Riverstone Reports Multiple Mineralized Intervals From Nami
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/20/11 -- Riverstone Resources Inc. (TSX VENTURE: RVS)(OTCQX: RVREF)(FRANKFURT: 3RV) is pleased to report additional results from diamond drilling recently completed on the Nami artisanal gold prospect on the Company's Karma Project in Burkina Faso, West Africa (to see map click on: http://www.riverstoneresources.com/i/maps/110615_RPNASDP.jpg). Significant results include intercepts of:
-- 42 metres grading 0.93 g/t gold, including 22 metres grading 1.21 g/t
gold
-- 10 metres grading 1.60 g/t gold, including 2 metres grading 5.01 g/t
gold
-- 12 metres grading 2.15 g/t gold, including 2 metres grading 11.55 g/t
gold
-- 16 metres grading 1.21 g/t gold
The drill results clearly show the presence of more than one mineralized interval in each hole, leading to the conclusion that Nami contains stacked mineralized zones similar to those seen at the Goulagou II and Kao gold deposits. The holes reported herein were drilled within the western portion of the Nami mineralized zone. Nami trends northerly in the Southern half of the artisanal site and then curves to trend westerly. The Nami zone, which has been traced for in excess of 500 metres to date, is approximately 125 metres in width and is open to the south, to the west and to depth.
'We are very pleased with the results from Nami,' commented M.D. McInnis, President and CEO of Riverstone Resources Inc. 'The stacked lenses recently identified at two of the four gold deposits that comprise the Karma project, will allow these deposits to grow substantially in the near future. Nami appears to share these characteristics, and it also contains some very high grade shoots surrounded by lower grade material.'
Significant intercepts are reported in the table below. Interpreted true widths range from 75% to 100%, mostly more than 90% of drilled lengths. Core recoveries range from 34% to 100%.
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Interval (m) Intercept Average
Hole number From To (metres) Grade (g/t Au)
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RADD-10-41 8.0 28.0 20.0 0.49
including 20.0 26.0 6.0 0.95
and 110.0 130.0 20.0 0.43
RADD-10-42 20.0 84.0 64.0 0.58
including 74.0 84.0 10.0 1.60
or including 74.0 76.0 2.0 5.01
and 96.0 122.0 26.0 0.66
including 106.0 114.0 8.0 1.06
RADD-10-43 32.0 34.0 2.0 0.88
and 116.0 122.0 6.0 0.88
RADD-10-44 28.0 30.0 2.0 0.94
and 110.0 122.0 12.0 2.15
including 114.0 116.0 2.0 11.55
RADD-10-45 126.0 142.0 16.0 0.49
including 140.0 142.0 2.0 1.00
RADD-10-46 84.0 96.0 12.0 0.54
RADD-10-47 110.0 112.0 2.0 0.51
and 124.0 132.0 8.0 0.66
RADD-10-48 92.0 100.0 8.0 0.46
and 114.0 116.0 2.0 0.94
and 140.0 142.0 2.0 1.70
RADD-10-49 86.0 98.0 12.0 0.76
including 94.0 98.0 4.0 1.55
and 144.0 146.0 2.0 1.25
and 154.0 156.0 2.0 0.81
RADD-10-50 6.0 8.0 2.0 0.52
and 104.0 114.0 10.0 1.40
including 104.0 108.0 4.0 2.91
and 114.0 132.0 18.0 0.46
RADD-10-51 158.0 170.0 12.0 0.40
RADD-10-52 78.0 80.0 2.0 2.10
including 138.0 146.0 8.0 0.66
RADD-10-53 8.0 12.0 4.0 0.74
and 40.0 82.0 42.0 0.93
including 40.0 62.0 22.0 1.13
RADD-10-54 44.0 52.0 8.0 0.85
and 74.0 90.0 16.0 1.21
RADD-10-56 52.0 54.0 2.0 0.99
and 76.0 78.0 2.0 0.66
RADD-10-57 10.0 28.0 18.0 0.77
The Nami artisanal gold zone is part of the Company's Karma project which hosts a NI 43-101 compliant gold resource of 810,000 ounces of gold in 22,845,000 tonnes grading 1.10 g/t gold in the indicated category and 1,119,100 ounces of gold in 44,100,000 tonnes grading 0.79 g/t gold in the inferred category (see news release dated February 28, 2011). Nami is a relatively recent discovery and is not included in the 43-101 resource estimate. The Company is currently drilling 90,000 metres at Karma in an effort to expand all gold zones.
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 core 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