Riverside Resources and Hochschild Mining Progress with Exploration Work at the Cuarentas Project, Sonora, Mexico
Vancouver, British Columbia--(Newsfile Corp. - December 8, 2020) - Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) ("Riverside" or the "Company"), reports that surface exploration continues at the Cuarentas Gold Project (the "Project") located in northern Sonora, Mexico. Recent trenching and channel sampling work from the Santa Rosalia Sur and El Centro targets returned encouraging assay results in a continuous 1.7 km mineralized structural trend, "El Testerazo" (see Figure 1). The Cuarentas Project is located approximately 20 km to the east of Premier Gold Mines' Mercedes Mine and 40 km northwest of Silvercrest Metals' operation Las Chispas. The Company is partnering with Hochschild Mining which has been granted an earn-in option in respect of the Project. For further details, see the press release dated June 24, 2020.
Riverside's President and CEO, John-Mark Staude, stated: "Exploration is progressing well with the trenching and sampling on the additional targets along the primary Testerazo structural trend. Our team is building confidence in Centro and Santa Rosalia Sur targets and will continue progressing the exploration of this well-endowed district. After years of work on various parts of the district it is exciting to see the drilling going well and defining at least 4 separate shear zones, vein zones with gold mineralization present at the surface. We see interesting potential here for upside expansion from past mining operations."
Figure 1: Simplified map of the Testerazo structural trend, including from NW the Santa Rosalia, El Centro and Santa Rosalia Sur targets to the SE. The map displays locations of the new trenches, the primary structural zone, and location of the new channel results overlapping the soil program executed in October 2020 (see press release of October 8, 2020).
To view an enhanced version of Figure 1, please visit:
New Exploration Results:
Geologically, Riverside's wholly owned project is hosted within a volcanic sequence overlaying the Upper-Cretaceous Bisbee group known for hosting some of the major deposits such as the Santa Gertrudis Gold Mine of Agnico Eagle and Santa Elena mine of First Majesitc and the overlying Late Cretaceous volcanics which host Mercedes and Las Chispas mines. The mineralized volcanic hosting sequence at Cuarentas is a succession of rhyolitic and andesitic units alternating flows and volcaniclastics, which are both crack filled and partially replaced by the hydrothermal fluids bringing silica, calcite and gypsum from a possible not too distant magmatic ("porphyry-style") source.
Riverside to date has excavated over 10 trenches across segments of the 2.5 km long Testerazo shear zone trend as shown in Figure 1 and results presented in Table 1. To comply with limiting impact and working with the Company's environmental permit trenches were constructed with a backhoe, leading to 25 meters length segments and done in a en-echelon fashion to develop a stronger understanding of the shears that come to surface along varying topography. The trenching program was successful to test the surface width of the mineralized structural corridor and provide a better understanding of the geology and data on the gold content at Santa Rosalia Sur and El Centro target where a coincident 500 m long gold-in soil anomaly has been identified (see press release of October 8, 2020).
Results from trenching have returned gold values over significant widths and include: 25 m of 0.27 g/t Au, with 2.5 m of 1.96 g/t Au among other results with results in table below.
Table 1: Trenching Sample Results from Santa Rosalia Sur
|Trench ID||Target||Length (m)||Grade Au (g/t)|
|2F||Santa Rosalia Sur||12.5||0.59|
|1D||Santa Rosalia Sur||12.5||0.33|
|3A||Santa Rosalia Sur||25.0||0.27|
|1A||Santa Rosalia Sur||2.5||0.54|
|1B||Santa Rosalia Sur||7.5||0.31|
|1C||Santa Rosalia Sur||7.5||0.38|
|3B||Santa Rosalia Sur||22.5||0.17|
|5B||Santa Rosalia Sur||6.0||0.24|
Figure 2: Simplified blow up map of the Santa Rosalia Sur Target, showing locations of the new trenches and channel results. Drill hole LC-20-10 shows good alteration, wide silicification and favorable potential for growing a significant new discovery.
To view an enhanced version of Figure 2, please visit:
New channel samples collected along trend in the Centro target provide indicators for possible gold mineralization and large shears under thin cover. The mineralized veining at the Centro target trends southward. The zone progresses eastward into the northern extension of Santa Rosalia Sur and has assayed up to 2.23 g/t Au over 1 m (see Table 2 & Figure 2). El Centro target, outcrop exposure is limited due to the steep slope escarpment, cover material and thick vegetation.
Table 2: Centro Target Channel samples results
|Channel ID||Target||Thickness (m)||Grade Au (g/t)|
Riverside and Hochschild keep progressing the program and will be compiling data and looking forward to the drill assay results in the coming weeks.
Qualified Person & QA/QC:
The scientific and technical data contained in this news release pertaining to the Los Cuarentas Project was reviewed and approved by Freeman Smith, P.Geo, a non-independent qualified person to Riverside Resources, 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.
Rock and core samples collected at Cuarentas were taken to the Bureau Veritas Laboratories in Hermosillo, Mexico for sample preparation and fire assay analysis for gold and silver. The rejects remained with Bureau Veritas in Mexico while the pulps were transported to Bureau Veritas' laboratory in Vancouver, Canada for 45 element ICP/ES-MS analysis. A QA/QC program was implemented as part of the sampling procedures for the exploration program. For the drilling program standards, blanks and duplicate samples were inserted every 20 samples into the sample stream prior to the sample batches being sent to the laboratory in Mexico. For trench sampling standards, blanks and duplicates were also inserted into the sample stream with at least one blank, standard and duplicate for each trench with the total amount of quality control samples per trench depending on the total amount of samples within the trench.
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 69M 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.
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