Riverside Resources & Alliance Partner Antofagasta Commence Exploration in Preparation for Drilling at the Swift Katie Porphy...
2014年5月27日 - 9:30PM
Marketwired
Riverside Resources and Alliance Partner Antofagasta Commence
Exploration in Preparation for Drilling at the Swift Katie Porphyry
Copper Project in British Columbia, Canada
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 27, 2014) -
Riverside Resources Inc. ("Riverside" or the "Company")
(TSX-VENTURE:RRI)(PINKSHEETS:RVSDF)(FRANKFURT:R99), is pleased to
announce that spring exploration work has now begun at the Swift
Katie Project (the "Project") located in south-eastern BC, with
drilling to follow later in the summer. The first phase of the
program has been designed with the goal of identifying new targets,
as well as to advance known targets generated through the 2013
exploration program within the 11km x 3km target corridor of
favourable geology, geochemistry and geophysics. Of particular
focus for the 2014 program is a newly identified, high priority
target located 2km south of the historically defined Katie
copper-gold porphyry deposit. The newly identified "Swift" porphyry
target is characterized by a 2km by 2km multi-element soil anomaly
underlain by a favourable geophysical signature. This area has
limited outcrop but porphyritic intrusive rocks and altered
volcanic rocks were recognized by Riverside geologists within and
adjacent to the target area.
This initial phase of 2014 exploration work will include the
expansion of the soil grid started in October 2013, and will
consist of approximately 300 additional soil samples covering the
remaining 5km of strike length of the prospective corridor. Soil
sampling will be coupled with prospecting and mapping at the Swift
target and at regional targets along the trend. Historic drill core
from the Swift and Katie showings will also be relogged as
Riverside and Antofagasta work together to refine and rank targets
for drill testing.
Riverside's President and CEO, John-Mark Staude, stated: "We
are excited to get going with exploration in British Columbia (BC)
and look forward to expanding on historic and known mineralization
at the Swift Katie Cu-Au-Mo district. We believe there is plenty of
exploration upside in the prospective corridor at Swift Katie.
Progressing with our alliance partner, Antofagasta, funding the
work, provides shareholders with low-cost potential for discovering
and owning a major Cu-Au asset in BC."
Agreement Details:
Riverside Resources (BC) Inc., a wholly owned subsidiary of
Riverside, signed an Earn-in Agreement with Valterra Resource
Corporation ("Valterra"), for the exclusive right and option to
acquire an undivided 80% interest in the Swift Katie Project by
incurring cumulative exploration expenditures of $5 million over
four (4) years. This agreement is undertaken as part of Riverside's
exploration alliance with a wholly-owned subsidiary of Antofagasta
plc ("Antofagasta"). For more information on the agreement or
Riverside's strategic partnerships please visit the Company website
at www.rivres.com.
Swift Katie Property Details:
The Property is located within the well-mineralized Quesnel
Terrane, in a geologically favourable area of south-eastern British
Columbia that historically has hosted several important mining
camps. Three main outcropping mineralized areas have been
delineated on the Property and for many years they were each
explored separately in claims with different ownership. The claims
were amalgamated into a single property for the first time by
Valterra, and Riverside was then able to work with Antofagasta to
complete an option on the consolidated land package. There have
been numerous geological, geochemical and geophysical surveys
completed on the Property with some of the most significant work
funded by subsidiaries of Noranda and Falconbridge in the
1980s-90s. These programs identified several exploration targets,
with the most advanced prospect being the Katie deposit, an alkalic
copper-gold porphyry deposit which has been tested by 71 drillholes
to date and remains open in several directions. Historic drilling
at the Katie occurrence covers an approximately 2.5km x 1.5km area
with several untested soil, IP, magnetic and resistivity anomalies
in close proximity to known mineralization.
At a district-scale, the Property covers an 11km by 3km trend -
as seen in airborne magnetics - that remains virtually unexplored
(outside of the Katie occurrence) for copper-porphyry targets to
date and hosts significant exploration potential for new
discoveries. The Property is located in an infrastructure-rich area
of southern BC (roads, rail, power, and proximity to the Trail
smelter), where a milder climate allows for a long field season,
and extensive road networks allow for low-cost exploration.
Furthermore, the Property is situated in a favourable region of the
Province that has a strong community of experienced people on which
to draw. Soil geochemistry and other prospecting work underway
along this trend should provide additional targets for the summer
drilling program.
Qualified Person and QA/QC:
The scientific and technical data contained in this news release
pertaining to the Swift Katie Project was reviewed by Paola
Chadwick, P.Geo - BC Exploration Manager, 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.
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.
Riverside Resources Inc.John-Mark StaudePresident & CEO(778)
327-6671(778) 327-6675info@rivres.comwww.rivres.comRiverside
Resources Inc.Joness LangManager, Corporate Development(800)
RIV-RES1(778) 327-6675jlang@rivres.comwww.rivres.com
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