Riverstone Resources Inc.

Riverstone Resources Inc.

December 12, 2011 09:00 ET

Riverstone Continues to Intersect Numerous Higher Grade Gold Zones at the Kao Zone on the Karma Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 12, 2011) - Riverstone Resources Inc. (TSX VENTURE:RVS)(OTCQX:RVREF)(FRANKFURT:3RV) is pleased to report results from nineteen reverse circulation ("RC") drill holes on the 100% owned Kao Zone, which forms part of the company's flagship Karma Gold project in Burkina Faso, West Africa. (See Map at http://www.riverstoneresources.com/i/maps/111208-091112_Kao_Plan.jpg). This drilling is part of a major on-going 90,000 metre Karma Project drill program designed to confirm the continuity of mineralization and also extend the mineralization to depth and along strike. These results have extended the known mineralization along strike in both directions and also down dip.

Mineralization at Kao has now been defined over a distance in excess of 850 metres north-south and 800 metres down-dip to the east. The deposit remains open down-dip and to the north-east and to the south. Several satellite zones remain to be drill tested.

Significant assay intervals are as follows:

  • 1.49 g/t Au over 28 m in RC-222
  • 2.10 g/t Au over 16 m in RC-229
  • 1.42 g/t Au over 12 m and 1.15 g/t Au over 12 m in RC-230
  • 1.45 g/t Au over 18 m in RC-240
  • 1.06 g/t Au over 16 m in RC-242
  • 1.63 g/t Au over 10 m, 1.84 g/t Au over 8 m and 1.42 g/t Au over 24 m in RC-247

"We are happy to see that numerous higher grade gold zones are extending the deposit along strike in both directions and down dip", commented Dwayne L. Melrose, President and COO of Riverstone. "The company will continue to extend and upgrade the resources for future engineering and economic studies that will be completed within 2012".

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-11-RC-222 106 134 28 1.49
and 156 160 4 0.74
KAO-11-RC-223 66 68 2 1.07
KAO-11-RC-224 68 72 4 1.51
KAO-11-RC-226 142 144 2 4.83
KAO-11-RC-228 38 46 8 0.63
and 82 88 6 0.73
and 126 136 10 0.67
KAO-11-RC-229 50 62 12 0.66
and 86 102 16 2.10
and 116 124 8 0.78
KAO-11-RC-230 96 106 12 1.42
and 146 158 12 1.15
KAO-11-RC-239 136 140 4 0.74
KAO-11-RC-240 38 40 2 1.56
and 100 104 4 1.35
and 114 132 18 1.45
and 142 148 6 0.73
KAO-11-RC-241 66 72 6 1.77
and 156 158 2 0.94
KAO-11-RC-242 50 66 16 1.06
KAO-11-RC-243 80 82 2 1.07
KAO-11-RC-244 132 136 4 1.14
KAO-11-RC-245 86 88 2 0.86
KAO-11-RC-246 32 34 2 2.07
KAO-11-RC-247 90 100 10 1.63
and 106 114 8 1.84
and 154 178 24 1.42
Note: Interpreted true thicknesses for these holes are between 85 and 100 percent. Holes RC-225, RC-227 and RC-238 reported only low grade values. Assays are pending for holes RC-231 to RC-237 inclusive.

The 100% owned Kao deposit is part of the company's Karma Project which comprises a NI 43-101 compliant gold resource of 810,600 ounces of gold in 22,845,000 tonnes grading 1.10 g/t gold in the indicated category and 1,119,100 ounces of gold in 44,100,000 tonnes grading 0.79 g/t gold in the inferred category. (See news release dated February 28, 2011). Since the resource was calculated in February 2011, the company has drilled an additional +40,000 metres on the Karma project, and it is expected that the results of this drilling will add to the overall resource.

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 Resources Inc. is active in gold exploration in Burkina Faso, West Africa, where the company holds an extensive portfolio of three high quality exploration projects covering +1,400 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., 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 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.

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