Riverstone Resources Inc.

Riverstone Resources Inc.

September 15, 2010 09:30 ET

Riverstone Intersects High-Grade Gold at Goulagou II

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 15, 2010) - Riverstone Resources Inc. (TSX VENTURE:RVS)(FRANKFURT:3RV) is pleased to report the results from the recent diamond drilling program carried out on the Goulagou II gold deposit in Burkina Faso, West Africa (See Map on Website). The purpose of six of the holes was to drill between previously drilled fences to test for continuity of the mineralization along strike. An additional four holes were drilled outside of the mineralized zone to collect geotechnical information for engineering purposes.

The gold mineralization at Goulagou II has a strike length of two kilometres and has been drilled extensively on 50 metre drill fences. The results from this drilling program demonstrate that the continuity of the mineralization is very good and that part of the mineralized system has some excellent higher grades.

The highlights of the gold intercepts from the drilling are listed below:

  • 19.0 metres grading 5.321 g/t Au; including 13.0 metres grading 6.974 g/t Au in Hole 003
  • 15.0 metres grading 2.418 g/t Au; including 6.0 metres grading 4.485 g/t Au in Hole 008
  • 6.0 metres grading 3.396 g/t Au in Hole 009

Significant mineralized intercepts are reported in the table below:

Hole number Interval (m) Intercept Gold Grade
  From To (metres) (g/t Au)
GLG-DD-10-001 186 191 5.0 2.463
GLG-DD-10-003 67 71 4.0 1.525
and 93 112 19.0 5.321
including 97 110 13.0 6.974
and 131 136 5.0 1.283
and 140 147 7.0 1.190
GLG-DD-10-006 17 51 34.0 0.754
and 54 70 16.0 1.229
including 63 68 5.0 2.018
GLG-DD-10-008 64 79 15.0 2.418
including 65 71 6.0 4.485
and 84 92 8.0 1.463
GLG-DD-10-009 65 77 12.0 0.995
including 65 70 5.0 1.823
and 100 106 6.0 3.396
GLG-DD-10-010 33 36 3.0 2.003
and 87 89 2.0 2.400
and 100 108 8.0 1.266

Note: Holes GLG-DD-10-002, 004, 005 and 007 were drilled for geotechnical purposes outside of the mineralized zone and were not assayed.

The Goulagou deposits are part of the Company's Karma project which, in addition to the Goulagou deposits, comprises the Rambo and Kao deposits, and the promising new Nami site. The Goulagou property is subject to an Option to Purchase agreement with Golden Star Resources Ltd. Since March 2010, the Company has completed over 15,000 metres of RC drilling, over 2,000 metres of diamond drilling, and over 7,000 metres of RAB drilling at Karma. Additional drill sample results are expected to be released over the next few weeks.

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

Dr. Giles R. Peatfield, P.Eng., 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