Riverstone Intersects 1.33 g/t Au over 52 Metres on the Karma Project
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/07/11 -- Riverstone Resources Inc. (TSX VENTURE: RVS)(OTCQX: RVREF)(FRANKFURT: 3RV) is pleased to report results from a further 21 Reverse Circulation ("RC") drill holes on the Goulagou I Zone, which forms part of the Company's flagship Karma Gold project in Burkina Faso, West Africa. (See Map at ). This drilling was designed to infill the deposit at 50 metre spacing and also to expand the mineralized zone along strike. These latest results have extended the Goulagou I deposit a further 150 metres to the west, and the deposit remains open along strike in both directions and at depth. Mineralization has been extended to a distance in excess of 2,100 metres on this deposit and the width of the mineralized zone varies from 50 metres at the east end up to 300 metres in the west.
Significant assay intervals are as follows:
"We are impressed to see higher grade gold mineralization that extends the overall strike length of the Goulagou I deposit which continues to be expanded and it is still open along strike," commented Dwayne Melrose, President of Riverstone. "Riverstone is systematically expanding and defining the deposit for the upcoming future resource estimation."
Significant results are presented in the following table:
The Goulagou I deposit is part of the Karma Project which comprises six contiguous permits. The Company has a 100% interest in two of the permits and has an option to acquire an indirect 90% interest in the remaining four permits. The Karma Project has a NI 43-101 compliant gold resource of 810,600 ounces of gold in 22,845,000 tonnes grading 1.10 g/t gold in the indicated category and 1,119,100 ounces of gold in 44,100,000 tonnes grading 0.79 g/t gold in the inferred category. (See news release dated February 28, 2011). Since the resource was calculated in February 2011, the Company has drilled in excess of an additional 40,000 metres at Karma, and it is expected that the results of this drilling will add to the resource. The Goulagou property is subject to an Option to Purchase agreement with Golden Star Resources Ltd.
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 RC samples were assayed using standard fire assay with atomic absorption techniques, with samples grading over one gram 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 three high quality exploration projects covering 1,452 square kilometres. For further information about the Company and its activities, please refer to the Company's website at and under the Company's profile at .
ON BEHALF OF THE BOARD
Michael D. McInnis, P. Eng., CEO
Giles R. Peatfield, Ph.D., P. Eng,. is the 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.
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.
Contacts:
Riverstone Resources Inc. - Vancouver Office
Dwayne L. Melrose
President
604-801-5020
Riverstone Resources Inc. - Vancouver Office
Don Mosher
Corporate Development
604-685-6465
Riverstone Resources Inc.
Raju Wani
Investor Relations
403-240-0555
Riverstone Resources Inc. - Vancouver Office
Ron Cooper
Investor Relations
604-986-0112
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Datum: 07.12.2011 - 14:10 Uhr
Sprache: Deutsch
News-ID 94695
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VANCOUVER, BRITISH COLUMBIA
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Mining & Metals
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