Riverside Resources and Partner Sierra Madre Expand Gold Potential in Western Extension at the El Capitan Gold Zone; 2,500m Next Phase Drill Testing Set to Commence
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/30/12 -- Riverside Resources Inc. ("Riverside" or the "Company") (TSX VENTURE: RRI)(PINKSHEETS: RVSDF)(FRANKFURT: R99) and its partner, Sierra Madre Developments (TSX VENTURE: SMG), are pleased to announce positive assay results including greater than 1 g/t gold in soils from a detailed soil sampling program designed to assess potential western extensions of the El Capitan oxide gold zone at the Penoles Project in Durango, Mexico.
A total of 980 samples were collected at 12.5 metre intervals along 25 metre spaced profile lines for over 350 metres along strike of the mineralized zone. The soil samples returned strongly anomalous gold values (ranging from 50ppb to 1,100 ppb) within a consistent, 150 to 250 metre wide, west-northwest striking anomaly that extends from the most westerly 2011 drill hole (DDH 11-05) across the entire survey grid and remains open to the west. It was also noted that several soil samples collected southwest of DDH 11-05 returned strongly anomalous gold values indicating that the mineralized interval that was reported for DDH 11-05 represents only the lower part of the oxide gold zone. All samples were analyzed by Inspectorate Laboratories in Nevada using fire assay techniques.
As announced October 24, 2011, drilling at El Capitan identified potentially economic grade gold mineralization over a strike length of approximately 700 metres and the mineralized zone now appears to be open for expansion along strike to the west-northwest of the area tested by previous drilling. Additional drill testing at El Capitan is set to commence on or before March 31, 2012. Results will be announced as they become available.
The Penoles Project hosts a partially defined oxide gold prospect (El Capitan), two historic silver mines (Jesus Maria and San Rafael) and multiple early stage targets in a land package that covers more than half of the historic "Penoles Mining District". Sierra Madre has an option to earn an initial 51% interest and up to 65% interest from Riverside Resources Inc. by incurring exploration expenditures and making cash and share payments to Riverside and the underlying property owners.
The geologic content in this news release was 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:
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 $9,500,000 in the treasury and 35,000,000 shares issued. The Company'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 Development
(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