Welcome!

News Feed Item

Riverside Resources and Alliance Partner Hochschild Mining Discover High Grade Gold Zone and Continue Advancing Exploration at the Cajon Gold Project in Sonora, Mexico

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/21/14 -- Riverside Resources Inc. ("Riverside" or the "Company") (TSX VENTURE:RRI)(PINKSHEETS:RVSDF)(FRANKFURT:R99), is pleased to announce results from the recent exploration program and upcoming plans at the Cajon Project (the "Project") in Sonora, Mexico. Riverside conducted an exploration program consisting of detailed rock sampling and structural, geologic, and short-wave infrared (SWIR) alteration mapping. This work has led to the discovery and initial delineation of gold-bearing vein zones similar to those found at the Herradura Mine (operated by Newmont-Fresnillo) located 147 km to the northwest and the San Francisco Mine (operated by Timmins Gold) located 60 km to the east. At Cajon, the initial target area of San Blas has been the primary focus so far with very promising results from rock samples taken to date. A total of 294 rock samples were collected, averaging 0.51 g/t gold (Au), including 20 samples with grades above 1 g/t Au and two samples of 37.9 and 19.11 g/t Au.

In addition to the rock samples highlighted above, sampling by previous owners included 362 rock samples with average grades of 1.39 g/t Au, including 42 samples in the range of 1 - 10 g/t and 7 samples greater than 10 Au g/t, including two of 117 and 86.0 g/t Au. Riverside geologists have now clearly defined a main target zone, which has a central core measuring 450 x 250 metres in extent showing a high density of quartz-hematite after pyrite veins. The veins are surrounded by pervasive quartz-sericite-hematite alteration and disseminated mineralization, which indicates excellent potential for a bulk tonnage gold deposit.

The Cajon Project is being advanced as part of the Riverside-Hochschild Strategic Alliance (see press release dated April 15, 2013), with Hochschild having the opportunity to earn a 65% interest in the Project by incurring $5,000,000 in exploration expenditures over four years and making a onetime $3,000,000 cash payment to Riverside. Next exploration steps at the Cajon Project will include further mapping and sampling at four other target areas on the greater than 60 km2 property and detailed work to expand the San Blas target in all directions; trenching and then drill testing are expected to follow for San Blas as well as further work on additional target areas on the Project.

Riverside's President and CEO, John-Mark Staude, commented, "We are pleased with our Alliance team's progress in the Sonora Megashear Gold Belt, as the Cajon Project moves along with trenching and expanded sampling towards drill testing while additional high-quality targets are being generated. The features we see so far are similar to many found in the known nearby gold operations of AuRico, Newmont-Fresnillo, Timmins Gold as well as past producers like those of Hecla all located within 150 km of this project. We look forward to further partner-funded results and drilling in the Sonora Megashear in the months ahead."

Further Project Details:

The Project is located within the Megashear Gold Belt of northwest Sonora, Mexico. It is 9 km east of the Cerro Colorado Mine, in Trincheras Municipality, Sonora Mexico. The San Blas target comprises a N-S trend of veins, disseminated mineralization, and mineral showings over an area of approx. 4.5 x 0.8 kilometres. Mineralization at Cajon is controlled by NNW-striking quartz-oxidized pyrite veins with quartz-sericite-oxidized pyrite alteration halos; quartz-base metal (Ag-Pb) veins; and hematite-cemented breccias. Mineralization is hosted in Precambrian megaporphyritic granite which forms a brittle, preferentially fractured host amenable to forming pathways for mineralizing gold fluids.

The mineralization at the San Blas target extends to the north and south of the main target area for up to 4.5 km, reaching historic high-grade mines at El Tiro and La Yaqui, and the currently operating Boludo Gold Placer operation to the north, and a number of historic gold operations at Las Amarillas, El Cajon, and Tierra Blanca, to the south. The mineralized trend parallels other high-grade veins in the area such as Bufalo, La Nina, Jabali and Oreros veins. The San Blas target shares several geological characteristics with the nearby Cerro Colorado, San Francisco and El Chanate gold mines in the Mohave Sonora Megashear Gold Belt.

Corporate Updates:

The Company would like to announce that Joness Lang has been appointed Vice President, Corporate Development. Mr. Lang has been with the Company for four years and has played a major role in managing and growing the business (click link to view full bio: http://bit.ly/1kA9YQA). The Company would also like to welcome Fred Daley to the Company's Advisory Board. Mr. Daley recently retired after serving 15 years as VP, Exploration for Teck Resources and brings a wealth of knowledge and experience to the Company's advisory group (click link to view full bio: http://bit.ly/1tWOlmU)

Qualified Person and QA/QC:

The scientific and technical data contained in this news release pertaining to the newly acquired Cajon Project was reviewed and prepared under the supervision of Riverside's Chief Geologist, David S. Smith, MS, MBA, CPG, 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 acts as a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Samples were taken to Hermosillo, Mexico where ALS Laboratory Group's mineral division ALS Chemex crushed and pulverized each sample. The rejects remained with ALS Chemex while the pulps were transported to ALS Chemex's ISO 9001-2008 certified laboratory in North Vancouver, BC, Canada for analysis. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Standard and blank samples were randomly inserted into the sample stream prior to being sent to the laboratory.

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.

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
SYS-CON Events announced today TechTarget has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. TechTarget is the Web’s leading destination for serious technology buyers researching and making enterprise technology decisions. Its extensive global networ...
As machines are increasingly connected to the internet, it’s becoming easier to discover the numerous ways Industrial IoT (IIoT) is helping to shape the business world. This is exactly why we have decided to take a closer look at this pervasive movement and to examine the desire to connect more things! Now if you need a refresher on IIoT and how it is changing the world, take a moment and listen to Greg Gorbach with ARC Advisory Group. Gorbach believes, "IIoT will significantly change the worl...
SYS-CON Events announced today the Docker Meets Kubernetes – Intro into the Kubernetes World, being held June 9, 2016, in conjunction with 18th Cloud Expo | @ThingsExpo, at the Javits Center in New York, NY. Register for 'Docker Meets Kubernetes Workshop' Here! This workshop led by Sebastian Scheele, co-founder of Loodse, introduces participants to Kubernetes (container orchestration). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, participants learn ...
The pace of innovation, vendor lock-in, production sustainability, cost-effectiveness, and managing risk… In his session at 18th Cloud Expo, Dan Choquette, Founder of RackN, will discuss how CIOs are challenged finding the balance of finding the right tools, technology and operational model that serves the business the best. He will discuss how clouds, open source software and infrastructure solutions have benefits but also drawbacks and how workload and operational portability between vendors...
What a difference a year makes. Organizations aren’t just talking about IoT possibilities, it is now baked into their core business strategy. With IoT, billions of devices generating data from different companies on different networks around the globe need to interact. From efficiency to better customer insights to completely new business models, IoT will turn traditional business models upside down. In the new customer-centric age, the key to success is delivering critical services and apps wit...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty ...
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit y...
Cloud computing changed data analytics for good. It enabled companies to drastically decrease resources and architecture previously assigned with business intelligence departments. It also enabled laymen to run advanced business analytics. Cloud was also the architecture of choice for storing and processing big data. Data piling is a continuous process, which is going to explode with emerging Internet of Things concept. Answer to this issue developers found in new concept called fog computing. ...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, will provide 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 ...
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will discuss the vast to...
SYS-CON Events announced today that Enzu, a leading provider of cloud hosting solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to foc...