Riverside Resources and Partner Morro Bay Resources Drill 251.2 g/t Silver and 0.79 g/t Gold Over 9.5 Metres at the Penoles G...
June 23 2014 - 7:25AM
Marketwired Canada
Riverside Resources Inc. ("Riverside" or the "Company") (TSX
VENTURE:RRI)(PINKSHEETS:RVSDF)(FRANKFURT:R99), is pleased to announce the
results from an additional six (6) drill holes that were completed at the
recently discovered Jesus Maria South Zone (the "Zone") at the Penoles Project
(the "Project") in Durango, Mexico. The Company believes that these results
confirm the continuity and extent of the near surface Zone away from areas of
historic mining.
The assay results included the following highlighted intervals:
-- 9.5 m interval averaging 251.2 g/t silver and 0.79 g/t gold (JM DDH 14-
27)
-- 15.85 m interval averaging 123.7 g/t silver and 0.22 g/t gold (JM DDH
14-25)
-- 6.25 m interval averaging 304.6 g/t silver and 0.17 g/t gold (JM DDH 14-
26)
The final six holes of the program were drilled over a strike length of
approximately 200 metres, to the east of JM DDH 14-24 (see Riverside's press
release dated June 9, 2014), and successfully demonstrated good continuity of
mineralization at the Jesus Maria South Zone. The area tested by these six holes
lies within the area where Jesus Maria and Jesus Maria South start to merge (see
Figure 1). All six holes (JM DDH 14-25 through JM DDH 14-30) encountered
significant mineralization, as can be seen in the table below:
----------------------------------------------------------------------------
Hole ID From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Pb (%) Zn (%)
----------------------------------------------------------------------------
JM DDH 14-25 20.10 35.95 15.85 0.222 123.7 0.02 0.05
----------------------------------------------------------------------------
and 52.20 72.05 19.85 0.350 70.1 0.90 0.13
----------------------------------------------------------------------------
JM DDH 14-26 11.00 17.25 6.25 0.176 304.6 0.04 0.06
----------------------------------------------------------------------------
and 33.65 50.20 16.55 0.453 54.5 0.65 0.78
----------------------------------------------------------------------------
including 33.65 41.00 7.35 0.817 109.5 1.29 1.32
----------------------------------------------------------------------------
JM DDH 14-27 1.95 39.00 37.05 0.395 125.05 0.12 0.13
----------------------------------------------------------------------------
including 15.95 25.45 9.50 0.794 251.2 0.20 0.16
----------------------------------------------------------------------------
including 29.95 37.10 7.15 0.482 190.1 0.24 0.16
----------------------------------------------------------------------------
JM DDH 14-28 14.40 38.70 24.30 0.334 39.65 0.02 0.10
----------------------------------------------------------------------------
including 32.10 36.55 4.45 0.297 122.5 0.04 0.27
----------------------------------------------------------------------------
JM DDH 14-29 7.35 28.45 21.10 0.129 34.2 0.03 0.08
----------------------------------------------------------------------------
and 37.30 43.75 6.45 0.209 77.8 0.05 0.13
----------------------------------------------------------------------------
JM DDH 14-30 16.80 56.90 40.10 0.188 55.2 0.05 0.12
----------------------------------------------------------------------------
including 25.05 29.75 4.70 0.386 136.7 0.16 0.18
----------------------------------------------------------------------------
including 41.50 45.25 3.75 0.259 164.4 0.14 0.14
----------------------------------------------------------------------------
All reported intervals are core lengths, true widths have not yet been determined
Riverside's President and CEO, John-Mark Staude stated, "Riverside is pleased
with the final results of this latest round of drilling at the Jesus Maria South
Zone, with all holes intersecting a consistent trend, grade and estimated width.
We are very pleased with all of the progress and partner funded exploration and
drilling that has taken place at the Penoles Project, and believe there is still
significant upside and growth potential with a number of compelling targets
either untested, or open in multiple directions."
To view Figure 1: Drill Hole Location Map, please visit the following link:
http://media3.marketwire.com/docs/PenolesProject.pdf
About the Penoles Project:
The Penoles Project is located in the Durango silver-gold belt in north-central
Mexico and is currently owned 100% by Riverside. The recently completed drill
program was conducted pursuant to a commitment by Morro Bay Resources Ltd.
("Morro Bay") to perform $750,000 of exploration work on the property during the
first part of 2014. Morro Bay can complete its option to earn an initial
51-per-cent interest in the property by paying USD$1.35-million in cash to
Riverside and paying USD$1.5-million worth of Morro Bay shares (or cash at Morro
Bay's option, provided that if the market value of the Morro Bay shares is less
than five cents based on a 30-day volume-weighted average price, such payment
must be made in cash) by June 30, 2014.
Riverside News and Updates:
For those wishing to receive Riverside news directly to their inbox, please
click the following link: Riverside Mailing List
Qualified Person and QA/QC:
The scientific and technical data contained in this news release pertaining to
the Penoles Project was reviewed by Howard Davies, MAIG - VP Exploration, 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.
According to Morro Bay, all drill cores were placed in numbered boxes and
transported to Morro Bay's secure core facilities by the drill contractor.
Following detailed core logging all core was split using a diamond bladed core
saw under the direct supervision of Morro Bay's geologic staff with half of the
core kept on site in the original core boxes. All drill samples were sealed in
numbered plastic bags and transported to Inspectorate America Assay labs
facility in Durango City for prep work and analyzed at their facilities in Reno.
Inspectorate America is certified for the provision of assays and geochemical
analysis (ISO:9001-2008). All samples were prepared using standard industry prep
methods followed by fire assay analysis and aqua regia digest for trace
elements. All samples with greater than 10 g/t Au or 100 g/t silver were
additionally tested by fire assay with a gravimetric finish. Morro Bay has
included appropriate industry certified standards and blanks within the drill
core sample stream in addition to the standards and duplicates included as part
of the Inspectorate QA/QC program.
About Riverside Resources Inc.:
Riverside is a well-funded prospect generation team of focused, proactive
precious and base metal discoverers with the breadth of knowledge to dig much
deeper. The Company currently has more than $4,500,000 in the treasury and
approximately 37,000,000 shares outstanding. The Company's model of growth
through partnerships and exploration uses the prospect generation business
approach to own resources, while partners share in de-risking projects en route
to 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
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Riverside Resources Inc.
John-Mark Staude
President & CEO
(778) 327-6671
(778) 327-6675 (FAX)
www.rivres.com
Riverside Resources Inc.
Joness Lang
Manager, Corporate Development
jlang@rivres.com
(778) 327-6675 (FAX)
(877) RIV-RES1
www.rivres.com
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