Riverstone Drilling Extends Gold Mineralization at Goulagou Deposits at Karma Project
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/29/10 -- Riverstone Resources Inc. (TSX VENTURE: RVS)(FRANKFURT: 3RV) is pleased to report the results from 15 RC holes drilled recently on the Company's Goulagou gold deposits in Burkina Faso, West Africa. The Goulagou deposits (GGI and GGII) are two of the four deposits that comprise the Company's Karma gold project. Mineralized intervals encountered in the drilling have extended the strike length of both deposits to the west (See Map 1 and Map 2 on Company website).
'We are very pleased with these results' commented M. D. McInnis, President & CEO of Riverstone. 'There is a substantial NI 43-101 compliant resource on both Goulagou deposits and these new results clearly demonstrate a significant potential to add to those resources. In particular, GGI has multiple, parallel mineralized zones that are being extended considerably to the west. The target at GGI is a large open-pitable deposit, and these intercepts certainly support this model.'
Significant mineralized intercepts are reported in the following table:
Hole number Interval (m) Intercept Average
From To (metres) (g/t Au)
GLG-10-RC-045 88 102 14 0.884
including 92 100 8 1.291
GLG-10-RC-048 14 18 4 0.821
and 24 26 2 1.470
GLG-10-RC-049 18 34 16 0.373
GLG-10-RC-052 60 122 62 0.457
GLG-10-RC-053 20 52 32 0.526
and 78 94 16 0.717
and 94 110 16 0.568
GLG-10-RC-054 0 72 72 0.807
including 0 16 16 1.165
including 52 72 20 1.413
GLG-10-RC-061 0 40 40 0.581
GLG-10-RC-062 4 98 98 0.820
including 6 14 8 1.063
and 74 98 24 2.095
including 76 90 14 2.479
GLG-10-RC-063 18 22 4 0.932
and 122 124 2 1.215
GLG-10-RC-064 24 26 2 0.918
and 54 64 10 0.457
GLG-10-RC-065 120 126 6 0.446
GLG-10-RC-073 40 60 20 0.431
and 104 118 14 0.692
GLG-10-RC-076 28 50 22 0.562
including 46 50 4 1.633
GLG-10-RC-077 0 160 160 0.458
and 14 24 10 0.855
and 78 82 4 2.095
and 104 106 2 1.130
and 144 152 8 0.973
The Goulagou deposits are part of the Company's Karma project which, in addition to the Goulagou deposits, comprises the Rambo, Kao and the promising new Nami site. Since March 2010, the Company has drilled over 15,000 metres of RC drilling and over 2,000 metres of diamond drilling, in addition to over 7,000 metres of RAB drilling at Nami. A large number of drill samples are currently still in the analytical laboratory with results expected to be reported over the next 4 to 6 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.
ON BEHALF OF THE BOARD
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.
Contacts:
Riverstone Resources Inc. - Vancouver Office
Michael D. McInnis
President
604-801-5020
Riverstone Resources Inc.
Raju Wani
Investor Relations
403-240-0555
Riverstone Resources Inc.
Ron Cooper
Investor Relations
604-986-0112
info@riverstoneresources.com
www.riverstoneresources.com