Riverstone Intersects 15.88 g/t Au Over 10 Metres at the Kao Deposit
VANCOUVER, BRITISH COLUMBIA–(Marketwire – March 21, 2012) – Riverstone Resources Inc. (TSX VENTURE:RVS)(OTCQX:RVREF)(FRANKFURT:3RV) (“Riverstone” or the “Company“) is pleased to report results from eleven diamond drill holes on the 100% owned Kao Deposit, which forms part of the Company’s flagship Karma Gold Project in Burkina Faso, West Africa. These holes are part of a program of core drilling designed to confirm and extend the Kao Deposit mineralization along strike and down dip, and upgrade the inferred resources to the indicated category (see map on website for the location of the holes: http://www.riverstoneresources.com/i/pdf/120319-091112_Kao_Plan.pdf).
Significant assay intervals in these core holes are as follows:
- 15.88 g/t Au over 10 m in DD-051
- 2.56 g/t Au over 20 m in DD-053
- 2.07 g/t Au over 18 m in DD-049
- 1.32 g/t Au over 32 m in DD-047
- 1.21 g/t Au over 16 m in DD-045
Mineralization at Kao has been extended by 100 metres to the north to an overall strike length in excess of 1,000 metres north-south and in excess of 900 metres down-dip to the east. The Kao Deposit is open to the north-east, to the west and to the south. Several satellite zones remain to be drill tested; drilling continues at Kao, with two RC and two core rigs active.
“We are very excited about intersecting high grade gold over significant widths plus extending the mineralized zone to the north,” commented Dwayne L. Melrose, President and COO of Riverstone. “These results show significant upside potential for the Kao Deposit and Riverstone will continue to follow up these results with more drilling along strike, which will allow for potential up-grading of the future resource model.”
A more complete summary of significant results is presented in the following table:
|Hole number||Interval (metres)||Intercept||Average|
|From||To||(metres)||Grade (g/t Au)|
|Note:||Interpreted true thicknesses for these intercepts are between 95 and 100 percent.|
|The interval from 220 to 230 in hole DD-11-051 was assayed using metallic screens.|
The 100% owned Kao Deposit is part of the Company’s Karma Project which comprises a NI 43-101 compliant in-pit Whittle gold indicated gold resource of 1.6 million ounces of gold in 47.3 million tonnes grading 1.1 g/t gold and an inferred gold resource of 0.6 million ounces of gold in 18.9 million tonnes grading 0.93 g/t gold (see news release dated January 9, 2012 and NI 43-101 technical report titled, “Technical Report and Resource Estimate on the Karma Project, Burkina Faso, West Africa” filed on SEDAR (www.sedar.com), February 23, 2012). Since the data cut-off for the resource estimation, the Company has completed an additional +43,000 metres of drilling on the Karma Project, and it is expected that the results of this drilling will add to the overall resource of the five Karma Project deposits.
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 is active in gold exploration in Burkina Faso, West Africa, where it holds a portfolio of four high quality exploration projects covering +2,000 square kilometres. Additional information about the Company and its activities may be found on the Company’s website atwww.riverstoneresources.com and under the Company’s profile at www.sedar.com.
ON BEHALF OF THE BOARD
Dwayne L. Melrose, President & COO
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 Canadian securities legislation. Forward-looking statements are based on certain assumptions and are subject to risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, with respect to statements regarding the updated resources estimate, the assumptions set forth in this news release and in the Company’s news release of January 9, 2012, and 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, risk of undiscovered, title defects and surface access, labour disputes, the potential for delays in exploration activities, the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, and other risks and uncertainties, including those described under Risk Factors in each management discussion and analysis and in the Company’s annual information form which are available under the Company’s profile at www.sedar.com. 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.