Riverside Resources and Partner Mexigold Corp.Identify Two New Gold
posted on
Oct 11, 2011 03:44PM
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 11, 2011) - Riverside Resources Inc. ("Riverside" or the "Company") (TSX VENTURE:RRI)(PINK SHEETS:RVSDF)(FRANKFURT:R99) is pleased to report that two new target areas have been identified through the recent drill targeting, trenching, and soil geochemical program at the Catrina Gold Project in Durango, Mexico. Riverside and partner Mexigold Corp. (TSX VENTURE:MAU) completed an extensive soil sampling program consisting of 856 samples within an area of 4 km by 4 km. Laboratory results have now been received and the sampling has confirmed the persistence of four previously identified exploration targets (Catrina, La Dura, Patos and El Bordo), and revealed two new target areas (El Palmito and El Jaspe). These targets have gold, silver, indicator metal and mineral associations typical for epithermal breccia pipes and hydrothermal systems. Mine areas with similar associations in the region include Penasquito (Goldcorp), San Sebastian (Silver Standard) and Guanacevi (Endeavor Silver).
An analysis of the soil geochemistry values in relation to previously completed geological mapping, sampling and IP/magnetic geophysical results identified several high priority targets for follow-up. An excavator was recently mobilized to the property and surface trenching, detailed rock chip sampling and mapping was initiated. The Company is awaiting initial assays from the trenching program which will be used to finalize targets for an upcoming drill program. Nine trenches were made at Catrina for 2,280 m of total trenching. Seven of the nine trenches were made at the Catrina target and two at La Dura. A total of 904 trench assay samples were collected and are currently being assayed.
"The recent work at Catrina has expanded and refined existing targets while generated new targets areas on this gold-silver Project," stated John-Mark Staude, President and CEO of Riverside Resources Inc. "This work brings the Project to a drill-testing stage and we anticipate drilling to begin once Mexigold finalizes their targeting strategies and we complete a site review later this month," added Staude.
Results for each target are as follows:
These targets have characteristics similar to mine areas within the Mesa Central region where substantial investment and abundant exploration activity are currently taking place. For more information please visit www.rivres.com.
Assaying and Qualified Person:
The scientific and technical data contained in this news release were prepared under the supervision of Mark J. Pryor, Pr.Sci.Nat, an independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided in this news release is accurate and acts as a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Riverside Resources Inc.:
Riverside is a well-funded prospect generation team of focused, proactive gold discoverers with the breadth of knowledge to dig much deeper. The Company currently has approximately $10,000,000 in the treasury and fewer than 35,000,000 shares issued. Riverside's model of growth through partnerships and exploration looks to use the prospect generation business approach to own resources, while partners share in de-risking projects on route to discovery. Additional property information on the Company's projects can be found on the Riverside Resources Inc. website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
Dr. John-Mark Staude, President & CEO
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward looking terminology (e.g., "expect", "estimates", "intends", "anticipates", "believes", "plans"). Such information involves known and unknown risks -- including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
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.