Riverstone Intersects 52 m Averaging 1.78 g/t Gold at Kao Deposit
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 26, 2012) - Riverstone Resources Inc. (TSX VENTURE:RVS)(OTCQX:RVREF)(FRANKFURT:3RV) ("Riverstone" or the "Company") is pleased to report results from nineteen diamond core drill holes on the 100% owned KAO Deposit, which forms part of the company's flagship Karma Gold Project in Burkina Faso, West Africa. These holes are part of an overall program of drilling designed to expand the gold mineralization in all dimensions and to upgrade the resource quality of the central portion of the deposit (see Map on the Riverstone Website for the location of holes: http://www.riverstoneresources.com/i/maps/120622NR-091112_Kao_Plan.jpg).
Significant assay intervals in these core holes include:
- 1.78 g/t Au over 52 m and 2.20 g/t over 12 m in DD-12-092
- 2.08 g/t Au over 38 m in DD-12-088
- 2.13 g/t Au over 32 m in DD-12-089
- 2.27 g/t Au over 20 m including 4.04 g/t over 8 m in DD-11-071
- 2.51 g/t Au over 10 m in DD-12-103
- 2.10 g/t Au over 22 m in DD-12-093
- 2.97 g/t Au over 8 m in DD-12-085
"The Kao deposit continues to expand in size as the deposit remains open in both strike directions and down-dip," commented Dwayne L. Melrose, President and CEO of Riverstone. "We have not found the limits of the Kao deposit to date and we have consistently continued to intersect gold results which are twice the average grade of the overall deposit."
Mineralization at Kao now extends over 1,100 metres north-south and at least 900 metres down-dip to the east. These results indicate that the deposit remains open to the north and south, as well as down-dip. The holes detailed in this release were designed to extend the down-dip gold mineralization to the east and to upgrade the higher grade gold zone in the central part of the deposit (an interpretive cross-section on the Website shows the geometry of the east-ward dipping mineralized body: http://www.riverstoneresources.com/i/maps/120622NR-120621-KaoXS1497925N.jpg).
Since the data cut-off point for the previous resource estimation (released January 9, 2012), the Company has completed +85,000 metres of drilling on the Karma Project, including approximately 54,000 metres of drilling which have been completed at the Kao deposit. It is expected that the results of this drilling will add to the overall resources of the Karma Project deposits.
A more complete summary of significant results in these drill holes is presented in the following table:
To read the entire news release follow the link below:
June 26, 2012 (Source: MarketWire)
Disclosure: Riverstone Resources is a Vulture Bargain Candidate of Interest (VBCI) and is our fully fledged Vulture Bargain #3. Members of the GGR team are actively accumulating shares of RVS.V or RVREF and continue to hold a speculative long position in the company.