Riverstone Resources Inc. (TSX VENTURE:RVS)(FRANKFURT:3RV) has reported results from the first four holes from the on-going diamond drill program on the Company's Nami Artisanal gold prospect in Burkina Faso, West Africa.
Results include an intercept of 20 metres of 3.27 g/t gold which included 9 metres of 6.50 g/t gold at shallow depths in Hole RADD-10-33. The holes were drilled on north-south fences to test an interpreted westerly-trending mineralized zone which traverses the middle of the artisanal site. The results from the four holes support the interpreted geologic model and are considered to be very encouraging.
Holes 30 and 31 tested the edges of the zone and returned lower values. Holes 32 and 33 tested the interpreted core of the zone and returned high grade values over significant lengths. Holes 32 and 33 were drilled in areas of widespread artisanal mining activity and encountered multiple voids in the top portion of each hole. These voids are interpreted to be due to artisanal workings of gold-bearing zones. As a consequence, recoveries in the upper portions of these holes were poor which could have reduced the grades in these areas.
"We are very encouraged by the results of the first four holes of this on-going drilling program," commented M.D. McInnis, President and CEO of Riverstone. "We appear to be validating the geologic model which will give us good guidance for planning future holes and expanding the deposit."
The drilling program at Karma has re-commenced after the Christmas break. The diamond drill will continue drilling at the Nami and Kao prospects and the RC rig will continue the evaluation of the GGI deposit. Approximately 20,000 metres of drilling are planned for Q1 2011.
The Nami Zone is part of the Company's Karma project, which 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 in the Rambo Main, Kao, Goulagou I and Goulagou II deposits. The Nami Zone lies in close proximity to the Rambo gold deposit, and any resource developed at Nami will be accretive to the overall Karma project.
Riverstone maintains a quality control program involving the use of repeat assays, inserted blanks and the use of certified standards from an accredited Canadian laboratory. All rock samples were assayed using standard fire assay with atomic absorption techniques, with samples grading over two grams gold per tonne re-assayed with a gravimetric finish, at the independent Abilab Burkina SARL laboratories in Ouagadougou, Burkina Faso, which is part of the ALS Chemex group.
Source: Riverstone Resources Inc.