Riverstone Resources Inc. (TSX VENTURE:RVS)(FRANKFURT:3RV) has announced that ongoing Reverse Circulation drilling at the Kao gold deposit in Burkina Faso, West Africa, has extended the gold bearing zone over 100 metres to the northeast.
The deposit still remains open this direction towards a series of widely-spaced gold intercepts approximately 500 metres away that were drilled in 2009. The Kao deposit is one of four that collectively comprise the Company's advanced stage Karma gold project.
The recent RC drilling at Kao tested the zone on a series of fences to the north and northeast of the current NI 43-101 compliant gold resource, which covers an area approximately 800 metres by 400 metres. Several holes were also drilled to the southwest, down dip to the east below the level of oxidation, and on several nearby regional targets. Twenty six holes were drilled, totalling 3,346 metres. This release reports on the results of the first 12 holes.
The Company has recently begun a 25,000 metre drill program on Karma which will consist of at least 15,000 metres of Reverse Circulation (RC) and 10,000 metres of diamond drilling.
The bulk of the RC drilling will be infill lines at Goulagou I in an effort to both expand the resource and to move it into the Indicated category. Drilling completed in August of 2010 demonstrated that the Goulagou I deposit has grown to in excess of 1.7 kilometres long and reaches a width of at least 300 metres over the western 900 metres of the zone. The zone remains open to the west and to depth. The Goulagou property is subject to an Option to Purchase agreement with Golden Star Resources Ltd.
The majority of the diamond drilling will be carried out at the Company's Nami gold zone where artisanal miners are actively working an area of approximately one kilometer by 500 metres.
The Company is currently updating the gold resource estimate on the Kao gold deposit and on the other three deposits, Goulagou I, Goulagou II and Rambo Main, which comprise the Karma resource, and anticipates completing a new resource estimate by the end of this year. The Karma project currently comprises a NI 43-101 compliant gold resource of 820,500 ounces of gold in the indicated category and 322,300 ounces of gold in the inferred category.
Source: Riverstone Resources Inc.