Riverside Resources and Partner Mexigold Corp. Identify Two New Gold Target Areas At The Catrina Gold Project
October 11, 2011 – Vancouver, BC: Riverside Resources Inc. ("Riverside" or the "Company") (TSX-V: RRI) is pleased to report that two new target areas have been identified through the recent drill targeting, trenching, and soil geochemical program at the Catrina Gold Project in Durango, Mexico. Riverside and partner Mexigold Corp. (TSX-V: MAU) completed an extensive soil sampling program consisting of 856 samples within an area of 4 km by 4 km. Laboratory results have now been received and the sampling has confirmed the persistence of four previously identified exploration targets (Catrina, La Dura, Patos and El Bordo), and revealed two new target areas (El Palmito and El Jaspe). These targets have gold, silver, indicator metal and mineral associations typical for epithermal breccia pipes and hydrothermal systems. Mine areas with similar associations in the region include Penasquito (Goldcorp), San Sebastian (Silver Standard) and Guanacevi (Endeavor Silver).
An analysis of the soil geochemistry values in relation to previously completed geological mapping, sampling and IP/magnetic geophysical results identified several high priority targets for follow-up. An excavator was recently mobilized to the property and surface trenching, detailed rock chip sampling and mapping was initiated. The Company is awaiting initial assays from the trenching program which will be used to finalize targets for an upcoming drill program. Nine trenches were made at Catrina for 2,280 m of total trenching. Seven of the nine trenches were made at the Catrina target and two at La Dura. A total of 904 trench assay samples were collected and are currently being assayed.
“The recent work at Catrina has expanded and refined existing targets while generated new targets areas on this gold-silver Project,” stated John-Mark Staude, President and CEO of Riverside Resources Inc. “This work brings the Project to a drill-testing stage and we anticipate drilling to begin once Mexigold finalizes their targeting strategies and we complete a site review later this month,” added Staude.
Results for each target are as follows:
- Catrina: The Catrina area returned very strong sample results, with a large As-Au soil geochemical anomaly 700 m x 350 m in extent trending NNE-SSW and coinciding with a zone of quartz-alunite-clay alteration in sedimentary host rocks outlined by previous work. This is a high priority drill target to be tested in the planned drill program.
- La Dura: Sampling has identified an extensive NE trending Au-As-Sb-Zn soil geochemical anomaly coincident with alteration identified through surface mapping, sampling and structural interpretations. Individual anomalous Au values along a trend southwest of La Dura suggest that this anomaly may extend toward the Catrina area approximately 200m south.
- Patos: Soil sampling in the Patos area defined a 500 x 250 m soil geochemical anomaly in Au, Ag, As, Sb, Pb, Zn, Hg and Mn coincident with previously mapped alteration and within a sharply defined NW-trending magnetic low that stretches southeast toward the El Bordo and northwest toward the El Palmito area.
- El Bordo: Samples elevated in As, Sb and Pb overlie this previously identified target and trend NW along the magnetic low that stretches between El Bordo to the southeast and El Palmito to the northwest. Some of these samples have identified zones of previously unknown mineralization.
- El Palmito: This newly-discovered target area displays a polymetallic Pb-Cu-Zn-Mo-Au-Sb soil anomaly overlying a magnetic high and at the termination of a magnetic linear low from the southeast. The presence of K-feldspar veinlets, copper-oxide mineralization and intrusive rocks containing pyrite indicate potential as a porphyry-copper target.
- Jaspe: This new target area is situated west of La Dura on a northeast trending magnetic low and consists of an Au-As-Pb-Zn-Sb soil anomaly coincident with a zone of jasperoid alteration, in a layer of muddy limestone within sandstone host rocks. This zone indicates potential for a carbonate replacement precious metal target.
These targets have characteristics similar to mine areas within the Mesa Central region where substantial investment and abundant exploration activity are currently taking place. For more information please visit www.rivres.com.
Assaying and Qualified Person:
The scientific and technical data contained in this news release were prepared under the supervision of Mark J. Pryor, Pr.Sci.Nat, an independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided in this news release is accurate and acts as a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Riverside Resources Inc.:
Riverside is a well-funded prospect generation team of focused, proactive gold discoverers with the breadth of knowledge to dig much deeper. The Company currently has approximately $10,000,000 in the treasury and fewer than 35,000,000 shares issued. Riverside`s model of growth through partnerships and exploration looks to use the prospect generation business approach to own resources, while partners share in de-risking projects on route to discovery. Additional property information on the Company’s projects can be found on the Riverside Resources Inc. website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
Dr. John-Mark Staude, President & CEO
For additional information contact:
Manager, Corporate Development
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