VANCOUVER, BRITISH COLUMBIA, Jun 23, 2014 (Marketwired via COMTEX) — Riverside Resources Inc. (“Riverside” or the “Company”) (tsx venture:RRI)(pinksheets:RVSDF)(frankfurt:R99), is pleased to announce the results from an additional six (6) drill holes that were completed at the recently discovered Jesus Maria South Zone (the “Zone”) at the Penoles Project (the “Project”) in Durango, Mexico. The Company believes that these results confirm the continuity and extent of the near surface Zone away from areas of historic mining.
The assay results included the following highlighted intervals:
-- 9.5 m interval averaging 251.2 g/t silver and 0.79 g/t gold (JM DDH 14-
27)
-- 15.85 m interval averaging 123.7 g/t silver and 0.22 g/t gold (JM DDH
14-25)
-- 6.25 m interval averaging 304.6 g/t silver and 0.17 g/t gold (JM DDH 14-
26)
The final six holes of the program were drilled over a strike length of approximately 200 metres, to the east of JM DDH 14-24 (see Riverside’s press release dated June 9, 2014), and successfully demonstrated good continuity of mineralization at the Jesus Maria South Zone. The area tested by these six holes lies within the area where Jesus Maria and Jesus Maria South start to merge (see Figure 1). All six holes (JM DDH 14-25 through JM DDH 14-30) encountered significant mineralization, as can be seen in the table below:
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Hole ID From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Pb (%) Zn (%)
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JM DDH 14-25 20.10 35.95 15.85 0.222 123.7 0.02 0.05
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and 52.20 72.05 19.85 0.350 70.1 0.90 0.13
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JM DDH 14-26 11.00 17.25 6.25 0.176 304.6 0.04 0.06
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and 33.65 50.20 16.55 0.453 54.5 0.65 0.78
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including 33.65 41.00 7.35 0.817 109.5 1.29 1.32
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JM DDH 14-27 1.95 39.00 37.05 0.395 125.05 0.12 0.13
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including 15.95 25.45 9.50 0.794 251.2 0.20 0.16
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including 29.95 37.10 7.15 0.482 190.1 0.24 0.16
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JM DDH 14-28 14.40 38.70 24.30 0.334 39.65 0.02 0.10
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including 32.10 36.55 4.45 0.297 122.5 0.04 0.27
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JM DDH 14-29 7.35 28.45 21.10 0.129 34.2 0.03 0.08
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and 37.30 43.75 6.45 0.209 77.8 0.05 0.13
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JM DDH 14-30 16.80 56.90 40.10 0.188 55.2 0.05 0.12
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including 25.05 29.75 4.70 0.386 136.7 0.16 0.18
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including 41.50 45.25 3.75 0.259 164.4 0.14 0.14
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All reported intervals are core lengths, true widths have not yet been determined
Riverside’s President and CEO, John-Mark Staude stated, “Riverside is pleased with the final results of this latest round of drilling at the Jesus Maria South Zone, with all holes intersecting a consistent trend, grade and estimated width. We are very pleased with all of the progress and partner funded exploration and drilling that has taken place at the Penoles Project, and believe there is still significant upside and growth potential with a number of compelling targets either untested, or open in multiple directions.”
To view Figure 1: Drill Hole Location Map, please visit the following link:
http://media3.marketwire.com/docs/PenolesProject.pdf
About the Penoles Project:
The Penoles Project is located in the Durango silver-gold belt in north-central Mexico and is currently owned 100% by Riverside. The recently completed drill program was conducted pursuant to a commitment by Morro Bay Resources Ltd. (“Morro Bay”) to perform $750,000 of exploration work on the property during the first part of 2014. Morro Bay can complete its option to earn an initial 51-per-cent interest in the property by paying USD$1.35-million in cash to Riverside and paying USD$1.5-million worth of Morro Bay shares (or cash at Morro Bay’s option, provided that if the market value of the Morro Bay shares is less than five cents based on a 30-day volume-weighted average price, such payment must be made in cash) by June 30, 2014.
Riverside News and Updates:
For those wishing to receive Riverside news directly to their inbox, please click the following link: Riverside Mailing List
Qualified Person and QA/QC:
The scientific and technical data contained in this news release pertaining to the Penoles Project was reviewed by Howard Davies, MAIG – 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.
According to Morro Bay, all drill cores were placed in numbered boxes and transported to Morro Bay’s secure core facilities by the drill contractor. Following detailed core logging all core was split using a diamond bladed core saw under the direct supervision of Morro Bay’s geologic staff with half of the core kept on site in the original core boxes. All drill samples were sealed in numbered plastic bags and transported to Inspectorate America Assay labs facility in Durango City for prep work and analyzed at their facilities in Reno. Inspectorate America is certified for the provision of assays and geochemical analysis (iso:9001-2008). All samples were prepared using standard industry prep methods followed by fire assay analysis and aqua regia digest for trace elements. All samples with greater than 10 g/t Au or 100 g/t silver were additionally tested by fire assay with a gravimetric finish. Morro Bay has included appropriate industry certified standards and blanks within the drill core sample stream in addition to the standards and duplicates included as part of the Inspectorate QA/QC program.
About Riverside Resources Inc.:
Riverside is a well-funded prospect generation team of focused, proactive precious and base metal discoverers with the breadth of knowledge to dig much deeper. The Company currently has more than $4,500,000 in the treasury and approximately 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 en route to discovery. Riverside has additional properties available for option with more information available on the Company’s website at www.rivres.com .
ON BEHALF OF RIVERSIDE RESOURCES INC.
“John-Mark Staude”
Dr. John-Mark Staude, President & CEO
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.
John-Mark Staude
President & CEO
(778) 327-6671
(778) 327-6675 (FAX)
www.rivres.com
Riverside Resources Inc.
Joness Lang
Manager, Corporate Development
[email protected]
(778) 327-6675 (FAX)
(877) RIV-RES1
www.rivres.com
SOURCE: Riverside Resources Inc.
