Riverstone Increases Strike Length of the Goulagou I Deposit to 1.5 Kilometres
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/01/10 -- Riverstone Resources Inc. (TSX VENTURE: RVS)(FRANKFURT: 3RV) is pleased to report more positive results from the drill program at its Goulagou I gold deposit in Burkina Faso, West Africa (to see map please visit: http://www.riverstoneresources.com/i/maps/100830_GGI_PlanV8_0.jpg). The goal of the drill program is to upgrade and expand the current resource at the two Goulagou deposits, as well as the other two deposits that comprise the Company's Karma gold project.
The gold mineralization at Goulagou I has now been traced over a minimum strike length of 1.5 kilometres. The eastern half of the mineralization appears to be confined to a single zone but the westernmost 800 metres of the zone is comprised of multiple parallel zones of gold mineralization with a width of approximately 200 metres. The Goulagou I zone is still open to the west.
'We continue to be pleased with the results from our drilling on Goulagou I,' commented M.D. McInnis, President and CEO of Riverstone. 'The western portion with its multiple zones is particularly interesting from a potential mining perspective as the dilution could be minimized.'
Significant mineralized intercepts are reported in the following table. For results of holes previously released this year see News Releases dated May 25, June 29, July 7, and July 20, 2010.
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Interval (m) Intercept Gold Grade
Hole number From To (metres) (g/t Au)
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GLG-10-RC-089 38 50 12 0.615
including 46 50 4 1.270
GLG-10-RC-091 32 38 6 1.122
and 100 118 18 0.511
including 100 106 6 0.839
GLG-10-RC-092 36 66 30 0.946
including 38 50 12 1.637
and 72 74 2 1.550
and 88 112 24 0.693
including 92 100 8 1.186
GLG-10-RC-093 10 42 32 0.619
GLG-10-RC-094 78 94 16 0.553
and 94 130 36 2.039
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. The Goulagou property is subject to an Option to Purchase agreement with Golden Star Resources Ltd. 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. Additional drill sample results are expected to be released over the next few 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
Dr. Giles R. Peatfield, P.Eng., 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
info@riverstoneresources.com
Riverstone Resources Inc.
Raju Wani
Investor Relations
403-240-0555
Riverstone Resources Inc.
Ron Cooper
Investor Relations
604-986-0112
www.riverstoneresources.com