Vancouver, British Columbia–(Newsfile Corp. – January 28, 2021) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to announce the start of its first drilling program at the Cecilia Project is slated for early February 2021. The work program will test the un-drilled San Jose structure on the Cerro Magallanes target where recent sampling returned values up to 48.3 g/t gold over 0.75 m at surface (see press release of November 18, 2020). As project operator, Riverside Resources has planned a total of 6 drill holes designed to test down to 250 m in depth roughly between 2,200 m and 1,900 m elevation over the Cerro Magallanes rhyolitic dome. This target is one out of 5 major targets on the 7,000 hectares (70 sq. km) claim block in the prolific gold and copper mining region of northern Sonora, Mexico.
Riverside’s President and CEO, John-Mark Staude: “We are starting 2021 strong with an exciting drill program at the Cecilia Project. Recent exploration work has demonstrated the potential for high-grade gold mineralization at structural intersections namely the San Jose fault and the Agua Prieta structural corridor. Further work on the other target areas to come later this year as well as continued progress at additional Cerro Magallanes zones.”
Recent underground sampling has returned positive results, which demonstrate the value of drill testing the area of Cerro Magallanes. Additionally, geophysical survey work, primarily induced polarization and magnetics have highlighted the targets already identified by the field crews (see press releases dated September 21, 2020 and November 18, 2020). This work shows the significance of the northwestern and northeastern structures as fluid migration paths. The intersection of structures is often where gold bearing fluids are concentrated and could lead to discoveries of high-grade zones. Riverside and Carlyle have planned the drilling program to target, at depth, the high-grade gold system that was identified at surface during its first-phase exploration program (see press release of June 6, 2017).
These drill results are expected to increase our knowledge on potentially larger targets related to the dome margin complex, a deposit type known for hosting multi-million ounces of silver and gold. Analogs include projects such as La Pitarilla Deposit in Durango held by SSR Mining and the San Julian Mine of Fresnillo. While the mineralization at Cecilia is predominantly gold-rich, the flow-dome related Ag-Pb-Zn(-Au) deposits of north-central Mexico represent important geological models for exploration at Cecilia. Drilling of these potential targets will be tested in subsequent drill programs.
Figure 1: 3D block diagram of the Cerro Magallanes rhyolite dome target, showing vertical magnetic processing and a long-section along the San Jose Target which is intersected by the La Cueva/Agua Prieta northeast trending fault zone.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6101/72991_37c97cfae41ac893_002full.jpg
Qualified Person & QA/QC:
The scientific and technical data contained in this news release pertaining to the Cecilia 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.
Rock samples from the previous exploration programs discussed above at Cecilia were taken to the Bureau Veritas Laboratories in Hermosillo, Mexico for fire assaying for gold. The rejects remained with Bureau Veritas in Mexico while the pulps were transported to Bureau Veritas laboratory in Vancouver, BC, Canada for 45 element ICP/ES-MS analysis. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Standard samples were randomly inserted into the sample stream prior to being sent to the laboratory.
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.
[email protected]
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com
Raffi Elmajian
Corporate Communications
Riverside Resources Inc.
[email protected]
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/72991