Riverstone Continues to Intersect Numerous Higher Grade Gold Zones at the Kao Zone on the Karma Project
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/12/11 -- Riverstone Resources Inc. (TSX VENTURE: RVS)(OTCQX: RVREF)(FRANKFURT: 3RV) is pleased to report results from nineteen reverse circulation ("RC") drill holes on the 100% owned Kao Zone, which forms part of the company's flagship Karma Gold project in Burkina Faso, West Africa. (See Map at ). This drilling is part of a major on-going 90,000 metre Karma Project drill program designed to confirm the continuity of mineralization and also extend the mineralization to depth and along strike. These results have extended the known mineralization along strike in both directions and also down dip.
Mineralization at Kao has now been defined over a distance in excess of 850 metres north-south and 800 metres down-dip to the east. The deposit remains open down-dip and to the north-east and to the south. Several satellite zones remain to be drill tested.
Significant assay intervals are as follows:
"We are happy to see that numerous higher grade gold zones are extending the deposit along strike in both directions and down dip", commented Dwayne L. Melrose, President and COO of Riverstone. "The company will continue to extend and upgrade the resources for future engineering and economic studies that will be completed within 2012".
A more complete summary of significant results is presented in the following table:
The 100% owned Kao deposit is part of the company's Karma Project which comprises 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 an additional +40,000 metres on the Karma project, and it is expected that the results of this drilling will add to the overall 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 core 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 +1,400 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: 12.12.2011 - 14:00 Uhr
Sprache: Deutsch
News-ID 95926
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VANCOUVER, BRITISH COLUMBIA
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Mining & Metals
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