Riverstone Resources Inc.
TSX VENTURE : RVS
OTCQX : RVREF
FRANKFURT : 3RV

Riverstone Resources Inc.

March 12, 2012 08:30 ET

Riverstone Intersects New Higher Gold Grade Zone at the Kao Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 12, 2012) - Riverstone Resources Inc. (TSX VENUTRE:RVS)(OTCQX:RVREF)(FRANKFURT:3RV) ("Riverstone" or the "Company") is pleased to report results from seven reverse circulation ("RC") 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 have indicated a new and higher than average grade zone in the western portion of the Kao Deposit and where it has also extended the mineralization. (See map at www.riverstoneresources.com/i/pdf/120306-091112_Kao_Plan.pdf for the location of the holes.)

Significant assay intervals are as follows:

  • 2.03 g/t Au over 14 m in RC-236
  • 1.46 g/t Au over 30 m in RC-231
  • 1.04 g/t Au over 36 m (including 1.44 g/t Au over 20 m) in RC-233
  • 3.14 g/t Au over 4 m in RC-235

Mineralization at the Kao Deposit has now been defined over at least 850 metres north-south and over 850 metres down-dip to the east. The Kao 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 to see that drilling at the Kao Deposit continues to yield good results," commented Dwayne L. Melrose, President and COO of Riverstone. "Of special interest here are holes RC-235 to RC-237, which have intersected a new zone dipping under the Kao Deposit as presently known, and open for drill testing down-dip and to the west."

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-231 140 142 2 0.54
and 174 204 30 1.46
KAO-11-RC-232 154 159 5 0.81
KAO-11-RC-233 134 170 36 1.04
including 140 160 20 1.44
KAO-11-RC-234 84 88 4 0.80
and 118 126 8 1.26
including 120 124 4 2.27
KAO-11-RC-235 4 36 32 0.81
including 30 34 4 3.14
and 126 134 8 1.19
and 172 184 12 0.74
including 172 176 4 1.42
KAO-11-RC-236 146 160 14 2.03
KAO-11-RC-237 92 94 2 1.66
Note: Interpreted true thicknesses for these holes are between 85 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 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. Further 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.

ON BEHALF OF THE BOARD

Dwayne L. Melrose, President & COO

Giles R. Peatfield, Ph. D., P. Eng., is the Qualified Person for Riverstone and has reviewed and approved the contents of this release.

Certain statements made and information contained in this news release, the Company's website 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
    President
    604-801-5020
    info@riverstoneresources.com
    www.riverstoneresources.com

    Riverstone Resources Inc. - Vancouver Office
    Don Mosher
    Corporate Development
    604-685-6465

    Riverstone Resources Inc. - Vancouver Office
    Ron Cooper
    Investor Relations
    604-986-0112

    Riverstone Resources Inc.
    Raju Wani
    Investor Relations
    403-240-0555