Riverstone Resources has reported the results of 38 holes, totaling 10 reverse circulation (RC) and 28 diamond core (DD), drilled at the company’s Kao Deposit.
This deposit belongs to the flagship Karma gold project located in Burkina Faso, West Africa. These holes are drilled as a part of a program specifically designed to expand the Kao deposit down dip and along strike towards north.
The company encountered 2.79 g/t gold over 8 m in DD-12-107; 3.48 g/t gold over 12 m in DD-12-114; 2.94 g/t gold over 12 m in DD-12-121; 2.90 g/t gold over 12 m in DD-12-145; 1.57 g/t gold over 24 m in DD-12-151; 2.54 g/t gold over 6 m and 11.46 g/t gold over 4 m in 11-RC-254; 1.38 g/t gold over 16 m and 2.54 g/t gold over 6 m in 11-RC-256.
Mineralization found at the Kao deposit expands over 1,400 m towards the northeast and southwest and at least 900 m down-dip towards the east. These new drill holes show the occurrence of zones that are of above average grade in shallow oxide material, and several down dip intersections having material of above average grade. This drill program has expanded the popular zone down dip by at least 100 m on some segments. The company has completed more drill holes at the Kao deposit and is expecting to receive the assays in August 2012.
According to Riverstone’s CEO and President, Dwayne L. Melrose, these above average grade drilling assays from Kao has encouraged the company. Riverstone has not identified the Kao deposit limits. It strives to extend Kao towards down dip and along strike, and the future resource calculation that is scheduled to be announced in September 2012 will include these drilling results. The company is advancing the preliminary economic assessment (PEA), which is now being carried out for the Karma project, and this PEA may be reported in August 2012.