Riverside Resources & Partner Morro Bay Resources Drill 251.2 g/t Silver & 0.79 g/t Gold Over 9.5 Metres at the Penoles Gold-...
23 June 2014 - 10:25PM
Marketwired
Riverside Resources and Partner Morro Bay Resources Drill 251.2 g/t
Silver and 0.79 g/t Gold Over 9.5 Metres at the Penoles Gold-Silver
Project in Durango, Mexico
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 23, 2014) -
Riverside Resources Inc. ("Riverside" or the "Company")
(TSX-VENTURE:RRI)(PINKSHEETS:RVSDF)(FRANKFURT:R99), is pleased to
announce the results from an additional six (6) drill holes that
were completed at the recently discovered Jesus Maria South Zone
(the "Zone") at the Peñoles Project (the "Project") in Durango,
Mexico. The Company believes that these results confirm the
continuity and extent of the near surface Zone away from areas of
historic mining.
The assay results included the following highlighted
intervals:
- 9.5 m interval averaging 251.2 g/t silver and 0.79 g/t gold (JM
DDH 14-27)
- 15.85 m interval averaging 123.7 g/t silver and 0.22 g/t gold
(JM DDH 14-25)
- 6.25 m interval averaging 304.6 g/t silver and 0.17 g/t gold
(JM DDH 14-26)
The final six holes of the program were drilled over a strike
length of approximately 200 metres, to the east of JM DDH 14-24
(see Riverside's press release dated June 9, 2014), and
successfully demonstrated good continuity of mineralization at the
Jesus Maria South Zone. The area tested by these six holes lies
within the area where Jesus Maria and Jesus Maria South start to
merge (see Figure 1). All six holes (JM DDH 14-25 through JM DDH
14-30) encountered significant mineralization, as can be seen in
the table below:
Hole ID |
From (m) |
To (m) |
Interval (m) |
Au (g/t) |
Ag (g/t) |
Pb (%) |
Zn (%) |
JM DDH 14-25 |
20.10 |
35.95 |
15.85 |
0.222 |
123.7 |
0.02 |
0.05 |
and |
52.20 |
72.05 |
19.85 |
0.350 |
70.1 |
0.90 |
0.13 |
JM DDH 14-26 |
11.00 |
17.25 |
6.25 |
0.176 |
304.6 |
0.04 |
0.06 |
and |
33.65 |
50.20 |
16.55 |
0.453 |
54.5 |
0.65 |
0.78 |
including |
33.65 |
41.00 |
7.35 |
0.817 |
109.5 |
1.29 |
1.32 |
JM DDH 14-27 |
1.95 |
39.00 |
37.05 |
0.395 |
125.05 |
0.12 |
0.13 |
including |
15.95 |
25.45 |
9.50 |
0.794 |
251.2 |
0.20 |
0.16 |
including |
29.95 |
37.10 |
7.15 |
0.482 |
190.1 |
0.24 |
0.16 |
JM DDH 14-28 |
14.40 |
38.70 |
24.30 |
0.334 |
39.65 |
0.02 |
0.10 |
including |
32.10 |
36.55 |
4.45 |
0.297 |
122.5 |
0.04 |
0.27 |
JM DDH 14-29 |
7.35 |
28.45 |
21.10 |
0.129 |
34.2 |
0.03 |
0.08 |
and |
37.30 |
43.75 |
6.45 |
0.209 |
77.8 |
0.05 |
0.13 |
JM DDH 14-30 |
16.80 |
56.90 |
40.10 |
0.188 |
55.2 |
0.05 |
0.12 |
including |
25.05 |
29.75 |
4.70 |
0.386 |
136.7 |
0.16 |
0.18 |
including |
41.50 |
45.25 |
3.75 |
0.259 |
164.4 |
0.14 |
0.14 |
All reported intervals are core lengths, true widths have
not yet been determined
Riverside's President and CEO, John-Mark Staude stated,
"Riverside is pleased with the final results of this latest
round of drilling at the Jesus Maria South Zone, with all holes
intersecting a consistent trend, grade and estimated width. We are
very pleased with all of the progress and partner funded
exploration and drilling that has taken place at the
Peñoles Project,
and believe there is still significant upside and growth potential
with a number of compelling targets either untested, or open in
multiple directions."
To view Figure 1: Drill Hole Location Map, please visit the
following link:
http://media3.marketwire.com/docs/PenolesProject.pdf
About the Peñoles Project:
The Peñoles Project is located in the Durango silver-gold belt
in north-central Mexico and is currently owned 100% by Riverside.
The recently completed drill program was conducted pursuant to a
commitment by Morro Bay Resources Ltd. ("Morro Bay") to perform
$750,000 of exploration work on the property during the first part
of 2014. Morro Bay can complete its option to earn an initial
51-per-cent interest in the property by paying USD$1.35-million in
cash to Riverside and paying USD$1.5-million worth of Morro Bay
shares (or cash at Morro Bay's option, provided that if the market
value of the Morro Bay shares is less than five cents based on a
30-day volume-weighted average price, such payment must be made in
cash) by June 30, 2014.
Riverside News and Updates:
For those wishing to receive Riverside news directly to their
inbox, please click the following link: Riverside Mailing List
Qualified Person and QA/QC:
The scientific and technical data contained in this news release
pertaining to the Peñoles Project was reviewed by Howard Davies,
MAIG - VP Exploration, a non-independent qualified person to
Riverside Resources, who is responsible for ensuring that the
geologic information provided in this news release is accurate and
who acts as a "qualified person" under National Instrument 43-101
Standards of Disclosure for Mineral Projects.
According to Morro Bay, all drill cores were placed in numbered
boxes and transported to Morro Bay's secure core facilities by the
drill contractor. Following detailed core logging all core was
split using a diamond bladed core saw under the direct supervision
of Morro Bay's geologic staff with half of the core kept on site in
the original core boxes. All drill samples were sealed in numbered
plastic bags and transported to Inspectorate America Assay labs
facility in Durango City for prep work and analyzed at their
facilities in Reno. Inspectorate America is certified for the
provision of assays and geochemical analysis (ISO:9001-2008). All
samples were prepared using standard industry prep methods followed
by fire assay analysis and aqua regia digest for trace elements.
All samples with greater than 10 g/t Au or 100 g/t silver were
additionally tested by fire assay with a gravimetric finish. Morro
Bay has included appropriate industry certified standards and
blanks within the drill core sample stream in addition to the
standards and duplicates included as part of the Inspectorate QA/QC
program.
About Riverside Resources Inc.:
Riverside is a well-funded prospect generation team of focused,
proactive precious and base metal discoverers with the breadth of
knowledge to dig much deeper. The Company currently has more than
$4,500,000 in the treasury and approximately 37,000,000 shares
outstanding. The Company's model of growth through partnerships and
exploration uses the prospect generation business approach to own
resources, while partners share in de-risking projects en route to
discovery. Riverside has additional properties available for option
with more information available on the Company's website at
www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
"John-Mark Staude"
Dr. John-Mark Staude, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Riverside Resources Inc.John-Mark StaudePresident & CEO(778)
327-6671(778) 327-6675www.rivres.comRiverside Resources Inc.Joness
LangManager, Corporate Developmentjlang@rivres.com(778)
327-6675(877) RIV-RES1www.rivres.com
Riverside Res (QB) (USOTC:RVSDF)
Historical Stock Chart
From Oct 2024 to Nov 2024
Riverside Res (QB) (USOTC:RVSDF)
Historical Stock Chart
From Nov 2023 to Nov 2024