Riverstone Intersects 110 Metres Averaging 1.73 g/t Au at the Goulagou I Deposit
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/26/12 -- Riverstone Resources Inc. (TSX VENTURE: RVS)(OTCQX: RVREF)(FRANKFURT: 3RV) ("Riverstone" or the "Company") is pleased to report results from ten diamond drill holes on the 100% owned Goulagou I Deposit ("GGI"), 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 known GGI Deposit mineralization at depth and along strike, 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/120320DDH-100504_GGI_Plan.pdf).
Significant assay intervals in these core holes are as follows:
-- 1.73 g/t Au over 110 m (including 2.04 g/t Au over 66 m) in DD-017
-- 1.68 g/t Au over 80 m (including 2.18 g/t Au over 18 m) in DD-018
-- 1.83 g/t Au over 66 m (including 2.39 g/t Au over 32 m) in DD-016
-- 2.50 g/t Au over 42 m in DD-024
-- 1.23 g/t Au over 24 m in DD-021
These wide mineralized intersections are the only drill holes testing these depths over a strike length of a minimum of 200 metres. Mineralization at GGI has now been extended to over 2,000 metres east-west and as much as 200 metres down-dip in areas of deeper drilling. The deposit remains open along strike in both directions and as well as to depth.
"We are extremely pleased with these wide zones of above average gold grade intersections from numerous drill holes at GGI," commented Dwayne L. Melrose, President and COO of Riverstone. "These results show that our drilling has been successful in extending the deposit to depth and has the potential of becoming a consistent wide mineralized zone, and will allow for up-grading of the resource model. Follow-up holes have been drilled below several of the reported intercepts; assays are pending for these holes."
A more complete summary of significant results is presented in the following table:
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Interval (metres) Intercept Average
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Hole number From To (metres) Grade (g/t Au)
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GLG-DD-11-015 6 12 6 1.20
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and 12 32 20 0.54
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and 124 140 16 0.57
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and 146 152 6 1.91
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and 152 158 6 0.79
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and 166 172 6 0.74
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GLG-DD-11-016 82 88 6 1.42
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and 158 178 20 0.65
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and 178 244 66 1.83
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including 178 194 16 1.89
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and including 212 244 32 2.39
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and 244 252 8 0.64
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GLG-DD-11-017 12 24 12 1.43
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and 76 88 12 1.30
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and 88 106 18 0.67
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and 106 118 12 1.08
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and 126 138 12 1.52
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and 138 158 20 0.66
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and 158 268 110 1.73
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including 158 186 28 1.65
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and including 202 268 66 2.04
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and 268 280 12 0.61
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GLG-DD-11-018 14 24 10 0.86
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and 42 58 16 0.85
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and 112 192 80 1.68
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including 136 154 18 2.18
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and 230 238 8 1.50
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GLG-DD-11-019 226 234 8 0.86
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GLG-DD-11-020 240 259 19 0.29
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GLG-DD-11-021 30 48 18 0.83
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and 80 124 44 0.80
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and 124 148 24 1.23
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and 148 160 12 0.63
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and 160 168 8 1.32
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GLG-DD-11-022 178 194 16 1.17
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and 194 214 20 0.52
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GLG-DD-11-023 8 22 14 0.94
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and 84 90 6 2.70
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GLG-DD-11-024 80 92 12 0.77
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and 92 134 42 2.50
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Notes: Interpreted true thicknesses for these intercepts are between 75 and
90 percent.
The 100% owned GGI 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 in excess of an additional 52,000 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 in excess of 2,000 square kilometres. Additional information about the Company and its activities may be found on the Company's website at www.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 the Company 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.
Contacts:
Riverstone Resources Inc. - Vancouver Office
Dwayne L. Melrose
President
604-801-5020
Riverstone Resources Inc.
Don Mosher
Corporate Development
604-685-6465
Riverstone Resources Inc.
Raju Wani
Investor Relations
403-240-0555
Riverstone Resources Inc.
Ron Cooper
Investor Relations
604-986-0112
info@riverstoneresources.com
www.riverstoneresources.com
