks of a porphyry-intrusive system. There were no significant copper or gold mineralized intercepts over material widths in these initial four holes; however, the program successfully found a porphyry system, with drilling encountering a large Laramide aged porphyry style quartz-sericite-pyrite stockwork zone, which can now be followed up with further work. The positive indications from the current program justify additional exploration work that will initially include a detailed remote sensing study and follow up field mapping, and targeted alteration and geochemical sampling to focus on identification of further drill targeting and to help understand the structural make up of this porphyry district. Riverside and Antofagasta have reviewed the results last week and now plan to progress the project with Riverside continuing as operator and moving the discovery process forward.
Riverside’s President and CEO, John-Mark Staude, stated: “We are pleased to be drilling and exploring with Antofagasta as a partner in Sonora, Mexico. The drill program at Thor has delivered a positive proof of concept with the discovery of extensive porphyry style veining in the drilled target areas. The project will now be progressed with further targeting work on both the upper and lower plates in an attempt to vector in on a potential copper porphyry discovery.”
Drilling included three initial holes into the North Target area and one hole drilled at the South Target area. The recently completed program did not include any drilling at the Central area or other target zones on the >100 km2 property. The drilling so far is interpreted to have cut an upper block of porphyry style quartz sericite veining and a lower plate of intrusions with varying levels of porphyry-intrusion style alteration. The porphyry system at Thor has multiple square kilometres of strong hydrothermal acid leaching and alteration. The drill testing is encouraging and provides guidance for next phases of targeting at depth along with further evaluation of the untested Central Target area.
The upper plate has at least three distinct hydrothermal centres and both the upper and lower plate appear to have potential to host a mineral discovery. Laramide porphyry systems in Arizona, such as the San Manuel-Kalamazoo copper mine operation, were discovered proximal to large extensional fault core complexes. Riverside geologists will consider these potential analogues while completing field exploration and follow up structural targeting interpretation of the system at Thor.
For more information on the Project, please visit the Thor Project page on the Company’s website: https://goo.gl/nGw88q
Qualified Person & QA/QC:
The scientific and technical data contained in this news release pertaining to the Thor Project was reviewed and approved by Locke Goldsmith, P.Geo, P. Eng, 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 Hermosillo 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 $3,300,000 in the treasury and less than 37,500,000 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
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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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