Riverstone Intersects 2.39 g/t Gold Over 24 Metres at Kao
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/10/12 -- Riverstone Resources Inc. (TSX VENTURE: RVS)(OTCQX: RVREF)(FRANKFURT: 3RV) ("Riverstone" or the "Company") is pleased to report results from seventeen diamond drill holes on the 100% owned Kao Deposit ("Kao"), which forms part of the company's flagship Karma Gold Project in Burkina Faso, West Africa (the "Karma Project"). These holes are part of a program of drilling in the north-east extension area of the main Kao deposit, designed to further test the extension of easterly-dipping mineralization. (See Map on the Riverstone Website for the location of the holes: http://www.riverstoneresources.com/i/maps/120911-120713_Kao_PortPlan.JPG).
Significant assay intervals in these core holes include:
-- 2.39 g/t Au over 24 m in DD-12-130
-- 2.22 g/t Au over 16 m including 3.28 g/t over 8 m in DD-12-139
-- 2.10 g/t Au over 12 m in DD-11-069
-- 2.02 g/t Au over 12 m in DD-12-149
-- 31.8 g/t Au over 2 m and 2.42 g/t over 6 m in DD-12-131
-- 1.84 g/t Au over 14 m in DD-12-72
Mineralization at Kao extends over 1,400 metres in a northeast-southwest direction and at least 900 metres down-dip to the east. These latest drill holes confirm the continuation of higher grade material along strike to the northwest and at depth, with the deposit remaining open to the north, south and down the dip to the east.
"The extension drilling at Kao continues to return higher grades than the modelled average grade of the deposit," commented Dwayne L. Melrose, President and CEO of Riverstone. "This is expected to have a positive effect on the upcoming resource estimate, which is on track for completion in late September of 2012. The updated resource model has the potential to increase the mine life or annual gold production that was identified in the recently released PEA results."
A more complete summary of significant results in these drill holes is presented in the following table:
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Hole number Interval (metres) Intercept Average
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From To (metres) Grade (g/t Au)
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KAO-DD-11-069 54 56 2 1.08
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and 116 120 4 1.47
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and 128 130 2 1.19
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and 186 198 12 2.10
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KAO-DD-11-072 166 170 4 1.14
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and 222 236 14 1.84
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KAO-DD-12-124 198 206 8 0.85
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and 216 218 2 2.57
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KAO-DD-12-125 158 200 42 0.85
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including 178 184 6 1.46
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and including 194 200 6 1.48
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KAO-DD-12-126 150 162 12 1.68
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KAO-DD-12-127 300 302 2 1.03
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KAO-DD-12-128 158 164 6 1.29
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and 198 200 2 2.00
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KAO-DD-12-129 82 86 4 1.36
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and 238 250 12 1.54
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KAO-DD-12-130 60 64 4 1.06
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and 88 100 12 1.02
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and 210 234 24 2.39
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KAO-DD-12-131 136 138 2 31.80
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and 240 246 6 2.42
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KAO-DD-12-139 230 246 16 2.22
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including 234 242 8 3.28
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and 258 260 2 2.05
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KAO-DD-12-142 46 50 4 1.01
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and 254 260 6 1.98
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KAO-DD-12-143 208 214 6 1.03
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and 312 314 2 1.38
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KAO-DD-12-148 196 204 8 0.80
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KAO-DD-12-149 162 164 2 1.26
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and 246 258 12 2.02
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and 258 272 14 1.12
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KAO-DD-12-152 228 234 6 0.92
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and 266 272 6 1.45
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KAO-DD-12-153 140 148 8 1.42
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and 242 248 6 0.94
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Notes: Interpreted true thicknesses for these intercepts are between 90 and
100 percent.
The 100% owned Kao is part of the Company's Karma Project which comprises a NI 43-101 compliant in-pit Whittle indicated resource of 1.6 million ounces of gold in 47.3 million tonnes grading 1.1 g/t gold and an inferred 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 already completed +85,000 metres of drilling on the Karma Project. It is expected that the results of this drilling will add to the overall resources of the Karma Project deposits. The results of a Preliminary Economic Assessment have recently been released (see Company news release dated August 20, 2012), highlighting the Karma Project to be a robust project.
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 samples were prepared at the independent Abilab Burkina SARL laboratory in Ouagadougou, Burkina Faso, West Africa (part of the ALS Chemex Group), and assayed using standard fire assay with an atomic absorption finish, with samples grading over one gram per tonne gold re-assayed with a gravimetric finish, either in Burkina Faso or at the ALS Chemex facility in North Vancouver, British Columbia, Canada.
Riverstone is active in Burkina Faso, West Africa, where it holds a portfolio of four high quality exploration projects covering in excess of 2,000 square kilometres. Addition 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 & 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 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, anticipated timing and completion of a definitive feasibility study, mine development schedule, the granting of exploitation permits, the anticipated timing an completion of a NI 43-101 compliant technical report supporting the PEA, the assumptions set forth in this news release and in the Company's news releases of January 9, 2012 and August 20, 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 and permitting activities, the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, political risk 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.
This news release may use the terms "measured", "indicated" and "inferred" as these terms are defined under Canada's National Instrument 43.101. U.S. Investors are advised that, while such terms are recognized and required by Canadian regulations, they are not recognized by the United States Securities and Exchange Commission ("SEC") and may not be comparable to similar information for United States mining or exploration companies. As such, certain information contained on this news release concerning descriptions of mineralization and resources under Canadian standards is not comparable to similar information made public by United States companies subject to the reporting and disclosure requirements of the SEC. U.S. investors are cautioned not to assume that any part or all of the mineral deposits described in these categories will ever be converted into proven or probable reserves, as defined in the SEC's Industry Guide No. 7.
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
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
