Riverstone Reports on Northwest Extension RC Drilling at Kao
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/25/12 -- Riverstone Resources Inc. (TSX VENTURE: RVS)(OTCQX: RVREF)(FRANKFURT: 3RV) ("Riverstone" or the "Company") is pleased to report results from sixteen reverse circulation ("RC") drill holes on the 100% owned Kao ("Kao") Deposit, which forms part of the Company's flagship Karma Gold Project in Burkina Faso, West Africa (the "Karma Project"). These holes were drilled to test the up-dip portion of the main Kao deposit along its north-west edge (see map on the Riverstone website for the location of the holes: http://www.riverstoneresources.com/i/maps/120920R2-120713_Kao_PortPlan.jpg).
Significant assay intervals in these RC holes include:
-- 2.27 g/t Au over 14 m and 1.66 g/t over 2 m in RC-257
-- 2.08 g/t Au over 8 m in RC-310
-- 2.06 g/t Au over 8 m in RC-338
-- 2.29 g/t Au over 6 m in RC-334
-- 1.82 g/t Au over 6 m in RC-215
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 that the Kao deposit comes to near surface to the northwest of the currently modelled open pit and extends the currently known mineralization more than 100 m to the north-west.
"The Kao deposit is already modelled as a wide open pit, due to the shallow dip of the deposit," commented Dwayne L. Melrose, President and CEO of Riverstone. "There may be an opportunity to expand the Kao pit to the north-west with these results and potentially increase the overall resources in the updated resource estimate that is expected to be released this quarter."
A more complete summary of results in these drill holes is presented in the following table:
---------------------------------------------------------------------------
Average
Interval (metres) Intercept Grade
Hole number From To (metres) (g/t Au)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
KAO-12-RC-257 16 18 2 1.66
---------------------------------------------------------------------------
and 132 146 14 2.27
---------------------------------------------------------------------------
---------------------------------------------------------------------------
KAO-12-RC-258 110 116 6 0.96
---------------------------------------------------------------------------
and 174 176 2 1.36
---------------------------------------------------------------------------
---------------------------------------------------------------------------
KAO-12-RC-261 74 80 6 1.00
---------------------------------------------------------------------------
---------------------------------------------------------------------------
KAO-12-RC-262 100 106 6 0.59
---------------------------------------------------------------------------
and 134 142 8 0.54
---------------------------------------------------------------------------
---------------------------------------------------------------------------
KAO-12-RC-264 46 50 4 0.57
---------------------------------------------------------------------------
---------------------------------------------------------------------------
KAO-12-RC-297 66 68 2 1.16
---------------------------------------------------------------------------
and 118 120 2 3.67
---------------------------------------------------------------------------
---------------------------------------------------------------------------
KAO-12-RC-310 84 94 10 0.75
---------------------------------------------------------------------------
and 110 118 8 2.08
---------------------------------------------------------------------------
---------------------------------------------------------------------------
KAO-12-RC-311 70 76 6 1.82
---------------------------------------------------------------------------
and 114 120 6 0.75
---------------------------------------------------------------------------
---------------------------------------------------------------------------
KAO-12-RC-313 98 106 8 0.71
---------------------------------------------------------------------------
and 110 116 6 0.84
---------------------------------------------------------------------------
---------------------------------------------------------------------------
KAO-12-RC-315 68 72 4 0.95
---------------------------------------------------------------------------
---------------------------------------------------------------------------
KAO-12-RC-318 140 142 2 0.99
---------------------------------------------------------------------------
---------------------------------------------------------------------------
---------------------------------------------------------------------------
KAO-12-RC-334 24 28 4 0.99
---------------------------------------------------------------------------
and 44 60 16 0.52
---------------------------------------------------------------------------
and 60 66 6 2.29
---------------------------------------------------------------------------
---------------------------------------------------------------------------
KAO-12-RC-335 32 36 4 1.02
---------------------------------------------------------------------------
and 40 54 14 0.59
---------------------------------------------------------------------------
---------------------------------------------------------------------------
KAO-12-RC-338 38 46 8 2.06
---------------------------------------------------------------------------
---------------------------------------------------------------------------
KAO-12-RC-339 26 30 4 0.53
---------------------------------------------------------------------------
and 38 42 4 1.12
---------------------------------------------------------------------------
Notes: Interpreted true thicknesses are between 90 and 100 percent. Drill
holes KAO-12-RC-319 and KAO-12-RC-321 had no significant values.
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. The Company's flagship project is the 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 Company's 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 current resource estimation, the Company has completed in excess of an additional 85,000 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 Karma Project deposits for which a new resource estimate is expected to be released this quarter. The results of a Preliminary Economic Assessment have recently been released (see Company news release dated August 20, 2012 and NI 43-101 Technical Report titled, "Preliminary Economic Assessment Report for the Karma Project, Burkina Faso, West Africa", with an effective date of August 2, 2012, filed on SEDAR (www.sedar.com) September 17, 2012), highlighting the Karma Project to be a robust project.
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 & CEO
Paul Anderson, M.Sc., P.Geo., the Company's Vice-President, Exploration, is the Company's Qualified Person for the purposes of National Instrument 43-101 and has reviewed and approved the technical 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 releases of January 9, 2012, 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
