Riverstone Resources Inc.

Riverstone Resources Inc.

November 04, 2009 09:30 ET

Riverstone Announces New Gold Zone at Karma

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 4, 2009) - Riverstone Resources Inc. (TSX VENTURE:RVS)(FRANKFURT:3RV) is pleased to announce results from the first twenty three Rotary Air Blast (RAB) drill holes completed on the Company's Karma gold project in Burkina Faso, West Africa. The holes were drilled in the immediate area of the GG1 deposit, one of four deposits that comprise the Karma project, to test several gold-in-soil geochemical anomalies with the objective of locating new mineralized areas.

Eleven of the twenty-three holes returned anomalous values in gold ranging from 269 ppb to 1.44 g/t over widths ranging from 3.0 metres to 51.0 metres. A number of the anomalous holes require additional offset drilling to determine if there is any continuity of the mineralization. However, six of the holes have established a new 700 metre long zone that is still open to the west. The six holes were drilled to test a gold-in-soil anomaly that is parallel to and south of the known GG1 mineralization and could represent a new area of mineralization.

"We are very encouraged by the results to date from the RAB drilling," commented M.D. McInnis, President of Riverstone. "The objective of our current drilling program is to locate new zones of mineralization adjacent to our known NI 43-101 compliant resource at Karma. The initial results certainly require a follow-up RC drill test to determine if we have discovered a new zone."

The ongoing drill program at Karma comprises up to 6,000 metres of drilling, divided roughly equally between reverse circulation drilling (RC) and rotary air blast drilling (RAB). The planned RAB drilling has been completed; 60 RAB holes totaling 2,857 metres were drilled in the area of the Goulagou (GG1 & GG2) deposits and 15 holes totaling 751 metres were drilled near the Rambo deposit. RC drilling has commenced on the Kao Permit.

The Company maintains a rigorous quality control program involving the use of repeat assays, inserted blanks, and the use of certified standards from an accredited Canadian laboratory. All RAB samples were assayed using standard fire assay with atomic absorption techniques, with samples grading in excess of 2.00 g/t gold 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 high quality exploration permits 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.


Michael D. McInnis, P. Eng., President & CEO

Paul G. Anderson, P. Geo is a 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.

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

Contact Information

  • Riverstone Resources Inc. - Vancouver Office
    Michael D. McInnis
    Riverstone Resources Inc.
    Raju Wani
    Investor Relations
    Riverstone Resources Inc.
    Ron Cooper
    Investor Relations