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Carlyle Commodities Announces Property Option Agreement with Riverside Resources Inc. for The Cecilia Gold-Silver Project in Sonora, Mexico
Vancouver, British Columbia--(Newsfile Corp. - July 15, 2020) - CARLYLE COMMODITIES CORP. (CSE: CCC) (FSE: 1OZ) (OTC Pink: DLRYF) ("Carlyle" or the "Company") i
About this update from Carlyle Commodities Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - July 15, 2020) - CARLYLE COMMODITIES CORP. (CSE: CCC) (FSE: 1OZ) (OTC Pink: DLRYF) (\"Carlyle\" or the \"Company\") is pleased to announce that it has entered into an option agreement (the \"Option Agreement\") with Riverside Resources Inc. (\"Riverside\"), an arm's length TSX Venture Exchange (\"TSXV\") listed issuer trading under the symbol \"RRI\", to purchase an undivided 100% interest in and to the 7,739 hectare Cecilia Gold-Silver Project (the \"Property\") located in the State of Sonora, Mexico (the \"Transaction\"). Morgan Good, Chief Executive Officer of the Company, commented: \"We are extremely thrilled to have entered into this Option Agreement with Riverside for The Cecilia Gold-Silver Project in Sonora, Mexico. President and CEO of Riverside Mr. John-Mark Staude and his exceptional team have already completed several successful years of exploration work creating value and advancing the project to its current status. The project is drill permitted and all logistics are currently in place. This allows work programs, including but not limited to an initial drill campaign where we will be testing several high priority targets, to begin in short order. With many other junior mining companies exploring for precious metals in Mexico and having had success of late, as well as the surging gold price and what we believe to be a prolonged gold cycle, timing is perfect for Carlyle and Riverside.\" About The Cecilia Property The Cecilia Gold Project is a district scale gold and silver low sulfidation epithermal system centered on multiple mineralized rhyolitic flow-dome complexes and is located 40 km southwest of the Mexico-U.S.A. border town of Agua Prieta in Sonora, Mexico. The project is directly accessible by well-maintained dirt roads from highway 17. Mineralization is related to structures of N30W and N70E with high grades assayed at the intersection of these structures. One of the workings at the Cerro Magallanes dome returned high grades up to 133.7 g/t Au and 335 g/t Ag[1]. In addition to the rhyolite domes the underlying sedimentary Cabullona group and Paleozoic limestone provide an environment for replacement style mineralization at depth. Current deposit model type for Cecilia are SSR Mining's Pitarrilla deposit and Fresnillo's San Julian deposit, which contain 526 mil...