Riverside Reports on the First Phase of Drilling at the Cuarentas Gold Project, Sonora, Mexico
Riverside Reports on the First Phase of
Drilling at the Cuarentas Gold Project, Sonora,
Mexico
Vancouver, British Columbia--(Newsfile Corp. - January 12, 2021) -
Riverside Resources Inc.
(TSXV:
RRI) (OTCQB: RVSDF) (FSE: 5YY)
("Riverside" or the "Company")
is pleased to announce that
drill results from the first four of nine holes drilled at the Cuarentas Project (the "Project") have been
received and are reported below. The primary focus of this initial drill program targeted the Santa
Rosalia area with a total of 9 holes (1,500 m). All drill holes intersected the mineralized structure along
the 400 m strike-length. Drilling suggests some displacement has occurred between the high-grade
surface sampling of old mining areas and the at depth drill intersections. The results have led Riverside
to reinterpret this area and apply these findings to the other three target areas. From the first 9
exploration holes the best intercept was from drill hole LC20-001 which returned of 1.04 g/t Au over 3.44
m starting at 66.6 m down hole. Complementary exploration work carried out during the drill campaign
show increasing promise for other target areas and will be reported once data review is completed.
Drill Intersection Highlights:
Hole_ID
From
To
Interval
(m)
Au g/t
Ag g/t
% Cu
% Pb
% Zn
LC20-001
66.6
71.36
3.44
1.04
57.8
0.09
0.17
0.27
including
69
70.4
1.4
1.8
82
0.2
0.4
0.58
LC20-002
90.3
91
0.8
0.4
18.8
0.03
0.06
0.07
LC20-003
67.9
68.4
0.5
0.9
3.1
<0.01
<0.01
<0.01
LC20-003
110.6
111.9
1.3
0.9
105.9
<0.01
<0.01
<0.01
LC20-004
99
100.5
4.55
0.36
1
<0.01
<0.01
<0.01
LC20-005
138
139.5
1.5
0.2
2.4
<0.01
<0.01
<0.01
LC20-008
88.5
95.5
7
0.15
17.5
0.06
0.17
0.23
LC20-009
139.43
140.02
0.59
0.17
18.7
0.24
0.13
0.1
Riverside's President and CEO, John-Mark Staude, stated:
"
We are pleased to have drill-tested
the Santa Rosalia target, which is only the first of four target areas along a 2.5 km mineralized trend.
Results have demonstrated a structural complex environment that Riverside's team is reviewing and
using for refining and developing more targets that we look forward to testing in the coming months at
Cuarentas
."
Post-mineral faulting of the high-grade surface vein (2.1 m @ 21.9 g/t Au) at the former Santa Rosalia
mine has been intercepted with the drilling and the revised structural interpretation now shows some
offset in mineralization. The drill core assays from this campaign returned anomalous base metals (Cu,
Pb, Zn) as well as the minerals gypsum and pyrite which could relate to a nearby porphyry Cu style
system. The Laramide age rocks at the property may host a higher temperature, porphyry Cu system
laterally or at depth on Riverside's mineral tenure.
Figure 1: Interpretative cross section of Santa Rosalia Mine including drilling results from
October and November 2020. Tilting of the down dropped blocks shows an angular offset from
the faulted off vein. Channel samples taken by Riverside in 2020 (see press release October 8,
2020).
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6101/71790_4e0a90fa54162a1a_002full.jpg
The geologic cross section from the Santa Rosalia drill program shows a post mineral fault not visible on
surface that has offset the vein (see
Figure 1
above). This displacement between the northern and the
southern block can be tested with further drilling as it is believed the vein could be displaced downward
on the south side of the Testerazo Fault zone. This type of structural modification by post-mineral Basin
and Range tectonics is common in the region and will need to be incorporated into working models as
exploration advances. At the Mercedes Mine immediately to the west, significant economic discoveries
have been found along reactivated faults and adjacent to stable blocks beneath post-mineral cover and
should be considered in future modelling at Cuarentas. At the Cuarentas Project, recent surface work
has shown variable and relatively thin post-mineral volcanic cover within the southern block. This leads
Riverside to believe that a preserved system exists within the block to the south. Evidence for this was
discovered within erosional windows at lower elevations where high-grade gold samples are
documented by historical explorers.
The other three targets at Cuarentas include the Sombrero, the Central and the Santa Rosalia targets,
which have not been drill tested. These areas show extensive alteration, favorable geology,
mineralization and will be part of a second phase of exploration drilling at the Cuarentas Project.
Qualified Person & QA/QC:
The scientific and technical data contained in this news release pertaining to the Los Cuarentas Project
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 in this news
release is accurate and who acts as a "qualified person" under National Instrument 43-101 Standards of
Disclosure for Mineral Projects.
Core samples collected at Cuarentas were taken to the Bureau Veritas Laboratories in Hermosillo,
Mexico for sample preparation and fire assay analysis for gold and silver. The rejects remained with
Bureau Veritas in Mexico while pulps were transported to Bureau Veritas' laboratory in Vancouver,
Canada for 45 element ICP/ES-MS analysis. A QA/QC program was implemented as part of the
sampling procedures for the exploration program. For the drilling program standards, blanks and
duplicate samples were inserted every 20 samples into the sample stream prior to the sample batches
being sent to the laboratory in Mexico.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company
has no debt and less than 69M shares outstanding with a strong portfolio of gold-silver and copper
assets 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 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
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/71790