Riverstone Intersects 10.0 Metres Grading 5.87 g/t Gold at Nami
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/27/10 -- Riverstone Resources Inc. (TSX VENTURE: RVS)(FRANKFURT: 3RV) is pleased to report the balance of the results from the reverse circulation and diamond drilling program completed recently on the Company's Nami artisanal gold prospect in Burkina Faso, West Africa. The results of this drilling together with the previous drilling carried out by the Company have established a wide gold zone within a curvilinear shear zone (See Map 1: http://www.riverstoneresources.com/i/maps/100922v7100125_Nami_LtrLand.jpg). The gold zone trends northerly in the Southern half of the artisanal site and then curves to trend westerly. The zone is approximately 125 metres in width and is open to the south, to the west and to depth. The zone has been traced for approximately 500 metres to date. Preliminary field investigations by the Company suggest that there is a second, parallel gold-bearing shear zone that traverses the area of new artisanal mining activity to the North (See Map 1: http://www.riverstoneresources.com/i/maps/100922v7100125_Nami_LtrLand.jpg).
'We are pleased to see a geologic model developing for the Nami prospect', noted Michael McInnis, President and CEO of Riverstone. 'The size of this zone is impressive and the new interpretation of the geology will certainly provide better targeting for our third quarter drilling program. We look forward to establishing the Nami prospect as a significant new gold resource for the Company'.
Significant intercepts from the drilling are presented in the table below (See Map 2 for Drill Hole Locations: http://www.riverstoneresources.com/i/maps/100922v6100125_Nami_LtrLand.jpg).
Hole number Interval (m) Intercept Gold Grade
PHASE II RC DRILLING From To (metres) (g/t Au)
RC-075 58 64 6.0 1.672
and 96 110 14.0 0.940
RC-077 12 18 6.0 0.784
and 34 50 16.0 0.582
RC-078 70 72 2.0 1.030
and 96 132 36 0.615
including 102 108 6.0 1.214
RC-083 98 112 14.0 0.904
including 98 102 4.0 1.998
and 116 120 4.0 0.538
RC-087 20 22 2.0 1.590
RC-088 48 70 22.0 0.814
including 50 58 8.0 1.503
and 76 80 4.0 0.577
and 92 100 8.0 0.505
RADD-10-25 40.0 49.0 9.0 0.730
and 58.0 62.0 4.0 0.833
and 88.0 98.0 10.0 0.580
including 95.95 96.90 0.95 2.350
RADD-10-26 Abandoned due to intersecting artisanal working
RADD-10-27 144.5 147.5 3.0 0.851
and 160.0 161.50 1.0 1.260
and 163.0 167.33 3.83 1.240
including 166.37 167.33 0.96 3.570
and 179.50 180.50 1.0 1.120
and 199.50 200.28 0.78 7.440
RADD-10-28 94.0 104.0 10.0 5.870
including 97.0 101.0 4.0 14.163
RADD-10-29 73.0 75.0 2.0 4.015
and 83.0 103.0 20.0 0.848
including 96.0 99.0 3.0 2.480
The Nami Zone 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 320,300 ounces of gold in the inferred category in the Rambo Main, Kao, Goulagou I and Goulagou II deposits. The Nami Zone lies in close proximity to the Rambo gold deposit, and any resource developed at Nami will be accretive to the overall Karma project.
Since March 2010, the Company has drilled in excess of 18,000 metres of RC drilling, over 4,000 metres of diamond drilling and in excess of 7,000 metres of RAB drilling on the overall Karma project. A small portion of analytical results from this program are still in the lab, and will be reported within the coming 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 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.
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.
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