Dec 18 2012
Riverside Resources Inc. ("Riverside" or the "Company") is pleased to announce that Riverside and its partner, Cliffs Natural Resources ("Cliffs"), have commenced drilling at the Naranjo project located in Jalisco, Mexico. The planned five-hole, 1,400 metre reverse-circulation drill program is now underway. The Naranjo project is the second project to be drilled under the Iron Oxide Copper Gold (IOCG) Strategic Alliance between Riverside and Cliffs.
Drilling at the Naranjo Project will test several kilometer-scale magnetic anomalies derived from an aeromagnetic survey, magnetic inversion processing, and detailed 3D modeling. Detailed modeling (two pass inversions) of the airborne magnetic data by Mira Geoscience shows large, clear, and discrete anomalies that appear to correspond on surface to historic small-scale iron workings. The anomalies at Naranjo are slightly lower amplitude than those at the nearby El Encino mine (approximately 51 M tons @ 62.5 % Fe); however, they are larger in scale and thus excite the Company as strong targets for drill testing.
John-Mark Staude, President and CEO of Riverside Resources Inc., stated, "We are pleased to be drilling a second property in Jalisco and look forward to results from the program at Naranjo in early 2013." Staude added, "Riverside will continue generating and presenting further IOCG targets and hope to be drilling a third project with Cliffs in the New Year."
Qualified Person:
The scientific and technical data contained in this news release pertaining to the Naranjo project was reviewed by Riverside's Chief Geologist, David S. Smith, MS, MBA, CPG, a non-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: http://www.rivres.com