Riverstone Intersects New Gold Zone at Karma
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/09/11 -- Riverstone Resources Inc. (TSX VENTURE: RVS)(OTCQX: RVREF)(FRANKFURT: 3RV) is pleased to report further results from the drill program on the Company's Karma Project in Burkina Faso, West Africa (see map on website: http://www.riverstoneresources.com/i/maps/110608-100504_GG1_2_Cartoon.jpg). The holes are part of an on-going RC drill program on the Goulagou I zone of the Karma Project. The program is designed to both fill-in and expand the known mineralization at Goulagou I, which remains open in all directions, especially to the west and at depth.
'The Goulagou I zone continues to expand dramatically,' commented M.D. McInnis. 'For Example, Holes 178 and 186 to 189 have encountered a new zone of mineralization along the southern edge of the zone. We are continuing to aggressively drill the deposit to the east and west to determine the limits of the zone. We have not yet tested this deposit at depth below the oxides, but expect that the mineralization continues as it does for the other three deposits that comprise Karma.'
Results have been received from Holes 171 to 191. Significant intervals are reported in the table below:
Average
Interval (m) Intercept Grade
Hole number From To (metres) (g/t Au)
GLG-10-RC-176 106 128 22 0.75
including 108 116 8 1.24
and including 126 128 2 1.54
GLG-10-RC-178 8 16 8 0.92
and 30 48 18 0.61
and 68 76 8 0.51
and 102 108 6 0.58
and 126 132 6 0.60
GLG-10-RC-180 20 32 12 0.86
and 72 76 4 0.95
GLG-10-RC-181 0 22 22 1.51
and 32 50 18 1.10
GLG-10-RC-182 0 12 12 1.04
and 24 52 28 0.80
including 36 48 12 1.11
and 82 92 10 0.88
GLG-10-RC-183 10 30 20 0.75
GLG-10-RC-184 18 28 10 0.91
and 54 58 4 0.84
GLG-10-RC-186 76 96 20 1.17
including 88 94 6 2.13
and 100 120 20 0.60
GLG-10-RC-187 114 116 2 1.58
and 184 204 20 0.86
including 198 204 8 1.18
GLG-10-RC-189 96 124 28 1.11
and 140 172 32 1.16
including 142 150 8 1.95
The Goulagou I zone is part of the Company's Karma deposit which hosts a NI 43-101 compliant gold resource of 810,000 ounces of gold in the indicated category and 1,119,100 ounces in the inferred category (see news release dated February 28, 2011). The Goulagou property is subject to an Option to Purchase agreement with Golden Star Resources Ltd.
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 RC samples were assayed using standard fire assay with atomic absorption techniques, with samples grading over one gram 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. - 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
Riverstone Resources Inc.
Don Mosher
Corporate Development
604-685-6465
info@riverstoneresources.com
www.riverstoneresources.com