Riverstone Intersects 3.07 g/t Gold Over 20 Metres at Goulagou I
Significant assay intervals in these core holes include:
- 3.07 g/t Au over 20 m, 2.55 g/t Au over 6 m and 2.17 g/t Au over 8 m in DD-12-100
- 2.34 g/t Au over 14 m and 1.27 g/t Au over 16 m in DD-12-075
- 2.11 g/t Au over 10 m, 2.22 g/t Au over 10 m and 1.70 g/t Au over 30 m in DD-12-086
- 2.94 g/t Au over 6 m in DD-12-094
- 1.84 g/t Au over 48 m in DD-12-98
Mineralization at GGI extends over 2,100 metres east-west and to as much as 200 metres in depth in localized areas of deeper drilling. Some of the intercepts reported in this release have extended high grade mineralization 30 to 50 metres down dip from previous drill holes and in other instances have confirmed a higher-grade mineralized shoot on an intermediate section. The high grade mineralized shoots remain open to depth and locally along strike.
"Five mineralized zones have been discovered at Karma to date, and all contain significant high grade shoots" commented Dwayne L. Melrose, President and CEO of Riverstone. "Delineation of these shoots could enhance the overall grade of the deposits, which should be reflected in the updated resource estimate due for release in September of 2012"
A more complete summary of significant results in these drill holes is presented in the following table:
|Hole number||Interval (metres)||Intercept||Average|
|From||To||(metres)||Grade (g/t Au)|
Interpreted true thicknesses for these intercepts are between 60 and 70 percent or the reported intersection.
Holes GLG-DD-12-064 and 089 had no significant intercepts.
The 90% owned GGI deposit 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, when the resource estimate is updated in September of 2012.
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 4, 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.