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Riva Resources updates on drilling, maintains healthy cash balance

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hitpaydirt   Friday, 06/02/17 12:26:05 AM
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Riva Resources updates on drilling, maintains healthy cash balance

Riva Resources (ASX:RIR) has today said that it is disappointed to report that the recently completed drill holes TDD001 and 002 at the Tabac Cobalt–Gold Project failed to return any significant assay results for the range of elements tested.

Jonathan King, managing director, commented: "Riva shares in this disappointment with all shareholders.


"The company perceives laboratory error as the likely source of the elevated results reported from the original ACM drilling.

"However the company has achieved the task it set out to do by definitively answering the validity of the preceding analytical work as best and cost effectively as possible.

"The company retains $2.48 million cash with a portfolio of assets which will continue to be assessed in addition to other investment opportunities as they come to hand.

"We look forward to updating the market of further developments in this regard.

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