Riverside Resources Inc. and Alliance Partner Antofagasta Plc. Complete Summer Exploration Program in British Columbia
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 25, 2012) - Riverside Resources Inc. ("Riverside" or the "Company") (TSX VENTURE:RRI)(PINKSHEETS:RVSDF)(FRANKFURT:R99) is pleased to announce the successful completion of the 2012 exploration program at the Flute and Lennac Designated Projects located near Smithers in Central British Columbia (BC). The Company is pleased with exploration results to-date and looks forward to upcoming diamond drill results from Lennac, further reverse circulation (RC) drill results from targets on both properties, and generating additional targets and Designated Projects for the Alliance with Antofagasta moving forward.
Over the course of the summer field season, Riverside undertook airborne geophysical surveys (News release August 8, 2012), ground geophysical induced polarization (IP) surveys, reverse circulation (RC) drilling, diamond drilling and geological mapping and prospecting as part of an aggressive exploration program on the Flute and Lennac properties. A total of 1,485 metres have been drilled in 4 diamond drill holes on the Lennac property and a combined total of 1,987 metres has been drilled in 93 top-of-bedrock RC drill holes at Flute and Lennac during the 2012 summer exploration program.
Two of the diamond drill holes, LLDH-12-01 and LLDH-12-02, were designed to test areas of known mineralization to depth at the West Zone on the Lennac property, for a total of 801 metres. Historic drilling at the West Zone was completed mostly by shallow percussion drill holes; historic diamond drilling was limited and several holes terminated in mineralization. Drill holes LLDH-12-03 and LLDH-12-04 were completed on prospective areas at the East Zone, following up on results from airborne geophysics (Magnetics), RC drill results and historic drilling for a total of 678 metres. Results from the diamond drilling at Lennac are pending and will be released as they are received.
Two new copper-porphyry targets with strong potential were identified during the 2012 exploration season, the Cougar Zone on the Lennac property and the Mouse Zone on the Flute property. In addition to the 61 RC drill holes testing the main trend at Lennac, a further 18 RC drill holes were completed at the Cougar Zone (Lennac), and 14 drill holes were completed at the Mouse Zone (Flute).
The Cougar Zone on the Lennac Property encompasses historic, broadly coincident IP and copper-in-soil geochemical anomalies. The Cougar IP and soil anomalies sit peripheral to a large, circular magnetic high seen in 2012 airborne geophysical results. Ground geophysical IP surveys completed at Cougar over the 2012 season confirmed and significantly expanded the historic IP anomaly to the south and to the east. Base-of-Till/Top-of-Bedrock sampling with an RC drill rig was undertaken with 18 RC drill holes over the Cougar Zone, with several of the holes intersecting altered volcanics, porphyry intrusives, and associated sulphide mineralization in bedrock chips. Anomalous copper was returned from the RC top-of-bedrock drilling samples over a 1.2km strike length.
The Mouse Zone on the Flute Property also encompasses historic, broadly coincident IP and soil anomalies; outcrop is sparse but altered volcanics cut by porphyry dykes are seen at one location to the northwest. The Mouse Zone lies due east of the Skinbone fault, a regional structure thought to form the western boundary of the Babine Graben that projects through towards the past producing Bell and Granisle mines. Base-of-Till/Top-of-Bedrock sampling with an RC drill rig was undertaken with 14 RC drill holes over the Mouse Zone, several of which intersected altered volcanics and porphyry intrusives. Trace sulphide mineralization was noted in the most north-westerly of the RC drill holes, in closest proximity to the north-striking structural corridor seen in airborne geophysics. Assay results from RC drilling at the Mouse Zone are pending.
Further RC drilling to better delineate and expand areas of copper-porphyry mineralization at the Mouse and Cougar Zones is planned for follow-up exploration in 2013.
The scientific and technical data contained in this news release pertaining to the Flute and Lennac Projects were prepared under the supervision of Paola Chadwick, P.Geo - BC Exploration Manager, a non-independent qualified person to Riverside, 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 Inc.:
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 more than $7,000,000 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 can be found on the Company's website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
Dr. John-Mark Staude, President & CEO
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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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Riverside Resources Inc.
(778) 327-6675 (FAX)
Riverside Resources Inc.
Manager, Corporate Development
(778) 327-6675 (FAX)