Riverside Samples 25.7 g/t Gold from Selected Rock Samples at the Los Cuarentas Project in Sonora, Mexico
Vancouver, British Columbia--(Newsfile Corp. - January 20, 2020) - Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: R99) ("Riverside" or the "Company"), is pleased to report on rock sampling and field work from the Los Cuarentas Gold Project (the "Project") in Sonora, Mexico. The Project is located immediately west of Silver Crest's Las Chispas high-grade Ag deposit and along the east boundary of Premier Gold Mines, Mercedes Mining Operation and property tenure. These adjacent deposits and operations have high-grade precious metals hosted within low sulfidation epithermal veins, which provide context for the target type Riverside is pursuing at Los Cuarentas.
- 16 rock samples collected at two of the primary targets
- Best selected sample for gold was 25.7 g/t Au
- Three (3) primary targets identified for prospective drill program during 2020: Santa Rosalia, Santa Rosalia Sur and El Sombrero
- High-grade historical results up to 29.4 g/t Au outside of the primary targets which provide additional areas for a future prospective work
The Los Cuarentas Project was acquired through a transaction with Millrock Resources, where Riverside received a portfolio of five (5) mineral properties along with equipment and data for cash and shares (see press release June 26, 2019). Riverside's recent data compilation and field mapping at the Project has shown significant potential from the main targets with near-surface high-grade gold assay results.
Riverside collected a total of 16 rock samples from selective areas from its first sampling program at the Project with six (6) of the samples returning greater than 5 g/t Au and up to 25.7 g/t Au and 119.7 g/t Ag (see Table 1 below). Riverside's exploration team mapped and re-sampled known historical work areas to validate the accuracy of the high-grade samples collected in the past and to initially confirm two of the primary targets; Santa Rosalia and Santa Rosalia Sur.
The results from the 16 samples collected by Riverside have been encouraging with the top six samples providing high-grade assays and a good starting point for the Company to continue to work up and further expand targets at Los Cuarentas, which includes areas around and expanding from the former mining operations and major extensive exposed undrilled vein systems.
Table 1: Six Best Gold Assay Results from Riverside's Selective Sampling at Los Cuarentas
Santa Rosalia Sur
Santa Rosalia Sur
Riverside's President and CEO, John-Mark Staude, stated: "Riverside is pleased with this first set of results from Los Cuarentas, which are consistent with the historical results and reports we've obtained. This is a district that has seen a number of older historical high-grade mines become new development projects in the past 5 years and mines with new exploration and drilling growth. The latest work by our technical team and corresponding results are very encouraging and we intend to accelerate exploration efforts at Los Cuarentas given the potential for new high-grade gold discoveries across the property."
Figure 1: Geological map showing Riverside and Historical Rock Samples, Riverside's targets and cross sections location
To view an enhanced version of Figure 1, please visit:
Riverside has set its focus on two initial targets: Santa Rosalia and Santa Rosalia Sur. The continuous expression at surface of veining, alteration and high-grade values for a combined 1.8 km strike distance makes Santa Rosalia and Santa Rosalia Sur priority targets for further exploration and drilling.
Recent prospecting efforts and data compilation discovered that the gold mineralization occurs along northwestern trending structural zones and high-grade zones within structural flexures and intersections. Sub-parallel splays of the Santa Rosalia and Santa Rosalia Sur structural zone host additional mineralized systems, where some of the best historical samples were collected returning up to 29.4 g/t Au. Some historical samples are located outside of Riverside's primary targets and constitute a new expansion area for future exploration program increasing the size of the epithermal system (see Figure 1 above).
The Santa Rosalia mineralized zone consists of multiple sub-parallel gold-bearing low sulfide quartz veins following an east-west trend called the Santa Rosalia Mine fault. This fault extends for approximately 1 km where gold values are significant and open. Flexure of the Santa Rosalia Mine fault and fault intersections host high-grade gold bearing veins and breccia shoots. Those well-developed structural zones are typically 1 to >3 m in width and as large as 8 metres in width, where Riverside's sample returned 25.7 g/t Au in vuggy quartz vein and 5.3 g/t Au in the vein-bounded stockwork. The vein material at surface shows evidence of hydrothermal boiling with bladed quartz after calcite.
Historical workings from the 1950's immediately south of the Santa Rosalia Target comprises vertical stopes from surface that extend down 230 metres (see Figure 2 below) and are interpreted to be continuous for over 200 metres along strike from the field mapping.
Figure 2: Interpreted Cross Section of Santa Rosalia Target
To view an enhanced version of Figure 2, please visit:
Santa Rosalia Sur:
Santa Rosalia Sur is characterized by a well-defined 800 m long strike structural zone showing evidence of hydrothermal alteration (see press release September 11, 2019). The mineralized system outcrops on top of a reddish hill with a rhyolite dome similar to key mining districts in Mexico and the structure is a sheeted set of shallow dipping veins hosted in clay altered andesitic to dacitic rocks. The observed mineralization consists of stockwork, hydrothermal breccias and sheeted quartz veins formed by a multistage silica filling with near-boiling level textures such as banded quartz veins and commonly moss and lattice textures.
The mineralization extends at surface for at least 50 metres along a northwestern trend is 30 m in width and demonstrates high-grade gold samples averaging 1.8 g/t Au. Two samples within sheeted veins located 25 metres apart returned 1.9 and 6.8 g/t Au from 1 m channel samples (see Figure 3 below). Historical results returned multiple high-grade samples in the same area up to 14.8 g/t Au. The outcropping vein zone is bounded to the south and to the east by post-mineral faults leading to possible vertical displacement of the mineralized body.
Santa Rosalia Sur encompasses a dozen small old workings. Most of them are located along the northern end of the hill and target high-grade sheeted veins. The extent of the old workings are not currently known.
Figure 3: Interpreted cross-section of Santa Rosalia Sur Target
To view an enhanced version of Figure 3, please visit:
As initially described in Riverside's press release dated September 11, 2019, the alteration is very extensive and shows higher temperature alteration minerals such as dickite, pyrophyllite and kaolinite. The highly silicified cap and the high-level boiling alteration mapped at El Sombrero extend along an E-W structural trend called the El Sombrerito, which constitutes a target at depth and further work during early 2020 is now beginning to document the expansion potential.
The area to the west of the primary targets has seen limited exploration. Historical results sampled by Millrock in 2017 and 2018 returned some of the highest grades at the Los Cuarentas Project overall, including a rock-chip sample of 16.5 g/t northwest of El Sombrero and a float sample returning 29.4 g/t Au and 149 g/t Ag along a structural zone parallel to the south of Santa Rosalia. Early exploration is highlighting structural intersections that could lead to high-grade gold deposition.
Additional mapping and structural analysis will be conducted at the El Sombrero target along with further sampling of the mineralized trend to provide validation on the high-grade gold historical results. The ongoing work will also prioritize drill targeting over Santa Rosalia and Santa Rosalia Sur, which will confirm extension of mineralization at depth.
Figure 4: Left picture: Extensive alteration at Santa Rosalia Mine. Right Picture: Hydrothermal breccia outcrop at Santa Rosalia Sur
To view an enhanced version of Figure 4, please visit:
Qualified Person and QA/QC:
The scientific and technical data contained in this news release pertaining to the Los Cuarentas Project was reviewed and/or prepared under the supervision of Freeman Smith, P.Geo., a non-independent qualified person to Riverside Resources Inc. who is responsible for ensuring that the geologic information provided in this news release is accurate and who acts as a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Regarding previous historical operators work on the Los Cuarentas Project. The reliability of historical data is uncertain but is considered to be relevant by Company management as a portion of the historical sampling was resampled and verified; however, there is a risk that the Company's confirmation work or future drill testing may produce results that substantially differ from the historical results. Regarding the sampling methods; selected samples are not necessarily representative of the mineralization hosted on the property.
Rock samples collected were taken to the Bureau Veritas Laboratories in Hermosillo, Mexico for fire assaying for gold. The rejects remained with Bureau Veritas in Mexico while the pulps were transported to Bureau Veritas' laboratory in Vancouver, BC, Canada for 45 element ICP/ES-MS analysis. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Standard samples were randomly inserted into the sample stream prior to being sent to the laboratory.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has no debt and less than 63M shares outstanding with a strong portfolio of gold-silver and copper assets in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside's own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has additional properties available for option, with more information available on the Company's website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
Dr. John-Mark Staude, President & CEO
For additional information contact:
Riverside Resources Inc.
Phone: (778) 327-6671
Fax: (778) 327-6675
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., "expect"," estimates", "intends", "anticipates", "believes", "plans"). Such information involves known and unknown risks -- including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51639