Riverstone Intersects 9.50 g/t Gold Over 12 Metres at Kao Deposit
17 Septiembre 2012 - 6:00AM
Marketwired Canada
Riverstone Resources Inc. (TSX VENTURE:RVS) (OTCQX:RVREF) (FRANKFURT:3RV)
("Riverstone" or the "Company") is pleased to report results from twenty-one
diamond drill holes on the 100% owned Kao ("Kao") Deposit, which forms part of
the company's flagship Karma Gold Project in Burkina Faso, West Africa (the
"Karma Project"). These holes are part of a program of drilling within the Kao
deposit confirming the higher grade oxide core and immediately south of the Kao
resource, and were designed to enhance the quality of data for the up-coming
resource estimate by increasing the density of drilling in this area. (See map
on the Riverstone website for location of the holes:
http://www.riverstoneresources.com/i/pdf/120914-120713_Kao_PortPlan.pdf).
Significant assay intervals in these core holes include:
-- 9.50 g/t Au over 12 m including 33.60 g/t Au over 2 m in DD-12-169
-- 2.97 g/t Au over 14 m in DD-12-167
-- 2.02 g/t Au over 30 m, including 2.54 g/t Au over 18 m in DD-12-182
-- 6.14 g/t Au over 2 m and 3.21 g/t Au over 6 m in DD-12-168
-- 3.19 g/t Au over 4 m and 1.49 g/t Au over 6 m in DD-12-179
-- 2.71 g/t Au over 6 m in DD-12-181
-- 13.45 g/t Au over 2 m in DD-12-132
-- 1.73 g/t Au over 12 m and 1.2 g/t Au over 10 m in DD-12-178
Mineralization at Kao extends over 1,400 metres northeast-southwest and at least
900 metres down-dip to the east. These latest drill holes confirm and enhance
the oxide intersections received in previous drilling in these areas. Of
particular significance is the fact that many of the intersections are near
surface, in oxide material.
"The Company continues to enhance the quality of the Kao Deposit" commented
Dwayne L. Melrose, President and CEO of Riverstone. "Of particular significance,
is the potential increase in oxide resources, expected to be included in the
next resource update. The Company is on track to release a new resource update
in September 2012, to enhance the robust PEA recently announced on the Karma
project".
A more complete summary of significant results in these drill holes is presented
in the following table:
----------------------------------------------------------------------------
Hole number Interval (metres) Intercept Average
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Grade
From To (metres) (g/t Au)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
KAO-DD-12-132 32 34 2 13.45
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----------------------------------------------------------------------------
KAO-DD-12-133 216 220 4 1.51
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----------------------------------------------------------------------------
KAO-DD-12-134 254 260 6 1.38
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----------------------------------------------------------------------------
KAO-DD-12-135 128 130 2 2.45
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and 214 226 12 0.93
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KAO-DD-12-167 40 54 14 2.97
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----------------------------------------------------------------------------
KAO-DD-12-168 8 10 2 6.14
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and 36 42 6 3.21
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----------------------------------------------------------------------------
KAO-DD-12-169 22 34 12 9.50
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including 22 24 2 33.60
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KAO-DD-12-170 0 14 14 0.58
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KAO-DD-12-171 32 36 4 0.70
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----------------------------------------------------------------------------
KAO-DD-12-172 18 26 8 0.68
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and 44 52 8 0.78
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and 98 108 10 0.73
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KAO-DD-12-173 0 30 30 0.51
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----------------------------------------------------------------------------
KAO-DD-12-174 6 14 8 1.34
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and 14 36 22 0.51
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KAO-DD-12-175 18 30 12 0.55
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KAO-DD-12-176 0 16 16 0.65
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KAO-DD-12-177 110 116 6 0.55
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KAO-DD-12-178 10 12 2 1.20
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and 36 48 12 1.73
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and 90 100 10 1.20
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KAO-DD-12-179 8 12 4 3.19
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and 26 28 2 1.26
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and 32 34 2 1.56
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and 38 52 14 0.86
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and 76 82 6 1.49
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KAO-DD-12-180 50 66 16 0.82
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KAO-DD-12-181 34 40 6 0.63
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and 40 46 6 2.71
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and 46 52 6 0.52
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KAO-DD-12-182 22 52 30 2.02
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including 34 52 18 2.54
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KAO-DD-12-183 16 20 4 1.43
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and 36 40 4 1.98
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Notes: Interpreted true thicknesses for these intercepts are between 90 and
100 percent.
The 100% owned Kao Deposit is part of the Company's Karma Project which
comprises a NI 43-101 compliant in-pit Whittle indicated resource of 1.6 million
ounces of gold in 47.3 million tonnes grading 1.1 g/t gold and an inferred
resource of 0.6 million ounces of gold in 18.9 million tonnes grading 0.93 g/t
gold (see news release dated January 9, 2012 and NI 43-101 Technical Report
titled "Technical Report and Resource Estimate on the Karma Project, Burkina
Faso, West Africa" filed on SEDAR (www.sedar.com) February 23, 2012.) Since the
data cut-off for the resource estimation, the Company has already completed
+85,000 metres of drilling on the Karma Project. The results of a Preliminary
Economic Assessment have recently been released (see Company news release dated
August 20, 2012), highlighting the Karma Project to be a robust project with an
after-tax NPV of $192 M and an IRR of 37%. A new resource estimate is expected
to be released later this month. It is expected that the results of this
drilling will add to the overall resources of the Karma Project deposits.
Riverstone maintains a quality control program involving the use of repeat
assays, inserted blanks and the use of certified standards from an accredited
Canadian laboratory. All samples were prepared at the independent Abilab Burkina
SARL laboratory in Ouagadougou, Burkina Faso, West Africa (part of the ALS
Chemex Group), and assayed using standard fire assay with an atomic absorption
finish, with samples grading over one gram per tonne gold re-assayed with a
gravimetric finish, either in Burkina Faso or at the ALS Chemex facility in
North Vancouver, British Columbia, Canada.
Riverstone is active in Burkina Faso, West Africa, where it holds a portfolio of
four high quality exploration projects covering in excess of 2,000 square
kilometres. Additional information about the Company and its activities may be
found on the Company's website at www.riverstoneresources.com and under the
Company's profile at www.sedar.com.
ON BEHALF OF THE BOARD
Dwayne L. Melrose, President & CEO
Paul G. Anderson, P. Geo. VP of Exploration is the Company's Qualified Person
for the purposes of National Instrument 43-101 and has reviewed and approved the
technical contents of this release.
Certain statements made and information contained in this news release and
elsewhere constitutes "forward-looking information" within the meaning of
Canadian securities legislation. Forward-looking statements are based on certain
assumptions and are subject to risks and uncertainties which could cause actual
events or results to differ from those reflected in the forward-looking
statements, including, without limitation, with respect to statements regarding
the updated resources estimate, anticipated timing and completion of a
definitive feasibility study, mine development schedule, the granting of
exploitation permits, the anticipated timing an completion of a NI 43-101
compliant technical report supporting the PEA, the assumptions set forth in this
news release and in the Company's news release of January 9, 2012, August 20,
2012 and risks and uncertainties relating to the interpretation of drill results
and the estimation of mineral resources, the geology, grade and continuity of
mineral deposits, the possibility that future exploration, development results
will not be consistent with the Company's expectations, accidents, equipment
breakdowns, risk of undiscovered, title defects and surface access, labour
disputes, the potential for delays in exploration and permitting activities, the
potential for unexpected costs and expenses, commodity price fluctuations,
currency fluctuations, political risk and other risks and uncertainties,
including those described under Risk Factors in each management discussion and
analysis and in the Company's annual information form which are available under
the Company's profile at www.sedar.com. Forward-looking information is based on
various assumptions including, without limitation, the expectations and beliefs
of management, the assumed long term price of gold, that the Company will
receive required permits and access to surface rights, that the Company can
access financing, appropriate equipment and sufficient labour and that the
political environment within Burkina Faso will continue to support the
development of environmentally safe mining projects. Should one or more of these
risks and uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described in
forward-looking statements. Accordingly, readers are advised not to place undue
reliance on forward-looking statements.
This news release may use the terms "measured", "indicated" and "inferred" as
these terms are defined under Canada's National Instrument 43.101. U.S.
Investors are advised that, while such terms are recognized and required by
Canadian regulations, they are not recognized by the United States Securities
and Exchange Commission ("SEC") and may not be comparable to similar information
for United States mining or exploration companies. As such, certain information
contained on this news release concerning descriptions of mineralization and
resources under Canadian standards is not comparable to similar information made
public by United States companies subject to the reporting and disclosure
requirements of the SEC. U.S. investors are cautioned not to assume that any
part or all of the mineral deposits described in these categories will ever be
converted into proven or probable reserves, as defined in the SEC's Industry
Guide No. 7.
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