Riverstone Resources Inc.

Riverstone Resources Inc.

June 12, 2012 08:30 ET

Riverstone Continues to Extend and Intercept Higher Grade Gold Results at Kao

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 12, 2012) - Riverstone Resources Inc. (TSX VENTURE:RVS)(OTCQX:RVREF)(FRANKFURT:3RV) ("Riverstone" or the "Company") is pleased to report results from fifteen diamond core drill holes on the 100% owned Kao Deposit, which forms part of the company's flagship Karma Gold Project in Burkina Faso, West Africa. These holes are part of a program of drilling designed to confirm and extend the deposit to depth, upgrade the resource category and to collect material for metallurgical testing. (See Map on Website for the location of the holes: http://www.riverstoneresources.com/i/maps/120611-091112_Kao_Plan_MAP-lg.jpg).

Significant assay intervals in these core holes are as follows:

  • 2.58 g/t Au over 14 m in DD-11-060
  • 2.10 g/t Au over 16 m in DD-11-059
  • 2.03 g/t Au over 14 m in DD-11-064
  • 1.62 g/t Au over 16 m in DD-11-055
  • 1.60 g/t Au over 10 m, 1.42 g/t Au over 14 m and 1.20 g/t Au over 18 m in DD-11-066

Mineralization at Kao extends over 1,100 metres north-south and at least 900 metres down-dip to the east. The deposit remains open to north and south, as well as down-dip.

"We are pleased with these above average grade assays from core drilling at Kao," commented Dwayne L. Melrose, President and CEO of Riverstone. "These results show that our drilling has been successful in extending the strike and vertical extent of the deposit, which could allow for up-grading of the next resource model."

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

Hole number Interval (metres) Intercept Average
From To (metres) Grade (g/t Au)
KAO-DD-11-054 82 84 2 3.04
and 126 140 14 0.63
KAO-DD-11-055 200 216 16 1.62
and 274 276 2 1.85
KAO-DD-11-056 112 122 10 1.36
KAO-DD-11-057 36 42 6 1.27
and 72 86 14 1.52
KAO-DD-11-058 96 102 6 1.55
KAO-DD-11-059 80 90 10 1.13
and 102 118 16 2.10
KAO-DD-11-060 108 122 14 2.58
KAO-DD-11-061 118 120 2 2.39
and 136 138 2 1.42
KAO-DD-11-062 132 148 16 1.33
and 158 170 12 1.15
and 178 184 6 1.23
KAO-DD-11-063 30 34 4 1.29
and 106 108 2 2.98
and 132 148 16 1.02
and 174 178 4 1.04
and 204 210 6 1.95
KAO-DD-11-064 50 64 14 2.03
KAO-DD-11-065 56 58 2 1.79
and 66 72 6 1.01
and 164 170 6 1.21
KAO-DD-11-066 102 112 10 1.60
and 174 188 14 1.42
and 208 214 6 1.75
and 220 238 18 1.20
KAO-DD-11-067 138 140 2 3.01
and 162 170 8 1.30
KAO-DD-11-068 118 120 2 1.16
Notes: Interpreted true thicknesses for these intercepts are between 90 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 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 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 in excess of an additional +80,000 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.

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 prepared and assayed using standard fire assay with an atomic absorption finish, with samples grading over one gram per tonne gold re-assayed with a gravimetric finish, at the independent Abilab Burkina SARL laboratory in Ouagadougou, Burkina Faso, which is part of the ALS Chemex Group.

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. 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 & 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 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.
    Don Mosher
    Corporate Development

    Riverstone Resources Inc.
    Raju Wani
    Investor Relations

    Riverstone Resources Inc.
    Ron Cooper
    Investor Relations