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Riverside Resources Inc.
Summary
| Project: | Glor | |
|---|---|---|
| Deposit: | Glor | |
| Location: | Mexico | |
| Commodities: | Gold | |
| Date: | 6/19/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 19-6-2017: Riverside Resources Inc. announces an Exploration/Drilling Update report for its Glor deposit at the Glor project. JV with Centerra Gold - drilling results incl. 11.0m @ 0.591g/t Au from 122.0m. June 19, 2017 – Vancouver, BC: Riverside Resource | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Locke Goldsmith (Internal) | |
| ABSTRACT: | June 19, 2017 – Vancouver, BC: Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V: RRI), has completed an initial nine-hole diamond core drilling program at the 4 km² Pitaya Target within the 36 km² Glor Gold Project (the “Project”), which is being explored with funding by partner, Centerra Gold Inc. (“Centerra”). The Project hosts five key target areas and is located approximately 8 km west of Alamos Gold’s El Chanate Mine in Sonora, Mexico. The recently completed drill program focused on the Pitaya Target located in the north-eastern sector of the Project, which had been defined by partner-funded soil geochemistry and induced polarization geophysical surveys and then further investigated with mechanical trenching and chip-channel sampling (see Company press releases issued on February 15 and April 17, 2017). Riverside’s President and CEO, John-Mark Staude, stated: “Given the trench sampling intervals gave disseminated gold values in the range of 0.5-1 g/t Au at the Pitaya Target, we are surprised that this initial drill campaign didn’t manage to replicate these results. We’ve been mapping and sampling the larger Glor tenement finding numerous areas with gold and remain positive on the Project’s potential. So far we’ve developed five target areas and have only trenched and drilled one. The four additional target areas will be field sampled and worked on in the coming months to determine if another drill program will be pursued.” The gold assay results for the 9-hole drilling campaign are in general weaker than the assay results that were obtained from the chip-channel samples collected from the trenches in the immediate area of the Pitaya drill-holes. A possible explanation for the discrepancy between the drilling and trench sampling results is that the extensive mineralization sampled on surface transect in trenches Tr-01 and Tr-02 occurs in a zone of altered andesite that is exposed along an easterly inclined dip-slope in the local topography. (Drill-hole G17-002D appears to have perpendicularly intersected the subsurface down-dip continuation of this zone of gold mineralization (see Figure 2) indicating a true thickness of approximately 11 meters. | |
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