Riverside Resources Partner Centerra Gold Advances Glor Project With Funded Program and Preparatory Drilling Work
Riverside Resources Partner Centerra Gold Advances Glor Project With
Funded Program and Preparatory Drilling Work
VANCOUVER, British Columbia, Nov. 01, 2017 -- Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V:RRI),
is pleased to announce an update of the exploration work being done at the Glor Gold Project (the “Project”) in Sonora,
Mexico. Positive results obtained by Riverside’s summer program of geological mapping and rock sampling (up to 14.4 g/t Au)
have encouraged partner, Centerra Gold Inc. (“Centerra”), to work up additional geophysical and extensive soil geochemistry
surveys designed to focus the selection of drill targets in the central part of the Project. Centerra has been funding exploration
at Glor since August, 2016, having entered into an option agreement with Riverside to earn a 70% interest in the Project (see
press release, July 26, 2016). The ultimate goal of go-forward exploration and drilling programs at Glor is to discover a gold
deposit amenable to open-pit mining with heap leach processing; similar in nature to the multi-million ounce deposits being
mined in this same part of Sonora at the El Chanate, San Francisco and La Herradura gold operations.
The new exploration work, which has already been initiated, consists of an 850-sample soil geochemistry survey, a detailed
ground magnetics survey covering an area of 210 hectares, a second magnetics survey of 80 line-kilometers that adjoins a
previously completed survey, and an induced polarization survey of 14 line-kilometers that will be done in the same area as the
soil survey and detailed magnetics survey. A full surface and exploration access agreement was recently signed with the
leaders of the San Lucas communal lands, or e jido, which covers most of the western part of the Glor Project. In addition, the
Project was granted a work permit by the Mexican environmental agency SEMARNAT that allows for drilling and other
mechanized exploration work to be done in the targeted areas.
Riverside’s President and CEO, John-Mark Staude, stated: “We are pleased with the expanded exploration programs at
our Glor Project with Centerra. The gold targets we are defining have large-scale potential and fit the shear zone model that
projects at low angles beneath shallow alluvial cover. Our field teams are working closely with senior Centerra geologists and
consultants, and we look forward to a second drill program commencing in the near future.”
Riverside’s most recent mapping and rock sampling program focused on the 3 km by 1.5 km Puerto El Alamo target area in
the central part of the Glor Project. Exposed on hillsides in the area is a Jurassic sequence of clastic sedimentary rocks and
andesite volcanic formations which is buried under younger sedimentary rocks and extensive alluvial deposits found south of a
northwesterly striking regional fault. The volcanic rock is one of the main host-rocks for gold mineralization, and a number of
prospector pits were found on shear zones in this lithology. Since mid-July of this year some 396 rock-chip samples were
collected and analyzed for gold and 45 other elements. Approximately 9% of these samples returned gold assays greater than
0.3 g/t Au, with 16 samples assaying 1.0-24.0 g/t Au. The sample with the highest gold grade (24.0 g/t Au) was a select
sample collected from a 30 cm wide, lead sulphide-bearing quartz vein a few tens of meters in length. A more significant
sample that assayed 14.4 g/t Au was chip-channeled across a 1.2 m wide shear zone showing pervasive iron carbonate-
sericite alteration cut by quartz veinlets.
The exploration work to-date has developed several target areas and Riverside’s partner remains committed to thoroughly
exploring the Project to establish additional high-potential drill targets. Preliminary drill target locations have already been
developed and the Company will provide further updates as the next phase of exploration progresses towards a drill campaign.
Qualified Person & QA/QC:
The scientific and technical data contained in this news release pertaining to the Glor Project was reviewed and approved
by Ron Burk, P. Eng, 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.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company that is driven by value generation and discovery. The company has
approximately $4,000,000 in cash, less than 45M shares issued and a strong portfolio of gold-silver and copper assets in
North America. Riverside has extensive experience and knowledge operating in Mexico and leverages its large database to
generate a diverse portfolio of properties. In addition to Riverside’s own exploration spending, the Company also aims to
diversify risk by securing joint-venture and spin-out partnerships to generate more discovery chances and advance multiple
assets simultaneously. 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.
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Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.