VANCOUVER, BRITISH COLUMBIA, Apr 11, 2012 (MARKETWIRE via COMTEX) — Riverside Resources Inc. (“Riverside” or the “Company”) (tsx venture:RRI)(pinksheets:RVSDF)(frankfurt:R99) and partner Mexigold Corp. (“Mexigold”), are pleased to report the recent completion of drilling at the Pedernal Gold Project (“Pedernal” or the “Project”) in Durango, Mexico, which intersected the upper part of a gold-bearing epithermal vein system. An initial seven holes were drilled, totaling 1,549 metres, to test three of the eight vein zones identified thus far through geologic prospecting, detailed mapping, soil sampling, ground geophysics and trenching on the property. The drilling has demonstrated favorable indications for both vein and potentially larger bulk tonnage mineralization styles. This was the first known drill program on Pedernal, and covered less than 10% of the 23,716 hectare mineral concession. Follow-up exploration can now take place to test additional target zones on the property, including expanding the Milpa target zone which has given the best gold-silver results so far.
Riverside’s President and CEO, John-Mark Staude, said, “We are excited about the progress at Pedernal and look forward to the continuation of further geologic exploration and follow-up drilling on targeted veins on the project. This drill program evaluated some of the target areas identified by Riverside while doing work on the Exploration Alliance with Kinross Gold, and now we see potential for a much larger second phase of drilling and exploration with our partner Mexigold.”
The Pedernal drill holes were targeted to test favorable surface rock-chip and trench gold assays on three outcropping mineralized quartz vein zones where assays had indicated gold anomalies. Three zones, the Tablones, Ranchito and Milpa vein systems, were shallowly drilled, with results indicating favorable vein morphology, alteration and geochemistry that demonstrate the potential for improved mineralization down-dip and along strike. The best assay results are from the Ranchito and Milpa zones, including up to 0.38 g/t Au, which for the upper part of a newly discovered epithermal system is a positive exploration step.
A table of highlighted results is shown below:
———————————————————————–
—–
From To Core Length Au
Hole Zone (m) (m) (m) (g/t)
—————————————————————————-
PD-12-02 Tablones 32.0 34.9 2.9 0.12
—————————————————————————-
48.2 49.9 1.7 0.14
—————————————————————————-
PD-12-05 Milpa 34.2 36.0 1.8 0.13
—————————————————————————-
38.3 44.4 6.1 0.19
—————————————————————————-
58.9 62.4 3.5 0.12
—————————————————————————-
85.9 87.8 1.9 0.14
—————————————————————————-
107.5 109.4 1.9 0.13
—————————————————————————-
PD-12-06 Ranchito 12.0 14.5 2.5 0.18
—————————————————————————-
20.2 46.0 25.8 0.13
—————————————————————————-
including 21.2 23.3 2.1 0.21
—————————————————————————-
including 30.5 31.5 1.0 0.34
—————————————————————————-
PD-12-07 Ranchito 53.4 54.6 1.2 0.26
—————————————————————————-
87.5 96.1 8.6 0.16
—————————————————————————-
including 87.5 88.9 1.4 0.35
—————————————————————————-
Note: core lengths are apparent width; true width is approximately 95% of apparent width.
It is clear from the geometry, textures, fluid-inclusion temperatures, and geochemistry of the veins sampled at Pedernal that the drill holes intersected the upper levels of a low-sulfidation epithermal system. Drilling demonstrated down-dip continuity of up to 300 m from surface in the Tablones zone (holes PD-12-01, 3, 4), to a depth of 100 m in the Ranchito zone (PD-12-05), and to a depth of 250 m in the Milpa zone (holes PD-12-06, 7).
Drilling demonstrated that the most abundant vein types are dominated by either quartz or calcite with an accompanying propylitic assemblage of chlorite and pyrite, with or without specularite or red hematite. In some places veinlets aggregate to form stockwork zones. The best gold values accompany matrix-supported, quartz- and calcite- cemented breccia, typically with brecciated clasts indicating multiple brecciation events similar to well known vein systems in the Zacatecas Mining District and Guanajuato Mining District. Veins and alteration at Pedernal show features similar to the San Sebastian Mine to the south and the Fresnillo District to the southeast.
Assaying and Qualified Person
Riverside Resources is the operator of Mexigold’s exploration program in Mexico. Core samples were sent to Inspectorate’s sample-preparation lab in Durango City, Durango. Pulps were subsequently sent to Inspectorate’s assay lab in Sparks, Nevada, USA for Au and Ag by fire assay and a 30-element, trace-level ICP package with aqua regia digestion. Inspectorate’s Sparks, Nevada analysis lab is certified to ISO 9001:2008.
Riverside implemented a rigorous quality assurance and quality control program that included insertion into the sample stream of commercially prepared gold and copper-gold reference standards, local coarse blanks, and duplicate samples. The total number of drill samples sent to the lab was 789; a total of 115 QA/QC control samples were submitted, representing 14.6% of the drill samples. All QA/QC results were reviewed and deemed acceptable. All of the assays for Au and Ag fall within three standard deviations or 95% confidence of the accepted values for the standard reference materials.
The scientific and technical data contained in this news release relating to the drill results at the Pedernal Project was prepared by David S. Smith, MS, MBA, CPG, a 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.
ON BEHALF OF RIVERSIDE RESOURCES INC.
Dr. John-Mark Staude, President & CEO
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.
Contacts:
Riverside Resources Inc.
Joness Lang
Manager, Corporate Development
(778) 327-6671
(778) 327-6675 (FAX)
[email protected]www.rivres.com
Riverside Resources Inc.
Kaley Reid
Corporate Communications
(778) 327-6671
(778) 327-6675 (FAX)
[email protected]www.rivres.com
