Riverstone Receives Positive Preliminary Metallurgical Test Results
Riverstone Resources Inc. (TSX-V; RVS) ("Riverstone" or the "Company") is pleased to report preliminary metallurgical results for column leach tests performed on oxidized mineralized material representing the three major deposits on the Company's flagship Karma Gold Project in Burkina Faso, West Africa (the "Karma Project"). The results are as follows:
| KCA Sample Number | Description | Crush Size (1) (mm) | Calculated Head (g/t) | Extracted Gold (%) | Duration (days) |
|---|---|---|---|---|---|
| 63437 | Kao Composite | 25.0 | 1.470 | 95% | 62 |
| 63492 | GG1 Composite | 25.0 | 1.189 | 93% | 62 |
| 63438 | GG2 Composite | 25.0 | 1.708 | 90% | 62 |
(1) Nominal crush size was 25 mm, however, due to the nature of the material, P80 for Kao and GG2 was 16 mm and P80 for GG1 was 8 mm
The tests were conducted by Kappes Cassidy Associates (KCA) of Reno, Nevada, USA under laboratory conditions using 150 mm columns over a period of 62 days (including a 13 day rest period). The results which show gold recoveries of greater than 90% indicate that the oxidized portion of the Karma deposit is highly amenable to heap leach processing and suggests that the oxide resources hosted at Karma could be developed to support a profitable, low-cost mining operation. This possibility is currently being examined in the Company's Preliminary Economic Evaluation of the Karma Gold Project, due to be completed and released in August 2012.
"We are very encouraged by these high recoveries from the preliminary metallurgical testing from the oxide material from the three main deposits," commented Dwayne L. Melrose, President and CEO of Riverstone. "Not only does the oxide material have excellent recoveries but the gold recovery times were better than anticipated."
The Company's Karma Project has a NI 43-101 compliant in-pit Whittle indicated resource of 1.6 million ounces of gold in 47.3 million tonnes grading 1.1 g/t gold and an inferred resource of 0.6 million ounces of gold in 18.9 million tonnes grading 0.93 g/t gold (see news release dated January 9. 2012 and NI 43-101 Technical Report titled "Technical Report and Resource Estimate on the Karma Project, Burkina Faso, West Africa" filed on SEDAR (www.sedar.com) February 23, 2012.) Since the data cut-off for the resource estimation, the Company has already completed +85,000 metres of drilling on the Karma Project, including approximately 54,000 metres at the Kao Deposit. It is expected that the results of this drilling will add to the overall resources of the Karma Project deposits.
Riverstone is active in Burkina Faso, West Africa, where it holds a portfolio of four high quality exploration projects covering in excess of 2,000 square kilometres. Additional information about the Company and its activities may be found on the Company's website at www.riverstoneresources.com and under the Company's profile at www.sedar.com.
"Dwayne L. Melrose"
_______________________________________
Dwayne L. Melrose, President & CEO
The entire news release may be viewed at the link below:
July 17, 2012 (Source: Riverstone Resources, Inc.)
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.
