Riverside Resources and Partner Sierra Madre Developments Inc. Commence Drilling at the Penoles Project in Durango, Mexico
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/07/11 -- Riverside Resources Inc. ('Riverside' or the 'Company') (TSX VENTURE: RRI)(PINK SHEETS: RVSDF)(FRANKFURT: R99) announces that drilling is underway at the Penoles Gold-Silver Project in Durango, Mexico. The first phase of an initial 2,000 metre drill program will include step-out holes to evaluate grade and size potential at the oxidized El Capitan gold target. The drill program will also test the silver-gold potential at the San Rafael and Jesus Maria vein targets. Consistent gold and silver anomalies have been discovered at the surface of these historically mined vein targets, making the Jesus Maria and San Rafael silver-gold targets strong candidates for further drill testing this fall.
'With this announcement Riverside now has four partner-funded drill programs running at the same time,' said John-Mark Staude, President and CEO of Riverside Resources. 'Riverside continues to build momentum now offering shareholders four separate opportunities to be a part of new discoveries in the second half of 2011,' added Staude.
Projected Drilling Summary for Riverside Programs Currently Underway:
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Program
Project Partner Company (in metres)
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Chapalota Au-Cu Guerrero Exploration Inc. (TSX
VENTURE:GEX) 2,000
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Libertad Au-Ag Geologix Exploration Inc. (TSX
VENTURE:GIX) 1,200
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Sugarloaf Peak Au Choice Gold Corp. (CSNX: CHF) 5,000
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Penoles Au-Ag Sierra Madre Developments Inc.
(TSX VENTURE: SMG) 2,000
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TOTAL DRILLING Four Projects now being drilled
in two Countries 10,200
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Penoles Drill Targeting Details:
The Penoles Capitan target area has drilling aimed to extend the known mineralization and to acquire material to be used for initial metallurgical test work. Previous drilling by Riverside and Aurcana defined a geologically consistent gold zone and Sierra Madre will now be delineating, extending, and studying this as one of over 10 target areas on the 360 km2 Penoles Project.
Jesus Maria has provided high grade trench assays including 22 m at 1.08 g/t Au, 224 g/t Ag, 2.5% Pb, and 1.7% Zn (Press Release May 5, 2011). Results from this trenching have defined several higher grade zones at surface that are targets for near term drilling. The drill testing at Jesus Maria will look for the down dip and along strike projection to the previous underground vein-style mining.
San Rafael trench results (Press Release May 5, 2011) returned several intervals that indicate relatively shallow zones of gold mineralization and exposed at least three separate vein systems. The historic underground mine was producing on two vein systems accessed by an 80 meter deep shaft. The recent trench results aided in drill target definition at surface and should these prove grade continuity down dip possible ore shoot definition can commence.
Please refer to the Company's website for more information about the project, targets, and option agreement details. www.rivres.com.
Assaying and Qualified Person:
The scientific and technical data contained in this news release were prepared under the supervision of Mark J. Pryor, Pr.Sci.Nat, an independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided in this news release is accurate and acts as a 'qualified person' under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Riverside Resources Inc.:
Riverside is a well-funded prospect generation team of focused, proactive gold discoverers with the breadth of knowledge to dig much deeper. The Company currently has approximately $10,000,000 in the treasury and fewer than 35,000,000 shares issued. Riverside's model of growth through partnerships and exploration looks to use the prospect generation business approach to own resources, while partners share in de-risking projects on route to discovery. Additional property information on the Company's projects can be found on the Riverside Resources Inc. website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
Dr. John-Mark Staude, President & CEO
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward looking terminology (e.g., 'expect',' estimates', 'intends', 'anticipates', 'believes', 'plans'). Such information involves known and unknown risks -- including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the 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:
Riverside Resources Inc.
Joness Lang
Manager, Corporate Communications
(778) 327-6671
(778) 327-6675 (FAX)
info@rivres.com
www.rivres.com
Riverside Resources Inc.
Kaley Reid
Corporate Communications
(778) 327-6671
(778) 327-6675 (FAX)
info@rivres.com
www.rivres.com