Riverside Samples High Grade Gold at the La Silla Project, Sinaloa, Mexico
Vancouver, British Columbia--(Newsfile Corp. - May 25, 2021) - Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) ("Riverside" or the "Company") is pleased to report the latest field results from Riverside funded generative exploration work at La Silla Project (the "Project"), Sinaloa, Mexico. Riverside received rock chip sample results with values up to 6.1 g/t Au and identified over 2km of total vein extensions from three vein systems on the property during this spring field program. Riverside's mineral exploration work has highlighted two main concession block areas of interest with two shallow historical mine areas (El Roble and Ciruelos) that have little drilling near the old workings and good discovery potential. Both of these targets show outcropping mineralized structures of veins and stockwork with new high-grade gold samples (see Table 1). Previous sampling programs by Riverside also returned high-grade with up to 19.9 g/t Au and 200 g/t Ag (see press release of June, 2018).
Table 1: Gold and silver highlighted sampling results from April 2021
|Sample ID||Au (g/t)||Ag (g/t)||Type||Description|
|RRI-7872||6.1||80||Select sample, rock chip||Chalcedony quartz vein|
|RRI-7873||5.6||81.5||rock chip||Milky white quartz vein|
|RRI-7862||4.4||35.3||Select sample, rock chip||Gaussen breccia|
|RRI-7866||3.5||25.9||rock chip||Strongly oxidized andesite|
|RRI-7865||3.3||19.7||rock chip||Strongly oxidized andesite|
|RRI-7868||2.6||41.2||rock chip||Brecciated andesite and quartz vein|
A total of 16 samples were taken with samples ranging from <0.01 to 6.1 g/t Au.
In April of this year, Riverside's team focused on mapping and sampling to better define the target extension along strike as limits remain wide open. This recent work improves understanding and provides evidence to develop a fundamentally new targeting model with structural feeder and shear dynamic interpretation for a district scale mineralized system, showing similarities with nearby Tayoltita - San Dimas District of First Majestic with historic gold production of >10M Oz Au and >500 M Oz Ag in lifetime of the district1 located 40 kms to the east in the similar geologic environment, host units and structure and alteration styles.
Figure 1: Map of Riverside's La Silla Gold and Silver Project, highlighting recent select samples at the El Roble target and the Ciruelos target.
To view an enhanced version of Figure 1, please visit:
Riverside's President and CEO, John-Mark Staude: "This recent work at the Roble and Ciruelos targets has found extensions, high-grade gold, and strong epithermal gold signatures similar to those found to the east in Tayoltita - San Dimas mining district which is one of Mexico's top 5 gold producing mining camps. We look to progress the drill targets at La Silla where we are only 2 hours from the port city of Mazatlan. The right location, great geology, and strong technical team makes this Project exciting for Riverside and we look to have further news flow progressing from here. The new genesis - targeting model that is coming out of synthesis of our field work is exciting for further developments. To the north with Prime Mining and south with GR and Viszla we are in an active discovery gold belt and have 100% ownership in these priority targets."
Location is key and being close to Mazatlán with easy access by paved and dirt road, La Silla Gold and Silver Project can be progressed cost effectively and quickly. The Project shows two primary targets, for which one has seen drilling (El Roble), and the other, which has not yet been drill tested (Ciruelos).
This target extends for at least 1 km and is visible at surface. It is described as a 1-5-m wide vein zone, with a complex sub-vertical to sub-horizontal intercalated vein systems. Many old workings extend along the vein zone, some of which are extensive, with 3-meter-wide adits and 28 meters deep (see Figure 3). All samples taken from these areas show chalcedonic texture, which is typical of low temperature and shallow hydrothermal system preserving the entire system at depth.
El Roble Target:
The El Roble was also explored historically for its high-grade stacked gold and silver veins that can reach up to 2 m wide at surface. Mineralization occurs in the host rock and in oxidized and silicified breccia (see Figure 3).This type of breccia shows a typical boiling texture, which is ideal for gold deposition. The vein system extends for at least 300 m along strike and appears covered to the north, leaving potential for additional drilling to define greater vein extent.
Figure 2: Cross section merging both El roble and Ciruelos Targets located over Riverside's concession.
To view an enhanced version of Figure 2, please visit:
Note: * historical drill holes drilled by Meridian Gold Company (April, 2004).
Figure 3: Picture of the Ciruelos old working on the left, and sampling of the El Roble oxidized breccia on the right.
To view an enhanced version of Figure 3, please visit:
Field observations suggest that gold and silver are part of a low-sulfidation epithermal system, possibly linked to the change in magmatic phases between the mafic to felsic magma. The structural setting of the area created a favorable tectonic environment that allowed deposition with continual overlapping of fault vein fillings. Riverside is now moving forward with additional exploration field work at the La Silla Project as the latest results have shown significant upside and mapping identifying longer veins to be tested.
Qualified Person & QA/QC:
The scientific and technical data contained in this news release pertaining to the La Silla Project was reviewed and approved by Freeman Smith, P.Geo, 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.
Rock samples from the previous exploration programs discussed above at La Silla were taken to the Bureau Veritas Laboratories in Hermosillo, Mexico for fire assaying for gold. The rejects remained with Bureau Veritas in Mexico while the pulps were transported to Bureau Veritas laboratory in Vancouver, BC, Canada for 45 element ICP/ES-MS analysis. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Standard samples were randomly inserted into the sample stream prior to being sent to the laboratory.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has no debt and less than 71M shares outstanding with a strong portfolio of gold-silver and copper assets in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside's own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for 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
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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.
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