Riverside continuously works to generate new quality projects. The Company leverages its 75,000 location mineral database, exploration experience and technical strength to identify high potential prospects.
The Company’s 100% owned projects are advanced towards a drill-ready stage, at which point Riverside will either complete a targeted drill program itself, or de-risk the project by bringing a partner on board to inject the higher risk capital needed for drilling out a major discovery. Riverside will continue using its hybrid prospect generator approach to unlock value for its shareholders.
Riverside has acquired the option to earn 100% of two large mining concessions, creating the consolidated Cecilia gold project. The project’s concessions were previously owned by Gunpoint and Millrock Resources. The project is a low-sulphidation epithermal gold-silver project and has seen significant exploration including drilling by past owners.
The Peñoles Property is a 142 square km concession located in the Penoles Mining District, Durango, Mexico. Recent drilling highlights include 33 m of 1.7 g/t gold.
The 61 km² Tajitos Gold Project is located in the heart of the Sonora-Mojave Megashear Gold Belt. The Project was acquired by Riverside from a private owner and is owned 100% with no underlying royalties. Since acquiring the property, Riverside has completed multiple surface and underground sampling and mapping programs and has staked additional ground (Tejo & Cortez claims) to expand the land package. Initial exploration with Centerra is expected to include further geophysics and trenching followed by a 2nd phase with drilling.
The 128 km² Thor Project (the “Project”) was acquired as part of Riverside’s strategic alliance with Antofagasta Minerals PLC for generative exploration throughout the southern extension of the Laramide Copper Belt in Northwest, Mexico. Thor was nominated as a Designated Project (“DP”) (see press release April 13, 2015), and as per the agreement, Riverside’s alliance partner will have the opportunity to earn a 65% interest in the project by spending $5,000,000 in exploration over the next four years.