Riverstone Announces Liguidi RAB Drilling Results-Confirmation of 13 km Long Gold Soil Anomaly
20 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 a Rotary Air
Blast ("RAB") drilling program completed on the Liguidi Exploration Permit
("Liguidi"). The RAB drilling confirms a gold soil anomaly in excess of 13 kms
long and also confirms the results of a quartz boulder sampling program
previously undertaken over a broad area known as the Quartz Float Zone (see map
on Company's website illustrating the RAB intercepts:
http://www.riverstoneresources.com/i/maps/2012-09-20_Liguidi.jpg).
The RAB drilling totaled 13,002 m in 876 holes, along lines spaced at 200 m
intervals, with holes every 50 m along the lines. Most holes were vertical but a
small number were angled where structure was evident. Significant intercepts
include:
-- 1.43 g/t gold over 24 m, including 2.78 g/t gold over 12 m in LMG-RAB-
523
-- 1.69 g/t gold over 11 m in LMG-RAB-436
-- 1.46 g/t gold over 12 m in LMG-RAB-538
-- 1.24 g/t gold over 15.5 m, including 5.07 g/t gold over 3 m in LMG-RAB-
042
-- 1.28 g/t gold over 12 m in LMG-RAB-869
-- 1.02 g/t gold over 18 m in LMG-RAB-499
-- 4.14 g/t gold over 3 m in LMG-RAB-590
-- 2.80 g/t gold over 3 m in LMG-RAB-613
-- 1.98 g/t gold over 6 m in LMG-RAB-864
-- 1.00 g/t gold over 11 m, including 3.27 g/t gold over 3 m in LMG-RAB-232
"Riverstone is very pleased with the results of the RAB drilling as the drilling
confirms the longest gold soil anomaly in Burkina Faso," commented Dwayne L.
Melrose, President and CEO of Riverstone. "Riverstone has always considered the
Liguidi property to be very prospective for hosting a gold deposit."
The Liguidi property is situated along the Markoye Structural Trend, which
currently has numerous gold deposits which combined contain reported resources
in excess of 15 million ounces.
The RAB drilling targeted the most prospective areas of the Liguidi property,
which included the Quartz Float Zone, Three Hills, Lagare's Zone and Dassoui.
The gold soil anomaly represents one of the largest and strongest reported
continuously mineralized gold anomalies in Burkina Faso, and which is
characterized by highly anomalous gold values in excess of 100 ppb gold. The
gold soil anomaly remains open to the southwest.
Lagare's Zone is defined by mapping along the southern portion of the 13 km long
gold soil anomaly. The RAB drilling concentrated on a 6 km strike length of the
8 km long zone. Lagare's Zone is characterized by a linear series of historic
artisanal workings, along a shear zone that exposes interbanded volcanic and
sedimentary rocks, felsic dykes and quartz veins. The Dassoui is a parallel
trend to the south of Lagare, contains at least four anomalous zones from 200 to
800 m long.
The Quartz Float Zone is located in the north-central part of the Liguidi
property where grid based rock sampling over the gold soil anomaly defined four
large anomalies grading greater than 1.0 g/t, with the largest measuring 1,000 m
by 150 m. Over 20% of the samples collected ranged in grade between 1.01 and
6.88 g/t gold, with values as high as 15.81 g/t gold. The RAB drilling program
confirmed the size and extent of the anomalies of the Quartz Float Zone.
Work previously completed on the Wayalguin and the Three Hills areas located in
the far northern portion of the gold soil anomaly zone returned trench results
of 0.63 g/t gold over 111 m, including 18 m of 1.45 g/t gold and 18 m of 1.53
g/t gold. Follow up RC drill results of 16.5 m of 1.25 g/t gold, including 9 m
of 1.88 g/t gold, were obtained at Wayalguin and Three Hills.
A more complete summary of significant results in these RAB drill holes is
presented in the following table:
Hole From To Interval Au
Number (m) (m) (m) (ppb)
LMG-RAB-008 3 6 3 745
---------------------------------------------------------------------------
LMG-RAB-016 12 15 3 733
---------------------------------------------------------------------------
LMG-RAB-024 6 12 6 591
and 9 12 3 713
---------------------------------------------------------------------------
LMG-RAB-037 9 17 8 1175
---------------------------------------------------------------------------
LMG-RAB-042 0 15.5 15.5 1242
including 3 6 3 759
and 6 9 3 5071
---------------------------------------------------------------------------
LMG-RAB-066 3 9 6 615
---------------------------------------------------------------------------
LMG-RAB-070 0 3 3 740
---------------------------------------------------------------------------
LMG-RAB-090 0 3 3 892
---------------------------------------------------------------------------
LMG-RAB-094 0 3 3 714
---------------------------------------------------------------------------
LMG-RAB-095 3 4 1 2347
---------------------------------------------------------------------------
LMG-RAB-113 0 13 13 612
including 0 6 6 1282
---------------------------------------------------------------------------
LMG-RAB-124 3 6 3 683
---------------------------------------------------------------------------
LMG-RAB-125 9 15 6 548
---------------------------------------------------------------------------
LMG-RAB-133 3 9 6 1694
including 3 6 3 2580
---------------------------------------------------------------------------
LMG-RAB-180 3 6 3 760
---------------------------------------------------------------------------
LMG-RAB-185 0 8 8 781
including 6 8 2 2885
---------------------------------------------------------------------------
LMG-RAB-188 0 7.5 7.5 723
including 0 3 3 1644
---------------------------------------------------------------------------
LMG-RAB-232 0 11 11 1002
including 6 9 3 3269
---------------------------------------------------------------------------
LMG-RAB-256 0 3 3 1063
---------------------------------------------------------------------------
LMG-RAB-382 0 9 9 554
---------------------------------------------------------------------------
LMG-RAB-394 0 4 4 679
---------------------------------------------------------------------------
LMG-RAB-430 0 3 3 960
---------------------------------------------------------------------------
LMG-RAB-436 0 26 26 757
including 15 26 11 1690
---------------------------------------------------------------------------
LMG-RAB-437 12 15 3 606
---------------------------------------------------------------------------
LMG-RAB-497 12 18 6 602
---------------------------------------------------------------------------
LMG-RAB-499 0 23 23 819
including 0 18 18 1023
---------------------------------------------------------------------------
LMG-RAB-515 27 30 3 1435
---------------------------------------------------------------------------
LMG-RAB-523 0 24 24 1425
including 12 24 12 2784
---------------------------------------------------------------------------
LMG-RAB-527 0 27 27 431
including 15 24 9 798
---------------------------------------------------------------------------
LMG-RAB-538 0 23 23 882
including 3 15 12 1461
---------------------------------------------------------------------------
LMG-RAB-585 9 27 18 729
---------------------------------------------------------------------------
LMG-RAB-590 42 45 3 4143
---------------------------------------------------------------------------
LMG-RAB-613 3 6 3 2796
---------------------------------------------------------------------------
LMG-RAB-630 3 9 6 846
---------------------------------------------------------------------------
LMG-RAB-702 27 30 3 1001
---------------------------------------------------------------------------
LMG-RAB-703 15 21 6 992
---------------------------------------------------------------------------
LMG-RAB-711 0 12 12 587
---------------------------------------------------------------------------
LMG-RAB-713 3 12 9 577
---------------------------------------------------------------------------
LMG-RAB-718 9 12 3 872
---------------------------------------------------------------------------
LMG-RAB-735 0 22 22 795
---------------------------------------------------------------------------
LMG-RAB-736 15 20 5 835
---------------------------------------------------------------------------
LMG-RAB-802 6 19 13 611
---------------------------------------------------------------------------
LMG-RAB-864 0 46 46 450
including 6 33 27 677
or including 24 30 6 1977
---------------------------------------------------------------------------
LMG-RAB-869 0 46 46 465
including 24 36 12 1283
---------------------------------------------------------------------------
LMG-RAB-870 36 40 4 1228
---------------------------------------------------------------------------
LMG-RAB-872 0 16 16 607
---------------------------------------------------------------------------
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 Gold Project (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 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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