Riverstone Reports on Northwest Extension RC Drilling at Kao
25 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 sixteen
reverse circulation ("RC") 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 were drilled to test the up-dip
portion of the main Kao deposit along its north-west edge (see map on the
Riverstone website for the location of the holes:
http://www.riverstoneresources.com/i/maps/120920R2-120713_Kao_PortPlan.jpg).
Significant assay intervals in these RC holes include:
-- 2.27 g/t Au over 14 m and 1.66 g/t over 2 m in RC-257
-- 2.08 g/t Au over 8 m in RC-310
-- 2.06 g/t Au over 8 m in RC-338
-- 2.29 g/t Au over 6 m in RC-334
-- 1.82 g/t Au over 6 m in RC-215
Mineralization at Kao extends over 1,400 metres in a northeast-southwest
direction and at least 900 metres down-dip to the east. These latest drill holes
confirm that the Kao deposit comes to near surface to the northwest of the
currently modelled open pit and extends the currently known mineralization more
than 100 m to the north-west.
"The Kao deposit is already modelled as a wide open pit, due to the shallow dip
of the deposit," commented Dwayne L. Melrose, President and CEO of Riverstone.
"There may be an opportunity to expand the Kao pit to the north-west with these
results and potentially increase the overall resources in the updated resource
estimate that is expected to be released this quarter."
A more complete summary of results in these drill holes is presented in the
following table:
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Average
Interval (metres) Intercept Grade
Hole number From To (metres) (g/t Au)
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KAO-12-RC-257 16 18 2 1.66
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and 132 146 14 2.27
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KAO-12-RC-258 110 116 6 0.96
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and 174 176 2 1.36
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KAO-12-RC-261 74 80 6 1.00
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KAO-12-RC-262 100 106 6 0.59
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and 134 142 8 0.54
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KAO-12-RC-264 46 50 4 0.57
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KAO-12-RC-297 66 68 2 1.16
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and 118 120 2 3.67
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KAO-12-RC-310 84 94 10 0.75
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and 110 118 8 2.08
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KAO-12-RC-311 70 76 6 1.82
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and 114 120 6 0.75
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KAO-12-RC-313 98 106 8 0.71
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and 110 116 6 0.84
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KAO-12-RC-315 68 72 4 0.95
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KAO-12-RC-318 140 142 2 0.99
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KAO-12-RC-334 24 28 4 0.99
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and 44 60 16 0.52
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and 60 66 6 2.29
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KAO-12-RC-335 32 36 4 1.02
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and 40 54 14 0.59
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KAO-12-RC-338 38 46 8 2.06
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KAO-12-RC-339 26 30 4 0.53
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and 38 42 4 1.12
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Notes: Interpreted true thicknesses are between 90 and 100 percent. Drill
holes KAO-12-RC-319 and KAO-12-RC-321 had no significant values.
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. The Company's flagship project is the 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
Company's 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 current resource estimation, the Company has completed in
excess of an additional 85,000 metres of drilling on the Karma Project, and it
is expected that the results of this drilling will add to the overall resource
of the Karma Project deposits for which a new resource estimate is expected to
be released this quarter. The results of a Preliminary Economic Assessment have
recently been released (see Company news release dated August 20, 2012 and NI
43-101 Technical Report titled, "Preliminary Economic Assessment Report for the
Karma Project, Burkina Faso, West Africa", with an effective date of August 2,
2012, filed on SEDAR (www.sedar.com) September 17, 2012), highlighting the Karma
Project to be a robust project.
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 Anderson, M.Sc., P.Geo., the Company's Vice-President, 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, the assumptions set forth in this news release
and in the Company's news releases 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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