Riverstone Intersects 5.47 g/t Gold Over 10 Metres at Karma
February
28, 2008
Riverstone
Resources Inc. (TSXV:RVS, Frankfurt:3RV) is
pleased to report initial results from the fourth phase of reverse
circulation (“RC”) drilling recently completed on the Kao
Main Zone at its Karma project in Burkina Faso, West Africa. Highlights
include 2.75 g/t gold over 22 m (including 5.47 g/t gold over 10 m) and
1.01 g/t gold over 34 m (including 2.00 g/t gold over 12 m). The
Kao Main Zone continues to expand to the northwest by at least 100
metres, and it is still open to the north and to the northwest and at
depth. Previous drilling in October 2007 had doubled the size of the
known near-surface mineralised zone to 600 metres in length by
approximately 300 metres in width.
This
current phase of RC drilling comprised 5,050 metres in 50 holes, most of
which was designed to determine further extensions of the shallow oxide
gold mineralization at the Kao Main Zone in preparation for an
independent resource estimate.
Significant
results from holes 100 to 118 are summarized in the table below. All
holes were drilled at -60º. Intervals reported are drilled
intercepts, which may not represent true widths of the mineralized zones.
Additional results will be released over the next few weeks, once assays
have been finalized and verified.
Hole
Number
|
From
(meters)
|
To
(metres)
|
Hole Interval
(metres)
|
Grade
(g/t Au)
|
KAO-08-RC-100
|
8
|
10
|
2
|
2.58
|
KAO-08-RC-101
|
0
|
2
|
2
|
1.69
|
KAO-08-RC-108
|
64
|
70
|
6
|
0.96
|
KAO-08-RC-112
and
|
28
48
|
30
56
|
2
8
|
1.85
0.87
|
KAO-08-RC-113
including
|
6
16
|
40
28
|
34
12
|
1.01
2.00
|
KAO-08-RC-114
and
including
|
18
60
60
|
28
82
68
|
10
22
8
|
0.62
0.78
1.05
|
KAO-08-RC-115
and
|
32
52
|
46
58
|
14
6
|
0.69
1.05
|
KAO-08-RC-116
including
or including
and
|
16
16
30
72
|
36
24
36
92
|
20
8
6
20
|
0.86
1.07
1.36
0.71
|
KAO-08-RC-118
including
or including
|
0
0
8
|
100
22
18
|
100
22
10
|
0.70
2.75
5.47
|
The Company is presently drilling on the adjacent Goulagou permit which
contains a NI 43-101 compliant indicated resource of 280,000 ounces of
gold at a grade of 1.70 g/t and a further inferred resource of 270,000
ounces of gold at a grade of 1.49 g/t (see News Release dated October 11,
2007). Kao and Goulagou are two of the four contiguous exploration
permits included in the Company’s Karma project, the others being
Rambo and Rounga. The Kao Main Zone and Goulagou deposits are
approximately 12 kilometres apart, separated by flat terrain. A
third Company-owned deposit at Rambo lies essentially midway between the
Kao and Goulagou deposits.
Riverstone’s strategy is to develop sufficient gold resources at
Karma to support a centralized mining operation. Management
believes the Company is on track to identify a cumulative gold resource
in all categories of more than 1,000,000 ounces of gold at Karma in 2008.
The Company maintains a rigorous quality control program involving the
use of repeat assays, check assays at independent labs, inserted blanks,
and the use of verifiable standards from an accredited Canadian
laboratory. All RC samples were assayed using standard fire assay
with atomic absorption techniques, with samples grading in excess of 2.00
g/t gold 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.
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 3,500 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.
ON BEHALF OF THE BOARD
"Michael D. McInnis"
______________________________________
Michael D. McInnis, P.Eng., CEO & President
For further information contact:
The TSX Venture
Exchange does not accept responsibility for the adequacy or the accuracy
of this release.
Paul G. Anderson, P. Geo is a Qualified Person for RVS and has reviewed
and approved the contents 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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