Feb 20 2015
Riverside Resources Inc. ("Riverside" or the "Company") is pleased to announce that the Company has staked and is in the process of acquiring title to the 128 km2 Thor Copper Project (the "Project") in Sonora, Mexico. The Project was acquired as a part of funded alliance activities through the Company's copper porphyry exploration alliance (the "Alliance") with a wholly owned subsidiary of Antofagasta plc. ("Antofagasta").
The Project is located within the prolific Sonora, Mexico Laramide Copper Belt, which is host to major Cu-Mo porphyry deposits including Cananea, La Caridad, Mariquita, and Milpillas Mines. The Sonora belt is one of the major Cu porphyry districts in the world and has exceptional discovery potential for copper porphyry deposits as has been documented by the US Geological Survey and in other studies. Early results from initial rock chip sampling conducted by Riverside have returned values ranging up to 0.9% copper from outcrops and the Company is in discussions with Antofagasta for additional funding to carry out further exploration and target definition.
Riverside's President and CEO, John-Mark Staude, stated: "The Thor Project represents just one of a number of target areas that we have been evaluating with our alliance partner. Initial exploration indicates a lithocap environment and with further work this type of alteration has the potential to lead us to a copper porphyry system. The results of the exploration work have been positive and we look forward to a strong 2015 as we move ahead with the Antofagasta-Riverside Generative Alliance."
Property Details:
The 128 km2 Thor Project is located 130 km SW of the La Caridad Mine (1,800 Mt @ 0.45% Cu, 0.02% Mo1) and boasts good access near regional, paved highways and good infrastructure with nearby power lines and water. This is a new property staked by Riverside for the Alliance.
Follow-up field surveys recently completed at Thor have identified Laramide age intrusive and volcanic rocks with previously unrecorded copper mineralization and zoned alteration consistent with a Cu porphyry type system. This surface expression of a system is recognized along a nearly 7 km NNW trend, located within a structural block which preserves the favourable Laramide intrusive-volcanic stratigraphy. Alteration zonation, defined through mapping, rock chip sampling and Terraspec analysis, suggests a possible center of mineralization lies in areas of post-mineral cover, coincident with aeromagnetic lows.
Qualified Person and QA/QC:
The scientific and technical data contained in this news release pertaining to the Thor Project was reviewed and prepared under the supervision of Riverside's Copper Exploration Manager, Allan Montgomery, P.Geo, PhD., 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:
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 $3,000,000 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
1: USGS Scientific Investigation Report 2010-5090-A
Source: http://www.rivres.com/