Riverstone (RVS.V) discovers 1.8 g/t gold at Ligidi project
[ Burkina Faso ]
2005-10-11 10:04 ET - News Release
Mr. Michael McInnis reports
RIVERSTONE RESOURCES INC.: DISCOVERY ON LIGIDI GOLD PROPERTY; RAMBO MINERALIZATION EXTENDED
Riverstone Resources Inc. has released the drilling results from the recently completed exploration program on its mineral permits in Burkina Faso, West Africa. Highlights include the discovery of significant gold mineralization in several holes at the Ligidi project and the extension of the known gold zone at the Rambo project. "We are particularly excited about the gold intersections and the potential size of the targets on the Ligidi project," commented Michael McInnis, president of Riverstone. "The modest drill program tested only a small number of targets within a 13-kilometre-long gold geochemical anomaly. Clearly, all targets within this 13-kilometre trend now require further investigation for additional discoveries."
On the Rambo property, two holes tested the concept that a 1.5-kilometre-long EM geophysical conductor reflects the structural control of the known gold zone. "The success of these two holes indicates that the full length of this conductor is prospective for further gold discoveries," said Mr. McInnis.
On the Ligidi property, geochemical soil sampling in 2004 established an extensive area anomalous in gold approximately 13 kilometres long and three kilometres wide. Within this broad area, numerous linear anomalous zones, each between one and two kilometres in length, were subsequently delineated. Three broad areas of interest have been designated -- the Three Hills area, the Wayalguin area and the Dassoui area. Eight holes were drilled to test widespread anomalies within the Three Hills and Wayalguin areas only. The Dassoui area has not yet been tested by drilling.
The Three Hills area contains a series of four linear, west-northwest-trending gold-in-soil anomalies, each between one and two kilometres in length. Two of the four anomalies were tested with five RC holes with significant results as follows:
Hole From To Interval Gold
(m) (m) (m) (g/t)
LM-05-01 6.00 12.00 6.00 0.68
including 9.00 12.00 3.00 1.04
LM-05-02 51.00 63.00 12.00 0.46
LM-05-05 1.50 18.00 16.50 1.25
including 4.50 13.50 9.00 1.88
and 36.00 42.00 6.00 0.80
including 39.00 40.50 1.50 1.46
Note: The intervals are drill intercepts and may not reflect true widths.
Holes LM-05-01 and 02 were drilled to test a 2.25-kilometre-long gold-in-soil anomaly. The holes are 300 metres apart. The discovery of significant gold below this anomaly necessitates the thorough evaluation of the entire anomaly.
Holes LM-03 to 05 were drilled in a fence across the eastern end of a 1.25-kilometre-long gold geochemical anomaly. Again, the intersection of significant gold mineralization in LM-05-05 validates the geochemical anomaly and warrants further exploration.
The Wayalguin prospect, located approximately two kilometres east of the Three Hills prospect, was tested with three drill holes. The three holes, LM-06 to 08, were drilled as a fence to cross the eastern portion of an 800-metre-long geochemical anomaly. The holes were drilled to undercut a trench that had encountered 2.22 grams per tonne gold over 6.0 metres. Hole LM-05-07 encountered 1.86 g/t gold over 4.5 metres; holes LM-05-06 and 08 intersected several narrow intervals (1.5 metres) grading about 1.0 g/t gold.
On the Rambo permit, two diamond drill holes were drilled in an effort to extend the gold zone encountered in previous drilling.
Hole From To Interval Gold
(m) (m) (m) (g/t)
RADD-05-10 152.55 157.60 5.05 2.16
including 152.55 157.20 4.65 2.30
RADD-05-11 158.70 167.47 8.77 1.26
including 161.20 164.20 3.00 2.84
Hole RADD-05-10 was drilled to test the vertical continuity of the known mineralized zone. The zone now has been traced for 170 metres down dip and is still open. Hole RADD-05-11 was drilled 150 metres WNW of RADD-05-10 in an effort to extend the gold zone in that direction. The gold intersection in RADD-05-10 has now extended the Rambo mineralized zone for 350 metres along strike and still open. The gold mineralization appears to be following an EM geophysical conductor which extends for a minimum of 1.0 kilometre beyond the known extent of the mineralization zone.
All samples for the above-listed intercepts were prepared at the Abilab laboratory in Mali and then sent to the ALS Chemex in North Vancouver for assay by the fire assay and atomic absorption process. Exploration work during the recently completed program was also carried out on the company's Kao and Yaramoko permits.
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See News Release dated August 2, 2005, for the results of that work.
For further information about Riverstone Resources, including previous news releases detailing earlier
results, 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”
_________________________
Michael D. McInnis, President
For further information, contact Michael D. McInnis at (604) 801-5020 or at mikem@riverstoneresources.com
The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.
Michael D. McInnis, P. Eng. is a Qualified Person for RVS and has reviewed and approved the contents of this news release.
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