Riverstone Resources Inc.

Riverstone Resources Inc.

January 19, 2011 09:01 ET

Riverstone Intersects 14 Metres Grading 1.92 g/t Gold at Nami

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 19, 2011) - Riverstone Resources Inc. (TSX VENTURE:RVS)(FRANKFURT:3RV) is pleased to report further results from the on-going diamond drill program on the Company's Nami Artisanal gold prospect in Burkina Faso, West Africa. Results include an intercept of 14 metres of 1.92 g/t gold which included 4 metres of 5.91 g/t gold in Hole RADD 10-40. The holes were drilled on north-south fences to test an interpreted westerly-trending mineralized zone which traverses the middle of the artisanal site (to see map please click on: www.riverstoneresources.com/i/maps/110117NR-100922_NamiDrill_LtrLand.jpg). The results from the holes support the interpreted geologic model and are considered to be very encouraging.

Hole number Interval (m) Intercept (metres) Gold Grade (g/t Au) Average Recovery
From To
RADD-10-35 22 38 16 0.88 79%
incl 29.6 36 6.4 1.61 51%
RADD-10-36 13 36 23 0.91 37%
and 48 62 14 0.95 90%
incl 56 60 4 2.37 94%
RADD-10-37 74 120 46 0.60 98%
incl 100 112 12 1.29 98%
and 144 146 2 2.27 100%
RADD-10-38 32 36 4 2.41 83%
and 56 58 2 1.10 58%
and 104 114 10 0.92 100%
RADD-10-39 94 116 22 0.77 100%
incl 104 112 8 1.05 100%
RADD-10-40 84 86 2 2.73 100%
and 128 142 14 1.92 100%
incl 132 136 4 5.91 100%

Several of the holes reported low recoveries in the mineralized zones due to voids. These voids are interpreted to be due to artisanal workings of gold-bearing zones.

"The Nami deposit continues to return solid assay results over a large area," commented M.D. McInnis, President and CEO of Riverstone. "We are encouraged that we can trace the mineralized zone from section to section and that it remains open in all directions."

The Nami Zone is part of the Company's Karma project, which comprises a NI 43-101 compliant gold resource of 820,500 ounces of gold in the indicated category and 322,300 ounces of gold in the inferred category in the Rambo Main, Kao, Goulagou I and Goulagou II deposits. The Nami Zone lies in close proximity to the Rambo gold deposit, and any resource developed at Nami will be accretive to the overall Karma project.

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 rock samples were assayed using standard fire assay with atomic absorption techniques, with samples grading over two grams 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 six high quality exploration projects 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.

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
    Michael D. McInnis
    Riverstone Resources Inc.
    Raju Wani
    Investor Relations
    Riverstone Resources Inc.
    Ron Cooper
    Investor Relations