Riverstone Resources has released the results from 51 reverse circulation (RC) holes drilled at the company’s 90% owned, Goulagou I (GGI) deposit. This deposit is a portion of the flagship Karma Gold project located in Burkina Faso, West Africa.
GGI Plan - Location of the holes
These RC holes were drilled as part of the overall campaign in order to expand the GGI deposit to the depth and along strike for adding the future resource calculation of the Karma project. The estimate may become available in September 2012.
The company encountered 4.21 g/t gold over 2 m and 2.32 g/t gold over 2 m in hole 12-RC-236; 3.48 g/t gold over 4 m and 1.21 g/t gold over 20 m in hole 11-RC-321; 4.53 g/t gold over 4 m in hole 11-RC-328; 1.08 g/t gold over 14 m in hole 11-RC-330; and 1.43 g/t gold over 40 m in hole 12-RC-339.
Currently, the GGI mineralization is expanding towards east-west over 2,200 m and down dip for at least 200 m. The drill program at the GGI deposit is assessing near-surface target areas to a vertical depth of approximately 100 to 150 m. Additionally, deeper drill program analyzed high-grade shoots, which stays exposed towards depth and along strike.
According to Dwayne L. Melrose, Riverstone Resources’ CEO and President, the project’s preliminary economic assessment that is being carried out is advancing as per schedule and may be announced in August 2012.
The company has additionally drilled more than 85,000 m at the Karma Project. These drilling results may possibly be included in the overall resources of the Karma deposits.
Riverstone prepared all the samples at the Abilab Burkina SARL laboratory located in Burkina Faso, West Africa, and these samples were assayed with the help of standard fire assay and an atomic absorption finish.