Picture

Riverstone Reports 62 8 gt Gold over 16 metres at Yaramoko

By: Admin
Date Added : September 7, 2011 Views : 344
Rate Author : Current : 2.93 /5
Rate this PR : Current : 2.80 /5





Exchange/Symbols: TSX-V: RVS  |   Frankfurt: 3RV  |  OTCQX: RVRES

Shares Outstanding: 103,485,621 


Stock price: C$ 0.62  |  Close: September 6, 2011  (Halt Trading)
52 week low:  C$ 0.445
52 week high: C$ 1.09




Riverstone Reports 62.8 g/t Gold over 16 metres at Yaramoko 


 



September 7, 2011 (NWN) Riverstone Resources Inc. (“the Company”) TSX-V: RVS, is pleased to report additional positive results from the drilling program on the Yaramoko gold permit in Burkina Faso, West Africa.  Assays include data from 13 of the 44 diamond drill holes that were drilled on Bagassi Central in the period June through August.  (See maps on Website).  Assays are pending for the remaining 31 holes of which  21 holes contain visible gold, including eight of the ten holes drilled more than 175 metres west of the holes reported in this release.  These eight holes may be a continuation of the structure evident at Bagassi Central. 

HIGHLIGHTS INCLUDE:

•    62.8 g/t gold over 16 metres, including 226.9 g/t over 3 metres in DDH-022
•    17.2 g/t gold over 12 metres, including 32.3 g/t gold over 6 metres in DDH-009
•    14.1 g/t gold over 9 metres, including 42.6 g/t over 2 metres in DDH-06

“We are very pleased with these results from the Yaramoko drilling program,” commented Michael D. McInnis, President and CEO of Riverstone Resources. “These results confirm and expand the high grade intercepts that were previously reported for this zone in our news release dated April 8, 2011.  This clearly is an important high-grade gold discovery that remains open for expansion.”

The Yaramoko property is one of three Riverstone properties that are subject to an Option Agreement with Roxgold Inc. Under the terms of the Option Agreement, Roxgold can earn a 60% interest in the Yaramoko property by incurring exploration expenditures of $1.5 million and issuing a total of 360,000 Roxgold shares and a total of $100,000 to Riverstone over the three year term of the agreement. 


Significant results are reported in the table below:


Interval (m) Intercept Average
Hole number From To (metres) Grade (g/t Au)
DDH-005 48 50 2.0 39.0

DDH-006 73 82 9.0 14.1
incl 78 80 2.0 42.6

DDH-007 89 99 10.0 6.2
incl 89 91 2.0 18.1

DDH-008 48 51 3.0 17.3

DDH-009 68 80 12.0 17.2
incl 74 80 6.0 32.3

DDH-011 50 53 3.0 2.4

DDH-012 43 47 4.0 11.6
and 78 83 5.0 1.4
and 87 99 12.0 5.2

DDH-015 54 58 4.0 5.5

DDH-016 101 113 12.0 5.4

DDH-022 45 61 16.0 62.8
incl 46 49 3.0 226.9

Note: Drill holes DDH-010, DDH-013 and DDH-014 reported either low grade
values or no significant results. Interpreted true widths are
estimated to be between 60-75% of drill core length. 


The holes reported in this release are all from the Bagassi Central target in an area referred to as the “55 Zone”.  55 Zone has been tested over a strike length of 300 metres with holes drilled on 25 metre fences.  Assays are pending for an additional 17 holes drilled in 55 Zone.  The zone is open to the west and to depth.  A second zone, the 35 Zone, is located 175 metres to the west of the 55 Zone and has been tested with 10 drill holes. Assays are pending for this zone.

Riverstone Resources Inc. is active in gold exploration in Burkina Faso, West Africa, where the company holds an extensive portfolio of six high quality exploration projects covering 2,300 square kilometres.  The Company’s most advanced project is Karma, which comprises a NI 43-101 compliant gold resource of 810,600 ounces of gold in 22,845,000 tonnes grading 1.10 g/t gold in the indicated category and 1,119,100 ounces of gold in 44,100,000 tonnes grading 0.79 g/t gold in the inferred category.  (See news release dated February 28, 2011).  Since the resource was calculated in February 2011, the Company has drilled in excess of 40,000 additional metres, and it is expected that the result of this drilling will add to the resource. 

QUALITY ASSURANCE/QUALITY CONTROL

Roxgold is the operator of this drill program and maintains a quality control program involving the use of repeat assays, inserted blanks and the use of certified standards from an accredited Canadian laboratory. In order to avoid delays associated with assaying facilities in Burkina Faso, all Yaramoko assays reported in this press release were assayed at TSL Laboratories in Saskatoon, Saskatchewan using metallic screening techniques with duplicate assays performed on every fortieth sample. These samples were selected based on the presence of visible gold and/or increased silicification and sampled at one metre intervals.  The remainder of each drill hole has been sampled on two metre interval and samples grading over one gram gold per tonne in initial fire assay/atomic absorption assays will be 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. A high level of exploration and development activity in the gold sector in Burkina Faso has resulted in an increase in the turnaround time for receiving all gold assays.


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”
______________________________________
Michael D. McInnis, P. Eng., President & CEO

For further information contact:

Vancouver Office:                         
Michael D. McInnis, President   604-801-5020         
Email:  info@riverstoneresources.com
 
Raju Wani, Investor Relations             403-240-0555
Ron Cooper, Investor Relations           604-986-0112
Don Mosher, Corporate Development 604-685-6465




Additional Links :


Contact Info

President,Michael D. McInnis
Phone : 604-801-5020

Email : info@riverstoneresources.com

Post Comments

Name : 
EmailAddress : 
URL : 
Comments : 
Code : 
 

Press Release Categories