Nov 23 2010
Riverside Resources Inc. (TSX VENTURE:RRI)(PINK SHEETS:RVSDF)(FRANKFURT:R99) has announced it has identified four potential drill targets at the 100% Riverside-owned Catrina property.
The combination of a strong geophysical IP response, regional magnetic highs associated with intrusions, encouraging geochemistry, and thin cover makes Catrina a significant Project for Riverside. The geophysical IP response at Catrina is comparable in scale to the Camino Rojo and Penaquito projects with similar trace element geochemistry (gold-silver-zinc-lead). Geochemistry of the alteration zone shows a strong gold anomaly with values extending over an area of more than 3 km2. Surface values from the largely thin pediment covered target area range from <5 ppb up to 0.95 g/t gold.
The geophysical anomalies contain high resistivity zones which can indicate silica alteration consistent with gold mineralization as found at nearby Central Mexican deposits. The resistivity signature remains open to the east, northeast, and north showing potential for expansion. The Catrina Project chargeability plan map highlights the similar scale of the target in comparison with the outline of gold mineralization from Camino Rojo. The recently completed IP survey identified four clusters that are now interpreted as drill ready target areas.
The next phase of exploration on the project could include a targeted drill program to test the geology, geochemistry and geophysics targets identified at Catrina.
This project is one of a number of properties that were developed through the Riverside – Kinross Exploration Alliance which has now been completed. The Alliance(News Release January 22, 2009) delivered on the anticipated goals of identifying high quality properties. Riverside looks forward to advancing these properties with full ownership, as Kinross has opted to pursue other opportunities.
"The Riverside Technical team has developed this strong open pit gold target with a limited amount of capital dilution as the project was progressed as part of an Exploration Alliance with Kinross Gold Corporation," stated John-Mark Staude, President and CEO of Riverside Resources Inc. "The Riverside-Kinross Exploration Alliance has been an excellent two-year program, and with Riverside now owning these properties 100% it can move the targets ahead through joint-ventures with interested third parties".
Catrina Target Details:
Caracol Formation sandstones and shales are the main host rock for numerous mines in the prolific mining region of Durango/Zacatecas, Mexico. The formation at Catrina is associated with regional magnetic highs which appear to relate with intrusions that, in other locations and potentially here, are linked spatially to mineral discoveries. The numerous gold anomalies and favorable looking hydrothermal alteration covers a generally NE trending zone and then proceeds under thin post-mineral alluvial cover. The alteration halo is closely associated with a variety of NW trending andesite and hornblende granodiorite porphyry dykes, as is common in other deposits such as San Sebastian, Castillo, Ojuela, and Lampazos Mines. The andesite porphyry and hornblende granodiorite dykes may be a key progenerator or related to the mineralized system similar to that found at Inde, Pitarrilla, Penasquito, and other mining camps in the area.
The scientific and technical data contained in this news release were prepared under the supervision of Mark J Pryor, Pri.Sci.Nat., an 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.
Source: Riverside Resources Inc.