Dr. John-Mark Staude reports
RIVERSIDE COLLECTS CHIP & GRAB SAMPLES UP TO 19.9 G/T GOLD & 200 G/T SILVER AT THE 100%-OWNED LA SILLA PROJECT IN MEXICO
Riverside Resources Inc. has released results from exploration work on its 100-per-cent-owned La Silla gold project located 75 kilometres northeast of Mazatlan in Sinaloa, Mexico. Riverside geologists collected 52 chip, channel and grab samples over the past month during a focused exploration program with assay results ranging from less than 0.05 gram per tonne gold up to 19.9 grams per tonne gold and from less than 0.05 gram per tonne silver up to 200 grams per tonne silver. Five of the samples returned greater than one gram per tonnegold (see attached table for highlighted samples). The new sampling program appears to have extended the strike length of known veins while also identifying new vein structures at the La Silla project.
Riverside acquired the La Silla project through the Mexican government's lottery process (see press release dated Nov. 17, 2015) by consolidating two large mining concessions covering an area of 2,305 hectares (approximately 23 square kilometres). Riverside's initial exploration program of mapping and rock-chip sampling obtained assay results ranging from less than 0.05 gram per tonne gold up to 7.24 grams per tonne gold and less than 0.05 gram per tonne silver up to 148.4 grams per tonne silver (see press release dated June 29, 2016). The current exploration program completed by Riverside expands on the previous work done at the project as Riverside refines targets in preparation for potential drilling in the near future.
Riverside's president and chief executive officer, Dr.John-Mark Staude, stated:"We are pleased with the recent sampling results at La Silla and are developing a stronger understanding of the gold and silver mineralization and their controls. The Ciruelo and El Roble veins show extensive strike, and we are working to define high-quality drill targets. Riverside is in discussions with prospective partners and will continue further exploration work as the company evaluates its options for forwarding the project."
The recent work focused on extending known areas of mineralization and further exploring the concessions for new showings, abandoned workings and potential structures that might host additional gold mineralization. The Ciruelo vein is located within the northern concessions and consists of an east-west-striking vein located along the contact between andesitic volcanics and overlying porphyritic dacites similar to the El Gallo district to the north operating with McEwen Mining in Sinaloa. The structure/vein is typically one metre to three metres wide and has been sampled over a distance of 1.5 kilometres remaining open for further strike length. Numerous shallow, old workings are found on this structure where local gambusinos (illegal miners) have accessed and processed small amounts of high-grade gold mineralization. The vein shows a pinch-and-swell form with larger, 30-metre breccia blowout areas similar to major Sierra Madre Occidental veins. The alteration envelope is typically from several to tens of metres in width comprising predominantly silicification with some argillic alteration. The best precious metal values are associated with green quartz veins, which have become a priority target where sample values have reached up to half an ounce of gold.
The El Roble vein located on the southern portion of the project was also explored and consists of north-northwest-trending veins within andesitic volcanics similar to various significant mining districts in the area, including San Dimas, Tayoltita and El Concheno mines. Prospecting and sampling the area of the El Roble vein identified two complementary and possibly crosscutting veins south of the historical drilling. The El Roble vein was drilled in 2003 by Meridian Gold* where historical drill intercepts included 15 metres of 6.9 grams per tonne gold and 33 grams per tonne silver (DDH001) as well as 1.5 metres of 5.33 grams per tonne gold and 26 grams per tonne silver (DDH003). One of the two new target areas, the El Roble 2 vein, strikes north-northeast and appears to intersect the El Roble vein in the areas of the past drilling. The El Roble 2 vein is 0.5metre to four metres wide and was sampled four times over a 500-metre strike length, with one sample returning 1.8 grams per tonne gold. The veining at this location comprises several smaller, 30-centimetre-wide parallel quartz stringer veins showing argillic alteration, silicification and green quartz with orange-brown carbonate. A second target area was found near the geological boundary between andesites and overlying dacites. This area is noted to be on strike with the east-west-striking veins of the adjacent Sinaloa mine property to the immediate east. Riverside's most recent work returned one grab sample of 19.9 grams per tonne gold and 200 grams per tonne silver in addition to anomalous copper, lead and zinc. The sample is believed to show that the veins from the Sinaloa mine extend onto the property, providing a new exploration opportunity for the El Roble area.
* Disclosure note: The exploration work programs described herein and the analytical results that were reported by Meridian Gold on the La Silla project are considered to be historical. The reliability of the historical data is uncertain, but the data are considered to be relevant by company management. It is the company's intention to verify, wherever reasonably possible, the most significant historical data; however, there is a risk that the company's confirmation work or future drill testing may produce results that substantially differ from the historical results.
HIGHLIGHTED ROCK-CHIP AND CHANNEL SAMPLES Sample ID Gold SilverInterval width (g/t)(g/t) (m)RRI50312 2.1 27.0 1.5 RRI50315 9.4196.0 1.0 RRI-2351 2.4113.0 1.5 RRI-2366 1.0 14.0 2.0 RRI-2369 1.6 40.1 2.0 RRI-2389 1.82.7 1.0 RRI-2399 19.9 200.0 1.0** Disclosure: Samples RRI50312 and 50315 are from sampling conducted in late 2017 and not previously reported. All samples are chip or channel samples,except for RRI2399, which was a grab sample.
Qualified person and quality assurance/quality control
The scientific and technical data contained in this news release pertaining to the La Silla project was reviewed and/or prepared under the supervision of Freeman Smith, PGeo, an independent 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.
Rock samples collected were taken to the Bureau Veritas Laboratories in Hermosillo, Mexico, for fire assaying for gold. The rejects remained with Bureau Veritas in Mexico while the pulps were transported to Bureau Veritas's laboratory in Vancouver, B.C., Canada, for 45-element ICP/ES-MS analysis. A quality assurance/quality controlprogram was implemented as part of the sampling procedures for the exploration program. Standard samples were randomly inserted into the sample stream prior to being sent to the laboratory.
About Riverside Resources Inc.
Riverside is a well-financed exploration company that is driven by value generation and discovery. The company has more than $2.5-million in cash, less than 45 millionshares issued, and a strong portfolio of gold-silver and copper assets in North America. Riverside has extensive experience and knowledge operating in Mexico and leverages its large database to generate a portfolio of prospective mineral properties.
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