Jun 23 2015
Riverside Resources Inc. ("Riverside" or the "Company") is pleased to provide an update from the Company's 100% owned Tajitos Gold Project (the "Project") in Sonora, Mexico. Riverside announced assay results from an underground sampling program focused on the gold bearing vein system and confirmed gold values ranging from <0.05 g/t up to 17 g/t Au (Riverside press release dated January 16, 2015).
The underground sampling agrees well with past surface sampling and the Company has now initiated the next stage of the program, which is further refinement of the bulk mineable targets on the Project.
To date, Riverside has identified three target types at Tajitos; well-developed alteration zones related to low angle shear faults, intrusive hosted alteration zones with gold bearing sheeted and stockwork quartz veins, and high-grade quartz veins,. The low angle fault target, with mineralization hosted in the hanging wall rhyolite and diorite and andesite units below in the footwall, appears similar to the geologic and structural setting seen at Fresnillo's multi-million ounce open-pit Noche Buena Mine. Noche Buena contains reported reserves and resources of more than 2.4 million ounces of gold and is located 26 km to the northwest along a regional structural corridor.(1)
Historic mining at Tajitos occurred in the high-grade veins and the low angle faults. The high-grade veins are steeply dipping and trend northwest, cross-cutting the approximately east-west shear and thrust fault trends which dip shallowly to the south. The thrust faults contain strong alteration up to 30 metres thick, best developed in the hanging wall rhyolite with gold values from <0.05 g/t up to 38.7 g/t Au. Channel sampling across several of the fault zone targets is set to commence to refine priority drill targets.
Riverside's President and CEO, John-Mark Staude, commented: "We are pleased to progress this high quality gold project and seek a partnership with a strong metal producer capable of funding the potential development needed to take this project forward toward resource delineation and ultimately production."
Intrusive related alteration and mineralization occurs in at least three areas that are currently identified and these zones may connect under gravel cover. Several areas with strong alteration and sheeted quartz veins occur along a zone that is approximately 250 metres wide and 1.5 km long providing a similar scale to the Chanate, Noche Buena, and San Francisco gold mines. Continuous chip sampling of outcrops is underway to further define gold grades and continuity of mineralization. The mineralization styles often occur together and genetic relations may exist, further enhancing the target potential.
About Riverside Resources Inc.:
Riverside is a well-funded prospect generation team of focused, proactive gold discoverers. The Company currently has approximately $3,000,000 in the treasury and 37,000,000 shares outstanding. The Company's model of growth through partnerships and exploration uses the prospect generation business approach to own resources, while partners share in de-risking projects on route to discovery. Riverside has additional properties available for option with more information available on the Company's website at www.rivres.com.
Qualified Person & QA/QC:
The scientific and technical data contained in this news release pertaining to the Tajitos Gold Project was reviewed and approved by Greg Myers, PhD, P.Geo, - VP, Exploration, a non-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.
Samples were taken to Hermosillo, Mexico where ALS Laboratory Group's mineral division ALS Chemex crushed and pulverized each sample. The rejects remained with ALS Chemex while the pulps were transported to ALS Chemex's ISO 9001-2008 certified laboratory in North Vancouver, BC, Canada for analysis. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Standard and blank samples were randomly inserted into the sample stream prior to being sent to the laboratory.
ON BEHALF OF RIVERSIDE RESOURCES INC.
Dr. John-Mark Staude, President & CEO
(1) (Fresnillo PLC, 2015)