Riverstone Intersects 2.39 g/t Gold Over 24 Metres at Kao
VANCOUVER, BRITISH COLUMBIA, Sep 10, 2012 (MARKETWIRE via COMTEX) -- Riverstone Resources Inc. CA:RVS +2.33% (otcqx:RVREF)(frankfurt:3RV) ("Riverstone" or the "Company") is pleased to report results from seventeen diamond drill holes on the 100% owned Kao Deposit ("Kao"), which forms part of the company's flagship Karma Gold Project in Burkina Faso, West Africa (the "Karma Project").
Significant assay intervals in these core holes include:
-- 2.39 g/t Au over 24 m in DD-12-130
-- 2.22 g/t Au over 16 m including 3.28 g/t over 8 m in DD-12-139
-- 2.10 g/t Au over 12 m in DD-11-069
-- 2.02 g/t Au over 12 m in DD-12-149
-- 31.8 g/t Au over 2 m and 2.42 g/t over 6 m in DD-12-131
-- 1.84 g/t Au over 14 m in DD-12-72
Mineralization at Kao extends over 1,400 metres in a northeast-southwest direction and at least 900 metres down-dip to the east. These latest drill holes confirm the continuation of higher grade material along strike to the northwest and at depth, with the deposit remaining open to the north, south and down the dip to the east.
"The extension drilling at Kao continues to return higher grades than the modelled average grade of the deposit," commented Dwayne L. Melrose, President and CEO of Riverstone. "This is expected to have a positive effect on the upcoming resource estimate, which is on track for completion in late September of 2012. The updated resource model has the potential to increase the mine life or annual gold production that was identified in the recently released PEA results."
A more complete summary of significant results in these drill holes is presented in the following table:
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Hole number Interval (metres) Intercept Average
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From To (metres) Grade (g/t Au)
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KAO-DD-11-069 54 56 2 1.08
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and 116 120 4 1.47
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and 128 130 2 1.19
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and 186 198 12 2.10
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KAO-DD-11-072 166 170 4 1.14
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and 222 236 14 1.84
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KAO-DD-12-124 198 206 8 0.85
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and 216 218 2 2.57
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KAO-DD-12-125 158 200 42 0.85
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including 178 184 6 1.46
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and including 194 200 6 1.48
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KAO-DD-12-126 150 162 12 1.68
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KAO-DD-12-127 300 302 2 1.03
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KAO-DD-12-128 158 164 6 1.29
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and 198 200 2 2.00
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KAO-DD-12-129 82 86 4 1.36
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and 238 250 12 1.54
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KAO-DD-12-130 60 64 4 1.06
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and 88 100 12 1.02
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and 210 234 24 2.39
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KAO-DD-12-131 136 138 2 31.80
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and 240 246 6 2.42
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KAO-DD-12-139 230 246 16 2.22
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including 234 242 8 3.28
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and 258 260 2 2.05
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KAO-DD-12-142 46 50 4 1.01
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and 254 260 6 1.98
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KAO-DD-12-143 208 214 6 1.03
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and 312 314 2 1.38
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KAO-DD-12-148 196 204 8 0.80
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KAO-DD-12-149 162 164 2 1.26
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and 246 258 12 2.02
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and 258 272 14 1.12
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KAO-DD-12-152 228 234 6 0.92
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and 266 272 6 1.45
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KAO-DD-12-153 140 148 8 1.42
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and 242 248 6 0.94
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Notes: Interpreted true thicknesses for these intercepts are between 90 and
100 percent.
The 100% owned Kao is part of the Company's Karma Project which comprises 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. It is expected that the results of this drilling will add to the overall resources of the Karma Project deposits. The results of a Preliminary Economic Assessment have recently been released (see Company news release dated August 20, 2012), highlighting the Karma Project to be a robust project.
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 samples were prepared at the independent Abilab Burkina SARL laboratory in Ouagadougou, Burkina Faso, West Africa (part of the ALS Chemex Group), and assayed using standard fire assay with an atomic absorption finish, with samples grading over one gram per tonne gold re-assayed with a gravimetric finish, either in Burkina Faso or at the ALS Chemex facility in North Vancouver, British Columbia, Canada.
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. Addition 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 .
September 10, 2012 (MarketWatch)
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.
