Riverside Resources and Partner Choice Gold Complete Phase 1B Drill Program With Gold Intersections in an Area of 1 km X 300 m at the Sugarloaf Peak Gold Project in Arizona
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/05/12 -- Riverside Resources Inc. ("Riverside" or the "Company") (TSX VENTURE: RRI)(PINKSHEETS: RVSDF)(FRANKFURT: R99) is pleased to announce the completion of the Phase 1B drill program, consisting of 13 reverse-circulation drill holes at the Sugarloaf Peak Gold Project, located in southwest Arizona, with partner Choice Gold Corp ("Choice"). The Phase 1B drill program highlights include gold intervals of up to 93 m @ greater than 0.4 g/t Au (News Release March 14, 2012) and most recently hole SGR-12-13, which intersected a thick sequence of mineralised felsic tuffs returning three mineralised intervals including 10.7 metres at 0.54 g/t Au. This news release highlights the final seven holes of the Phase 1B drill program. Completion of this phase of drilling brings the total number of drill holes completed by Riverside and Choice to 31 holes.
The calculated intervals for drill hole SGR-12-13 are presented in the following table. All intervals were calculated using a 0.15 g/t Au cutoff grade, a minimum thickness of 25 feet or 7.6 metres, and a maximum dilution thickness of 3.0 metres.
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From To Interval(i) Grade
RC Hole No m m m g/t Au
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SGR-12-13 10.7 24.4 13.7 0.25
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SGR-12-13 32.0 91.5 59.5 0.29
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including 51.8 62.5 10.7 0.54
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SGR-12-13 96.0 120.4 24.4 0.31
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(i) Intervals represent drilled length; true thickness is unknown
These results indicate that the central mineralised zone that extends over 1.1 km along a NE-SW strike between SGR-12-09 and SGR-12-11 now has a minimum estimated width of 320 meters and depth up to 120 metres as outlined by core and RC drilling by Riverside and now Choice. RC drill hole SGR-12-13 was collared in strongly argillized tuff units with alteration similar to that observed in hole SGR-12-10, located 325 meters WNW of hole SGR-12-13, which returned 93.0 metres at 0.44 g/t Au, including 21.3 m at 0.53 g/t Au and 33.5 m at 0.51 g/t Au (News Release, March 14, 2012). Other notable drill holes are shown on maps and cross sections for the Sugarloaf Peak Project on the Riverside and Choice Gold websites. These include 114 metres @ 0.41 g/t Au (SGR-12-10), 93 metres @ 0.44 g/t Au (SGR-12-09), 9.9 metres @ 1.76 g/t Au (SLG-11-04), and 11.42 metres @ 0.73 g/t Au (SLP-09-02).
Riverside's President & CEO, John-Mark Staude, stated he was "pleased to see the gold assays from the RC drilling continue to demonstrate continuity of gold mineralization at the Sugarloaf Peak Project." Dr. Staude added, "Riverside looks to progress forward with Choice Gold to drill up a potential greater than 500,000-ounce open-pit gold system."
The other 6 holes SGR-12-14 to SGR-12-19 were not located inside the mineralised area and did not return drill-hole intervals of significant thickness; however, isolated samples returned up to 1.2 g/t gold. The Phase 1B drilling campaign consisted of 13 reverse-circulation holes testing the historically known central mineralised area, as well as new areas to the west, south, and southeast. Results from hole SGR-12-13 show that the mineralised area is still open to the south and east; this area will be the subject of a subsequent drilling campaign.
Assaying and Qualified Person:
According to Choice Gold all of the RC holes were sampled successively from the top to the bottom of each hole following rigorous QAQC procedures. These QAQC procedures include the insertion of blanks, standards, and duplicates. All the samples were shipped to American Assay Lab, Reno, NV, to be pulverised and analyzed for Au by the fire assay method and for a suite of trace elements using the ICP method.
The scientific and technical data contained in this news release relating to the initial drill results at the Sugarloaf Peak Project was prepared by Choice Gold's qualified person Brigitte Dejou, and reviewed by David S. Smith, MS, MBA, CPG, a qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided in this news release is accurate and acts as a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Riverside Resources:
Riverside is a well-funded prospect generation team of focused, proactive gold discoverers with the breadth of knowledge to dig much deeper. The Company currently has approximately $9,500,000 in the treasury and 35,000,000 shares issued. The Company's model of growth through partnerships and exploration looks to use the prospect generation business approach to own resources, while partners share in de-risking projects on route to discovery. Additional property information on the Company's projects can be found on the Riverside Resources Inc. website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
Dr. John-Mark Staude, President & CEO
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward looking terminology (e.g., "expect"," estimates", "intends", "anticipates", "believes", "plans"). Such information involves known and unknown risks - including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
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.
Joness Lang
Manager, Corporate Development
(778) 327-6671
(778) 327-6675 (FAX)
info@rivres.com
www.rivres.com
Riverside Resources Inc.
Kaley Reid
Corporate Communications
(778) 327-6671
(778) 327-6675 (FAX)
info@rivres.com
www.rivres.com