Riverstone Discovers New Mineralized Zone at Kao
01 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 seventy-one
reverse circulation ("RC") drill holes adjacent to the 100% owned Kao
exploration permit ("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 explore for new mineralized zones similar to that
discovered at Kao, and lying to the north, north-east and south of the main
deposit area (see map on the Riverstone website for the location of the holes:
http://www.riverstoneresources.com/i/maps/120920R3-120713_Kao_PortPlan.jpg).
Significant assay intervals in these RC holes include:
For the south extension area:
-- 1.80 g/t Au over 8 m in RC-325
-- 1.58 g/t Au over 10 m in RC-336
-- 1.20 g/t Au over 26 m in RC-265
-- 1.05 g/t Au over 14 m in RC-269
-- 16.0 g/t Au over 2 m in RC-282
-- 3.94 g/t Au over 2 m in RC-279
For the north-east reconnaissance area:
-- 3.67 g/t Au over 2 m and 1.16 g/t over 2 m in RC-297
-- 1.38 g/t Au over 2 m and 0.90 g/t over 10 m in RC-308
-- 0.96 g/t Au over 6 m including 1.72 g/t over 2 m in RC-216
-- 0.75 g/t Au over 10 m including 1.48 g/t over 4 m in RC-215
Mineralization in the main Kao deposit now extends over 1,500 metres in a
northeast-southwest direction and at least 900 metres down-dip to the east. The
recent drilling to the south has extended the mineralized zone by about 100
metres. The Kao deposit is remains open in all directions.
Drilling to the north and north-east of the main deposit was widely spaced, and
was more reconnaissance in nature. A newly defined zone of mineralization occurs
some 500 metres east of the northern extent of the main Kao deposit as presently
understood. Several of the holes within this 300 metre by 300 metre area
returned shallow intersections of material in excess of the presently projected
cut-off grade for oxide material. Further drilling will be completed to expand
and define this new zone.
"We are very pleased with the discovery of the new mineralized zone as the size
of the Kao deposit continues to grow," commented Dwayne L. Melrose, President
and CEO of Riverstone. "We have not yet found the limits of the Kao deposit and
there is very good potential to expand the mineralization to the north as the
gold in soil anomaly extends 4 kilometres further to the north. We expect to
have these results reflected in the upcoming resource update, slated to be
available for 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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Holes drilled within and to the south of the main Kao deposit:
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KAO-12-RC-265 132 158 26 1.20
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KAO-12-RC-269 70 84 14 1.05
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KAO-12-RC-270 148 150 2 2.84
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and 202 206 4 1.00
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KAO-12-RC-271 18 20 2 0.69
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KAO-12-RC-272 36 38 2 1.14
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and 154 156 2 1.21
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KAO-12-RC-274 164 166 2 0.51
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KAO-12-RC-275 140 146 6 0.44
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KAO-12-RC-276 132 134 2 0.73
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---------------------------------------------------------------------------
KAO-12-RC-277 58 60 2 1.10
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---------------------------------------------------------------------------
KAO-12-RC-279 64 66 2 3.94
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---------------------------------------------------------------------------
KAO-12-RC-280 14 18 4 2.56
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and 116 122 6 1.01
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and 162 172 10 0.85
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KAO-12-RC-282 182 184 2 16.0
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KAO-12-RC-284 32 42 10 1.15
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and 102 114 12 0.67
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and 144 158 14 0.70
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KAO-12-RC-285 116 122 6 1.25
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KAO-12-RC-312 56 58 2 3.03
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KAO-12-RC-314 102 114 12 0.56
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KAO-12-RC-316 82 116 34 0.50
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KAO-12-RC-317 82 86 4 0.93
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KAO-12-RC-320 102 104 2 0.58
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KAO-12-RC-322 48 50 2 1.92
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and 148 162 14 0.69
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KAO-12-RC-323 74 90 16 0.57
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and 156 168 12 0.53
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and 174 176 2 1.33
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KAO-12-RC-325 116 124 8 1.80
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and 124 130 6 0.57
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KAO-12-RC-332 42 44 2 0.72
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KAO-12-RC-333 16 18 2 1.81
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KAO-12-RC-336 90 100 10 1.58
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KAO-12-RC-340 106 112 6 0.85
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KAO-12-RC-341 106 110 4 0.70
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KAO-12-RC-344 20 24 4 0.56
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and 112 116 4 0.53
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KAO-12-RC-345 46 52 6 0.82
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KAO-12-RC-371 0 2 2 2.96
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KAO-12-RC-372 166 186 10 0.68
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KAO-12-RC-374 150 152 2 2.51
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KAO-12-RC-377 102 104 2 1.54
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Holes drilled north and north-east of the main Kao deposit:
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KAO-10-RC-215 42 52 10 0.75
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including 48 52 4 1.48
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KAO-10-RC-216 116 122 6 0.96
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including 116 118 2 1.72
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KAO-10-RC-218 24 30 6 0.68
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KAO-10-RC-219 114 116 2 0.84
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KAO-12-RC-292 26 30 4 1.62
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KAO-12-RC-293 64 70 6 0.54
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KAO-12-RC-294 44 54 10 0.55
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KAO-12-RC-295 44 46 2 0.83
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KAO-12-RC-296 24 32 8 0.48
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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-298 86 90 4 0.48
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KAO-12-RC-299 22 24 2 0.64
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and 72 76 4 0.53
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KAO-12-RC-300 34 38 4 0.58
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KAO-12-RC-301 102 108 6 0.73
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and 128 130 2 1.18
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KAO-12-RC-304 34 36 2 0.66
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KAO-12-RC-305 52 54 2 0.58
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KAO-12-RC-308 96 100 4 0.59
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and 130 140 10 0.90
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and 146 148 2 1.38
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Notes: Interpreted true thicknesses for these intercepts are between 90 and
100 percent, based on the geometry of the main deposit. The following drill
holes returned no significant intercepts: RC-273, 286, 287, 306, 309, 328,
329, 337, 369, 370, 373, 375, 376, 378, and 387, RC-217, 221, 252, 302, 303,
and 307.
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 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.
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.
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
Paul G. 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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