Riverstone Announces Drilling Plans on Karma Gold Project
* Press Release
* Source: Riverstone Resources Inc.
* On Tuesday August 25, 2009, 3:40 pm EDT
finance.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 25, 2009) - Riverstone Resources Inc. (TSX VENTURE:RVS - News; FRANKFURT:3RV - News) is pleased to announce that it will commence a drill program shortly on its Karma project in Burkina Faso, West Africa. The program will comprise approximately 6,000 metres of drilling, divided roughly equally between reverse circulation ("RC") and rotary air blast ("RAB") drilling. The Karma project has four separate gold deposits supporting a NI 43-101 resource estimate of 820,500 ounces of gold in the indicated category and 320,300 ounces in the inferred category (see news releases dated May 11, 2009 and July 6, 2009). The objectives of the up-coming program are to test for extensions beyond the known mineralized zones and to collect samples for metallurgical testwork purposes. The seasonal rain in Burkina is diminishing and the drilling is expected to begin by mid-September.
The Karma project consists of the Kao Main, Rambo, GG1 and GG2 deposits. The deposits are all within 8 kilometres of each other, allowing the company to envision the establishment of a central processing facility (see accompanying Map 1). In addition, there are numerous other gold occurrences and artisanal workings in the immediate vicinity of each of the deposits which require evaluation. The Kao Main deposit, in particular, has demonstrable potential to significantly increase in size based on RAB drilling results and extensive gold-in-soil geochemical anomalies (see accompanying Map 2).
To view the maps accompanying this press release please click on the following link: media3.marketwire.com
On the Rambo property, a limited RAB program last year returned high grade intervals in two holes. These holes appear to be on the Rambo structural trend and warrant follow-up RC drilling. A number of gold geochemical targets have also been delineated adjacent to the known GG1 and GG2 deposits that also warrant drill testing.
Riverstone Resources Inc. is active in gold exploration in Burkina Faso, West Africa, where the company holds an extensive portfolio of high quality exploration permits covering 2,300 square kilometres. For further information about the company and its activities, please refer to the company's website at www.riverstoneresources.com and under the Company's profile at www.sedar.com.
ON BEHALF OF THE BOARD
Michael D. McInnis, P. Eng., President & CEO
Certain statements made and information contained in this news release and elsewhere constitutes "forward-looking information" within the meaning of the Ontario Securities Act. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters and surface access, labour disputes, the potential for delays in exploration activities, the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, failure to obtain adequate financing on a timely basis and other risks and uncertainties, including those described under Risk Factors in each management discussion and analysis. In addition, forward-looking information is based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long term price of gold, that the Company will receive required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour and that the political environment within Burkina Faso will continue to support the development of environmentally safe mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements.
Neither 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.
Contact:
Michael D. McInnis
Riverstone Resources Inc. - Vancouver Office
President
604-801-5020
604-801-6075 (FAX)
info@riverstoneresources.com
Raju Wani
Riverstone Resources Inc.
Investor Relations
403-240-0555
Ron Cooper
Riverstone Resources Inc.
Investor Relations
604-986-0112
www.riverstoneresources.com |
