Riverstone Intersects 6.95 g/t Gold Over 6 m at Bissa East Property
10 Octubre 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 sixty-seven
reverse circulation ("RC") drill holes on the 100% owned Biliga and Tangapella
exploration permits, which form the Company's Bissa East Gold Project in Burkina
Faso, West Africa (the "Bissa East Project"). These holes were part of a
regional drill program designed to follow up on previously obtained anomalous
soil, rock chip and RAB drilling results.
Significant assay intervals in these RC holes include:
-- 6.95 g/t gold over 6 m in TGP-12-RC-044
-- 1.2 g/t gold over 36 m including 1.60 g/t gold over 12 m in BLG-12-RC-
034
-- 1.13 g/t gold over 24 m in BLG-12-RC-032
-- 1.04 g/t gold over 18 m including 2.94 g/t gold over 4 m in BLG-12-RC-
004
-- 1.12 g/t gold over 8 m in BLG-12-RC-020
-- 2.03 g/t gold over 4 m in BLG-12-RC-012
"The Bissa East Project area is a highly prospective regional exploration target
as it is adjacent to the Bissa Hill gold mine," commented Dwayne Melrose,
President and CEO of Riverstone. "These initial RC drill results are very
promising as they give us a good indication of numerous gold bearing structures
that need to be followed up with further drilling. Riverstone has a very good
portfolio of early stage exploration projects such as the Bissa East Project,
Bissa West Project and also Liguidi, not to mention the excellent potential for
expanding the Karma deposits."
The Biliga drill program comprised 40 holes (4752 m) and was designed to follow
up on RAB drilling results from 2007 that returned 0.91 g/t gold over 21 m,
including 1.67 g/t gold over 9 m in BLG-07-023, 2.09 g/t gold over 3 m in
BLG-07-030, 1.38 g/t gold over 3 m in BLG-07-059, 1.47 g/t gold over 3 m in
BLG-07-064 and 1.37 g/t gold over 3 m in BLG-07-075 (See Map on the Company's
website for the location of the Biliga holes:
http://www.riverstoneresources.com/i/maps/121006BLG-121005_BissaEast_PortPlan.jpg).
The Biliga permit is underlain by a series of northwest trending metasedimentary
and metavolcanic rocks plus a least one northeast trending intrusive. The
intrusive lies in close proximity to a prominent regional northeast trending
shear structure, which parallels the Sabce shear zone to the south. This
un-named structure hosts a small gold deposit just west of the Biliga permit,
and it trends for almost 19 kilometres across Biliga. The Bissa Hill gold mine,
which is currently under construction, along with a large number of gold
occurrences, occurs within the Sabce shear to the southwest.
The RC drill results indicate the presence of three gold bearing sub-parallel
structures within the intrusive, with the southernmost structure traced for 1000
metres. All three structures are open in all directions, and are zones
characterized by silica and hematite alteration, quartz veining and brecciation.
Drilling on Tangapella totaled 30 holes (3516 m) and targeted an artisanal
mining site where previous rock chip sampling had returned high gold values,
along with a prominent gold in soil anomaly further south. Tangapella is
underlain by two distinct northwest trending bands of metavolcanics in thrust
contact with surrounding metasediments, folded into a prominent northeast
trending regional antiform. The axis of the antiform contains the Sabce shear, a
wide zone of deformation, which can be traced for approximately 20 kilometres
across the permit. The volcanic-sedimentary contacts contain numerous artisanal
gold mining sites, with intensely fractured, quartz veins and quartz stringer
zones (See Map on the Company's website for the location of the Tangapella
holes:
http://www.riverstoneresources.com/i/maps/121006TGP-121005_BissaEastTGP_PortPlan.jpg).
The Tanmiga artisanal site occurs adjacent to the Sabce shear zone in a
subsidiary structure. The Company obtained high gold values in rock sample
results in 2007 within highly fractured, quartz rich, brecciated metasedimentary
rocks. RC drill results indicate the presence of a discontinuous structure
traceable over approximately 600 m, which is open in all directions. The Mafalou
area to the south contains a prominent gold in soil anomaly, and the RC drilling
has traced a discontinuous 400 metre long zone of brecciation, within which hole
TGP-12-RC-044 returned 6.95 g/t gold over 6 m.
A more complete summary of significant results in these drill holes is presented
in the following table:
Interval (metres) Intercept Average
Hole number From To (metres) (g/t Au)
----------------------------------------------------------------------------
Tangapella Permit: TGP-12-
RC-019 108 110 2 1.340
TGP-12-RC-026 54 60 6 0.792
and 130 134 4 0.565
TGP-12-RC-027 74 78 4 0.502
and 84 88 4 0.639
and 98 100 2 1.330
TGP-12-RC-029 60 64 4 0.693
and 72 84 12 0.438
TGP-12-RC-031 100 108 8 0.474
TGP-12-RC-044 142 148 6 6.953
TGP-12-RC-045 68 70 2 1.600
and 76 78 2 0.701
Biliga Permit: BLG-12-RC-002 18 20 2 0.502
and 54 62 8 0.427
BLG-12-RC-004 0 18 18 1.040
including 6 10 4 2.935
BLG-12-RC-005 6 8 2 0.761
and 38 40 2 0.564
BLG-12-RC-006 14 20 6 0.483
BLG-12-RC-007 34 50 16 0.426
BLG-12-RC-008 6 14 8 0.508
BLG-12-RC-012 10 14 4 2.030
and 42 54 12 0.565
BLG-12-RC-013 102 112 10 0.565
BLG-12-RC-014 88 90 2 0.573
BLG-12-RC-015 50 54 4 0.866
BLG-12-RC-017 106 108 2 0.804
BLG-12-RC-018 40 42 2 1.630
and 98 100 2 1.140
and 110 112 2 1.130
BLG-12-RC-019 52 54 2 0.722
BLG-12-RC-020 0 8 8 1.123
BLG-12-RC-021 38 82 44 0.685
and 94 102 8 0.573
BLG-12-RC-023 52 58 6 0.490
BLG-12-RC-024 0 2 2 1.920
BLG-12-RC-025 10 16 6 0.891
and 80 84 4 0.723
BLG-12-RC-026 32 36 4 0.566
and 50 52 2 0.692
and 56 58 2 1.430
BLG-12-RC-027 6 8 2 0.527
and 20 28 8 0.520
BLG-12-RC-028 2 8 6 0.649
and 40 42 2 1.600
and 64 66 2 1.740
BLG-12-RC-030 30 34 4 0.816
BLG-12-RC-031 36 44 8 0.581
BLG-12-RC-032 44 68 24 1.131
BLG-12-RC-033 2 8 6 0.436
and 74 76 2 0.713
BLG-12-RC-034 38 74 36 1.203
including 38 50 12 1.595
and 82 100 18 0.482
and 106 108 2 0.710
BLG-12-RC-036 104 106 2 0.917
and 128 132 4 0.482
Notes: Insufficient work has been completed on these areas to determine the
true thickness of the mineralized zones.
Riverstone is active in Burkina Faso, West Africa, where it holds a portfolio of
four high quality exploration projects covering in excess of 1,800 square
kilometres. The Company's flagship project is the Karma Gold Project (the "Karma
Project"), which comprises a NI 43-101 compliant in-pit Whittle indicated
resource of 1.9 million ounces of gold in 56.5 million tonnes grading 1.1 g/t
gold and an inferred resource of 0.5 million ounces of gold in 15.4 million
tonnes grading 1.0 g/t gold (see Company's news release dated October 3, 2012
filed on SEDAR (www.sedar.com). The results of a Preliminary Economic Assessment
("PEA"), which has 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),
highlights the Karma Project to have robust economics. The PEA is based on the
Company's previous January 9, 2012 resource estimate. The results of the updated
resource estimate announced on October 3, 2012, is expected to further enhance
project value as the Karma Project is advanced.
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. Such 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 Karma Project value enhancement and
development, the assumptions set forth in this news release and in the Company's
news releases of January 9, 2012, August 20, 2012, October 3, 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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