Riverstone Resources Inc.

Riverstone Resources Inc.

February 09, 2011 09:15 ET

Riverstone Reports High Grades in Core Drilling at Kao

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 9, 2011) - Riverstone Resources Inc. (TSX VENTURE:RVS)(FRANKFURT:3RV) is pleased to report results from the first five holes from the diamond drill program on the Kao deposit, part of the Company's Karma project in Burkina Faso, West Africa. (to see map, please click here: http://www.riverstoneresources.com/i/maps/110202NR-091112_Kao_Cartoon.jpg). Significant results include an intercept of 38 metres grading 3.32 g/t gold in Hole DD-10-004 and 16 metres grading 5.08 g/t gold in Hole DD-10-005 which ended in mineralization. The significant result of the drilling is that the holes intersected deeper extensions of the lowermost easterly dipping lens which opens up further exploration potential below the known mineralization. In addition, the holes confirmed the grades of the previously drilled RC holes and collected sufficient material for metallurgical purposes. Eight additional holes have been drilled and results are pending.

Hole number Interval (m) Intercept Average
  From To (metres) Grade (g/t Au)
KAO-DD-10-001 18 30 12 1.176
  and 70 82 12 1.342
  and 172 178 6.0 1.146
KAO-DD-10-002 96 100 4.0 1.027
  and 122 146 24 1.306
  incl 122 134 12 1.685
  and 152 174 22 0.911
  incl 160 172 12 1.213
KAO-DD-10-003 64 90 26 1.925
  incl 80 90 10 2.664
KAO-DD-10-004 20 58 38 3.316
  incl 34 48 14 2.534
  and incl 50 54 4 19.425
  and 62 70 8 3.064
  incl 62 64 2 11.350
KAO-DD-10-005 54 90 36 1.364
  incl 84 90 6 3.510
  and 144 160 16 5.084
  incl 148 154 6 12.916

"We are excited about these diamond drill hole results," commented M.D. McInnis, President and CEO of Riverstone Resources. "The Kao deposit previously had only been tested to a depth of approximately 85 metres and these results demonstrate a clear potential for additional mineralization at depth. We will continue to drill this deposit aggressively." The Kao deposit consists of a series of stacked mineralized lenses, which dip shallowly to the east. All of the holes were designed to confirm intersections in previously drilled RC holes, to provide material for metallurgical testwork, and to test for deeper extensions of easterly dipping zones.

The Kao deposit 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. The resource estimate is being updated and will be released to the public by the end of February.

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 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