Vancouver, British Columbia–(Newsfile Corp. – November 18, 2020) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”) provides an update on the latest channel sample results received from the Cerro Magallanes targets at the Cecilia Project (“the Project”). Riverside and partner Carlyle Commodities Corp. find more high-grade gold at surface increasing confidence in the interpretation of the structural control for mineralization. Surface work has helped the Company define and detail a 7-hole drill program for 1,500 m over the primary structural zones at the San Jose, North Breccia and Central targets at the Project.
Riverside’s President and CEO, John-Mark Staude, stated: “Our exploration teams continue to deliver strong results in the field with our partner Carlyle Commodities Corp and we look forward to drill with them at Cecilia shortly.”
Latest sampling and targeting results are highlighted below:
- Channel samples yielding up to 48.3 g/t Au over 0.75 m at the San Jose Target (see Table 1 below). The 36-sample batch with over 43% of the gold assays higher than 0.2 g/t Au. All samples were collected using a hand saw to ensure continuity and thickness of reported grade-intervals. This latest batch of samples is from brecciated and silicified rhyolite from underground workings as well as at surface, which collectively form part of the La Cueva structural corridor parallel to the main San Jose fault. Recent results sampled along the San Jose structure, in September 2020 returned 43.2 g/t Au over 0.40 m (out of 21 samples; see press release of September 21, 2020).
Table 1: Sample results from the November 10th channel sample batch at San Jose target
| Sample # | Au (ppm) | Target | Channel Thickness | Rock Type |
| RRI-32975 | 48.3 | San Jose | 0.75-m channel | Underground silicified fluidal rhyolite |
| RRI-32997 | 0.86 | San Jose | 1.70-m channel | Silicified breccia |
| RRI-32976 | 0.78 | San Jose | 0.85-m channel | Underground silicified breccia |
| RRI-32978 | 0.66 | San Jose | 1.60-m channel | Silicified breccia |
| RRI-32974 | 0.66 | San Jose | 0.80-m channel | Underground silicified breccia |
| RRI-32998 | 0.56 | San Jose | 1.25-m channel | Silicified fluidal rhyolite |
By incorporating surface data and geophysics survey (Magnetic and Induce Polarization), Riverside’s geologists were able to provide a better understanding of the structure for targeting of the mineralization. Hosts and feeder zones of the mineralization throughout the rhyolitic dome is controlled by both northwest and northeast structural corridors. Mapping and sampling have delineated a 600-m long high-grade zone open along trend, called the Agua Prieta structural zone (see Figure 1B below). The trend is notable by its reddish-oxide stained rocks outcropping prominently along the eastern slope of the dome. Intersections between feeders and dome margins, as indicated by the magnetic survey correlate with the Central and North Breccia targets, which returned high-grade gold assays from previous sampling (up to 133.7 g/t and 58 g/t gold – see press release June 6, 2017). This type of epithermal deposits have previously been described at La Pitarilla deposit, a rich-silver, lead, zinc flow-dome complex that was found by testing near-surface oxidized mineralization and led to an economic disseminated and stockwork sulphide mineralized body1.
| A | B |
Figure 1: Maps of the Cerro Magallanes dome including interpretation of the dome margin and simplified structures. Proposed drill holes are subject to adjustments. Figure 1A – 1DV magnetic survey results with the drill plan and Riverside’s rock and channel sampling; Figure 1B – Target interpretation and mineralized feeder system.
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An initial drill program is in the final planning phases and will aim to test the near-surface oxide zone in structural corridors. The targeting is based on field observation and recent geophysics surveys and will test the primary San Jose, North Breccia and Central Targets.
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 collected 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.
1 Somers, C.M.J., Gibson, H.L., and Burk, R. (2010). The La Pitarrilla Silver-Zinc-Lead Deposit, Sierra Madre Occidental, Mexico: A Description of the Mineralization and a Reconstruction of its Volcano-Sedimentary Environment. In Special Publication 15, Society of Economic Geologists, Inc., pp. 133-164.
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