Riverstone Intersects High Grade Gold at Rambo Main
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Riverstone Intersects High Grade Gold at Rambo Main
Riverstone Resources Inc. (TSXV: RVS) is pleased to report the results from recent drilling on the Rambo Main gold deposit, which is one of four deposits that host NI43-101 compliant resources on the Karma gold project in Burkina Faso, West Africa. The Rambo Main deposit is located approximately 4 kilometres south of the Company’s promising Nami deposit. The holes were drilled to upgrade the current inferred resources to the indicated category and step out along the strike and dip of the known mineralization to test for possible extensions. (see plan map on Company website: http://www.riverstoneresources.com/i/maps/10RamboRCPlan.jpg) The highlights of the gold intercepts are as follows:
•24 metres grading 3.45 g/t, including 10 metres grading 5.93 g/t,
plus 20 metres grading 2.12 g/t, including 4 metres grading 7.47 g/t,
plus 10 metres grading 3.71 g/t, including 4 metres grading 7.03 g/t in Hole 031
•10 metres grading 13.83 g/t, including 4 metres grading 34.2 g/t in Hole 018
•12 metres grading 6.12 g/t, including 4 metres grading 13.85 g/t in Hole 029
•14 metres grading 6.06 g/t in Hole 030
•10 metres grading 3.34 g/t, including 6 metres grading 5.42 g/t in Hole 023
•34 metres grading 1.78 g/t, including 8 metres grading 5.34 g/t in Hole 025
•22 metres grading 1.02 g/t, including 14 metres grading 1.38 g/t in Hole 026
The key conclusions derived from the initial drilling of the site are:
•15 out of 16 drill holes intercepted significant gold values
•the Rambo Main gold deposit hosts substantial widths of high grade gold, confirming results from earlier drilling
•one to three gold zones were identified in each drill hole
•Gold mineralization is confined to quartz-rich zones within a breccia body at the contact between volcano sediments and an intrusive body
•the gold zones remain open along strike to the east and to depth where the thickness of the zone appears to be increasing
This phase of the overall 9,000 metre RC drill program on the Karma project comprised 1,670 metres in 16 drill holes on Rambo Main. Results confirm the previous interpretation of the geology of Rambo Main, with east-west trending volcano-sediments along the margins of an intrusive. The mineralized zone comprises quartz veins and breccia, and dips steeply towards the south. The gold zone can be traced consistently from hole to hole and section to section. An additional 870 metres in 9 holes has been drilled on Rambo to follow up on these positive results. Results from this second phase of drilling will be available next week.
Significant mineralized intercepts are presented in the following table. All holes were drilled towards the north. All holes were drilled at -55º or -60º.
Rambo Intercepts - 2010 - Phase 1 RC: http://www.irw-press.com/dokumente/RVS_Tabelle_280410_EN.pdf
The RC drill moved from the Rambo Main deposit to the Goulagou deposits and drilled 1,210 metres in 10 holes. The holes were drilled to test several promising RAB drill intercepts along strike from the Goulagou I and Goulagou II deposits.
The RC drill is currently back at the Nami artisanal site to follow up on the significant results returned from the initial drill program a few weeks ago. (See News Release April 21) A second rig, a diamond drill, is scheduled to arrive at the project site next week to undertake drilling at the Nami and Rambo deposits.
The Company’s Karma project is comprised of four separate gold deposits; the Rambo Main, Kao, Goulagou I and Goulagou II, which collectively contain 820,500 ounces of gold in the indicated category and 320,300 ounces of gold in the inferred category. Any ounces delineated at the Nami deposit will be accretive to the current resource.
Riverstone maintains a quality control program involving the use of repeat assays, inserted blanks and the use of certified standards from an accredited Canadian laboratory. All rock samples were assayed using standard fire assay with atomic absorption techniques, with samples grading over two grams gold per tonne re-assayed with a gravimetric finish, at the independent Abilab Burkina SARL laboratories in Ouagadougou, Burkina Faso, which is part of the ALS Chemex group.
Riverstone Resources Inc. is active in gold exploration in Burkina Faso, West Africa, where the company holds an extensive portfolio of six high quality exploration permits covering 2,300 square kilometres. For further information about the company and its activities, please refer to the company’s website at www.riverstoneresources.com and under the Company’s profile at www.sedar.com.
ON BEHALF OF THE BOARD
“Michael D. McInnis”
______________________________________
Michael D. McInnis, P. Eng., President & CEO
For further information contact:
Vancouver Office:
Michael D. McInnis, President 604-801-5020
Email: info(at)riverstoneresources.com
Raju Wani, Investor Relations 403-240-0555
Neither 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.
Paul G. Anderson, P. Geo. is a Qualified Person for RVS and has reviewed and approved the contents of this release.
Certain statements made and information contained in this news release and elsewhere constitutes “forward-looking information” within the meaning of the Ontario Securities Act. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development results will not be consistent with the Company’s expectations, accidents, equipment breakdowns, title matters and surface access, labour disputes, the potential for delays in exploration activities, the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, failure to obtain adequate financing on a timely basis and other risks and uncertainties, including those described under Risk Factors in each management discussion and analysis. In addition, forward-looking information is based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long term price of gold, that the Company will receive required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour and that the political environment within Burkina Faso will continue to support the development of environmentally safe mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements.
Leseranfragen:
Riverstone Resources
1125 - 595 Howe Street
Vancouver, BC
Canada V6C 2T5
Datum: 28.04.2010 - 16:11 Uhr
Sprache: Deutsch
News-ID 19873
Anzahl Zeichen: 0
contact information:
Town:
Wien
Kategorie:
Business News
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