Riverstone Resources Inc.

Riverstone Resources Inc.

December 01, 2010 09:30 ET

Riverstone Resources Inc.: Geophysical and Geochemical Surveys Identify Additional Targets-Drilling Underway

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 1, 2010) - Riverstone Resources Inc. (TSX VENTURE:RVS)(FRANKFURT:3RV) announces that its option partner, Roxgold Inc., has commenced drilling on the Company's Yaramoko gold property in Burkina Faso, West Africa. Riverstone Resources is managing the program on behalf of Roxgold. 

A high resolution airborne geophysical survey has been completed on the Yaramoko Property ("Yaramoko"). Yaramoko is south of and contiguous to the Mana gold mine, where gold is being produced by Semafo, Inc. from a series of high-grade gold veins. The airborne survey together with new soil geochemical survey results have generated additional gold targets for the current drill program. Soil geochemistry anomalies include extensions along known structures where previous drilling has identified variable concentrations of gold mineralization as well as several new anomalies.

Roxgold's initial Phase 1 drill program at Yaramoko comprised of approximately 2,500 meters of reverse circulation drilling in 20 holes is now underway. This initial program will test anomalous zones along known gold bearing structures. Previous drilling by Riverstone included three holes collared over about 400 meters of strike length that intersected 2.04 grams per tonne ("gpt") gold over 14 meters (YRM-07-RC-015), 11.88 gpt gold over six meters (YRM-07-RC-022), and 14.82 gpt gold over two meters (YRM-07-RC-017).

Yaramoko is one of three gold exploration concessions in the greenstone belts of Burkina Faso, West Africa: (Yaramoko, Bissa West and Solna) in which Roxgold has an option to earn up to a 60% interest from Riverstone Resources. The targets are greenstone hosted gold targets similar to those which have generated numerous exploration successes and new mine developments in Burkina Faso. The Phase 1 drill program at Yaramoko is scheduled for completion in January 2011 after which Roxgold will continue with 2,500 meter drill programs on Bissa West (rock samples up to 19.0 gpt gold and widespread artisanal workings) and Solna (trench results include 7.34 gpt gold over 7.5 meters). Follow up Phase 2 work at Yaramoko will consist of additional reverse circulation and core drilling based on the Phase1 results.

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, 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