Riverstone Reports Expansion of Nami Footprint
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/16/10 -- Riverstone Resources Inc. (TSX VENTURE: RVS)(FRANKFURT: 3RV) is pleased to report that the recently completed RAB (Rotary Air Blast) drilling program at the Company's Nami artisanal gold project in Burkina Faso, West Africa has significantly expanded the Nami target for an additional 700 metres beyond the original footprint. The program identified both northeast and northwest trending structures containing anomalous gold values and alteration consistent with the main Nami site further to the south.
The RAB drilling program was initiated after the artisanal miners active on the Company's Nami discovery expanded the footprint of their workings to the north. The miners expanded their activity during the month of May along the northern and northwestern edge of the Nami site, where a 450 metre by 150 metre area is now the site of very intense shaft digging. The general trend of these shafts appears to be west-northwest, whereas the mineralization on the main Nami site is northwest trending, with northeast and east-west cross structures.
The RAB drilling program comprised 7,172 metres in 142 shallow vertical holes drilled over an area of approximately 700 metres by 850 metres, immediately north of the newly active shafts. The drilling was conducted on east-west lines spaced 100 metres apart, with holes at 50 metre centres along the lines.
The eastern and western extremities of each line of RAB drill holes intercepted volcano-sediments and intrusive rocks similar to those that host the Nami mineralization defining a northwest striking body open to the north. Within the intrusive are several discrete, northwest and northeast trending shear zones defined by anomalous gold values in rocks with silica, sericite, carbonate and potassic alteration. The suite of alteration minerals is similar to that seen within the main Nami site directly to the south. The northwest structures may be the continuation of the main Nami mineralized trend, whereas the northeast trends may represent cross structures.
The Company continues to drill at the Nami site with one diamond drill. The program is expected to end within the next ten days due to the onset of the rainy season, but a back log of assay samples in the lab will ensure a steady news flow over the next two months.
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