Riverstone Intersects 1.43 g/t Gold Over 40 m at Goulagou I
03 Agosto 2012 - 7:57PM
Marketwired Canada
Riverstone Resources Inc. (TSX VENTURE:RVS)(OTCQX:RVREF)(FRANKFURT:3RV)
("Riverstone" or the "Company") is pleased to report results from 51 reverse
circulation ("RC") drill holes on the 90% owned Goulagou I ("GGI") 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 the overall program
to extend the GGI deposit along strike and to depth for inclusion in the
upcoming resource estimate on the Karma Project, which is scheduled to be
available in September 2012 (See Map on the Riverstone Website for the location
of the holes:
http://www.riverstoneresources.com/i/maps/120802-100504_GGI_Plan-b.jpg).
Significant assay intervals in these drill holes include:
-- 1.43 g/t Au over 40 m in 12-RC-339
-- 1.21 g/t Au over 20 m including 3.48 g/t over 4 m in 11-RC-321
-- 4.53 g/t Au over 4 m in 11-RC-328
-- 1.08 g/t Au over 14 m in 11-RC-330
-- 2.32 g/t Au over 2 m and 4.21 g/t Au over 2 m in 12-RC-236
Mineralization at GGI now extends over 2,200 metres east-west and locally at
least 200 metres down-dip. Drilling at GGI is generally testing shallow targets,
to about 100 to 150 metres vertical depth and also deeper drilling that test
higher-grade shoots that remain open to depth and along strike.
"The results of this drilling will be included in the upcoming resource estimate
scheduled for September 2012," commented Dwayne L. Melrose, President and CEO of
Riverstone. "The Preliminary Economic Assessment for the Karma Project that is
currently being conducted is progressing on schedule and is expected to be
released in August 2012."
A more complete summary of significant results in these drill holes is presented
in the following table:
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Hole number Interval (metres) Intercept Average
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From To (metres) Grade (g/t Au)
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GLG-11-RC-290 174 184 10 0.94
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GLG-11-RC-291 144 148 4 0.79
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GLG-11-RC-292 46 48 2 1.71
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GLG-11-RC-294 4 6 2 1.91
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GLG-11-RC-300 26 34 8 0.87
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GLG-11-RC-310 100 108 8 0.63
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GLG-11-RC-314 92 94 2 1.13
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GLG-11-RC-317 120 138 18 0.58
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GLG-11-RC-320 56 66 10 0.56
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and 90 92 2 1.45
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GLG-11-RC-321 50 70 20 1.21
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including 62 66 4 3.48
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GLG-11-RC-323 104 130 26 0.73
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and 130 150 20 0.65
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GLG-11-RC-327 134 142 8 1.09
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GLG-11-RC-328 108 112 4 4.53
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GLG-11-RC-329 136 152 16 0.91
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GLG-11-RC-330 70 78 8 0.50
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and 78 92 14 1.08
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GLG-11-RC-331 104 120 16 0.76
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and 138 146 8 0.67
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GLG-11-RC-335 158 164 6 0.69
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GLG-11-RC-336 18 28 10 0.58
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and 50 52 2 2.32
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and 136 138 2 4.21
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GLG-11-RC-338 78 110 32 0.70
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GLG-11-RC-339 20 60 40 1.43
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GLG-11-RC-340 138 142 4 0.98
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GLG-11-RC-341 180 184 4 0.80
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Notes: Interpreted true thicknesses for these intercepts are between 60 and
70 percent.
Holes 293, 295-299, 301-309, 311-313, 315, 316, 318, 319, 322, 324,
325, 332-334 and 337 returned no significant intersections.
The 90% owned GGI 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 cut-off date for
the January 9th, 2012 resource estimation, the Company has completed an
additional +85,000 metres of drilling on the Karma Project. 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. Addition 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
Giles R. Peatfield, Ph. D., P.Eng. is the Qualified Person for RVS and has
reviewed and approved the 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 release of January 9, 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 activities, the potential for unexpected costs and
expenses, commodity price fluctuations, currency fluctuations, 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.
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