Riverside Expands Drilling Program at Oakes Gold Project, Ontario and Provides Update on Initial Findings
Riverside Expands Drilling Program at Oakes
Gold Project, Ontario and Provides Update on
Initial Findings
Vancouver, British Columbia--(Newsfile Corp. - April 5, 2022) -
Riverside Resources Inc.
(TSXV:
RRI) (OTCQB: RVSDF) (FSE: 5YY)
("Riverside" or the "Company")
is pleased
to announce that
the Company has expanded its drilling program at the Oakes Project in Ontario, Canada. The Company
initiated the program in March with a planned 1500 metres ("m") of drilling and has now completed 1705
m across 12 drill holes. The drill program was designed to test IP geophysical anomalies that were
defined through Riverside's 2021 program and coincided with anomalous surface geochemical
sampling completed by Riverside.
Drilling is now complete with logging, core cutting and sampling now underway. The Company has
shipped the first three holes to ACT Labs in Thunder Bay for analysis and is expecting to have all core
samples delivered to ACT Labs during April. Assay results are expected later in Q2, 2022 and will be
released once reviewed and interpreted.
Observations from the core to this point is consistent with surface findings showing similar patterns of
mineralization and lithologies from hole to hole along the HG Target, where the initial seven drill holes
were focused (see Press Release March 3, 2022). The mineralized zone is described as a quartz-
carbonate veining system characterized by disseminated to semi massive pyrite, pyrrhotite, chalcopyrite
mineral assemblage (see
Photo 1
below). These observations are similar to the mineralization noted in
the previously completed sampling which returned anomalous values for gold.
Photo 1: Close-up pictures of drill core from hole 5 and semi-massive sulfides from hole 7.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6101/119254_167e054bf4f2c83d_002full.jpg
Figure 2: Initial cross-section schematic sketch interpreted block diagram of the logged
intercept in hole Oakes-22-05 from the 2022 RRI drilling campaign. Red lines correspond to the
veining crosscut in the drilling.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/6101/119254_167e054bf4f2c83d_003full.jpg
Note: The above sketch is not to scale and does not include data from holes that have not been logged, final interpretations are subject to change.
Riverside's President and CEO, John-Mark Staude:
"
We are delighted with the excellent
contractors and team working with Riverside on our Oakes exploration campaign, completing the
program safely and finding encouraging geology and sulfide zones. These first insights from our
drilling program suggest we have intersected the likely source of the geophysics and are seeing
shears and stringers that look similar to mineralized areas 20 km west at the Greenstone Mine and
Geraldton Mining district. Samples are being processed and will be sent to the lab. Riverside's team
will be working on detailed logging of the split core and preparing the next stages for our
exploration
campaign."
The simplified geological interpretation from the drilling to date suggests that sulfide mineralization (and
possibly gold) is associated with shearing near or at the geological boundary between gabbroic sills and
Archean-aged mafic volcanics comprising flows, tuffs and pillow basalts. Intercalated sediments and
volcanics are also often mineralized and will be assayed to determine if gold is present. The expanded
drill program has primarily tested only one target area (HG) plus two orientation drill holes into two other
targets as is shown on the Company website:
Click here
.
Click the link to watch the CEO video interview -
Riverside Commences Self-Funded Drill Program at
the Oakes Gold Project, Canada
Qualified Person & QA/QC:
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 $4.5M 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 Mexico and Canada and leverages its large database 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
Raffi Elmajian
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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