Riverside Resources Inc.
TSX VENTURE : RRI

Riverside Resources Inc.

May 07, 2008 08:30 ET

Riverside Resources Files for Cerro Azul Concession in the Guerrero Gold Belt of Southern Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 7, 2008) - Riverside Resources Inc. (TSX VENTURE:RRI) is pleased to announce that it has filed for a 260 km2 mineral exploration concession in the highly productive Guerrero Gold Belt of southern Mexico. Riverside has claimed a 100% interest, with no underlying royalties, in the Cerro Azul Project which features a minimum of four mineralization centers including an epithermal gold target and a porphyry copper-type hydrothermal system.

"We have been able to add to our portfolio of high-quality properties with little cost due to our proprietary geological database and our knowledge of the local geology using local staff in Mexico," said John-Mark Staude, President and Chief Executive Officer, Riverside Resources. "The Guerrero Gold Belt of southern Mexico hosts major gold and polymetallic systems with Farallon Resources' (TSX:FAN) Campo Morado volcanogenic massive sulfide deposit 30 km to the east and Placeres del Oro, a famous gold-copper mining district 45 km to the west of our property. The Morelos gold porphyry-skarn district of Goldcorp and Teck Cominco is one of the greater than 3 M Oz Au target types that we are evaluating in the Cerro Azul Concession that Riverside has claimed in Guerrero."

Riverside geologists carried out geochemical sampling on more than six different hydrothermal zones and structures, each extending hundreds of meters to greater than one km in length and returning encouraging values. Samples from outcrops near, and hosted in, volcanic breccias and a rhyolitic altered dykes, exceeded 1.0% and 5.5% Cu. These assay results and the overall favorable geologic indicators led Riverside's exploration team to pursue the area.

Outcropping and formerly mined mineralization in the Cerro Azul Concession displays chalcopyrite, bornite, pyrite, copper carbonates with sericite-pyrite-quartz-specularite and chlorite alteration, possibly indicative of the phyllic alteration zone of a Cu-Au-(Ag) porphyry system. In addition, the mineralized volcanic breccia may represent a lithocap and the surrounding polymetallic veins could be the peripheral manifestation of the porphyry system according to mapping by Riverside geologists. Mineralization occurs in a structural corridor with a prospective trend of at least 20 km length and up to 10 km wide, from Las Fraguas in the northern limit of the property to Cerro Azul in the southern part, where several Cu-Hg-Au mines produced during the 1900's.

The scientific and technical information contained in this news release was prepared under the supervision of Locke Goldsmith, P. Eng., P. Geo., an independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided in this news release is accurate and acts as a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Samples were prepared by Inspectorate Labs of Durango, Durango, Mexico and then analyzed by Inspectorate Labs of Reno, Nevada, USA using aqua regia digestion on a 15-gram sample followed by ICP-MS analysis.

Riverside Resources follows a prospect generator business model with a focus capitalizing on the technical teams strong experience and on the ground local approach of mineral exploration and then partnering with other companies on the majority of the projects while completing drill testing on a few projects each year. The generative program is based on the teams more than 60 years of collective exploration experience and participation in over a half dozen orebody discoveries. Currently Riverside has active joint ventures on-going and the website www.rivres.com has more information.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Riverside Resources Inc.
    John-Mark Staude
    President & CEO, Director
    (778) 327-6671
    (778) 327-6675 (FAX)
    Email: info@rivres.com
    Website: www.rivres.com
    or
    Riverside Resources Inc.
    Warwick Smith
    Director & Manager Media Communications
    (778) 327-6671
    (778) 327-6675 (FAX)
    Email: info@rivres.com
    Website: www.rivres.com