Welcome!

News Feed Item

Riverside Resources and Partner Morro Bay Resources Drill 388.4 g/t Silver Over 22.7 Metres at the Penoles Gold-Silver Project in Durango, Mexico

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/09/14 -- Riverside Resources Inc. ("Riverside" or the "Company") (TSX VENTURE: RRI)(PINKSHEETS: RVSDF)(FRANKFURT: R99), is pleased to announce new drill results from the Jesus Maria Silver Mine area at the Penoles Project (the "Project") in Durango, Mexico, which is being funded by Morro Bay Resources. Twenty three (23) HQ sized core holes were drilled on the property, for a total of 2,143 metres during the most recent drill program with results still pending for 6 holes. The recent program discovered a new zone of mineralization and structural preparation (referred to as the "Jesus Maria South Zone") intersecting and trending southwest from the Jesus Maria Vein. The Jesus Maria South Zone had not been systematically tested and apparently never worked by previous mining. The first two drill holes that intersected the new zone, (JM DDH 14-10 and JM DDH 14-24) returned the best near surface intervals of silver mineralization intersected at the Penoles Property since Riverside acquired the property in 2007.

The first hole drilled (JM DDH 14-10) was a 30 metre step out, south from the final hole (JM DDH 13-9 "Hole 9") of the 2013 program (view www.rivres.com for maps and images). This drill hole, (JM DDH 14-10) intersected an approximately 41 metre wide near-surface mineralized interval averaging 123.9 g/t silver and more than 0.5 g/t gold, including a 4.25 metre interval that assayed 732.2 g/t silver and 1.20 g/t gold. The second hole, JM DDH 14-24, confirmed significant widths of mineralization, with 70.8 m interval averaging 147.8 g/t silver including a 22.7 m interval that returned 388.4 g/t silver.

Assay results for the drill holes received to date from the Jesus Maria South Zone, JM DDH 14-10 and JM DDH 14-24, are summarized below:

----------------------------------------------------------------------------
                                Interval
Hole ID      From (m)   To (m)       (m) Au (ppm) Ag (ppm)   Pb (%)   Zn (%)
----------------------------------------------------------------------------
JM DDH 14-10     18.9     59.5     40.60    0.540    123.9     0.07     0.14
----------------------------------------------------------------------------
                 Including          4.25    1.201    732.2     0.13     0.35
----------------------------------------------------------------------------
                 Including          2.30    1.291    194.8     0.42     0.31
----------------------------------------------------------------------------
                 Including          6.70    1.082    122.9     0.05     0.12
----------------------------------------------------------------------------
JM DDH 14-24    52.65   123.45     70.80     0.37    147.8     0.03     0.08
----------------------------------------------------------------------------
                 Including         22.70    0.629    388.4     0.07     0.12
----------------------------------------------------------------------------
                 Including          5.45    1.474    144.2     0.11     0.06
----------------------------------------------------------------------------

(All reported intervals are core lengths, true widths have not yet been determined)

Six additional holes (JM DDH 14-25 through JM DDH 14-30) have been drilled to investigate the potential continuity of mineralization at Jesus Maria South Zone to the east of the JM DDH 14-24 location. Assay results for these six holes will be released as soon as they become available and have been interpreted.

Riverside's President and CEO, John-Mark Staude stated, "Riverside is pleased with the drilling and discovery of the Jesus Maria South Zone and looks forward to receiving further assays from the remaining six holes. Collectively this zone so far has a strike extent of drilling of over 250 meters. The expanded mineralization found at Jesus Maria combined with the Capitan Gold Zone, untested San Rafael Mine area and numerous other prospective targets provide plenty of upside as the Penoles Project continues to move forward."

Other assayed holes from the current campaign include drill holes JM DDH 14-11 through JM DDH 14-23, a series of vertical and inclined holes spaced at approximately 50 to 100 metre intervals along the Jesus Maria Vein which provide near surface extension to the shallow mined area. The Jesus Maria Vein holes (view www.rivres.com for maps) were designed to test for potential lateral extensions of the mineralized zone developed in the historical Jesus Maria mine region and to some extent began to extend the depth which remains wide open. The drilling successfully extended the confirmed strike length of the Jesus Maria Vein approximately 500 meters westwards, and intersected the vein at the expected depths, showing good continuity. The vein remains open at depth and along strike. The drill holes encountered encouraging mineralization zones as tabulated below. These results are currently being integrated into the Jesus Maria geological model, and will be commented on in more detail as the analysis is completed.

----------------------------------------------------------------------------
                                Interval
Hole ID      From (m)   To (m)       (m) Au (ppm) Ag (ppm)   Pb (%)   Zn (%)
----------------------------------------------------------------------------
JM DDH 14-11    81.30    93.30     12.00    0.284     42.6     0.61     1.13
----------------------------------------------------------------------------
JM DDH 14-12         Hole was abandoned before reaching target depth
----------------------------------------------------------------------------
JM DDH 14-13   100.90   113.30     12.40    0.226     55.9     0.04     0.11
----------------------------------------------------------------------------
and            146.30   157.80     11.50    0.280     36.7     0.16     0.34
----------------------------------------------------------------------------
JM DDH 14-14    41.00    58.65     17.65    0.122    123.3     0.94     0.78
----------------------------------------------------------------------------
JM DDH 14-15    29.00    36.05      7.05    0.233     34.7     0.53     0.57
----------------------------------------------------------------------------
JM DDH 14-16    36.05    38.40      2.35    0.187     53.9     1.16     1.02
----------------------------------------------------------------------------
JM DDH 14-17    74.50    76.80      2.30    0.149     56.6     2.22     1.76
----------------------------------------------------------------------------
JM DDH 14-18     56.3     60.8      4.50    0.064     50.9     0.78     0.72
----------------------------------------------------------------------------
JM DDH 14-19        Did not encounter any significant mineralization
----------------------------------------------------------------------------
JM DDH 14-20        Did not encounter any significant mineralization
----------------------------------------------------------------------------
JM DDH 14-21    37.95    39.85      1.90    0.254    251.4     0.01     0.02
----------------------------------------------------------------------------
and            113.20   129.35     16.15    0.100     39.4     0.25     0.38
----------------------------------------------------------------------------
JM DDH 14-22     28.9    59.55     30.65    0.178     41.4     0.03     0.11
----------------------------------------------------------------------------
                 Including          2.25    0.128    179.2     0.09     0.16
----------------------------------------------------------------------------
                 Including          2.95    0.938    138.4     0.14     0.29
----------------------------------------------------------------------------
And             70.45    93.05     22.60    0.346     26.4     0.40     0.61
----------------------------------------------------------------------------
JM DDH 14-23     25.3     56.5     31.20    0.112     55.7     0.17     0.33
----------------------------------------------------------------------------

(All reported intervals are core lengths, true widths have not yet been determined)

Two drill holes (CDDH-14-49 and CDDH-14-50) were designed to test the Capitan Hill Zone target but were terminated early without reaching target depth due to local ground conditions and were not submitted for assay.

Results of previous drill programs completed at the Penoles Project are summarized in a recent N.I. 43-101 completed by Morro Bay Resources filed on SEDAR (www.sedar.com).

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 by June 30, 2014. For more information see Riverside press release dated January 23, 2014.

There are approximately eleven targets on the Penoles Project, including the Capitan Gold Zone, the Pinchanzo Zone (see Riverside press release dated May 23, 2012), potential west extensions of El Capitan (referred to as the West Extension), a new target area located to the northwest of El Capitan (referred to as Santa Theresa) and the previously mined Jesus Maria and San Rafael Ag- Au-Pb-Zn mines. The district is highly prospective with active mining operations nearby and has proven to be a cost effective region where projects can be efficiently developed towards production.

The Capitan Gold Zone is an advanced epithermal prospect with 45 drill holes and 6,945 metres of total drilling so far, with geological work to-date indicating potential for a bulk tonnage gold style system at El Capitan, with the geologic interpretation indicating vectors for expansion with further drilling.

The 23 drill holes and 2,143 metres of recently completed drilling bring the aggregate drill figures to 31 drill holes over 3,000 metres at Jesus Maria. The 2013 drilling intercepted a semi-parallel sequence of upper silver-carbonate veining as well as the main quartz-rich Ag-Au-Pb-Zn Jesus Maria vein zone. Underground exploration and sampling of the old workings also found silver bearing carbonate veins, which prior to this recent work was not known and demonstrates larger potential for the Jesus Maria vein system than previously recognized. The 2014 drilling has encountered some of the widest and strongest silver mineralization to-date and builds on previous work with significant exploration upside still remaining at Jesus Maria and surrounding targets.

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 cut 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, NV, USA. Inspectorate America is certified for the provision of assays and geochemical analysis (ISO: 9001-2008). All samples were prepared using standard industry preparation 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.

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:
John-Mark Staude
President & CEO
Riverside Resources Inc.
(778) 327-6671
(778) 327-6675 (FAX)
[email protected]
www.rivres.com

Joness Lang
Manager, Corporate Development
Riverside Resources Inc.
(877) RIV-RES1
(778) 327-6675 (FAX)
[email protected]
www.rivres.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Blockchain. A day doesn’t seem to go by without seeing articles and discussions about the technology. According to PwC executive Seamus Cushley, approximately $1.4B has been invested in blockchain just last year. In Gartner’s recent hype cycle for emerging technologies, blockchain is approaching the peak. It is considered by Gartner as one of the ‘Key platform-enabling technologies to track.’ While there is a lot of ‘hype vs reality’ discussions going on, there is no arguing that blockchain is b...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, discussed the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, application p...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
Is advanced scheduling in Kubernetes achievable?Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, answered these questions and demonstrated techniques for implementing advanced scheduling. For example, using spot instances and co...
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
The need for greater agility and scalability necessitated the digital transformation in the form of following equation: monolithic to microservices to serverless architecture (FaaS). To keep up with the cut-throat competition, the organisations need to update their technology stack to make software development their differentiating factor. Thus microservices architecture emerged as a potential method to provide development teams with greater flexibility and other advantages, such as the abili...
Product connectivity goes hand and hand these days with increased use of personal data. New IoT devices are becoming more personalized than ever before. In his session at 22nd Cloud Expo | DXWorld Expo, Nicolas Fierro, CEO of MIMIR Blockchain Solutions, will discuss how in order to protect your data and privacy, IoT applications need to embrace Blockchain technology for a new level of product security never before seen - or needed.
Leading companies, from the Global Fortune 500 to the smallest companies, are adopting hybrid cloud as the path to business advantage. Hybrid cloud depends on cloud services and on-premises infrastructure working in unison. Successful implementations require new levels of data mobility, enabled by an automated and seamless flow across on-premises and cloud resources. In his general session at 21st Cloud Expo, Greg Tevis, an IBM Storage Software Technical Strategist and Customer Solution Architec...
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
"As we've gone out into the public cloud we've seen that over time we may have lost a few things - we've lost control, we've given up cost to a certain extent, and then security, flexibility," explained Steve Conner, VP of Sales at Cloudistics,in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across business networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost as well as advance trade. Are you curious about how Blockchain is built for business? In her session at 21st Cloud Expo, René Bostic, Technical VP of the IBM Cloud Unit in North America, discussed the b...