Riverstone Resources Inc.

Riverstone Resources Inc.

March 14, 2012 08:30 ET

Riverstone Confirms and Extends Higher Grade Zone at the Kao Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 14, 2012) - Riverstone Resources Inc. (TSX VENTURE:RVS)(OTCQX:RVREF)(FRANKFURT:3RV) ("Riverstone" or the "Company") is pleased to report results from seven diamond drill holes on the 100% owned Kao Deposit, which forms part of the Company's flagship Karma Project in Burkina Faso, West Africa. These holes are part of a program of core drilling designed to confirm and extend the higher grade zone in the middle of the deposit and upgrade the inferred resources to the indicated category (See Map at http://www.riverstoneresources.com/i/pdf/120314-091112_Kao_Plan.pdf for the location of the holes).

Significant assay intervals in these core holes are as follows:

  • 2.93 g/t Au over 16 m in DD-035
  • 2.19 g/t Au over 10 m in DD-036
  • 7.31 g/t Au over 2 m, 1.39 g/t Au over 20 m and 1.51 g/t Au over 6 m in DD-037
  • 1.51 g/t Au over 14 m in DD-038
  • 1.06 g/t Au over 20 m including 2.06 g/t Au over 8 m in DD-040
  • 2.13 g/t Au over 10 m in DD-041
  • 1.26 g/t Au over 26 m including 1.68 g/t Au over 12 m in DD-042

Mineralization at the Kao Deposit has now been extended to over 900 metres north-south and over 900 metres down-dip to the east. The deposit remains open down-dip as well as to the north-east, west and to the south. Several satellite zones remain to be drill tested; drilling continues at the Kao Deposit, with one RC and two core rigs active.

"We are pleased with these assays from core drilling at the Kao Deposit," commented Dwayne L. Melrose, President and COO of Riverstone. "The results from these two sections near the centre of the Kao Deposit, which hosts the higher grade portion of the deposit, have confirmed the results of previous RC drilling with higher than average grade gold intersections, which will allow for up-grading of the resource model and extends the higher grade mineralization down dip by an additional 50 metres."

A more complete summary of significant results is presented in the following table:

Hole number Interval (m) Intercept Average
From To (metres) Grade (g/t Au)
KAO-DD-11-035 36 44 8 1.12
and 56 60 4 1.16
and 132 148 16 2.93
and 276 277.4 1.4 1.03
KAO-DD-11-036 100 110 10 2.19
KAO-DD-11-037 76 78 2 7.31
and 92 112 20 1.39
and 136 140 4 0.89
and 182 184 2 0.89
and 196 202 6 1.51
and 214 218 4 2.47
KAO-DD-11-038 36 50 14 1.51
and 60 72 12 0.94
and 112 124 12 0.71
KAO-DD-11-039 22 30 8 1.29
and 64 96 32 0.75
and 158 160 2 3.79
KAO-DD-11-040 26 28 2 1.31
and 38 40 2 1.87
and 60 78 18 0.66
and 82 102 20 1.06
including 90 98 8 2.06
KAO-DD-11-041 64 74 10 2.13
KAO-DD-11-042 172 198 26 1.20
including 182 194 12 1.68
Note: Interpreted true thicknesses for these holes are between 95 and 100 percent.

The 100% owned Kao 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 an additional +43,000 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 +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.


Dwayne L. Melrose, President & COO

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, 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.

Contact Information

  • Riverstone Resources Inc. - Vancouver Office
    Dwayne L. Melrose

    Riverstone Resources Inc. - Vancouver Office
    Don Mosher
    Corporate Development

    Riverstone Resources Inc.
    Raju Wani
    Investor Relations

    Riverstone Resources Inc. - Vancouver Office
    Ron Cooper
    Investor Relations