VANCOUVER,
BRITISH COLUMBIA--(Marketwire - Nov. 24, 2009) - Riverstone Resources Inc. (TSX VENTURE:RVS)(FRANKFURT:3RV) is pleased to announce additional results from the
Rotary Air Blast (RAB) drill program recently completed on the Company's Karma
gold project in Burkina Faso, West Africa. The Karma project comprises four
gold deposits in close proximity to each other – the GG1, GG2, Rambo and Kao
deposits. Results from the recent RAB drilling in the vicinity of the GG1
deposit were previously reported (see news release dated Nov 3, 2009).
The results reported herein are from the RAB drilling carried out on targets
adjacent to the GG2 and Rambo deposits. The results received from the RAB
drilling near the GG2 deposit have potentially extended the deposit by up to
350 metres to the northwest. The results from the RAB drilling near the Rambo
deposit have defined two new gold zones along strike from the deposit. All of
the GG1 and Rambo zones indicated by the RAB drilling are open for extension
along strike.
The
GG2 deposit hosts NI43-101 compliant resources of 390,500 ounces of gold in the
indicated category and a further 48,600 ounces of gold in the inferred category
(see news release dated May 11, 2009). The RAB holes were drilled to
test several gold-in-soil geochemical anomalies in the vicinity of GG2 with the
objective of locating new mineralized areas. The best hole of this program
returned 0.71 g/t gold over the entire 51 metre length, including 1.43
g/t gold over 18 metres. This intercept potentially extends the GG2 deposit
to the northwest an additional 200 metres. This zone may also continue a
further 150 metres to the northwest, where a historical RAB drill hole assayed
0.82 g/t gold over 4 metres at the very end of the drill hole. This zone
remains open to the northwest, and a map showing the zone is available on the
Riverstone website: http://media3.marketwire.com/r/RiverstoneGG1GG2.jpg.
The
nearby GG1 deposit hosts a NI43-101 compliant resource of 140,400 ounces of
gold in the inferred category (see news release dated
May 11, 2009). The previously reported results from the RAB drilling
define a new 700 metre long zone just south of the GG1 deposit, and an
additional newly defined zone further south, both of which are open along
strike. Maps showing these zones may be viewed on the Riverstone website:
http://media3.marketwire.com/r/RiverstoneGG1GG2.jpg.
The
Rambo drilling was concentrated in the vicinity of two separate intercepts west
and east of the main Rambo NI43-101 compliant gold resource of 56,900 ounces of
gold at a grade of 7.02 g/t in the inferred category (see news release dated
May 11, 2009). Previous RAB drilling in 2008 intercepted 1.9 g/t gold over
36 metres, including 2.6 g/t gold over 21 metres, approximately 300 metres west
of the Rambo gold resource. The RAB drilling just completed has defined a zone
bracketing this intercept over a minimum 150 metres of strike length with
intercepts of 0.54 g/t gold over 12 metres and 0.36 g/t gold over 15 metres.
The
300 metres between the western edge of the Rambo gold resource and this new
zone remains untested by drilling. The favourable horizon has also been traced
by geophysics approximately 250 metres further to the northwest, where an
intercept of 0.74 g/t gold over 3 metres may mark the start of an additional
mineralized zone. A map showing these zones has also been posted on the
Riverstone website: http://media3.marketwire.com/r/RiverstoneRambo.jpg.
Several
anomalous intercepts to the south of this new zone, including 0.57 g/t gold
over 9 metres, may indicate one or more additional gold zones. These intercepts
lie along strike of surface rock samples grading 22.1 g/t gold, 71.6 g/t gold
and 134.1 g/t gold.
To
the east of the Rambo gold resource, a vertical 2008 RAB drill hole intercepted
1.24 g/t gold over 9 metres, including 3.3 g/t gold over 3 metres. Of four RAB
holes recently drilled around this intercept, one contained a zone of
mineralization, but the assays were low. It appears that this zone may have a
more northeasterly strike than originally interpreted, and it thus remains
undefined by drilling.
"The
recent RAB drilling targeted both untested gold-in-soils anomalies near the GG1
and GG2 deposits, plus the 2008 RAB intercepts at Rambo, in an effort to
identify new mineralized zones in close proximity to the known deposits"
commented M.D. McInnis, President of Riverstone. "This effort has been
successful in delineating new targets for Reverse Circulation drilling that may
add to the defined gold resource on the Karma project. We look forward to
continuing to grow this already substantial gold resource".
The
Karma project is comprised of four separate gold deposits containing a NI43-101
compliant global total of 820,500 ounces of gold in the indicated category, and
320,300 ounces of gold in the inferred category. The deposits are all open for
further resource expansion, and are spatially close together, allowing them all
to feed a potential central milling complex. Click here to view latest Karma
Gold Project overview map: http://media3.marketwire.com/r/RiverstoneOverview.jpg.
The Company maintains a
rigorous quality control program involving the use of repeat assays, inserted
blanks, and the use of certified standards from an accredited Canadian
laboratory. All RAB samples were assayed using standard fire assay with atomic
absorption techniques, with samples grading in excess of 2.00 g/t gold
re-assayed with a gravimetric finish, at the independent Abilab Burkina SARL
laboratories in Ouagadougou, Burkina Faso, which is part of the ALS Chemex
group.
Riverstone
Resources Inc. is active in gold exploration in Burkina Faso, West Africa,
where the company holds an extensive portfolio of high quality exploration
permits covering 2,300 square kilometres. For further information about the company
and its activities, please refer to the company's website at www.riverstoneresources.com and
under the Company's profile at www.sedar.com.
ON BEHALF OF THE BOARD
Michael
D. McInnis, P. Eng., President & CEO
Paul G. Anderson, P.
Geo. is a Qualified Person for RVS and has reviewed and approved the contents
of this release.
Certain
statements made and information contained in this news release and elsewhere
constitutes "forward-looking information" within the meaning of the Ontario
Securities Act. Forward-looking statements are subject to a variety of risks
and uncertainties which could cause actual events or results to differ from
those reflected in the forward-looking statements, including, without
limitation, risks and uncertainties relating to the interpretation of drill
results and the estimation of mineral resources, the geology, grade and
continuity of mineral deposits, the possibility that future exploration,
development results will not be consistent with the Company's expectations,
accidents, equipment breakdowns, title matters and surface access, labour
disputes, the potential for delays in exploration activities, the potential for
unexpected costs and expenses, commodity price fluctuations, currency
fluctuations, failure to obtain adequate financing on a timely basis and other
risks and uncertainties, including those described under Risk Factors in each
management discussion and analysis. In addition, forward-looking information is
based on various assumptions including, without limitation, the expectations
and beliefs of management, the assumed long term price of gold, that the
Company will receive required permits and access to surface rights, that the Company
can access financing, appropriate equipment and sufficient labour and that the
political environment within Burkina Faso will continue to support the
development of environmentally safe mining projects. Should one or more of
these risks and uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those described in
forward-looking statements. Accordingly, readers are advised not to place undue
reliance on forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.