Riverstone Intersects 14 Metres Averaging 2.44 g/t Gold at the Kao Zone on the Karma Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/05/11 -- Riverstone Resources Inc. (TSX VENTURE: RVS)(OTCQX: RVREF)(PINKSHEETS: RVREF)(FRANKFURT: 3RV) is pleased to report results from a further seven diamond 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 on website: http://www.riverstoneresources.com/i/maps/111202-091112_Kao_Plan.jpg). This drilling is part of a major on-going 90,000 metre Karma Project drill program designed to confirm the results of reverse circulation ('RC') drilling, confirm the continuity of mineralization and also extend the mineralization to depth and along strike.
Mineralization at Kao has been now been defined over a distance in excess of 800 metres north-south and 800 metres down-dip to the east. The deposit remains open down-dip and to the north-east, and several satellite zones remain to be drill tested.
Significant assay intervals are as follows:
-- 1.52 g/t Au over 20 m, including 5.80 g/t Au over 4 m in DD-028
-- 1.06 g/t Au over 38 m, including 1.70 g/t Au over 10 m in DD-030
-- 1.37 g/t Au over 18 m in DD-033
-- 2.44 g/t Au over 14 m in DD-034
'We are happy to see that the diamond drilling of the KOA mineralization is so consistent along strike and down dip, and confirmed and upgraded the RC results,' commented M. D. McInnis, CEO of Riverstone. 'The design of the drilling program is part of the future plan to complete a Preliminary Economic Study in 2012.'
Significant results are presented in the following table:
Average
Interval (m) Intercept Grade
Hole number From To (metres) (g/t Au)
KAO-DD-11-028 80 100 20 1.52
including 80 84 4 5.80
and 120 134 14 0.63
KAO-DD-11-029 160 166 6 1.09
KAO-DD-11-030 116 154 38 1.06
including 118 128 10 1.70
KAO-DD-11-031 14 22 8 0.56
KAO-DD-11-032 54 82 28 0.75
and 120 130 10 0.60
KAO-DD-11-033 90 96 6 1.44
and 104 110 6 0.53
and 116 126 10 0.81
and 148 166 18 1.37
KAO-DD-11-034 32 46 14 2.44
and 80 90 10 0.50
and 98 108 10 0.56
Note: Interpreted true thicknesses for these holes are between 95 and 100
percent.
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 six high quality exploration projects covering 2,300 square kilometres. For further information about the company and its activities, please refer to the company's website at www.riverstoneresources.com and under the Company's profile at www.sedar.com.
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
info@riverstoneresources.com
Riverstone Resources Inc.
Raju Wani
Investor Relations
403-240-0555
Riverstone Resources Inc.
Ron Cooper
Investor Relations
604-986-0112
Riverstone Resources Inc.
Don Mosher
Corporate Development
604-685-6465
www.riverstoneresources.com
