Riverside Completes Helicopter Magnetics Survey on the Duc Project, Progressing District Targeting in the Wawa Subprovince of Ontario
Riverside Completes Helicopter Magnetics
Survey on the Duc Project, Progressing
District Targeting in the Wawa Subprovince of
Ontario
Vancouver, British Columbia--(Newsfile Corp. - June 1, 2023) -
Riverside Resources Inc.
(TSXV:
RRI) (OTCQB: RVSDF) (FSE: 5YY)
("Riverside" or the "Company")
,
is pleased to announce it has
completed an airborne geophysical helicopter magnetics survey on the Duc Project in northwestern
Ontario progressing this important project in Riverside's Canada portfolio. The Duc Project is located
south of the town of Kapuskasing in the highly prospective Porcupine Mining District, which hosts a
number of orogenic gold deposits and critical metals projects. Magnetics is a well-established method
for defining geological boundaries and delineating geological structures, particularly faults and shears,
which are typically the host for precious metal mineralization and showing features typical of critical
metals exploration in this part of the greenstone belt.
The magnetic results are interpreted to show two major parallel shears that extend north-easterly through
the central part of the Duc Project with the magnetic high defining the mafic rocks which have iron that
can be part of a catalyst for gold and critical metals deposition.
The compilation of magnetic data and
existing geochemistry from past drilling and sampling demonstrates potential scale and prospectivity for
near surface mineralization continuing downward and eastward. This new survey helps to refine areas for
more detailed Induced Polarity (IP) geophysics surveys which will be evaluated during this upcoming
field season. IP is an excellent method to delineate sulphide mineralization and help vector in on drill
targets. Specifically, the survey focuses on targeting boundary areas and favorable geological features.
Riverside's President and CEO, John-Mark Staude stated: "The Magnetics survey has highlighted
multiple areas of interest and suggests historical work overlooked a significant opportunity within the
central part of the Project. As most of the terrain is thinly covered by glacial till, this survey provides us
with valuable data that will be incorporated into our exploration models and support next steps as we
progress further at Duc."
Summary of Results and Technical Observations
The Project is underlain by an Archean-aged metavolcanic and metasedimentary suite consisting of
greywacke, arkose, and iron formation. To the west and north the terrain is underlain by east-west
striking metasedimentary schists and mafic metavolcanic flows belonging to the Quetico Subprovince.
The south and east areas of the Project are underlain by a black, medium-grained rock described as
peridotite by previous explorers and is a greenstone unit which can be a favorable reactive host rock.
The boundary between is a highly prospective geologic boundary that could host major mineralization
potential.
Peridotite igneous rock is important because it can host platinum group elements (PGE)
mineralization and is a critical metal which previous drilling found and now this survey shows Riverside
has a large volume that is prospective from this magnetic work. There are several significant structures
and geological contacts that are highlighted in the survey. Past basal till drilling and diamond drilling
suggests there are a several fault-bounded units striking northeast within the Project area and are
highlighted by the survey. These parallel northeast trending fault structures, which include the Rufus Lake
and Lepage faults, have been shown to host gold mineralization in the district and represent a key target
element for this Project.
The Company originally considered conducting ground-based geophysics, however SHA Geophysic's
Heli-3G technology provides excellent results and is significantly less expensive than a ground survey.
Detailed geological mapping and induced polarization (IP) surveys over the peridotite and fault bounded
units are the most likely next follow-up exploration steps to refine priority drill targets.
Figure 1: First Vertical Derivative, Heli-3G magnetics survey with interpreted geology and
cross section line.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/168321_afe9cc1b242e3ac6_002full.jpg
Magnetic Survey
The survey was conducted by SHA Geophysics using their Heli-3G, 3-axis magnetic gradiometer system
completing line spacing of 75m and a total of 112-line kilometers of survey.
This type of helicopter survey
uses SHA's latest technology and sensors to get clean and consistent data.
The vertical gradient accentuates shorter wavelengths and attenuates longer wavelengths. As a result,
the map enhances the anomalies associated with small near-surface magnetic sources while
suppressing large-scale regional variations. The vertical gradient presentation provides added visual
detail, particularly for small anomalies superimposed on or adjacent to larger anomalies.
Figure 2: Simplified cross section based on the new magnetics data and preliminary mapping.
Drill holes are 200 meters west of section line and projected in with their gold values as
previously disclosed.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/168321_afe9cc1b242e3ac6_003full.jpg
Qualified Person (QP):
The scientific and technical data contained in this news release was reviewed and approved by
Freeman Smith, P.Geo, a non-independent qualified person to Riverside Resources, who is responsible
for ensuring that the geologic information provided within this news release is accurate and who 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 exploration company driven by value generation and discovery. The Company
has over $8M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver
and copper assets and royalties in North America. Riverside has extensive experience and knowledge
operating in Canada and Mexico and leverages its large databases to generate a portfolio of
prospective mineral properties. In addition to Riverside's own exploration spending, the Company also
strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets
simultaneously and create more chances for discovery. Riverside has properties available for option,
with 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
For additional information contact:
John-Mark Staude
President, CEO
Riverside Resources Inc.
Phone: (778) 327-6671
Fax: (778) 327-6675
Web:
www.rivres.com
Mehran Bagherzadeh
Corporate Communications
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web:
www.rivres.com
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.
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