Riverstone Announces Drilling Plans on Karma Gold Project
August 25,
2009
Riverstone Resources Inc. (TSXV: RVS, Frankfurt: 3RV) is pleased to announce that it
will commence a drill program shortly on its Karma project in Burkina Faso, West
Africa. The program will comprise approximately 6,000 metres of
drilling, divided roughly equally between reverse circulation
("RC") and rotary air blast ("RAB") drilling. The
Karma project has four separate gold deposits supporting a NI 43-101
resource estimate of 820,500 ounces of gold in the indicated
category and 320,300
ounces in the inferred category (see news releases
dated May 11, 2009 and July 6, 2009). The objectives of the up-coming
program are to test for extensions beyond the known mineralized zones and
to collect samples for metallurgical testwork
purposes. The seasonal rain in Burkina is diminishing and the drilling is
expected to begin by mid-September.
The
Karma project consists of the Kao Main, Rambo, GG1 and GG2 deposits. The
deposits are all within 8 kilometres of each other, allowing the
company to envision the establishment of a central processing facility
(see accompanying Map 1 on the website). In addition, there are numerous
other gold occurrences and artisanal workings in the immediate vicinity
of each of the deposits which require evaluation. The Kao Main deposit,
in particular, has demonstrable potential to significantly increase in
size based on RAB drilling results and extensive gold-in-soil geochemical
anomalies (see accompanying Map 2 on the website).
On the
Rambo property, a limited RAB program last year returned high grade
intervals in two holes. These holes appear to be on the Rambo structural
trend and warrant follow-up RC drilling. A number of gold geochemical
targets have also been delineated adjacent to the known GG1 and GG2
deposits that also warrant drill testing.
Riverstone
Resources Inc. is active in gold exploration in Burkina Faso, West
Africa, where the company holds an extensive portfolio of
high quality exploration permits covering 2,300 square kilometres. For
further information about the company and its activities, please refer to
the Company's website at www.riverstoneresources.com and
under the Company's profile at www.sedar.com.
"Michael D. McInnis"
______________________________________
Michael D. McInnis, P.Eng., CEO & President
For further information
contact:
Vancouver Office:
Michael D. McInnis, President
Phone: 604.801.5020
Email: info@riverstoneresources.com
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Raju Wani, Investor Relations
Phone: 403.240.0555
Ron Cooper, Investor Relations
Phone: 604.986.0112
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Neither
TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Certain statements made and information
contained in this news release and elsewhere constitutes
"forward-looking information" within the meaning of the Ontario Securities
Act. Forward-looking statements are subject to a variety of risks and
uncertainties which could cause actual events or results to differ from
those reflected in the forward-looking statements, including, without
limitation, risks and uncertainties relating to the interpretation of
drill results and the estimation of mineral resources, the geology, grade
and continuity of mineral deposits, the possibility that future
exploration, development results will not be consistent with the
Company's expectations, accidents, equipment breakdowns, title matters
and surface access, labour disputes, the potential for delays in
exploration activities, the potential for unexpected costs and expenses,
commodity price fluctuations, currency fluctuations, failure to obtain
adequate financing on a timely basis and other risks and uncertainties,
including those described under Risk Factors in each management discussion
and analysis. In addition, forward-looking information is based on
various assumptions including, without limitation, the expectations and
beliefs of management, the assumed long term price of gold, that the
Company will receive required permits and access to surface rights, that
the Company can access financing, appropriate equipment and sufficient
labour and that the political environment within Burkina Faso will
continue to support the development of environmentally safe mining
projects. Should one or more of these risks and uncertainties
materialize, or should underlying assumptions prove incorrect, actual
results may vary materially from those described in forward-looking
statements. Accordingly, readers are advised not to place undue reliance on
forward-looking statements.
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